Enter the email address you signed up with and we'll email you a reset link. Need an account? Click here to sign up. Download Free PDF. Exploring Entrepreneurship 2nd edition Richard Blundel. Nigel Lockett. Catherine Wang. A short summary of this paper. Exploring Entrepreneurship 2nd edition. This short opening chapter will provide you with a general introduction to entrepreneurship, an outline of our approach to the subject and some essential tools and guidance for exploring the subject further.
Though there is an enormous amount of variety in our subject, there are also some common patterns to discover, and many useful lessons to be drawn from the research evidence. The rest of the chapter is organised as follows. In Section 1. Section 1. It might be reasonable to expect a textbook to be mapping out the scope of the field at this point, and providing its readers with some clear, unambiguous definitions of the key terms.
Unfortunately, things are not that simple. Today, entrepreneurship researchers, policy-makers, and practitioners are still strug- gling with this slippery concept, and there is a continuing lack of agreement over the meaning of these terms.
So how should we approach the terminology? Clearly, it would be easier if we provided you with one universally accepted definition, but that would also be very misleading. The best approach is to recognise that people may use the same words, yet understand them differently.
This is not a major problem because, as we shall discover, the range of interpretations is quite limited. However, it is important to be aware of these differences as you read about entrepreneurship, or listen to people talking about the subject. If you are still not sure about the definition that is being used, bear this in mind when you interpret their comments. Additional explanations of these and other key terms can be found in the Glossary at the end of the book see p.
Since our book is called Exploring Entrepreneurship, we are keen for you to keep an open mind on their precise meaning and scope for the time being. However, it also seems reasonable to offer you some working definitions as a starting- point for your studies.
Then, as you discover more about entrepreneurship in the remaining chapters, you can develop a more fully rounded understanding of each term. For example, in North America, it is often used to describe anyone who establishes their own business, whatever its size.
But does it make sense to use the same word to describe a year-old billionaire who has set up five Internet businesses and the year-old, the semi-retired owner of a small picture-framing business, or a year-old who sets up a community-based enterprise to provide work opportunities for homeless people? The main counter-argument is that, while there may be considerable differences between them, there are also some common features that are worthy of more detailed examination.
We will adopt this OECD wording as our working definition, but how do we resolve the problem of distinguishing between different types of entrepreneur? The most common solution is to insert adjectives based on the sort of activity that is taking place.
In this sense, entrepreneurship is a phenomenon that manifests itself throughout the economy and in many dif- ferent forms with many different outcomes, not always related to the creation of financial wealth; for example, they may be related to increasing employment, tackling inequalities or environmental issues.
It recognises that, while the activities of individual entrepre- neurs clearly play a central role, the entrepreneurship process extends beyond the individual, to teams, organisations, social networks, and institutions e. While founding a small firm or social enter- prise might in itself be described as an entrepreneurial act, the owners and managers often settle into a relatively stable routine and may even actively resist opportunities for further growth.
The OECD-Eurostat definition recognises this distinction between entrepreneurial activity, which it sees as generating additional value by expanding economic activity, and the ongoing management of an existing firm. It is also interest- ing to note how the OECD-Eurostat definition acknowledges different outcomes of entrepreneurial activity, other than simply the generation of financial wealth.
Though this English word is clearly derived from the same French source, a great deal of time and effort has been spent in attempts to differentiate it from the others. As a noun, the word is normally refers to a particular business venture. It is important to recognise that there is more than one way of acting entrepreneurially. As a consequence, the world of entrepreneurship is not exclusive: it is open to a very wide range of people.
Entrepreneurial activity can take place in many dif- ferent settings. You can also find entrepreneurial activity taking place in established organisations, including large corporations, government agencies and charities. Wherever it takes place, it will be possible to find some common entrepreneurial features. However, as we will see in Chapter 2, the context is also likely to exert a powerful influence on the kind of activity that occurs, the potential for growing it into a successful venture, and in terms of its economic, social, and environmental impact.
Many small start-up ventures begin as unincorporated businesses; in other words, they do not have a separate legal identity from that of the individual founder. This might avoid some of the paperwork involved in creating a limited company, but it does mean that the founder is personally liable for all of the debts of the business and would need to repay its creditors i. As they become established, start-ups are often converted into limited companies, though many smaller businesses remain unincorporated for the whole of their existence.
Entrepreneurial activity can be inspired by the pursuit of some radically different goals. For example, a team of university scien- tists may be motivated by the opportunity to launch an innovative pharmaceutical product. If the product is successful, it may save or improve the quality of many lives. In addition, the commercialisation of their intellectual property may also provide the scientists with considerable personal wealth.
Author : Timothy S. Current issues including global opportunities, service, quality and technology are highlighted throughout the text, and the Third Edition features an increased emphasis on small business ownership by women and minority groups. Additional coverage is given to the new Small Business Administration size standards, creating a personalized business plan, and e-commerce.
A full chapter is devoted to creating a business plan. Two complete plans written by undergraduate students appear in the text—one designed for a service business, the other for a retail establishment. Electronic Business Plan Templates are also available online.
Eduspace course management system. Get A Copy. Paperback , pages. Published July 31st by Planning Shop first published April 16th More Details Other Editions 4. Friend Reviews. To see what your friends thought of this book, please sign up. To ask other readers questions about Entrepreneurship , please sign up.
Lists with This Book. This book is not yet featured on Listopia. Add this book to your favorite list ». Community Reviews. Showing Rating details. More filters. Sort order. This was one of the less-dry books on entrepreneurship that I have read. I learned a lot. Robert rated it liked it Oct 27, Meagan rated it it was amazing Feb 28, Kilgus Ph.
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