Pros And Disadvantages Of Entrepreneur

Pros And Disadvantages Of Entrepreneur
A business leader who brings money, raw materials, manufacturing facilities, skilled labor is called entrepreneur. Entrepreneur has worn many faces
and played many roles. Most policy makers and academics agree that entrepreneurship is critical to the development and well–being of society. They
create jobs, drive and shape the innovation, speeding up the structural changes in the economy. They are usually modeled as combinations of innovators
with creative and innovative flair and managers with general management skills.
According to the Richard Cantillon (1680–1734), entrepreneur is risk–taker who has the foresight and willingness to assume risk and take the require
action to make profit or loss. His entrepreneur is kind of forward–looking and risk–taking. Risks were distinguished by Frank Knight (1885–1972) as
capable of being measured and un–measurable. According to Knight, entrepreneur takes the latter risk which is no objective measure of probability of
gain or loss. According to Burke (2006), entrepreneur can be defined as a person who habitually creates and innovates to build something of recognized
value around perceived opportunities. Joseph Schumpeter (1883–1950) said that entrepreneur is innovator who is the central figure in advancing the
wealth of nations and creating dynamics disequilibrium in the global economy. He pointed out that knowledge underlying the innovation need not be
newly discovered and may be existing knowledge that has never been utilized in
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The Theory Of Economic Development
With this inquiry I seek to establish the role of finance in economic development as presented by Joseph Schumpeter in his book, The Theory of
Economic Development, [1911] The book analyzes elements that make up for economic development in a capitalistic society as viewed by
Schumpeter. The elements mentioned include and revolve around the subject of finance. Finance is simply defined by investopedia.com as, "Finance is
the science that describes the management, creation and study of money, banking, credit, investments, assets and liabilities" [web]. The role of some of
the mentioned elements, along with others, in economic development are mentioned and discussed in Schumpeter's Theory. Research has proven that
the financial intermediary between economic growth and the entrepreneur who seeks to build new markets. Schumpeter exhibits this notion in his
work; the purpose of this inquiry is to clarify the character finance plays in the economic advancement of a capitalistic society. This will begin with the
exposition of economic development as viewed by Schumpeter followed by the financial role from different chapters of his book. This includes Credit
and Capital, Entrepreneurial Profit, and Interests on Capital. Schumpeter understanding of Economic Development The second chapter of
Schumpeter's Theory is his analysis of how an economy develops as well as the elements that contribute to its growth. Firstly Schumpeter states what
defines development, that being the

The Private Market And Venture Capitalist
Mr. Whitney presented enlightening information regarding entrepreneurship, why it is important and how the private market or venture capitalist are
so important in investing in entrepreneurs. Venture capital is changing the global economy as banks are not investing in businesses anymore other than
lending funds. Wealth creation has changed due to the internet and today wealth creation is out pacing the wealth created by inheritance (M. Whitney,
personal communication, May 21, 2016). An axiom from Mr. Whitney's company is networks create and disrupt net worth. As explained, networks
bind things together, but they take away somewhere else. This can be illustrated in the railroad industry. The railroad created a network, which tied
the east and west coast together, facilitating travel and movement of goods from coast to coast. However, the railroad industry disrupted net worth of
the horse and buggy industry, as this mode of transportation was replaced. It is typical for organizations to follow a common business model within
an industry but, if you assume that there is only one business model, then your organization gets disrupted and you are blindsided. Another idea
presented was retail is a good indicator of market shifts, with three big trends portrayed in retail that is extended to every industry as a predictive
indicator. One of these trends is consolidation, which we see companies buying up companies, therefore the customer base is getting smaller. This

Technology And Technology Essay
In this modern age, technological innovation inundates us. Nearly every person, regardless of income, has a cell phone, computer, and a car. The
pace of innovation is so fast that some people believe the government should take a leadership role in its production. They fail to realize, however, that
if the government were to assume control, progress would be tied up in red tape, and we would never know what innovations could improve our lives.
The rapid growth of technology causes concerns about unemployment. Consequently, some petition the government to protect their jobs. Is this a wise
decision? As John Stossel says in his TV special Tech Revolution, "Whenever there's beeninnovation, experts predict that employment will decline. But
the experts can't imagine the new jobs." A well–known example of technological progress without government interference is Henry Ford's mass
production of cars. He developed a system of conveyor belts that reduced the time it took to make cars from 12 hours to 2 hours and30 minutes. At
first, not many people could transition from a carriage to an automobile. Yet, as more were produced, prices dropped, and more people could enjoy the
benefits of faster, lower maintenance transportation. True, some people undoubtedly lost their jobs making carriages. They had to find new jobs,
possibly at Henry Ford's factory. His system of conveyor belts led to the creation of the assembly line mode of production, an innovation that brought
vastly greater

Personal Reflection On Entrepreneurship
The purpose of writing this report is to show how much I have learned and experience from enrolling in BBA 220. It is also include the impression and
my personal reflection about the unit itself, and also the reflection about group project. Before I start this unit, I do not understand much about
entrepreneur and entrepreneurship at all. I just know that people who do business are businessmen. However, after joining this unit, my understanding
toward entrepreneur become different. Entrepreneur is someone who is willing to take risk by inventing a new business that does not exist in the
market or start up their own business to make profit or take benefit of an opportunity. On the other hand, according to Joseph Alois Schumpeter
(1883–1950), ... Show more content on Helpwriting.net ...
There is me who study in Marketing. Matthew Chong studies in finance. Tanya Kazzi studies in bachelor of commerce which concentrate on HR.
Eric Deng studies in business for four year that has a deep understanding about research and development. And Bhavisha Pindoria who studies in
operation management. Because of our academic background, the work was divided according to their own respective specialty. My task in this
project is to develop a marketing strategy and also analyze the market. I have done many researches that related to market that include competitors
analysis, market segmentation, medium channel to deliver the message of the company as well as consumer behavior. My role is to ensure that we
can position our company in the target segmentation by build up brand awareness and brand recall, and also find the effective way to deliver the
message to our customers and attract them to purchase our service. My expectation toward my teammate is that we can create a good business plan
and each of them can complete their own task. I also hope to understand better to see if there is any potential business partner in the future as well.
And I also understand that my teammate expect me to do a better job in my part as well and to find the best solution that suit to our company. In the
process of this group project, we face some difficulty due to the lack of communication and

New Methods Of Managing And Communication
Introduction
Things change. New products are invented. New markets are created. New jobs are shaped. New methods of managing and communication are
established and there are new norms, values, and regulations. But then again, old products disappeared, old jobs died out, old markets vanished, and
many other old things are gone nowadays. This is because of creative destruction, a term coined by Joseph Schumpeter (1942). It refers to the
transformation of industry practices.
However, transformation is not as easy as it may seem. There are many aspects that make such transformation very difficult to achieve. Uncertainty for
the future for example, entrepreneurs might be hold back because the future state is unknown. Furthermore, there is inertia that lies in the psyche,
which means that humans tend to resist things that are different and there is the fear of social sanctioning. Additionally, markets need to be ready for
a change, ideas need to be legitimized and external developments play a significant role in realizing creative destruction as well. Entrepreneurs need
to understand how to see beyond these barriers in order to create the foundation for radical change. In this essay all processes of creative destruction
will be discussed and within every process the difficulties of transformation will be explained. Relevant examples, such as Jon Bannenberg's new
superyacht design, will be used to underline the explanations.
First, the term creative destruction will be

