Introduction to Entrepreneurship
Katherine Carpenter, University of Victoria
Copyright Year: 2021
ISBN 13: 9781989864500
Publisher: Kwantlen Polytechnic University
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Learn more about reviews.
Reviewed by Mary Hill, Lecturer II, University of New Mexico on 5/12/23
no index or glossary found. as indicated by the title - this is an early introduction to the subject. read more
Comprehensiveness rating: 4 see less
no index or glossary found. as indicated by the title - this is an early introduction to the subject.
Content Accuracy rating: 5
very accurate from my perspective as a person who has taught entrepreneurship for health care professions students for 10 years.
Relevance/Longevity rating: 5
very relevant. Able to be updated without difficulty.
Clarity rating: 5
Consistency rating: 5
very consistant .
Modularity rating: 5
easily broken into small pieces.
Organization/Structure/Flow rating: 5
well organized. It is 67 pages and gives a very early introduction to the subject.
Interface rating: 4
Modules 1 and 2 are masterfully designed and easy to navigate with clear paths. Likely, course instructors would wish to have other specific course assignments as the assignments within the book do not relate to concrete/crystalized knowledge, but on reflection (which may be less productive for some learners). If the book is downloaded as a .pdf, then the phrase "One or more interactive elements has been excluded..." appear 2-3 times per page on the .pdf. Effectively, the .pdf is not a full text of the course. When the course is viewed through the pressbooks interface, then interactive questions, well shot video transcripts and attractive visuals improve the material. Some aspects of the pressbooks interface are less intuitive to navigate. For example, the interactive business design in unit 3 focuses on sustainable development goals (SDGs). I like the connection of SDGs to entrepreneurship, but the entry level questions are difficult to navigate and are not geared to a novice learner (as the name "introduction to entrepreneurship" would indicate. The entrepreneurship plan in chapter 4 has many components bout entrepreneurship philosophy that will help learners consider what they need in order to create their endeavor. Absent, however, are the government permits / supports / business license logistics that sometimes are the reasons that businesses fail.
Grammatical Errors rating: 5
Cultural Relevance rating: 5
No cultural offense observed (from my perspective of a person of priveledge). Authors made effort to not to highlight any gender or any cultural accomplishments over others.
I will incorporate components in the chapter 4 entrepreneurial plan into my course on health care private practice entrepreneurship.
Reviewed by Christina Wooten, Business Technology Faculty, Rogue Community College on 3/30/23
The text is a good introduction and covers several high-level topics that pertain to entrepreneurship. There are many more topics that could be added to this text. It may not be sufficient to support an entire course. There is not a glossary... read more
Comprehensiveness rating: 3 see less
The text is a good introduction and covers several high-level topics that pertain to entrepreneurship. There are many more topics that could be added to this text. It may not be sufficient to support an entire course.
There is not a glossary or index available.
Content Accuracy rating: 4
The text appears accurate and unbiased. I did note a few writing errors in the text (missing period, additional period, etc.)
Relevance/Longevity rating: 4
There are some references in the transcripts, text, and videos that could make the text obsolete. These references could also be confusing or non-inclusive to some students. "...someone who goes on Dragon's Den" These type references are limited to the introductory section of the text.
Clarity rating: 4
Overall, the text/transcripts/videos are clear. The final sections (3 and 4) do have sections that are not as clear. In 3.1 and 3.2 (The Entrepreneurial Process) there are some areas that could benefit from careful revision. These sections (3.1 and 3.2) also lack substantial videos that could help the learner connect the ideas.
The book is consistent in terms of framework and terminology.
The text/transcripts/videos are easily divisible into sections. The creator did a nice job segmenting the material. The material is organized in a way that engages the reader visually. There are quizzes embedded in the material that do not cause disruption to the reader/viewer. The overall work is segmented into clearly defined and numbered sections. There is a particularly helpful activity throughout the text called: "Read/Watch/Listen – Reflect" where the learner has an opportunity to read articles, watch videos, listen to podcasts and then reflect (journal) their thoughts in a writing activity. The resources linked in this activity throughout the text are splendid!
The topics are presented in a logical, clear fashion . The final project is also clearly defined and well-presented.
Interface rating: 5
This material appears free of interface issues on a PC. There are no distortions of images or text.
Grammatical Errors rating: 4
Text/transcripts free of grammatical errors. There are, as previously referenced, a few writing errors that could be addressed in a revision.
I found no evidence of insensitive or offensive information in my review.
While I do not feel that this book would be enough material to support a quarter-long class, I do feel it has ample information in it to be a part of a class. The layout and delivery of the material is user-friendly. There are multiple modes of delivery used (video, written lecture, and transcript of videos) available to the learner. This text is one I will use to supplement the Entrepreneurship course I teach.
Table of Contents
- 1. Defining Entrepreneurship
- 2. The Role Entrepreneurs have in Today’s Society
- 3. Different types of Entrepreneurship
- 4. Entrepreneurial Traits, Skills and Abilities
- 5. The Entrepreneurial Mindset
- 6. Creativity and Innovation in Entrepreneurship
- 7. Entrepreneurial Process
- 8. Unit 4 Assignment Preparation
- 9. Unit 4 Assignment Delivery: Entrepreneurial Plan
- 10. Course Wrap up and Reflection
- Submit ancillary resource
About the Book
Learn about entrepreneurship and what makes entrepreneurs successful, all while developing your entrepreneurial skills.
