ENTRE 4th maste Flashcards
The Merchant from venice who travelled to many places in Asia to trade
Marco Polo (1254-1324)
Based on this period entreprenuer is a person who sells goods on behalf of the goods owner.
The Earliest Period
Based on this period the term entrepreneur was used to describe both an actor and a person who was in charge of and managed large production projects.
The middle ages
Based on this period entrepreneurship has become associated with risk. The entrepreneur was someone who would enter into a formal agreement with the government to provide products or services
17th century
an economist who viewed the entrepreneur as a risk taker and a bearer of uncertainty
Richard Cantillon
A prominent theorist during the 17th century
Richard Cantillon 1680-1734
Based on this period the entrepreneur was distinguished from the capitalist who simply provides money for the creation of products to be sold
18th century
A french economist and business man, dedscribed the entrepreneur as a person who plays a central coordinating role both in producing and selling goods. He was someone who coordinating role both in producing and selling goods. He was someone who coordinates, leads, and manages all the activities of the firm
Jean-Baptiste Say(1767-1832)
an Austrian-Hungarian-American economist and political scientist, refuted the idea of entrepreneurship as manager of the firm, and espoused the concept of the entrepreneur as innovator who seeks opportunities and leads “existing means of production into new channels.” “The entrepreneur is neither a risk bearer nor a manager or capitalist.”
Joseph Schumpeter
Came up with a behavioral concept of the entrepreneur-one who actually searches for change, respond to it, and exploits change as an opportunity.
Peter Drucker
Wherein goods and services were the means of exhanges
Barter system
Became the embodiment of entrepreneurship in the country
Small and medium enterprises