The Relationship Between Entrepreneurship, Innovation and...
Discuss the relationship between entrepreneurship, innovation and economic development. What role do creativity and problem solving play in this
relationship? Refer to both theory and examples from the business world to support your discussion.
Date of submission: 26 November 2010
Name: Chen Wanxin
School: the University of Nottingham, Ningbo, China
Module convenor's name: Maris Farquharson
Module title: Entrepreneurship and Business
Module code: P11440 (2010)
Length: 1885 words
Entrepreneurship, which was a notion put forward approximately three centuries ago and soon becomes a contentious topic, contributes positively to
economic development mainly through innovation. Whilst creativity and problem solving are required at all points ... Show more content on
Helpwriting.net ...
From the writer's point of view, the former two theories are relatively intellectually imperfect due to their limit of time horizon, while Schumpeter's
theory is far more sophisticated as well as complete, in spite of its restriction to some extent.
The term innovation is much more frequently used in people's daily life. Despite that, it is necessary here to clarify what innovation exactly is in the
economic context. Lumsdine and Binks (2007) regarded innovation as 'a valuable skill in demand by employers who recognize the ability to innovate
as a key for remaining competitive in the global marketplace'. While innovation was conceptualized as the key to economic development in any
enterprises or even countries, by Hisrich, Peters and Shepherd (2010). They also categorized innovation into three types shown as follows:
Moreover, Johnson (2007) pointed out that innovation could be both introduction of a novel production method or product as well as the development
of a new geographical market for an existing product. While Bessant and Tidd (2007: 29) summarized innovation as: 'the process of translating ideas
into useful–and used–new products, processes and services'. Their idea

The Current State Of Entrepreneurship
According to Ernst & Young (2015), "Entrepreneurs are the backbone of Canada's economy". These individuals have become invaluable assets to be
recognized and cultivated. They have changed the livelihood and occupational abilities of the nation, and created conditions for a flourishing society.
Thus, it is important to understand the Canadian entrepreneurial landscape, as it has transformed the country 's economic state entirely. The purpose of
this report is to investigate the current state of entrepreneurship in Canada in comparison to other G20 countries, and make recommendations for
government and policy makers. It will provide a brief overview of the history of entrepreneurship, analyze the current state of entrepreneurship in
Canada,... Show more content on Helpwriting.net ...
Over the last 20 years, there has been a tremendous movement towards legitimacy among entrepreneurs and startup founders. The vitality of startup
firms in high technology industries, the expansion of venture capital financing, and the successes of regional clusters, most notably Silicon Valley, have
spurred global interest (Murray, 2015). As commerce has evolved over centuries, so has the definition of entrepreneurship. The Definition of
Entrepreneurship According to economist Lester Thurow, "Entrepreneurs ... bring the new technologies and the new concepts into active commercial
use. They are the change agents of capitalism" (Murray, 2015). Based on this definition, to be an entrepreneur, these individuals must take a new idea
or some creative thought, and actually derive commercial viability from it. The historical study of entrepreneurship was particularly concerned with
understanding the process of structural change and development within economies. Joseph Schumpeter, a 20th century economic and political thinker,
was well known for his theory describing entrepreneurial activity as one of the key drivers of economic growth. Further, Schumpeter coined the term
"creative destruction"; the act of new innovations replacing old innovations (Joseph Schumpeter HBS). Harvard Business Review author Piero Formica
draws the distinction between two essential entrepreneurial types in his research; "path finders and "path creators." "Path finders are map readers. They
very

The Impact Of Social Media On The Economy Of Silicon Valley
Introduction
For decades now Silicon Valley(a nickname for the San Francisco Bay southern region)has been the capital for major US technology firms and has
become a thriving ecosystem for innovation. Household names in tech ranging from Apple to WhatsApp continue to drive innovations that improve or
replace today's major industries and business practices. Although many start–up companies fail to gain traction or wide spread success, a handful of
companies have risen to world–wide success and multi–billion dollar valuations at a pace never before seen in business history. The well–known social
media company Facebook has built a value of over $245 Billion dollars(greater than the value of Wal–mart) and the car service phone application Uber
has seized a notable share of the taxi cab market although neither company existed 12 years ago. These rapid innovations and general culture of
innovation are overthrowing well–entrenched incumbents and revamping the structure of a diverse array of markets. Destructive innovation, however,
is not a new concept. Technological advancement has been the cornerstone of growth for most economies and particularly for the United States for
hundreds of years. The railroads seized the market that once belonged to horse drawn carriages and the digital camera brought an end to the dominance
of the Polaroid camera. Disruptive innovation and growth lead to the reallocation of value amongst firms within any given sector and between the
sectors of the

What Factors Affecting The World Of Entrepreneurs And The...
Discuss what factors a modern economy must put in place to encourage entrepreneurial activity with appropriate reference to relevant academic theory
and practical examples.
There are many factors in the modern economy which encourage entrepreneurial activity. Throughout this essay i am going to discuss what these
factors are and how they influence the life world of entrepreneurs and the environment surrounding them. I am also going to use different theories and
concepts to critically evaluate how they affect entrepreneurial practice in an organisational context.
Typically entrepreneurs engaged in businesses have a better mentality when compared to traditional employees. This is because entrepreneurs usually
want to have a strong foothold within a business, and desire a role with a higher authority in the company as they distain working as an employee.
This is part of the life world of an entrepreneur as all entrepreneurs share the same mentality, When they are creating or forming a business they are
more willing to take higher calculated risks within their business for the chance of a higher profit according to Chell & Ozkan, (2010). For example
when James Dyson started up his company with his new product "The G–force cleaner" in 1983, He was unable to find a manufacturer or a distributor
for the product. Due to this he took the risk in an unstable market and set up his own manufacturing company "Dyson Ltd" luckily for Dyson his risk
paid off and he made a