About the Contributors
Katherine Carpenter (Cochrane) has an MBA from the University of Victoria and has been a full-time Faculty Member with Kwantlen Polytechnic University since 2020. Katherine has over 12 years of experience teaching in-person and online and delivering advisory projects to various entrepreneurial organizations. In addition to entrepreneurship, her areas of expertise include student engagement, online learning, program development and renewal, and instructional design.
Katherine is currently a developer in the Open Education for a Better World mentoring program and is a 2021 OER Grant Recipient through the KPU Open Education Working Group. When she’s not instructing with KPU, Katherine also teaches at other public and PVI organizations across the country, and advocates for UDL, open education, online delivery, and continuously improving programs to meet the needs of those learners worldwide.
Contribute to this Page
- 11.4 The Business Plan
- 1.1 Entrepreneurship Today
- 1.2 Entrepreneurial Vision and Goals
- 1.3 The Entrepreneurial Mindset
- Review Questions
- Discussion Questions
- Case Questions
- Suggested Resources
- 2.1 Overview of the Entrepreneurial Journey
- 2.2 The Process of Becoming an Entrepreneur
- 2.3 Entrepreneurial Pathways
- 2.4 Frameworks to Inform Your Entrepreneurial Path
- 3.1 Ethical and Legal Issues in Entrepreneurship
- 3.2 Corporate Social Responsibility and Social Entrepreneurship
- 3.3 Developing a Workplace Culture of Ethical Excellence and Accountability
- 4.1 Tools for Creativity and Innovation
- 4.2 Creativity, Innovation, and Invention: How They Differ
- 4.3 Developing Ideas, Innovations, and Inventions
- 5.1 Entrepreneurial Opportunity
- 5.2 Researching Potential Business Opportunities
- 5.3 Competitive Analysis
- 6.1 Problem Solving to Find Entrepreneurial Solutions
- 6.2 Creative Problem-Solving Process
- 6.3 Design Thinking
- 6.4 Lean Processes
- 7.1 Clarifying Your Vision, Mission, and Goals
- 7.2 Sharing Your Entrepreneurial Story
- 7.3 Developing Pitches for Various Audiences and Goals
- 7.4 Protecting Your Idea and Polishing the Pitch through Feedback
- 7.5 Reality Check: Contests and Competitions
- 8.1 Entrepreneurial Marketing and the Marketing Mix
- 8.2 Market Research, Market Opportunity Recognition, and Target Market
- 8.3 Marketing Techniques and Tools for Entrepreneurs
- 8.4 Entrepreneurial Branding
- 8.5 Marketing Strategy and the Marketing Plan
- 8.6 Sales and Customer Service
- 9.1 Overview of Entrepreneurial Finance and Accounting Strategies
- 9.2 Special Funding Strategies
- 9.3 Accounting Basics for Entrepreneurs
- 9.4 Developing Startup Financial Statements and Projections
- 10.1 Launching the Imperfect Business: Lean Startup
- 10.2 Why Early Failure Can Lead to Success Later
- 10.3 The Challenging Truth about Business Ownership
- 10.4 Managing, Following, and Adjusting the Initial Plan
- 10.5 Growth: Signs, Pains, and Cautions
- 11.1 Avoiding the “Field of Dreams” Approach
- 11.2 Designing the Business Model
- 11.3 Conducting a Feasibility Analysis
- 12.1 Building and Connecting to Networks
- 12.2 Building the Entrepreneurial Dream Team
- 12.3 Designing a Startup Operational Plan
- 13.1 Business Structures: Overview of Legal and Tax Considerations
- 13.2 Corporations
- 13.3 Partnerships and Joint Ventures
- 13.4 Limited Liability Companies
- 13.5 Sole Proprietorships
- 13.6 Additional Considerations: Capital Acquisition, Business Domicile, and Technology
- 13.7 Mitigating and Managing Risks
- 14.1 Types of Resources
- 14.2 Using the PEST Framework to Assess Resource Needs
- 14.3 Managing Resources over the Venture Life Cycle
- 15.1 Launching Your Venture
- 15.2 Making Difficult Business Decisions in Response to Challenges
- 15.3 Seeking Help or Support
- 15.4 Now What? Serving as a Mentor, Consultant, or Champion
- 15.5 Reflections: Documenting the Journey
- A | Suggested Resources
By the end of this section, you will be able to:
- Describe the different purposes of a business plan
- Describe and develop the components of a brief business plan
- Describe and develop the components of a full business plan
Unlike the brief or lean formats introduced so far, the business plan is a formal document used for the long-range planning of a company’s operation. It typically includes background information, financial information, and a summary of the business. Investors nearly always request a formal business plan because it is an integral part of their evaluation of whether to invest in a company. Although nothing in business is permanent, a business plan typically has components that are more “set in stone” than a business model canvas , which is more commonly used as a first step in the planning process and throughout the early stages of a nascent business. A business plan is likely to describe the business and industry, market strategies, sales potential, and competitive analysis, as well as the company’s long-term goals and objectives. An in-depth formal business plan would follow at later stages after various iterations to business model canvases. The business plan usually projects financial data over a three-year period and is typically required by banks or other investors to secure funding. The business plan is a roadmap for the company to follow over multiple years.
Some entrepreneurs prefer to use the canvas process instead of the business plan, whereas others use a shorter version of the business plan, submitting it to investors after several iterations. There are also entrepreneurs who use the business plan earlier in the entrepreneurial process, either preceding or concurrently with a canvas. For instance, Chris Guillebeau has a one-page business plan template in his book The $100 Startup . 48 His version is basically an extension of a napkin sketch without the detail of a full business plan. As you progress, you can also consider a brief business plan (about two pages)—if you want to support a rapid business launch—and/or a standard business plan.
