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Questions and Answers
According to Bruyat & Julien (2000), what is one of the diverging views on the entrepreneur in the field of entrepreneurship?
According to Bruyat & Julien (2000), what is one of the diverging views on the entrepreneur in the field of entrepreneurship?
- The entrepreneur is solely an innovator and changes the economy
- The entrepreneur is a disruptor of existing businesses
- The entrepreneur creates and develops new businesses of any kind (correct)
- The entrepreneur is only a manager of existing businesses
How does Schumpeter's view of the entrepreneur differ from Targot & Say's?
How does Schumpeter's view of the entrepreneur differ from Targot & Say's?
- Schumpeter's view prioritizes incremental changes in the economy
- Schumpeter's view highlights the importance of managerial skills
- Schumpeter's view emphasizes reforming or revolutionizing the productive system (correct)
- Schumpeter's view focuses on creating small-scale businesses
What is a key idea shared by researchers in the field of entrepreneurship, according to the text?
What is a key idea shared by researchers in the field of entrepreneurship, according to the text?
- The individual is an important element in the creation of new value (correct)
- Entrepreneurs do not contribute to the proper operation of the economy
- The environment has no impact on the number of entrepreneurs in a region
- The individual's role in entrepreneurship is insignificant
What is the primary project of entrepreneurship researchers, as stated in the text?
What is the primary project of entrepreneurship researchers, as stated in the text?
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When can someone be called an entrepreneur?
When can someone be called an entrepreneur?
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Study Notes
Understanding Entrepreneurship and New Value Creation
- Two diverging views on the entrepreneur in entrepreneurship: creation and development of new businesses (Targot & Say) and innovating and changing the economy (Cantillon & Schumpeter)
- Schumpeter's functionalist view: entrepreneurs reform or revolutionize the productive system and are only considered entrepreneurs while performing that function
- Key shared ideas in entrepreneurship research: the individual's importance in creating new value, the non-mechanical nature of individuals, and the role of environmental resources in increasing the number of entrepreneurs in a region
- The project of entrepreneurship researchers: understanding or predicting the phenomenon of new value creation by individuals, and understanding or predicting their success, failure, or performance
- The entrepreneur is responsible for the process of creating new value, initially as a single individual
- Someone who hasn't created new value yet cannot be called an entrepreneur
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