Biography Of Joseph Schumpeter ( 1883-1950 )
Introduction Joseph Schumpeter (1883–1950) was one of the most original and influential social scientists of the 20th century. He was born and bred
in Vienna. He pursued both law and economics. His adult life was dedicated to academics, but he also ventured into politics where he became a
finance minister after World War I. He also worked as a banker. He was a professor at the University of Bonn in 1925 and later at Harvard University in
1932 where he lectured until his death. He published numerous books including the Theory of Economics (1911) and Business Cycles (1939). From
very early, he focused his study on the role of innovation in economic and social change. Also, he explored the duty of the entrepreneur for successful
innovations (Fagerberg 2006). The essay explores Schumpeter's legacy with respect to both understanding entrepreneurship and innovation and
application of that understanding. Entrepreneurship Entrepreneurship is an organized effort that is aimed at pursuing a unique, innovative opportunity
so as to make quick, profitable growth. Similarly, entrepreneurial opportunities are those circumstances where new goods, services, raw materials and
organizing methods may be brought into the market at be sold at a higher value than their cost of production. These opportunities can be differentiated
from other opportunities for profit since they entail the discovery of new means–ends relationships and not building on the existing means–end
structures (Legge and

John Maynard Keynes And Joseph Alois Schumpeter During The...
Keynes versus Schumpeter Among many economists throughout the world, especially two ambitious figures, John Maynard Keynes and Joseph Alois
Schumpeter, stood out vividly. Although both of the economists ideologies differ greatly, each figure had contributed to the betterment of the society
throughout the world, especially the United States of America. Keynes, a command economist, was in favor of government interference while
Schumpeter, a free market economist, was in favor of determining prices and goods by the consumers. In order to distinguish differences between
command and free market economy, three components are used as a guide. First, the influence of John Maynard Keynes during the Great Depression.
Second, the influence of Joseph Alois Schumpeter during the Great Depression. Third, the rise of Keynes and Schumpeter. Ultimately, the practices of
the command and free market economy are the fundamental part of any economy. Hence, Joseph Alois Schumpeter was the eminent figure that
enlightened the benefits of letting the economy flow without government intervention for the betterment of the society.
Monetarism
When looking into Keynes' and Schumpeter's introspective opinion on monetary spending, both economists shared many similarities and differences.
First, Keynes (1936) creates a contrast between a cooperative – real wage – economy and an entrepreneurial – money wage – economy while
Schumpeter (1934) creates a contrast between the circular flow and economic

Manager vs Entrepreneure
Manager Vs Entrepreneur Two sides of a coin Who is Who?
Table of Content
Introduction Page 4
TheoryPage 6
AnalysisPage 8
ConclusionPage 11
References Page 13
Introduction
There must be hundreds of millions companies in the world. Either they are small family businesses ,or small local shops ,or big national firms, or
international corporations, either they are new players in the market or they have already been established as a brand, either they are successful or not,
they all have something in common, they are 'driven' by someone who is in charge and makes the decisions.
Who is this someone, what are his ... Show more content on Helpwriting.net ...
According to Wikipedia: * Entrepreneur: is an enterprising individual who builds capital through risk and/or initiative. This term first appeared in the
French Dictionary "Dictionnaire Universal de Commerce". Entrepreneur in English is a term applied to a person who is willing to help launch a new
venture or enterprise and accept full responsibility for the outcome. –In Greece we use the term "ОµПЂО№П‡ОµО№ПЃО·ОјО±П„ОЇО±П‚"
(businessman), as a translation to entrepreneur, to describe a person who run a company, small or big, in his own and he has the responsibility for
every decision. Otherwise we are talking for an employee and his position/title in his company, either he is a low level employee or a senior
executive.– * Mamager: is a person who gets people together to accomplish desired goals and objectives using available resources efficiently and
effectively. The act of management comprises planning, organizing, staffing,leading or directing, and controlling an organization( a group of one or

more people or entities) or effort for the purpose of accomplishing a goal. Resourcing encompasses the deployment and manipulation of human
resources, financial resources, technological resources and natural resources. Since organizations can be viewed as systems, management can also be
defined as human action, including design, to

Overview Of Schumpeter Denoted Entrepreneur As An...
Schumpeter denoted entrepreneur as a key in the economic growth and entrepreneurial process as a prime element in the progress and advancement of
economy. Again he stated that entrepreneurship is an essential element for the development of any economy and economic and political framework
condition would not affect the growth. The benefits due to entrepreneurship to community will be greater in those economies where entrepreneurs have
flexibility to operate, to expand their ideas, and to obliterate the rewards. To attract more and more productive entrepreneurs, governments need to take
corrective measures to streamline the policies and regulations. Government should prepare a different framework for the negative effects of layoffs in...
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This will lead to introduction of new technology, innovation of new product line, transformation of their production systems, existing power structures.
The crescent interest, in the field of entrepreneurship has enhanced more with the interest of dynamic role of small businesses. In developing country
like India small business has a remarkable potential. After analyzing statistical data of various countries it has been shown that small firm developed
faster than big industries. Large industries first lost jobs while small industries created new workplaces. Thus the focus is more on small scale
industries, which tend to the origin of employment in the developing country India with respect to rural areas. Apart from the employment many other
factors denotes the economic progress of country. These factors include investment in fixed assets, climate, infrastructures, inflation, education and
institutional quality. Young people are an integral part of the rural community they are able to encourage the long–term economic and social
development of the country. According to 'Food and Agricultural Organization' (FAO) there is no universally accepted definition of youth. For
statistical purposes, the United Nations General Assembly in 1985 for the International Youth Year first defined youth "as people between the ages of
15 and 24" . Moreover youth can be described in more alternative ways; as on different stage of

Israel Kirzner And Schumpeter Analysis
Israel Kirzner and Joseph Schumpeter were both great theorists known for their different views on entrepereneusrship.in this essay we are comparing
and contrasting the theories of both Schumpeter and Kirzner, and we are also going to determine whether their arguments are right and get further
insights on entrepreneurship as described by the two theorists.
Schumpeter believed that entrepreneurs were market disruptors who generated economic growth through creative destruction and disequilibration of
the markets. Rather than create opportunities as described by Schumpeter, Kirzner defined an entrepreneur as a person who is alert and can notice and
come up with a business opportunity. Kirzner sees the role of an entrepreneur as that of stability ... Show more content on Helpwriting.net ...
In both instances, an entrepreneur is looking for new opportunities, allocate resources and gain the profits that were initially not being exploited. The
difference arises because of the difference in benefits envisioned by the two theorists. In Schumpeter's scenario, we can picture the Hayekian
equilibrium where people have mutually consistent plans. An entrepreneur identifies an opportunity of making a profit, and if other people did not
anticipate the entrepreneur's actions, then other peoples plans in the economy will be disrupted by the effects of the entrepreneur, and it may result in
different people falling to achieve the plans they had previously made. The actions of the entrepreneur are therefore causing disequilibrium. At this
stage, we now find the Kirzner entrepreneurs; this is because they will step in and seize the available opportunities leading to a balance in the economy.
In both instances, an entrepreneur is acting on a business opportunity that had not been initially noticed. However, in Schumpeter's case, the
entrepreneur disrupts the Hayekian equilibrium while in Kirzner's argument, an entrepreneur is moving towards the attainment of the Hayekian

