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New Venture Creation

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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?

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?

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?

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?

<p>Understand or predict the phenomenon of new value creation initiated by individuals</p> Signup and view all the answers

When can someone be called an entrepreneur?

<p>After creating new value</p> Signup and view all the answers

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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Description

Test your knowledge on New Venture Creation with this quiz summarizing Bruyat and Julien's (2000) diverging views on entrepreneurship. Explore the definitions of an entrepreneur as either a business creator or an economy-changing innovator. Ideal for students preparing for NVC finals.