As with many aspects of entrepreneurship, there are no clear hard and fast rules to achieving entrepreneurial success. You may encounter different people who want different things (canvas, summary, full business plan), and you also have flexibility in following whatever tool works best for you. Like the canvas, the various versions of the business plan are tools that will aid you in your entrepreneurial endeavor.
Business Plan Overview
Most business plans have several distinct sections ( Figure 11.16 ). The business plan can range from a few pages to twenty-five pages or more, depending on the purpose and the intended audience. For our discussion, we’ll describe a brief business plan and a standard business plan. If you are able to successfully design a business model canvas, then you will have the structure for developing a clear business plan that you can submit for financial consideration.
Both types of business plans aim at providing a picture and roadmap to follow from conception to creation. If you opt for the brief business plan, you will focus primarily on articulating a big-picture overview of your business concept.
The full business plan is aimed at executing the vision concept, dealing with the proverbial devil in the details. Developing a full business plan will assist those of you who need a more detailed and structured roadmap, or those of you with little to no background in business. The business planning process includes the business model, a feasibility analysis, and a full business plan, which we will discuss later in this section. Next, we explore how a business plan can meet several different needs.
Purposes of a Business Plan
A business plan can serve many different purposes—some internal, others external. As we discussed previously, you can use a business plan as an internal early planning device, an extension of a napkin sketch, and as a follow-up to one of the canvas tools. A business plan can be an organizational roadmap , that is, an internal planning tool and working plan that you can apply to your business in order to reach your desired goals over the course of several years. The business plan should be written by the owners of the venture, since it forces a firsthand examination of the business operations and allows them to focus on areas that need improvement.
Refer to the business venture throughout the document. Generally speaking, a business plan should not be written in the first person.
A major external purpose for the business plan is as an investment tool that outlines financial projections, becoming a document designed to attract investors. In many instances, a business plan can complement a formal investor’s pitch. In this context, the business plan is a presentation plan, intended for an outside audience that may or may not be familiar with your industry, your business, and your competitors.
You can also use your business plan as a contingency plan by outlining some “what-if” scenarios and exploring how you might respond if these scenarios unfold. Pretty Young Professional launched in November 2010 as an online resource to guide an emerging generation of female leaders. The site focused on recent female college graduates and current students searching for professional roles and those in their first professional roles. It was founded by four friends who were coworkers at the global consultancy firm McKinsey. But after positions and equity were decided among them, fundamental differences of opinion about the direction of the business emerged between two factions, according to the cofounder and former CEO Kathryn Minshew . “I think, naively, we assumed that if we kicked the can down the road on some of those things, we’d be able to sort them out,” Minshew said. Minshew went on to found a different professional site, The Muse , and took much of the editorial team of Pretty Young Professional with her. 49 Whereas greater planning potentially could have prevented the early demise of Pretty Young Professional, a change in planning led to overnight success for Joshua Esnard and The Cut Buddy team. Esnard invented and patented the plastic hair template that he was selling online out of his Fort Lauderdale garage while working a full-time job at Broward College and running a side business. Esnard had hundreds of boxes of Cut Buddies sitting in his home when he changed his marketing plan to enlist companies specializing in making videos go viral. It worked so well that a promotional video for the product garnered 8 million views in hours. The Cut Buddy sold over 4,000 products in a few hours when Esnard only had hundreds remaining. Demand greatly exceeded his supply, so Esnard had to scramble to increase manufacturing and offered customers two-for-one deals to make up for delays. This led to selling 55,000 units, generating $700,000 in sales in 2017. 50 After appearing on Shark Tank and landing a deal with Daymond John that gave the “shark” a 20-percent equity stake in return for $300,000, The Cut Buddy has added new distribution channels to include retail sales along with online commerce. Changing one aspect of a business plan—the marketing plan—yielded success for The Cut Buddy.
Link to Learning
Watch this video of Cut Buddy’s founder, Joshua Esnard, telling his company’s story to learn more.
If you opt for the brief business plan, you will focus primarily on articulating a big-picture overview of your business concept. This version is used to interest potential investors, employees, and other stakeholders, and will include a financial summary “box,” but it must have a disclaimer, and the founder/entrepreneur may need to have the people who receive it sign a nondisclosure agreement (NDA) . The full business plan is aimed at executing the vision concept, providing supporting details, and would be required by financial institutions and others as they formally become stakeholders in the venture. Both are aimed at providing a picture and roadmap to go from conception to creation.
Types of Business Plans
The brief business plan is similar to an extended executive summary from the full business plan. This concise document provides a broad overview of your entrepreneurial concept, your team members, how and why you will execute on your plans, and why you are the ones to do so. You can think of a brief business plan as a scene setter or—since we began this chapter with a film reference—as a trailer to the full movie. The brief business plan is the commercial equivalent to a trailer for Field of Dreams , whereas the full plan is the full-length movie equivalent.
Brief Business Plan or Executive Summary
As the name implies, the brief business plan or executive summary summarizes key elements of the entire business plan, such as the business concept, financial features, and current business position. The executive summary version of the business plan is your opportunity to broadly articulate the overall concept and vision of the company for yourself, for prospective investors, and for current and future employees.
A typical executive summary is generally no longer than a page, but because the brief business plan is essentially an extended executive summary, the executive summary section is vital. This is the “ask” to an investor. You should begin by clearly stating what you are asking for in the summary.
In the business concept phase, you’ll describe the business, its product, and its markets. Describe the customer segment it serves and why your company will hold a competitive advantage. This section may align roughly with the customer segments and value-proposition segments of a canvas.
