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Theory of Entrepneurship > 1.1 - Theory of Entrepneurship > Flashcards

1.1 - Theory of Entrepneurship Flashcards

1
Q

What does theory in Entrepreneurship aim to explain?

A

Theory in Entrepreneurship aims to explain what entrepreneurial activities are, why and how they take place.

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2
Q

What do theories on Entrepreneurship generally attempt to do?

A

Theories on Entrepreneurship generally attempt to define and explain what entrepreneurial activities are, and why and how they take place.

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3
Q

What is Stevenson, Roberts, and Grousebeck’s (1985) definition of entrepreneurship?

A

According to Stevenson, Roberts, and Grousebeck (1985), ‘Entrepreneurship is the pursuit of an opportunity without concern for current resources or capabilities.’

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4
Q

What is Gartner’s (1988) definition of entrepreneurship?

A

According to Gartner (1988), ‘Entrepreneurship is the creation of organizations, the process by which new organizations come into existence.’

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5
Q

What is Sharma and Chrisman’s (1999) definition of entrepreneurship?

A

According to Sharma and Chrisman (1999), ‘Entrepreneurship encompasses acts of organizational creation, renewal, or innovation that occur within or outside an existing organization.’

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6
Q

What is Knight’s (1921) view on entrepreneurs?

A

According to Knight (1921), entrepreneurs start their own businesses when the rewards are greater than employment.

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7
Q

What is Schumpeter’s (1934, 1942) view on entrepreneurs?

A

According to Schumpeter (1934, 1942), entrepreneurs exploit an opportunity through ‘Creative destruction.’

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8
Q

What is Kihlstrom & Lamont’s (1979) view on entrepreneurs?

A

According to Kihlstrom & Lamont (1979), entrepreneurs profit from risk.

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9
Q

What is Casson’s (1982) view on entrepreneurs?

A

According to Casson (1982), entrepreneurs make judgments on the coordination of scarce resources.

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10
Q

What is Drucker’s (1985) definition of entrepreneurs?

A

According to Drucker (1985), entrepreneurs endow existing resources with new wealth-producing capacity.

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11
Q

What is Rumelt’s (1987) definition of entrepreneurs?

A

According to Rumelt (1987), entrepreneurs start new businesses.

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12
Q

What is Low & MacMillan’s (1988) definition of entrepreneurs?

A

According to Low & MacMillan (1988), entrepreneurs create new enterprises.

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13
Q

What is Stevenson et al.’s (1989) definition of entrepreneurs?

A

According to Stevenson et al. (1989), entrepreneurs pursue an opportunity without concern for current resources or capabilities.

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14
Q

What is Timmons’s (1997) definition of entrepreneurs?

A

The text was cut off, so the definition of entrepreneurship according to Timmons (1997) is not available.

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15
Q

What is Morris’s (1998) definition of entrepreneurs?

A

The text was cut off, so the definition of entrepreneurship according to Morris (1998) is not available.

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16
Q

How was Uber founded?

A

Uber was founded with $200,000 and was valued at $66 billion in 2016.

17
Q

What niche does Uber exploit?

A

Uber exploits a niche for easy, app-based luxury car hire and destroys conventional taxi systems.

18
Q

What types of risks do Uber’s entrepreneurs take?

A

Uber’s entrepreneurs take financial, legal, and technological risks.

19
Q

What judgments do Uber’s entrepreneurs make?

A

Uber’s entrepreneurs make judgments on the coordination of scarce resources like legal battles, treatment of drivers, tech development, data management, and safety.

20
Q

What is the topic of the University of Nottingham presentation dated 10/10/2023?

A

The topic of the presentation is ‘Uber as an Example of Entrepreneurship.’

21
Q

Who is the speaker for this presentation?

A

The speaker is José González López.

22
Q

How can you contact the speaker?

A

You can contact the speaker via email at Jose.GonzalezLopez2@nottingham.ac.uk.

23
Q

What is Drucker’s (1985) definition of entrepreneurs?

A

According to Drucker (1985), entrepreneurs have the power to endow existing resources with new wealth-producing capacity.

24
Q

What is Rumelt’s (1987) definition of entrepreneurs?

A

According to Rumelt (1987), entrepreneurs create businesses that must be novel.

25
Q

What is Low & MacMillan’s (1988) definition of entrepreneurs?

A

According to Low & MacMillan (1988), entrepreneurs create new enterprises.

26
Q

What is Stevenson et al.’s (1989) definition of entrepreneurs?

A

According to Stevenson et al. (1989), entrepreneurs pursue opportunities without concern for current resources or capabilities.

27
Q

What is Timmons’s (1997) definition of entrepreneurs?

A

According to Timmons (1997), entrepreneurs lead into opportunity.

28
Q

What is Morris’s (1998) definition of entrepreneurs?

A

According to Morris (1998), entrepreneurs utilize a package of unique resources to exploit an opportunity.

29
Q

What are the key components crucial for Uber’s business?

A

The key components crucial for Uber’s business are private cars, smartphones, and people. Additionally, it is a pioneer in the ‘Sharing Economy.’

30
Q

What were Uber’s financials for Q4 2019?

A

In Q4 2019, Uber had a net loss of 1.1 billion and faced regulatory issues in many locations, such as London.

31
Q

What does the organizational perspective focus on?

A

The organizational perspective focuses on what happens within an organization to transform inputs into outputs.

32
Q

Why did investors continue to invest in Uber despite its net loss in Q4 2019?

A

Investors continue to invest in Uber despite its net loss because they believe in its long-term potential, highlighting the importance of venture capital and risk in entrepreneurship.

33
Q

What is the importance of human capital in entrepreneurship, according to the presentation?

A

According to the presentation, the expertise, experience, and connections of the founders are as crucial as the tangible resources for entrepreneurship.

34
Q

What are the reflection and individual work questions proposed in the presentation?

A

The questions for reflection and individual work are: 1) Why do we keep focusing on the entrepreneur when discussing entrepreneurship? 2) Do any of these definitions feel definitive? Why or why not? 3) Pick another company that you think of as entrepreneurial and compare it to these definitions. 4) Pick a social enterprise like The Big Issue and compare it to these definitions.

35
Q

What are the closing remarks of the presentation?

A

The closing remarks mention that the presentation mainly focused on entrepreneurs rather than entrepreneurship. This nuance is significant in academic literature and will be revisited in future discussions.

Theory of Entrepneurship (10 decks)

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