Entrepreneurship
Entrepreneurship Entrepreneurship is the act of being an entrepreneur or "one who undertakes innovations, finance and business acumen in an effort to
transform innovations into economic goods". This may result in new organizations or may be part of revitalizing mature organizations in response to a
perceived opportunity. The most obvious form of entrepreneurship is that of starting new businesses (referred as Startup Company); however, in recent
years, the term has been extended to include social and political forms of entrepreneurial activity. When entrepreneurship is describing activities within
a firm or large organization it is referred to as intra–preneurship and may include corporate venturing, when large entities spin–off... Show more content
on Helpwriting.net ...
Characteristics of an entrepreneur Entrepreneurs have many of the same character traits as leaders, similar to the early great man theories of leadership;
however trait–based theories of entrepreneurship are increasingly being called into question. Entrepreneurs are often contrasted with managers and
administrators who are said to be more methodical and less prone to risk–taking. Such person–centric models of entrepreneurship have shown to be of
questionable validity, not least as many real–life entrepreneurs operate in teams rather than as single individuals. Still, a vast literature studying the
entrepreneurial personality found that certain traits seem to be associated with entrepreneurs: * Bird – mercurial, that is, prone to insights, brainstorms,
deceptions, ingeniousness and resourcefulness. they are cunning, opportunistic, creative, and unsentimental. * Busenitz and Barney – prone to
overconfidence and over generalizations. * Cole – found there are four types of entrepreneur: the innovator, the calculating inventor, the
over–optimistic promoter, and the organization builder. These types are not related to the personality but to the type of opportunity the entrepreneur
faces. * Collins and Moore – tough, pragmatic people driven by needs of independence and achievement. They seldom are willing to submit to
authority. * Cooper, Woo, & Dunkelberg– argue that entrepreneurs exhibit extreme optimism in their decision–making processes. *

Aristotle, Joseph Schumpeter, Milton Friedman, And John Rawls
The concept of equality is multi–faceted and widely debated among scholars. While there is no singular definition for equality, equality deals with
the distribution of some "thing" in a specific domain. For this paper, equality will be narrowed down to the domains of economic and political. It is
essential to note that distinct types of equality can become conditions for equality in a different domain. In this case, economic equality will be
analyzed as a condition for political equality. How is it exactly that economic equality can undermine political equality? By answering this question,
this paper will prove that economic equality is a necessary pre–condition for political equality. I will do this by analyzing the political writings of...
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The free person has the ability to pursue their own telos economically, but the slave can only be a slave, subjugated to a master. As a result of this
economic inequality, the political equality of the slave is undermined as they cannot be a citizen within the polis. In addition to Aristotle, economist
Joseph Schumpeter is also of importance because of his theories on democracy. In his book Capitalism, Socialism, and Democracy, Schumpeter
explicated his new theory of democracy and defines it as the "rule of the politician." With this new theory, he makes it clear that he is deviating from
the classical notion of 18th century democracy presented by Rousseau and Bentham. Schumpeter writes that this traditional model of democracy
could be defined as "the democratic method is that institutional arrangement for arriving at political decisions which realizes the common good by
making the people itself decide issues through the election of individuals who are to assemble in order to carry out its will" (Schumpeter 250). His
major critique on such democracy entails the assumption of a common good because he believes that people cannot achieve a conclusion of what the
general will is. Thus, Schumpeter posits his own theory of democracy, which can be defined as follows: "that institutional arrangement for arriving at
political decisions in which individuals acquire the power to decide by means of a competitive struggle for the people's vote" (Schumpeter 269). This

Entrepreneurship
Similarities and differences between a manager, a business owner and an entrepreneur
Date: 12/8/2011 Version: 1.0 Student Number: 110369257 Module: BUS1004
Similarities and differences between a manager, a business owner and an entrepreneur By Henry Amm
Introduction
The public perception of entrepreneurs today is almost legendary. They seem to seamlessly start up small businesses and make them grow and develop
themselves almost overnight to big successes. (Beaver, 2005) This essay will briefly cover the differences and similarities between managers, business
owners and entrepreneurs.
Differences and similarities between managers, owners and entrepreneurs
Back in the 19th century being a businessman, in other words being an ... Show more content on Helpwriting.net ...
Therefore he often runs a lifestyle firm that is based on trade or craft which, however, will not grow to any considerable size. The entrepreneur in turn is
opportunistic, innovative, self–confident and acts proactive and decisive. He is highly self–motivated by his vision and is therefore willing to take
even greater risks and can live with a high uncertainty. That is why the entrepreneur has a growth firm and is pursuing growth and personal wealth.
Lastly the manager is administrating, or in other words managing, an entity that does not belong to him. His 'purpose' is to build up the organisation,
by means that are similar to larger firms. (Burns, 2007) However there are some exceptions from that generalization: An owner–manager of course can
have a growing business, while an entrepreneur could manage a business he owns together with a business associate and therefore has not complete
control over the capital. (Burns, 2007) As Fraja (1996) suggests every firm can be assigned to either one of the following types: Either it is an
entrepreneurial firm, where the owner–manager or entrepreneur is in exclusive control, organizes production, borrows funds and retains any residual
returns from his work. Or it is a managerial firm, where the individual that has the right to residual returns remains outside the company and the
individual that has the

Social Entrepreneurship: Case Study
SE01 TERM PAPER 18 AUG 2014 Aanchal Khosla, MA2014SE001 Centre for Social Entrepreneurship, School of Management and Labour Studies
TATA INSTITUTE OF SOCIAL SCIENCES ENTREPRENEURSHIP may be defined as a process of organizing any enterprise, a commercial or social
venture, managing it with considerable initiative, innovation and risk. Introduction to Entrepreneurship– The course on entrepreneurship was
introduced with a Case study of Mamma Mia that helped bring out and refine our preconceived and insufficient understanding of "entrepreneurship". In
the case we tried to understand What makes Judy Craymer an entrepreneur, her decision to bounce back, where was the innovation involved were some
of the aspects we looked into, however they were understood in more depth as more cases and theories on entrepreneurship were analyzed. Views on
entrepreneurship:– There are a number of views on entrepreneurship which may be analyzed through the lens of various disciplines. Such as –
Economist 's view, In the economist 's view, an entrepreneur is one who takes a good amount of risk and also uses capital to make profits..
Psychologist 's view says that for a person to become an entrepreneur he/she must possesses some special traits, a certain personality type. The
management view lays importance on the presence of skill competence, decision making and opportunity identification ability in an entrepreneur,
process view says that entrepreneurship is like a scientific process and

