Lesson 1 Entrepreneurship Flashcards
the act of creating a business or businesses while building and scaling it to generate a profit.
Entrepreneurship
An important driver of economic growth and innovation
Entrepreneurship
concrete manifestations of entrepreneurship.
Small and Medium Enterprises (SMEs)
means “to undertake”
“ENTREPRENDRE”
enterprise is created by
an entrepreneur.
Having profits from bearing uncertainty and risk.
Knight (1921)
Carrying out of new combinations of firm organization
Schumpeter (1934)
Uncertainty bearing coordination of productive resources.
Hoselitz (1952):
Purposeful activity to initiate and develop a profit-oriented business
Cole (1959)
A kind of behavior that includes: (1) Initiative taking, (2) the organizing and reorganizing of social economic mechanism
Shapero (1975)
Decisions and judgements about the coordination of scarce resources
Casson (1982)
Dynamic process of creating incremental wealth
Ronstadt (1984)
Behavior rather than personality trait
Drucker (1985)
Process of creating something new with value by devoting the necessary time and effort
Hisrich & Brush (1985)
Pursuit of opportunity without regard to resources currently controlled.
Stevenson & Grousebeck (1989)
constrained by the founder’s previous choices and industry related experience
Hart, Stevenson, and Dial (1995)
An activity that involves the discovery, evaluation, and exploitation of opportunities
Shane (2003)
Dynamic process of vision, change, and creation
Kuratko (2009)
Conceiving an opportunity to offer new or improved goods or services
Dyck and Neubert (2012)
one of the friendliest countries for entrepreneurs in the world.
UNITED STATES
manufacture different products that range from toys, gadgets and electronics, and cars.
CHINA
a small country that controls a significant portion of the economy in Asia.
SINGAPORE
exploring opportunities over the internet
CANADA
a foundation and catalyst for economic growth and innovation across nations.
Entrepreneurship
wood carving skills and entrepreneur are selling their products online.
Sanikiluaq
plays a dominant role in the country’s economic landscape with the government providing the venue called Delhi Huts
INDIA
is one of the countries in the Asia-Pacific rim with a strong base of entrepreneur led by the youth and the women.
INDIA
encouraged here through the small and medium enterprise incubation centers for the purpose of nurturing young firms, new products, and technologies.
TAIWAN
utilizes its human resources to make its economy the best possible through entrepreneurship
HONGKONG
The extent of government support to entrepreneurs is very evident in
THAILAND
. Tourism for the international markets and agricultural exports are two major sources of income generated by……
Thai entrepreneurs.
This country emerged from the Asian financial crisis better than any other country
SOUTH KOREA
This country is becoming friendlier to entrepreneurs
MALAYSIA
taking moderate risks
Mc Leland (1961)
common elements in all those entrepreneurship definitions
Innovation
Opportunity seeking and exploitation
Resource Mobilizing
Encountering risks and uncertainties
Economic and personal
Rewards