Next, highlight the important financial features, including sales, profits, cash flows, and return on investment. Like the financial portion of a feasibility analysis, the financial analysis component of a business plan may typically include items like a twelve-month profit and loss projection, a three- or four-year profit and loss projection, a cash-flow projection, a projected balance sheet, and a breakeven calculation. You can explore a feasibility study and financial projections in more depth in the formal business plan. Here, you want to focus on the big picture of your numbers and what they mean.
The current business position section can furnish relevant information about you and your team members and the company at large. This is your opportunity to tell the story of how you formed the company, to describe its legal status (form of operation), and to list the principal players. In one part of the extended executive summary, you can cover your reasons for starting the business: Here is an opportunity to clearly define the needs you think you can meet and perhaps get into the pains and gains of customers. You also can provide a summary of the overall strategic direction in which you intend to take the company. Describe the company’s mission, vision, goals and objectives, overall business model, and value proposition.
Rice University’s Student Business Plan Competition, one of the largest and overall best-regarded graduate school business-plan competitions (see Telling Your Entrepreneurial Story and Pitching the Idea ), requires an executive summary of up to five pages to apply. 51 , 52 Its suggested sections are shown in Table 11.2 .
Are You Ready?
Create a brief business plan.
Fill out a canvas of your choosing for a well-known startup: Uber, Netflix, Dropbox, Etsy, Airbnb, Bird/Lime, Warby Parker, or any of the companies featured throughout this chapter or one of your choice. Then create a brief business plan for that business. See if you can find a version of the company’s actual executive summary, business plan, or canvas. Compare and contrast your vision with what the company has articulated.
- These companies are well established but is there a component of what you charted that you would advise the company to change to ensure future viability?
- Map out a contingency plan for a “what-if” scenario if one key aspect of the company or the environment it operates in were drastically is altered?
Full Business Plan
Even full business plans can vary in length, scale, and scope. Rice University sets a ten-page cap on business plans submitted for the full competition. The IndUS Entrepreneurs , one of the largest global networks of entrepreneurs, also holds business plan competitions for students through its Tie Young Entrepreneurs program. In contrast, business plans submitted for that competition can usually be up to twenty-five pages. These are just two examples. Some components may differ slightly; common elements are typically found in a formal business plan outline. The next section will provide sample components of a full business plan for a fictional business.
The executive summary should provide an overview of your business with key points and issues. Because the summary is intended to summarize the entire document, it is most helpful to write this section last, even though it comes first in sequence. The writing in this section should be especially concise. Readers should be able to understand your needs and capabilities at first glance. The section should tell the reader what you want and your “ask” should be explicitly stated in the summary.
Describe your business, its product or service, and the intended customers. Explain what will be sold, who it will be sold to, and what competitive advantages the business has. Table 11.3 shows a sample executive summary for the fictional company La Vida Lola.
This section describes the industry, your product, and the business and success factors. It should provide a current outlook as well as future trends and developments. You also should address your company’s mission, vision, goals, and objectives. Summarize your overall strategic direction, your reasons for starting the business, a description of your products and services, your business model, and your company’s value proposition. Consider including the Standard Industrial Classification/North American Industry Classification System (SIC/NAICS) code to specify the industry and insure correct identification. The industry extends beyond where the business is located and operates, and should include national and global dynamics. Table 11.4 shows a sample business description for La Vida Lola.
Industry Analysis and Market Strategies
Here you should define your market in terms of size, structure, growth prospects, trends, and sales potential. You’ll want to include your TAM and forecast the SAM . (Both these terms are discussed in Conducting a Feasibility Analysis .) This is a place to address market segmentation strategies by geography, customer attributes, or product orientation. Describe your positioning relative to your competitors’ in terms of pricing, distribution, promotion plan, and sales potential. Table 11.5 shows an example industry analysis and market strategy for La Vida Lola.
The competitive analysis is a statement of the business strategy as it relates to the competition. You want to be able to identify who are your major competitors and assess what are their market shares, markets served, strategies employed, and expected response to entry? You likely want to conduct a classic SWOT analysis (Strengths Weaknesses Opportunities Threats) and complete a competitive-strength grid or competitive matrix. Outline your company’s competitive strengths relative to those of the competition in regard to product, distribution, pricing, promotion, and advertising. What are your company’s competitive advantages and their likely impacts on its success? The key is to construct it properly for the relevant features/benefits (by weight, according to customers) and how the startup compares to incumbents. The competitive matrix should show clearly how and why the startup has a clear (if not currently measurable) competitive advantage. Some common features in the example include price, benefits, quality, type of features, locations, and distribution/sales. Sample templates are shown in Figure 11.17 and Figure 11.18 . A competitive analysis helps you create a marketing strategy that will identify assets or skills that your competitors are lacking so you can plan to fill those gaps, giving you a distinct competitive advantage. When creating a competitor analysis, it is important to focus on the key features and elements that matter to customers, rather than focusing too heavily on the entrepreneur’s idea and desires.
Operations and Management Plan
In this section, outline how you will manage your company. Describe its organizational structure. Here you can address the form of ownership and, if warranted, include an organizational chart/structure. Highlight the backgrounds, experiences, qualifications, areas of expertise, and roles of members of the management team. This is also the place to mention any other stakeholders, such as a board of directors or advisory board(s), and their relevant relationship to the founder, experience and value to help make the venture successful, and professional service firms providing management support, such as accounting services and legal counsel.
Table 11.6 shows a sample operations and management plan for La Vida Lola.
