Chapter 1 - What is entrepreneurship?

Question 1

Name the four traditions

Answer 1

1. Economic
2. Social-pshychological
3. Emergence
4. Opportunity

Question 2

Describe the economic tradition

Answer 2

• The entrepreneur is a person who obtains and distributes resources at risk, bringing the economy towards equilibrium
• Someone to plants, supervises, organises or own factors of production
• Three types of uncertainty
• the entrepreneur bears no uncertainty about the economy (Schumpeter)

Question 3

Describe the social-psychological tradition

Answer 3

-	Personality traits: 
Need to accomplish
Self- efficiency
Autonomous 
Risk-taker
Locus of control

• The Achieving Society kick-started these thoughts. (McClelland 1961)

Question 4

Describe the emergence tradition

Answer 4

• Entrepreneurship is an organizing process that leads to specific results: business/organization. “The creation of new organizations”
• From individuals to the entrepreneurial process
• ”What distinguishes entrepreneurs from non-entrepreneurs is not personality traits but the fact that entrepreneurs form new organisations”

Question 5

Describe the opportunity tradition

Answer 5

• Entrepreneurship “discovery, evaluation and exploitation of opportunities to introduce new goods and services, ways of organizing, markets, process and raw materials.”
• Creativity and innovation and the potential to change existing economic market conditions
• Opportunities are created by the actions of entrepreneurs

Question 6

The three steps of the entrepreneurial process?

Answer 6

• Opportunity organising
• Opportunity evaluation
• Opportunity emergence

Question 7

Name the five themes that influences entrepreneurial process

Answer 7

1) The individual – initiator and creator
2) Resources – discovering an opportunity and organising it (human, social & financial resources)
3) Network- Interaction with banks, customers, consultants etc.
4) The business plan - Planning
5) Design thinking – a problem solving approach

Question 8

Describe opportunity emergence

Answer 8

the process in which the opportunity emerges led by individuals who discover or create the opportunity;

Question 9

Describe opportunity evaluation

Answer 9

the process in which the entrepreneur evaluates to what extent the idea represents an attractive opportunity; Legitamacy or Instrumental appraoch

Question 10

Describe a business idea that you do not think would be accepted or work in the swedish market. Discuss why and base you answer on possibilities and context.

Question 11

Describe the business plan’s role in the entrepreneurial process

Question 12

How does the four historical traditions complement each other? Discuss

Question 13

Describe shortly on how a business plan could harm the development of an entrepreneurial opportunity and argue on why the business plan could be harmful in this case

Question 14

Is generating a business idea a collective or individual act?

Question 15

Describe how feminine and masculine behaviours can influence the entrepreneurial process

Question 16

• Does women need to display masculine characteristcs to garner more interest and support? Discuss

Question 17

Describe the framework for new financial alternatives (Bruton et al 2015)

Question 18

Describe how Davidsson think that discovery and creation should be replaced by more productive perspectives

Question 19

Describe venture creation (Davidsson 2021)

Answer 19

Ex. Organised activity. The journey from non-existence toward viable existence. From the former to the latter.