2. The nature, growth and cultural diversity of entrepreneurship Flashcards
Who is “The father of entrepreneurship”?
Richard Cantillon
Who said “Entrepreneurs are non-fixed income earners who pay known costs of production but earn uncertain incomes”
Richard Cantillon
Who said “An entrepreneur is an economic agent who unites all means of production”
Jean- Baptiste Say
Who said “Entrepreneurs are innovators who use a process of shattering the status quo of the existing products and services, to set up new products, new services “the gale of creative destruction”
Joseph Schumpeter
Who said “An entrepreneur is a person with a high need for achievement. He is energetic and a moderate risk taker.”
David Mc Clelland
Who said “An entrepreneur searches for change, responds to it and exploits opportunities.”
Peter Drucker
Who said “Entrepreneurship is the pursuit of opportunity without regard to resources currently controlled.”
Howard Stevenson
Who said “Entrepreneurs take initiative, accept risk of failure and have an internal locus of control.”
Albert Shapero
Who said “An Entrepreneur is someone who commercializes his or her innovation.”
Ronald May
Reasons for the development of entrepreneurship:
(ii) culture and tradition
(iii) poverty
(iv) desire for wealth
Name the (6) Emerging drivers of contemporary entrepreneurship.
- ICT
- Globalization
- Changing demands
- Unemployment
- Changing demographics
- Institutional support
- Ease of entry in the informal sector
List the (3) main roles of entrepreneurship in national and regional development
- Impact on job creation
- Growth in GDP
- Social development (social entrepreneurship)
List some of the (10) Emerging areas for enterprise development.
- Creative and cultural industries
- Renewable energy
- Agro-preneurship
- ICT
- Health and fitness
- Beauty and wellness
- Sport
- Food and beverages (some areas)
- Automation
- Tourism
List the (5) Areas of Cultural diversity of Entrepreneurship
(a) Gender and entrepreneurship.
(b) Youth and entrepreneurship.
(c) Ethnicity and entrepreneurship.
(d) Family and entrepreneurship.
(e) Religion and entrepreneurship.