Uncertainty And Imperfect Information On Entrepreneurship
Uncertainty and Imperfect information in entrepreneurship are two important concepts that should be considered in the role of entrepreneurs.
According to (Klir, 1999) uncertainty has many methods and dimensions and can include concepts such as vagueness, disagreement and conflict,
imprecision and non–specificity The term 'uncertainty' can be defined broadly as "any deviation from the unachievable ideal of completely deterministic
knowledge of the relevant system" (Walker, 2003). Uncertainty could mean unpredictability, doubt or fear of the unknown. It has to do with therisk
entrepreneurs take in business. Imperfect information on the other hand means lack of adequate information before embarking on the business. It can
also be viewed as incomplete collection of facts or flawed communication. These two concepts play vital roles in businesses and if not carefully
considered and handled, they can have adverse effects on businesses.
Who Are Entrepreneurs?
An entrepreneur is a person who creates new business, taking risks in accomplishing the objectives which they intend to make profits and growth by
recognising vital opportunities (Burdus, 2010). They are individuals who innovate, recognise business opportunities, gather and co–ordinate new blends
of resources {i.e. production functions) in other to extract the most profits from their innovations in an uncertain environment (Rapheal Amit, 1993)
Entrepreneurs are private business owners. They are self–starters and optimistic

Radical Vs Incremental Innovation : Banning The Cultural...
Irine Surmanidze
09.11.2017
1
"Radical vs Incremental Innovation" Banning the Cultural stereotypes
Introduction
The objective of this paper is to examine two particular forms of innovation – "Radical" and "Incremental", find relevance and discrepancy in–between
and observe an impact triggered by one or two particular forms of innovation. The first part of the paper further elaborates on radical and incremental
forms of innovation, draws parallels and emphasizes Its impact on the nature of innovation. The second part of the paper introduces the case study
when MA Creative and Cultural Entrepreneurship students worked in classroom settings to ban one object/issue, to deal with the consequences and a
gap between a product and a market. ... Show more content on Helpwriting.net ...
There are number of definitions for these innovation forms, however many of them are putting an emphasis on the degree "to which an innovation
represents a departure from existing practice" (Schilling, 2011:48).
Radical innovation should present a new product, service, practice or solution that significantly differs from previous experience. It usually comes with
higher risks as there is no prior knowledge and competencies are low (Schilling, 2011:vi). Introducing of a third–generation (3G) telephony could be a
good illustration of a radical innovation. 3G was launched with an increased bandwidth that could not only transmit a voice but support more diverse
multimedia applications (http://searchtelecom.techtarget.com). To switch from 2G to 3G the telecommunication service required significant
investment in the development of relevant equipment and infrastructure, such as larger device display, memory, and battery capacity, etc. Besides, it
was not quite clear how would customers react to this innovation. So, companies and their managers had to evaluate different risks simultaneously,
including technical achievability, reliability, costs, and demand.
Incremental innovation, on the other hand, does not need to be an exceptionally new or revolutionary. It can be the same product, service or process
with simple adjustments or minor advancements (Munson and Pelz 1979). For example, the difference between two generations of iPhones – iPhone 6
and iPhone 7 – could be

Radical Vs Incremental Innovation : Banning The Cultural...
"Radical vs Incremental Innovation" Banning the Cultural stereotypes
Introduction
The objective of this paper is to examine two particular forms of innovation – "Radical" and "Incremental", find relevance and discrepancy in–between
and observe an impact triggered by one or two particular forms of innovation. The first part of the paper further elaborates on radical and incremental
forms of innovation, draws parallels and emphasizes Its impact on the nature of innovation. Second part of the paper introduces the case study, when
MA Creative and Cultural Entrepreneurship students worked in classroom settings to ban one object/issue, to deal with the consequences and a gap
between a product and a market. The third and final part of the paper ... Show more content on Helpwriting.net ...
Radical innovation should present a new product, service, practice or solution that significantly differs from previous experience. It usually comes with
higher risks as there is no prior knowledge and competences are low (Schilling, 2011:vi). Introducing of a third generation (3G) telephony could be a
good illustration of a radical innovation. 3G was launched with an increased bandwidth that could not only transmit a voice, but support more diverse
multimedia applications (http://searchtelecom.techtarget.com). To switch from 2G to 3G the telecommunication service required significant
investment in development of relevant equipment and infrastructure, such as larger device display, memory and battery capacity, etc. Besides, it was
not quite clear how would customers react to this innovation. So, companies and their managers, had to evaluate different risks simultaneously,
including technical achievability, reliability, costs, and demand.
Incremental innovation, on the other hand, does not need to be an exceptionally new or revolutionary. It can be the same product, service or process
with simple adjustments or minor advancements (Munson and Pelz 1979). For example, difference between two generations of iPhones – iPhone 6 and
iPhone 7 – could be considered as incremental while improving camera

Advantages Of Democratic Elitism
Elite rule is the form of rule we should strive for. The basis of elite rule is the concentration of power in the hands of the few, bringing with it stability
of government and 'protection–against–tyranny' (Held, 1987). There are three main strands of elitism: classical, democratic and modern elitism.
Democratic elitism is the most desirable form for government and is associated with Max Weber andJoseph Schumpeter. They argue for the constant
competition between elite rulers and groups which results in the emergence of a competent ruling class. Constant elite competition is the central
concept of Democratic elitism, as it is the reason for many of the benefits. These include producing the best leaders and ensuring a system of checks
and balances between elites. This constant competition makes the process democratic and accountable, ensuring there are no abusive forces at play
within the state. Elitism focuses on the distribution of power within the state, taking an arena based approach. In contrast, Democracy is associated with
individual rights, liberties and freedoms, such as freedom of speech, and the ability to affect change. Although the initial aims of democratic elitism are
not to provide the rights that democracy does it can still, and does, produce those rights. Therefore, I shall be arguing that the competitive nature of
democratic elitism provides benefits but also produces the aspects of democracy that people value highly, without the chaos and instability of a

Entrepreneurship and Innovation
Entrepreneurs innovate. Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth.
© Peter Drucker.
Innovation distinguishes between a leader and a follower. © Steve Jobs, Apple.
As time goes on, nothing remains the same in our world. Seasons, weather, relationships, human emotions, everything is affected by time– everything
keeps changing. The same thing is in market industry. The progress is unstoppable and if one product is a hit today, it could most likely be replaced
by another one hit tomorrow. When setting up a business, entrepreneur needs to learn how to deal with these constant changes of our life in order for
the business to survive. In such ... Show more content on Helpwriting.net ...
In other words, just like cassette walkmans were replaced by CD–players in past and CD–players were replaced by mp3–players after that. Someday
the new kind of music players will be invented and they will substitute the now popular mp3–players as well. New inventions will continuously create
the new markets that will have benefits over the others but in time they will also be pushed back by the new improved ones. But what exactly does it
all mean for entrepreneurship? It means that in order for the company to stay profitable, it has to keep in mind that if they go on producing their good
unchanged, the same as it was first presented, it will certainly become less consumed by customers, as the better–developed substitutes will occur that
will be more attractive for consumption. Just like the founder of Microsoft company Bill Gates (2005) has stated in one of his interviews "...we are
always saying to ourselves: We have to innovate. We 've got to come up with that breakthrough." This quote confirms that for Microsoftinnovation is
part of their work, otherwise they would not be doing as well as they doing now.
Speaking of Bill Gates, he actually makes a very good example of entrepreneur who gained a huge success by using the innovation. In terms with
Schumpeter's model, this is the case of new quality good creation and opening a new market afterwards. Everybody knows the story of Bill Gates and
the Microsoft corporation foundation.