Here you should outline and describe an effective overall marketing strategy for your venture, providing details regarding pricing, promotion, advertising, distribution, media usage, public relations, and a digital presence. Fully describe your sales management plan and the composition of your sales force, along with a comprehensive and detailed budget for the marketing plan. Table 11.7 shows a sample marketing plan for La Vida Lola.
A financial plan seeks to forecast revenue and expenses; project a financial narrative; and estimate project costs, valuations, and cash flow projections. This section should present an accurate, realistic, and achievable financial plan for your venture (see Entrepreneurial Finance and Accounting for detailed discussions about conducting these projections). Include sales forecasts and income projections, pro forma financial statements ( Building the Entrepreneurial Dream Team , a breakeven analysis, and a capital budget. Identify your possible sources of financing (discussed in Conducting a Feasibility Analysis ). Figure 11.19 shows a template of cash-flow needs for La Vida Lola.
Entrepreneur In Action
Laughing man coffee.
Hugh Jackman ( Figure 11.20 ) may best be known for portraying a comic-book superhero who used his mutant abilities to protect the world from villains. But the Wolverine actor is also working to make the planet a better place for real, not through adamantium claws but through social entrepreneurship.
A love of java jolted Jackman into action in 2009, when he traveled to Ethiopia with a Christian humanitarian group to shoot a documentary about the impact of fair-trade certification on coffee growers there. He decided to launch a business and follow in the footsteps of the late Paul Newman, another famous actor turned philanthropist via food ventures.
Jackman launched Laughing Man Coffee two years later; he sold the line to Keurig in 2015. One Laughing Man Coffee café in New York continues to operate independently, investing its proceeds into charitable programs that support better housing, health, and educational initiatives within fair-trade farming communities. 55 Although the New York location is the only café, the coffee brand is still distributed, with Keurig donating an undisclosed portion of Laughing Man proceeds to those causes (whereas Jackman donates all his profits). The company initially donated its profits to World Vision, the Christian humanitarian group Jackman accompanied in 2009. In 2017, it created the Laughing Man Foundation to be more active with its money management and distribution.
- You be the entrepreneur. If you were Jackman, would you have sold the company to Keurig? Why or why not?
- Would you have started the Laughing Man Foundation?
- What else can Jackman do to aid fair-trade practices for coffee growers?
What Can You Do?
Textbooks for change.
Founded in 2014, Textbooks for Change uses a cross-compensation model, in which one customer segment pays for a product or service, and the profit from that revenue is used to provide the same product or service to another, underserved segment. Textbooks for Change partners with student organizations to collect used college textbooks, some of which are re-sold while others are donated to students in need at underserved universities across the globe. The organization has reused or recycled 250,000 textbooks, providing 220,000 students with access through seven campus partners in East Africa. This B-corp social enterprise tackles a problem and offers a solution that is directly relevant to college students like yourself. Have you observed a problem on your college campus or other campuses that is not being served properly? Could it result in a social enterprise?
Work It Out
Franchisee set out.
A franchisee of East Coast Wings, a chain with dozens of restaurants in the United States, has decided to part ways with the chain. The new store will feature the same basic sports-bar-and-restaurant concept and serve the same basic foods: chicken wings, burgers, sandwiches, and the like. The new restaurant can’t rely on the same distributors and suppliers. A new business plan is needed.
- What steps should the new restaurant take to create a new business plan?
- Should it attempt to serve the same customers? Why or why not?
This New York Times video, “An Unlikely Business Plan,” describes entrepreneurial resurgence in Detroit, Michigan.
- 48 Chris Guillebeau. The $100 Startup: Reinvent the Way You Make a Living, Do What You Love, and Create a New Future . New York: Crown Business/Random House, 2012.
- 49 Jonathan Chan. “What These 4 Startup Case Studies Can Teach You about Failure.” Foundr.com . July 12, 2015. https://foundr.com/4-startup-case-studies-failure/
- 50 Amy Feldman. “Inventor of the Cut Buddy Paid YouTubers to Spark Sales. He Wasn’t Ready for a Video to Go Viral.” Forbes. February 15, 2017. https://www.forbes.com/sites/forbestreptalks/2017/02/15/inventor-of-the-cut-buddy-paid-youtubers-to-spark-sales-he-wasnt-ready-for-a-video-to-go-viral/#3eb540ce798a
- 51 Jennifer Post. “National Business Plan Competitions for Entrepreneurs.” Business News Daily . August 30, 2018. https://www.businessnewsdaily.com/6902-business-plan-competitions-entrepreneurs.html
- 52 “Rice Business Plan Competition, Eligibility Criteria and How to Apply.” Rice Business Plan Competition . March 2020. https://rbpc.rice.edu/sites/g/files/bxs806/f/2020%20RBPC%20Eligibility%20Criteria%20and%20How%20to%20Apply_23Oct19.pdf
- 53 “Rice Business Plan Competition, Eligibility Criteria and How to Apply.” Rice Business Plan Competition. March 2020. https://rbpc.rice.edu/sites/g/files/bxs806/f/2020%20RBPC%20Eligibility%20Criteria%20and%20How%20to%20Apply_23Oct19.pdf; Based on 2019 RBPC Competition Rules and Format April 4–6, 2019. https://rbpc.rice.edu/sites/g/files/bxs806/f/2019-RBPC-Competition-Rules%20-Format.pdf
- 54 Foodstart. http://foodstart.com
- 55 “Hugh Jackman Journey to Starting a Social Enterprise Coffee Company.” Giving Compass. April 8, 2018. https://givingcompass.org/article/hugh-jackman-journey-to-starting-a-social-enterprise-coffee-company/
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- Authors: Michael Laverty, Chris Littel
- Publisher/website: OpenStax
- Book title: Entrepreneurship
- Publication date: Jan 16, 2020
- Location: Houston, Texas
- Book URL: https://openstax.org/books/entrepreneurship/pages/1-introduction
- Section URL: https://openstax.org/books/entrepreneurship/pages/11-4-the-business-plan
© Apr 5, 2023 OpenStax. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution License . The OpenStax name, OpenStax logo, OpenStax book covers, OpenStax CNX name, and OpenStax CNX logo are not subject to the Creative Commons license and may not be reproduced without the prior and express written consent of Rice University.
