INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Yes
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No
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Either A or B
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None of the above
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Detailed explanation-1: -This paper examines the impact of Joseph Schumpeter, one of the main “knowledge producers” whose concepts and ideas on the entrepreneur, entrepreneurship and innovation have shaped the discipline and much of the research on entrepreneurship, and has influenced the thought on other areas of management.
Detailed explanation-2: -Joseph Schumpeter equated entrepreneurship with the concept of innovation applied to a business context. As such, the entrepreneur moves the market away from equilibrium. Schumpter’s definition also emphasized the combination of resources.
Detailed explanation-3: -The entrepreneur brings along something new, a new source of profit, say’s Schumpeter. Joseph Schumpeter, an Austrian, a distinguished economist and father of entrepreneurship and innovation research.