The Revolution Of Economic Structure And Function Of...
The revolution in economic structure is known as creative destruction. This term was invented by Joseph Schumpeter in 1950 who considered it as the
essential factor of capitalism. According to him, "fundamental impulse that sets and keeps the capitalist engine in motion comes from the new
consumers ' goods, the new methods of production or transportation, the new markets, the new forms of industrial organization that capitalist
enterprises create". This is a fundamental process, that new product replaces old ones and destroys the old production companies. This is an innovation
of a new product, prompt capital investment, economic spreading out and increase living standard of human beings. Consequently, by substitute of
present products, industry ruined and workers unemployment, .Globalization, improvement in technology and market force increases the competition
market that directly and indirectly affects the product's formation. These changes destroy the old product. This is the essential factor and aspect of
capitalization world, macroeconomics structure and function of market. Every industry faces this destructiveness. The process of this change may have
long and short term consequences in economy of every company. Not only small companies, even big management companies do not find any solution
of this devastation in corporate inactivity.
Every business experiences this destruction. It is hard to them to protect their business and product in the wind of new technology.

Hayek 's Individual Freedom Is Best Secured Through A Free...
Marcus Roberts 2/27/2015 Mid–Term 1.Hayek argues that individual freedom is best secured through a free market. Explain his argument. I believe
to first understand Hayek argument and what it is that he was trying to convey to his audience, we would thoroughly have to understand the
definition of collectivism and what it entails. Collectivism refers to the extent in which groups are held as priority over each individual maintained
in the group. When referencing the market it is said that it dictates what you're allowed to do whether it's completed out of labor of love or for
revenue, the choice is yours. In regards to that notion of "free market" you have to make your own decisions. From the view of the free market you
should have the right to benefit and control property and it is essential part in economic freedom. For this theory, it is the only way that
self–development can occur. For you to be truly free in the eyes of Hayek, the market has to have few restrictions in allowing choices to be made. Do
what you want, but be smart bout it because the market is what responds to your actions, are your actions successful or detrimental? A collectivist
attempt to control the market is denying the right for people to develop and choose. Essentially you are giving up you individuality when you act as a
collectivist because its more majority based versus what you believe individually through morals and ethical reasoning. It is signaled as something that
you want as a producer

Benjamin Barber And Joseph Schumpeter
Introduction
The general understanding of democracy is that it is a state of leadership where citizens of a country participate equally either directly or by
representative individuals in the establishment of laws, which run the society. However, like many other forms of leadership, democracy has its cons
and may not give the citizens the necessary freedoms that they think they have. Different philosophers have different insights on democracy in terms of
concepts such as liberty, which they embraced. This paper will look at Benjamin Barber and Joseph Schumpeter's idea of democracy contrasting their
definition in terms of citizenship, obligation, rights and duties of each individual in the society declaring whose idea of democracy creates a
compelling vision (Terchek & Conte, 2001).
Benjamin Barber classifies democracy into two, the classic democracy, which he calls "Thin" democracy, and the strong democracy. Thin democracy
is where representatives are chosen by the individual citizen to go make the law. He terms this as individualistic and from this perspective the citizen
does not get to participate actively in the making of laws which run his or her society. However, strong democracy is where citizens govern
themselves to a certain degree without selecting individuals and bombarding them with responsibilities and obligations. It requires individuals to
embrace politics as citizenship and make it a part of their life as if it was like parenting, which makes citizens an

Innovation Of An Entrepreneur Creates Innovation
As entrepreneurs, we are expected to transform, motivate, and thrive. We are seen as the movers and shakers of multibillion pound industries.
However, one question always remains, how? The answer is innovation. According Joseph Schumpeter, an entrepreneur creates innovation; not only
through invention but by competition to improve technology, finance and organization. Innovation in its simplest form is the generation of a new idea
and this idea's implementation into a concrete form. Innovation can appear in the form of an idea, practice, service, or product. In order to characterize
anything as innovative, it must be perceived as adoptively original or new within a market. As a principle, innovation is change or the creation of market
... Show more content on Helpwriting.net ...
The first factor, technology, relates to the enterprise involved in a new product and how it differs from prior knowledge that exist or is being used. The
second factor, markets, relates to the scope in which a product effectively fulfills consumer needs better than an existing product. Both these factors
places a key role in how radical and incremental innovation operate. A general example of this concept would be the cumulative effects of incremental
innovation on technology in television. The technological advances in changing televisions that show pictures in black and white to color accumulated
and created not only an economic impact but also a change in the market of communications. This example demonstrates how innovation can utilize
technology and create changes to products in order to improve a market.
Furthermore, the difference between radical and incremental innovation are the high and low incentives given to consumers and their economic
impact. An example of this would be Apple's iPhone and the updates and various version of this product. The various software updates such as Siri,
IOS9, as well as, design changes such as microchip, touch screens, to the iPhone, itself, can be considered incremental innovation. This is because it
deals with the creation of changes to an existing product over a continual period of time. According the Rajesh Chandy and Gerald Tellis, it also can be
considered incremental innovation

The Characteristics Of An Entrepreneur
Our world is going through an entrepreneurial revolution. A lot of research has been carried in an attempt to define entrepreneurship while more and
more people are being encouraged to become entrepreneurs. The following study based on the stream of literature and researches on entrepreneurship
focuses on the concept of the entrepreneur and explore his background, his characteristics and the factors that influences entrepreneurship.
The Entrepreneur: A definition
Gartner (1990), while reviewing the theories of entrepreneurship notes that it is a complex concept with not even an agreed definition of its scope.
Although attempts have been made as early as the eighteenth century to identify the role of the entrepreneur, opinions are still as diverse as they were.
On one hand there are stereotypical characteristics of entrepreneurs like they are born leaders, optimists, charismatic, extremely self–confident and they
inspire people. On the other hand, anyone who works for himself or owns a business calls himself an entrepreneur. There have also been several
debates to differentiate entrepreneurs from small business owners and managers (Schumpeter 1934). The word means different things to different
people.
The word entrepreneur appeared in the ... Show more content on Helpwriting.net ...
Social learning theorists focus on community/society, upbringing, parents, situations and environment to analyse the entrepreneurial process. Family
experience with business and educational level were found to be significant factors in fostering entrepreneurial interests. Shapero and Sokol (1982)
argued that mothers and fathers are the most powerful agents in instilling an entrepreneurial mindset. Surveys also pointed out that self–employed or
entrepreneur parents can trigger a positive environment for entrepreneurial development. Parents' profession, the relationship with parents, social status
and order have figured in research as determinants of