Browse Course Material
Course info, instructors.
- Aleksandra J. Kacperczyk
- Charles Kiefer
- Sloan School of Management
As Taught In
Learning Resource Types
Seminar in corporate entrepreneurship, assignments, pre-class surveys.
For some classes a very brief pre-class survey will be distributed prior to the class session. Survey responses are required, and are expected to demonstrate familiarity with readings and case materials and to find out what issues in the readings are of interest to address during class discussions. Each student is responsible for answering each survey, and they must be completed prior to class to receive full credit.
Term papers are to be prepared in a manner consistent with the highest forms of academic integrity; all sources of data and information are to be cited explicitly in footnotes and complete references. A draft of this paper will be due mid-term and will receive comments by the teaching staff. The final paper of no more than 5,000 words will be due at the end of the term.
There are two options for the paper:
- A Corporate Entrepreneurship Tool or Method You Are Interested in
- CE Within a Specific Company
Form a team of at least two and not more than three classmates. Select one or the other of the following topics for your study:
Option 1: Tool or Method: Pick a tool or method of interest to you, either internal or external. Using the literature and / or interviews prepare a report on how that method is currently being used and if it is being met with success. Example topics can be found in the Glossary: Kiefer, C. Monograph: “Notes on the Practice of Corporate Entrepreneurship” (PDF) , 2016, pp. 56–59.
Option 2: Company: Pick a firm that you are interested in and contact one to three people who are knowledgeable about the firm’s Corporate Entrepreneurship efforts. Your firm can be found in the literature, in Internet research, introductions from classmates, in our course textbook Corporate Entrepreneurship by Burns, a former employer or a company you are simply interested in, perhaps as a future employer. Use the Corporate Entrepreneurship Interview Guide and / or any additional questions of your own. What is CE to their firm? Why is it important? What challenges do they face? What tools and methods are they having success with (both inside and outside the firm)? Do they have a formal, managed approach to becoming more entrepreneurial and, if so, what is it?
In either case as a team summarize your findings in an approximately five and no more than ten-page report.
You will receive comments by the teaching staff and by other classmates (voluntary). Your final paper is due the last week of class.
Corporate Entrepreneurship Interview Guide (PDF)
Personal Career Reflection
In preparation for the final class you will prepare a short reflection (500± words) on your thoughts on your future regarding corporate entrepreneurship. What has changed, if anything, as a result of this course? This will form the basis of an in-class discussion of the topic.
Examples of 15.369 term paper assignments.
“Entrepreneurship at Google” (PDF) (Courtesy of Aakriti Bhakhri, Lisette Ludena, and Cheryl Silveri. Used with permission.)
“Hackathons as a Source of Entrepreneurship in Corporations” (PDF) (Courtesy of Carmen Maria Millan Chacartegui, Saurabh Dutta, and Scott Schreiner. Used with permission.)
Student Thesis on Corporate Entrepreneurship
Tseng Kamm, Lucia. “How to Apply Entrepreneurial Tools to Corporations—Easily!” (PDF - 1.1MB) MIT Thesis , June 2015.
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Entrepreneurship is an innovative and dynamic process, whereby, a new enterprise is created. Entrepreneur is a catalytic agent of change, which generates employment opportunities for others. The emergence of entrepreneurs in a society depends to a great extent on the economic, social, religious, cultural and psychological factor prevailing in the society. Entrepreneurship amongst women is a recent phenomenon. When an enterprise is established and controlled by a woman, it not only boosts economic growth, but also has many desirable outcomes.
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Entrepreneurship is a consistent process of being inspired, adventurous and prepared. It plays a vital role in economic development and brings significant changes in the economies of market.
Dr. Vishnu A Patankar
Prof. Dr. Lawrence Lowell
2015, International Journal of Innovation and Scientific Research
Abdirahman A H M E D Muhumed
There is no universal consensus on defining entrepreneurship. Enormous number of definitions has been forwarded by the researchers in the recent academic studies on the area of entrepreneurship. Despite the fact that defining entrepreneurship has occupied the scholars for years, yet there is lack of consensus on its exact meaning. This lack of consistent definition of the term entrepreneurship has been a challenge to the researches in the field. This particular piece is intended to give a glimpse about the existing definitions and, by considering the various fields that entrepreneurship is being studied, to outline the similarities that these definitions pose in common.
Mano Ashish Tripathi
International journal of health sciences
Entrepreneurship refers to a person usually someone who wants to implement that idea with the idea of disrupting the market with a new product or service. Perfect for research and development with practices, entrepreneurs are new, they bring innovations that open new ventures, markets, products and technology Opens the doors. Entrepreneurs need to play a role in solving problems that are still unresolved by existing products and technology. Traditionally, Entrepreneurship is classified into four main categories: small businesses, scalable start-ups, large companies and social entrepreneurs. These models cover the basics of starting a business and focus more the company is more than the qualities of an entrepreneur. An entrepreneur will usually start a new business and run it. At the same time, they are responsible for the risks involved. Entrepreneurship is the process of starting a new business, which involves risks and opportunities preparing one for both. An entrepreneur coordina...
