The Promise of Entrepreneurship as a Field of Research

Literature Summary THE PROMISE OF ENTREPRENEURSHIP AS A FIELD OF RESEARCH 1.0 Introduction To date, the phenomenon of entrepreneurship has lacked a conceptual framework. A research has been conducted in the difference affable science disciplines and applied fields of business to create a conceptual framework for entrepreneurship. 2.0 Definition of Entrepreneurship Entrepreneurship is defined solely by the researchers in terms of who the entrepreneur is and what he or she does. The count of entrepreneurship must involve two phenomena, the front line of lucrative opportunities and the presence of enterprising individuals. In opposite words we can range that an entrepreneur is a person who establishes a new musical arrangement in the presence of lucrative opportunities. They are different from other members in society as they are willing to defy risks in creating new business and they prefer uncertainty. Therefore, the field involves the postulate of sources of opportunities, the processes of discovery, evaluation and exploitation of opportunities and the set of individuals, who discover, evaluate and exploit them. The numeral of people who engage in entrepreneurial behavior ranges from 20% of the population to over 50% of the population.

Entrepreneurship is not only including the knowledgeability of new organizations, but can also occur inwardly an existing organization. 3.0 Reasons to Study Entrepreneurship There are three reasons for perusing entrepreneurship. Firstly, entrepreneurship is a mechanism by which society converts technical study into products and services. Secondly, entrepreneurship is a mechanism through which temporal and spatial inefficiencies in an economy are discovered and mitigated. Finally, of the different sources of change in a capitalist society, innovation is driven in products and processes. Therefore, the absence of entrepreneurship in economy makes the business landscape incomplete. 4.0 The Existence, Discovery, and Exploitation of... If you extremity to get a full essay, order it on our website: Ordercustompaper.com

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