INTRODUCTION TO ENTREPRENEURSHIP
ENTREPRENEURIAL PROCESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Richard Cantillon
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Jean Batiste Say
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Peter Drucker
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Max Weber
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Detailed explanation-1: -Richard Cantillon (1755) is credited with the discovery of economic theory and was the first to fully consider the critical role of entrepreneurship in the economy. Cantillon described entrepreneurship as pervasive and endowed the entrepreneur with the most pivotal role.
Detailed explanation-2: -Richard Cantillon, (born 17th century, Ballyheige, County Kerry, Ire.-died May 14, 1734, London), Irish economist and financier who wrote one of the earliest treatises on modern economics. Cantillon was an Irishman of Norman origins and Jacobite connections who spent much of his life in France.
Detailed explanation-3: -1)Innovation Entrepreneurship theory According to Schumpeter, entrepreneurs take the stationary economy to a new level of development by adding innovation and creativity of their own. Schumpeter also stated that entrepreneurs bring innovation in two ways namely: By reducing the cost of production.