Interal Res journa Managt Sci Tech
One of the key objectives of modern economics is to determine factors that influence the economic development. This paper, therefore, seeks to discuss entrepreneurship as one of the factors that influence the economy of a nation, either directly or indirectly. It is fact that entrepreneurship plays a significant part in shaping the landscape of a country's economy. Economists and policy makers recognize this fact. In fact, entrepreneurship is the engine of economic growth it has come to be perceived as a catalytic agent for expansion and promotion of productive activities in every sphere of economic life all over the world. This research paper will focus on finding out how entrepreneurship influences the economy of India. This paper will being with a brief introduction of the topic before proceeding to present a comprehensive view of literature relevant to the topic. It will then proceed to present an overview of relevant variables used in determining the role played by entrepreneurship in the economy of India.
2007, Journal of Research in National Development
This research presents an educational training, and development approach that is focused on the need for change in the behavior of the entrepreneurial stream, and the society in general, to attain trite self-actualization and sustainability. The paper considers self-actualization and sustainability as essentially entrepreneurial behavior. A model that specifies the appropriate approaches for entrepreneurial education, training and development is presented. The emphases are, on individual, immediate environment, and the larger society in shaping the entrepreneurial personality. The paper reports a field study where four hypotheses were tested on education, training and development of entrepreneurs in Nigeria. The results showed strong support for the effect of education, training and Development on the entrepreneur’s emergence, the behavior of entrepreneurs was perceived to be negatively affected by lack of training and Development, and finally, the entrepreneurs perceived positive relationship between training and development, and entrepreneur ‘s performance. The selected sample of entrepreneurs were asked to list areas of training and development needs in order to improve them on their various vocations and trades. The paper notes that the lessons from this research is that, education, training and development could be used as a vehicle for people change approach to self ac and sustainability for the Nigerian nation, because they can be used to produce change in the behavior of entrepreneurs. Conclusions and recommendations on the approach were highlighted.
Abstract: An Entrepreneur is and individual who, rather than working as an employee, runs a small business and assumes all the risk and reward of a given business venture, idea, or good or service offered for sale. The entrepreneur is commonly seen as a business leader and innovator of new ideas and business processes Today’s entrepreneur, a person, who has initiative in investment and decision to the enterprise; seeking all resource of factor of production, resources of Management, Behavior, cultural, Economical and Political factor for establishing, innovation and founded enterprise, having assumption of risk, profit and future growth. Entrepreneurship has rightly been identified with the individual, as success of enterprise depends upon imagination, vision, innovativeness and risk taking. The production is possible due to the cooperation of the various factors of production, popularly known as land, labour, capital, market management and of course entrepreneurship. Basic objective in developing entrepreneurship and multiplying them in the society has been to enable the society to generate productive human resource, mobilize and sustain the same in subsequent process of development. The government at the national and state level in India has been keen on promoting entrepreneurship. A well designed value chain is necessary for and enterprise to reap the benefits of market advantage and this should be modified to suit the demands of modern enterprise.. Entrepreneurship
2013, Oman Chapter of Arabian Journal of Business and Management Review
Chinnasami S , Ramachandran Manickam
2022, REST Publisher
Entrepreneurship refers to a person who has an idea and wants to implement that idea, usually with a new product or service Disrupting the market. With the right practices of research and development, entrepreneurs are new. They bring innovation, which opens the door to new ventures, markets, products and technology opens. Entrepreneurs need to play a role in solving problems that are not yet solved by existing products and technology. Traditionally, entrepreneurship has been classified into four main categories: small businesses, scalable start-ups, large companies and social entrepreneurs. These models cover the basics of starting a business and focus more on the company than the qualities of an entrepreneur. An entrepreneur will usually start a new business and run it. At the same time, they are responsible for the risks involved. Entrepreneurship is the process of starting a new business that prepares one for both risks and opportunities. An entrepreneur integrates the essential needs of a company. Make sure you do the work and no one will look over your shoulder. As an entrepreneur, you must learn to take responsibility for yourself, otherwise you will not succeed. There will be more responsibility in the making industry the branch is also responsible for his personal life. The main difference between entrepreneurs and managers is their role in the company. The owner of an entrepreneurial company, the manager is an employee of the company. Entrepreneur risk taker; they take financial risk for their company. Entrepreneurial businesses are found in every business-every business needs professionals who can create success and defraud many responsibilities. The following table illustrates the salary opportunities for four common business and entrepreneurial majors each one. Most entrepreneurs have a bachelor"s degree in business or a specific bachelor"s degree in entrepreneurship and then develop their skills in an MBA program. In entrepreneurial MBA programs, students are encouraged to use their creative potential as they learn to create endeavors. Top businesses have multiple revenue streams and competitive prices with a 50 percent or better wholesale range and a 10 to 20 percent profit range. If your numbers are not attractive, survival is difficult. So make sure all the numbers work before you start your endeavor.
Entrepreneurship can be taken to be an aspect of art that helps to develop creative ability through manipulative skills that will help the individual to function effectively in the society. Vocational education or empowering is a means of uplifting peoples' status so as to make them supportive. Through art education youths can develop the competence they need to become successful contributors to their country. The industries have given way to the foreign ones and the traditional weavers are no longer interested in weaving traditional fabrics as such should be encouraged to weave and to be patronized. Empowerment and job opportunities should be created especially in rural areas to provide job opportunities in the small scale industries. Entrepreneurial training should also be encouraged in secondary schools.
