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Audretsch defines the entrepreneur as the missing link between investment in knowledge and growth. It is the entrepreneur who adds value to scientific discovery. Entrepreneurship capital is then, just as capital and labor in a macroeconomic model, an essential factor of production in the economy. [16]
They are rewarded for this effort monetarily and therefore both the consumer of the value created and the entrepreneur benefit. The entrepreneur is a factor in and the study of entrepreneurship reaches back to the work of Richard Cantillon and Adam Smith in the late 17th and early 18th centuries. However, entrepreneurship was largely ignored ...
Entrepreneurial leadership is (as per Roebuck's definition) "organizing a group of people to achieve a common goal using proactive entrepreneurial behavior by optimising risk, innovating to take advantage of opportunities, taking personal responsibility and managing change within a dynamic environment for the benefit of [an] organisation". [1]
Similarly, the formation of these ecosystems suggests that governments or societal leaders who want to foster more entrepreneurship as part of economic policy must strengthen several such elements simultaneously. However, recent research shows that government policy is often limited in what it can do to develop entrepreneurial ecosystems. [5]
Peter Lewis is an entrepreneur, consultant, and father who starts work at 4 a.m. and makes other key adjustments to balance fatherhood and his job.
A startup or start-up is a company or project undertaken by an entrepreneur to seek, develop, and validate a scalable business model. [1] [2] While entrepreneurship includes all new businesses including self-employment and businesses that do not intend to go public, startups are new businesses that intend to grow large beyond the solo-founder. [3]
Intrapreneurship is the act of behaving like an entrepreneur while working within a large organization. Intrapreneurship is known as the practice of a corporate management style that integrates risk-taking and innovation approaches, as well as the reward and motivational techniques, that are more traditionally thought of as being the province of entrepreneurship.
An entrepreneur is further defined by Say as someone who "shifts economic resources out of an area of lower and into an area of higher productivity and greater yield." [ 41 ] The difference between "entrepreneurship" and "social entrepreneurship", however, stems from the purpose of a creation.