The Small Business Association Describes Innovation
The Small Business Association describes innovation as "a process that begins with invention, proceeds with the development of the invention and
results in the introduction of a new product, process or services to the marketplace" (Acs & Audretsch, 1988). We all play a role in the world's
economic activities. We consume goods and services and often times we have brand preferences based on our affinities and experiences. While many
of us enjoy the brands of some of the most prominent companies around the world like Hewlett–Packard for instance, many consumers prefer the niche
services of small firms like Origin PC; a company that allows gamers to custom build personal computers based on individual specifications. This
example speaks to the... Show more content on Helpwriting.net ...
Proportion of Large Firms
In 1909 Joseph Schumpeter said that small companies (firms with fewer than 500 employees) were more inventive. Several decades later in 1942, he
reversed his thought upon further research. He submitted that large firms (firms with more than 500 employees) have more incentive to invest in
innovation because they can reach a broader market and recuperate the cost of R&D investments more quickly (Canter, 2016). He also believed that the
disadvantage of the innovation process to small firms in a competitive market was that inventions could quickly be imitated, cannibalizing potential
profits. In recent years Schumpeter's theory has been challenged and researchers like Acs and Audretsch have expanded upon his findings to reframe
the measure of firms' innovative activities in the context of today's economic conditions. They believed that the smallest firms' contributions to
innovation across industries were often overlooked due to a lack of quantitative measures in assessing their outputs. The two proposed that small firms
are actually more prone to innovate in industries mostly composed of large firms (Acs & Audretsch, 1988). From their empirical analysis Acs and
Audretsch wrote the following "The greater extinct to which an industry is composed of large firms, the greater will be the innovative activity, but that
increased innovative activity will tend to emanate more

Social Media And Its Impact On Business Management
For decades now Silicon Valley has been the capital for major US technology firms and has become a thriving ecosystem for innovation. Household
names in tech ranging from Apple to WhatsApp continue to drive innovations that improve or replace today's major industries and business practices.
Although many start–up companies fail to gain traction or widespread success, a handful of companies have risen to world–wide success and
multi–billion dollar valuations at a pace never before seen in business history. The well–known social media company Facebook has built a value of
over $245 Billion dollars and the car service phone application Uber has seized a notable share of the taxi cab market although neither company
existed 12 years ago. These rapid innovations and a general culture of innovation are overthrowing well–entrenched incumbents and revamping the
structure of a diverse array of markets. Large, successful firms that fail to adapt their products, business models, and strategies will inevitably decline at
hands of small disruptive competitors. Destructive innovation, however, is not a new concept. Technological advancement has been the cornerstone of
growth for most economies and particularly for the United States for hundreds of years. Disruptive innovation and growth leads to the reallocation of
value amongst firms within any given sector and between the sectors of the greater economy.
This paper will investigate the prevalence of modern day creative destruction in the

The Evolving Dichotomy Of Incremental And Radical Innovations
The book Managing Innovation defines innovation as to "see connections, spot opportunities and take advantage of them". It is "turning ideas and
knowledge into products and services". (Tidd, 2005) In recent years, firms have paid closer attention to innovation, and many have heavily invested in
the field. In this paper, we will explore the evolving dichotomy of incremental and radical innovations for their integral role in firm competitiveness. We
will examine the prevailing theories and models such as the Schumpeter theory, Abernathy– Utterback model, Teese's models, and Henderson – Clark
Model; to analyze incumbent firms ' positions in market fluctuations, and how to surmount these issues from an epistemological standpoint.
Prior to jumping to the competitiveness aspect of the question, one must understand the impacts innovation can have on firms. Furthermore no person
can better describe such a relationship but the godfather of innovation Joseph Schumpeter, who believed that innovation can be seen as "creative
destruction" waves that rebuild the entire business sector from the constant need to create something new; which results in the dismantle of the old.
Schumpeter also argued that once an entrepreneur/ innovator comes up with a successful idea, he/ she will make some capital out of it, which he
refers to as monopoly profit. However soon other entrepreneurs will begin to catch up and imitate the idea, until an equilibrium is reached; which
creates a cycle of new

Economic Development And Development Of Small And Medium...
In the modern world, where countries compete extensively, shaping the market towards dynamism, the government began to realise and acknowledge
the vital existence of small and medium sized enterprises (SMEs) to maintain a healthy dynamic market economy. In 1911, Joseph Schumpeter, an
influential economist, published In the Theory of Economic Development and highlighted that small entrepreneurial firms act as the seedbed of
innovation and technology discovery, however in Capitalism, Socailism and Democracy, published by Schumpeter in 1942, contradict the statement
and form the current accustomed concept that large corporations are the engine to the progression of economic development and possess the ability to
accelerate innovation through the process of creative destruction (Nicholas, 2003). By the 1980s, the economy gradually evolved from
production–based into knowledge–based and the government recognises and emphasised the prospective contributions of SMEs on economic
performances (Doh and Kim, 2014). Though a consensus agreement that SMEs as a whole can have an impact on a nation's economy was constructed,
the subsequent measurement to support this understanding is difficult to attain. Nevertheless, the contribution and impact of SMEs to the economy
cannot be disregarded and government should continue promoting this sector in order to maintain its position in the competitive global market context.
The influence of SMEs to an economy is difficult to measure in terms of

Theories Of Entrepreneurship
Theories of Entrepreneurship: Kirzner vs. Schumpeter
Carolann Stanek
University of Mary Theories of Entrepreneurship: Kirzner vs. Schumpeter Entrepreneurship refers to organizational, management, and assumption of
risk of a business venture (Skousen, 2014). There are several approaches to entrepreneurship theorized in economics. Perhaps two of the most common
theories are that of Israel M. Kirzner and Joseph A. Schumpeter. This short essay will review theories by both Kirzner and Schumpeter, share personal
opinion of the accuracy of each theory, and offer further insights of how an individual benefits from obtaining a greater understanding of these
entrepreneurship theories.
The Kirznerian Theory of Entrepreneurship
Kirzner's theory of entrepreneurship argues the entrepreneur is an arbitrageur who buys a given commodity where prices are low and sells the same
product when prices are high (Salerno, 2012). A Kirznerian entrepreneur drives supply to equal demand moving the market toward equilibrium
(Skousen, 2014). This theory ... Show more content on Helpwriting.net ...
This results in new supplies and demands that result in products becoming obsolete (Skousen, 2014). Schumpterian's type of entrepreneur is always
seeking to innovate superseding current production and processes (Skousen, 2014). Under his theory, the aforementioned orange grove grower creates
a new orange variety hybrid between a navel orange and a clementine called a naventine. Consumers prefer the naventine and sales skyrocket, while
sales of navel oranges and clementine oranges plummet. The following year, the majority of orange grove growers exploit profitability by growing
naventines instead of navel or clementine oranges. In this fictional example, the naventine made navel and clementine oranges obsolete, and businesses
stopped producing them as a

