Session 1: Introduction to Entrepreneurship

Question 1

Entrepreneurship

Answer 1

Entrepreneurship is the examination of how, by whom, and with what effects opportunities to create future goods and services are discovered, evaluated, and exploited

Question 2

The Nature of Entrepreneurship

Answer 2

Entrepreneurial opportunities, action, thinking

Question 3

How do Entrepreneurs differ from non-entrepreneurs?

Answer 3

• Personality characteristics

- Socio-economic characteristics

Question 4

Paper: Shane und Venkataraman (2000)

Answer 4

• There must be a conceptual framework that explains and predicts a set of empirical phenomena not explained before

Question 5

Definition: Entrepreneurship as a field of research

Answer 5

The authors understand entrepreneurship as the examination of how, by whom, and with what effects opportunities to create future goods and services are discovered, evaluated, and exploited

Question 6

1. Existence of Opportunities

Answer 6

Opportunities are situations in which new goods, services etc. can be introduced and sold at greater than their cost of production.

Question 7

2. Discovery of opportunities

Answer 7

Profit can only be earned, if the opportunity exists and has value.

Question 8

3. Decision to exploit opportunities

Answer 8

Characteristics of opportunities influence the willingness of people to exploit them.

Question 9

Paper: Sarasvathy (2001)

Answer 9

I argue that an explanation for the creation of such artifacts requires the notion of effectuation.