Austrian Economist Joseph A. Schumpeter And His Notion Of...
Austrian economist Joseph A. Schumpeter and his notion of 'creative destruction ' – the apparently contradictory term he came up with to describe the
inner, self–cannibalizing logic of capitalism after reading, ironically enough, some of Marx 's works – are nowadays renowned for having linked
entrepreneurship and a theory of economic and historical change for the first time in the history of economic ideas. Furthermore, Schumpeter 's work is
often recognized as one of the most critical components in the steady path to a post–war revival of economic liberalism that eventually reached its
full–fledged form in the last decades of the century. His antipathy toward centralized state planning, the methodological individualism that ran through
the entirety of his work in economic analysis, his views favoring innovation over regulation, and the notion that entrepreneurs alone are the true agents
of historical change have since become commonplace in contemporary economic science, culture, and policy. Unlike in past stages of capitalist
development, when traditional religious and social institutions and state powers made every endeavor to prevent the market from entering the realm of
what were considered morally non–commodifiable goods, entrepreneurial verbiage and metaphors permeate absolutely all aspects of life nowadays,
even to the point of intruding into the hitherto sacred domains of the spiritual, the affective, and the identitarian self. Seemingly bizarre compound
nouns and

Explain The Four Phases Of Business Cycle
Understanding business cycles is the essence of a course in macroeconomics. The term business cycle is an economy cycle also known as trade cycle
which refers to aggregate production. It refers the periodic but irregular upward and downward activity over several months or years in the market
economy. In another word we can say that 'Abusiness cycle occurs due to the fluctuations that an economy experiences over time resulting from
changes in economic growth.' A business cycle is typically characterized by four phases–Expansion or prosperity, recession, depression and
recovery–that repeat themselves over time.
Here I am showing the diagram of four phases of business cycle – The business cycle starts from the lower point and passes through ... Show more
content on Helpwriting.net ...
Here we should not be confused by the terms 'invention and innovation'. Invention is like discoveries of something new but the term innovation is the
application form states inventions to actual production. However, in way of economic term innovation means the commercial application of inventions
such as new techniques of production, new methods of organization etc. Advocates of a free market might be attracted by this theory because it
emphasizes enormous innovative power in

The Rise Of The Young Social Entrepreneur
Corporate America has had a long history of producing jobs and income for everyday families. Just as society has evolved, social entrepreneurship
has also evolved becoming more focused on solving problems rather than merely accumulating income. For years and years America has been a
consumer based economy, but in recent years entrepreneurship in a social manner has become a popular ambition. Corporate drones have influenced
society for centuries, however because of the rise of social entrepreneurship the entrepreneurial age is here, and many people have jumped at the
chance to make a difference with the development of various initiatives. For that reason, many have identified it as "The Rise of the Young Social
Entrepreneur."
To begin ... Show more content on Helpwriting.net ...
As they raise awareness for positive social changes through non–profit businesses and government–aid, the time is certainly right for change to social
problems. Several governments and philanthropies have fallen short to address these problems, but it has been the rise of social entrepreneurs who
have decided to answer back with change. J. Gregory Dees an Adjunct Professor and Faculty Director of Duke 's Fuqua School of Business Center for
the Advancement of Social Entrepreneurship says, social entrepreneurship as "any form of social entrepreneurship that is worth promoting broadly
must be about establishing new and better ways to improve the world. Social entrepreneurs implement innovative programs, organizational structures,
or resource strategies that increase their chances of achieving deep, broad, lasting, and cost–effective social impact." In early years, entrepreneurship
has seen great success by those who perceived a need. For example, Susan B. Anthony, who was a prominent women's right activist in the 19th century
initiated the women's suffrage movement. Anthony developed innovative solutions to social problems and fought for women's rights in the United
States. Others like Vinoba Bhave founder and leader of the Land Gift Movement, redistributed 7,000,000 acres of land to aid India's landless and
untouchables. Due to people like Anthony, Bhave , Florence

The Term ' Entrepreneurship '
Over time many definitions for the term 'entrepreneurship' have been given and interpreted, but there is continued discussion on its exact meaning.
Blundell, Lockett, and Schumpeter have all offered their definition, and even with their statute in the academic community their definitions are
interpreted in different ways. Although entrepreneurs may not be aware of these definitions, they engage in their own version of what entrepreneurship
is, and researchers found that they show characteristics from one of two models (Gilad and Levine, 1986) that lead to how decisions are made in their
enterprise. Despite having two different models, an entrepreneur may not always fall under either category, and the American entrepreneur Kim
Bentham exhibits characteristics for both models. Kim a New Hampshire native, was born in New York, and attended Hardwick College. Since
attending Hardwick College he has started several businesses over that time span. Most notable is Iron Gate Farms LLC, where he runs a successful
Farm, Car Carrier Service, and Wedding Venue under that title. Mr. Bentham's ability to make his businesses stand out in the New Hampshire market,
as well as his character traits made him the perfect candidate for this study. But how was his role of the entrepreneur in this enterprise, affecting the
enterprise itself? All entrepreneurs formally plan their individual ideas, but demonstrate the necessity of achieving their goal from action. Some
entrepreneurs exhibit

Judy Craymer Case Study Case Studies
SE01 TERM PAPER
18 AUG 2014
Aanchal Khosla, MA2014SE001
Centre for Social Entrepreneurship,
School of Management and Labour Studies
TATA INSTITUTE OF SOCIAL SCIENCES
ENTREPRENEURSHIP may be defined as a process of organizing any enterprise, a commercial or social venture, managing it with considerable
initiative, innovation and risk.
Introduction to Entrepreneurship
The course on entrepreneurship was introduced with a Case study of Mamma Mia that helped bring out and refine our preconceived and insufficient
understanding of "entrepreneurship".
In the case study we tried to understand what makes Judy Craymer an entrepreneur, her decision to bounce back,in what ways was she innovative and
creative, how did she manage risk. These were some ... Show more content on Helpwriting.net ...
With Amrita Ramachandaran's interview, a lot of clarity on the correlation between the theory and practice of entrepreneurship was obtained through
her journey and experiences as an entrepreneur. Amrita with two of her friends started Right–click, a brand communication company in 2010 and by
what I understood she followed a model of effectual entrepreneurship.
According to Saras D. Sarasvathy "All entrepreneurs begin with three categories of means: (1) who they areвЂ•their traits, tastes, and abilities; (2)
what they knowвЂ•their education, training, expertise, and experience; and, (3) whom they knowвЂ•their social and professional networks. Using
these means, the entrepreneurs begin to imagine and implement possible effects that can be created with them." 2
In the case of right click, Amrita knew that she possesses the traits and abilities to become an entrepreneur because she always desired to do
something of her own. Her education and training was in mass media and communication which sought her experience and expertise in the fields of
communication and branding. Her social network comprised of her colleagues from her previous jobs, clients, family and friends. All this combined
enabled Amrita to take the plunge into entrepreneurship. To check if her idea is implementable She started off with taking small steps such as hiring

just one employee who worked from

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