Burke Bryan #YNWA
Definition: The Entrepreneur is a change agent that acts as an industrialist and undertakes the risk associated with forming the business for commercial use. An entrepreneur has an unusual foresight to identify the potential demand for the goods and services.
This article examines the importance of the entrepreneurship in the eco- nomic development and explains the relationship between small firms and entrepre- neurship. Entrepreneurship is generally recognized to be one of the important fac- tors in economic growth. Entrepreneurs may introduce important innovations by en- tering markets with new products and/or production processes. Small businesses are considered a vehicle for entrepreneurship and a source of employment and income and contribute to innovative and competitive power. Schumpeterian entrepreneurs are found mostly in small firms. They make at least four main contributions to the economic development: they are entrepreneurs, they are the source of substantial innovative activity and play significant roles in the process of technological modifications, and they encourage industrial development, and constitute an important share of the newly created jobs in recent years.
IBRAHIM A D E K U N L E AGBOOLA
Soniya Sriram , Ramachandran Manickam
2022, Trends in Banking, Accounting and Business
Entrepreneurship refers to a person who has an idea and wants to implement that idea, usually with a new product or service Disrupting the market. With the right practices of research and development, entrepreneurs are new They bring innovation, which opens the door to new ventures, markets, products and technology Opens. Entrepreneurs need to play a role in solving problems are not yet solved by existing products and technology. Traditionally, entrepreneurship has been classified into four main categories: small businesses, scalable start-ups, large companies and social entrepreneurs. These models cover the basics of starting a business and focus more the company is more than the qualities of an entrepreneur. An entrepreneur will usually start a new business and run it. At the same time, they are responsible for the risks involved. Entrepreneurship is the process of starting a new business that prepares one for both risks and opportunities. An entrepreneur integrates the essential needs of a company. Make sure you do the work and no one will look over your shoulder. As an entrepreneur, you must learn to take responsibility for yourself, otherwise you will not succeed. There will be more responsibility in the making industry The branch is also responsible for his personal life. Entrepreneurs vs. Managers. The main difference between entrepreneurs and managers is their role in the company. The owner of an entrepreneurial company, the manager is an employee of the company. Entrepreneur risk taker; they take financial risk for their company. Entrepreneurial businesses are found in every business-every business needs professionals who can create success and defraud many responsibilities. The following table illustrates the salary opportunities for four common business and entrepreneurial majors each one. Most entrepreneurs have a bachelor"s degree in business or a specific bachelor"s degree in entrepreneurship and then develop their skills in an MBA program. In entrepreneurial MBA programs, students are encouraged to use their creative potential as they learn to create endeavors. Top businesses have multiple revenue streams and competitive prices with a 50 percent or better wholesale range and a 10 to 20 percent profit range. If your numbers are not attractive, survival is difficult. So make sure all the numbers work before you start your endeavor
أ.د. ماجد الفرا
This study aims to propose a developmental model suitable to Palestine specially Gaza Strip to improve entrepreneurship, in order to alleviate poverty and high unemployment rate. Gaza Strip needs more new enterprises and more entrepreneurs. Gaza suffers of high unemployment, high poverty and stagnant economy. Entrepreneurship concerns an individual’s ability to turn ideas into action. It includes spotting profitable opportunities, innovation, taking risk, mobilizing resources, able to work independently, as well as the ability to plan and manage projects in order to achieve objectives. Promoting entrepreneurship is widely perceived to be a crucial policy to increase employment, economic development and reduce poverty. Access to finance is a dominant constraint to entrepreneurship in Gaza Strip.
It is widely acknowledged that the field of entrepreneurship lacks a single unified and accepted definition for the term “entrepreneurship”. This article analyzes the different theoretical roots of entrepreneurship. Not surprisingly, different theories resulted in a conflicting array of definitions describing entrepreneurship in terms of dynamic change, new combinations, exploiting opportunities, innovation, price arbitrage, risk, uncertainty, ownership, new venture formation, non-control of resources, asymmetries of information, superior decision-making, personality traits, monopoly formation or something else. What were previously viewed as contradictory definitions in Table 1 can now be seen to describe complementary lexicon terms or “sub-domains” of entrepreneurship such as “corporate entrepreneurship”, “social entrepreneurship” or “opportunity entrepreneurship”. The sub-domains that arise from different theories are organized into a coherent lexicon using a simple classification taxonomy. A wide array of sub-domain terms are thus organized into a lexicon in Table 2 that can be used to describe the different aspects of entrepreneurship. This article started as the author’s own quest to make sense of the entrepreneurship literature. It is hoped that the proposed lexicon will contribute to a shared foundational terminology for the field of entrepreneurship that will make sense to both academics and practitioner entrepreneurs.
2004, Regional Studies
IOSR Journals publish within 3 days
Abstract: One of the major factors determining economic development is Entrepreneurship. It has been found that the higher the Entrepreneurship in any economy, the greater is the economic development. GEDI is a good indicator of the level of entrepreneurship in any economy. Based on the GEDI it has been seen how developed countries are having a high Global entrepreneurship Development Index. Economies should therefore strive to put a strong emphasis on entrepreneurship as a key to development. In order to achieve this, developing countries should find ways to encourage entrepreneurship and this paper attempts to trace the stages of entrepreneurship development and also suggests measures that can lead an economy to success in this crucial area of development. Keywords: Entrepreneurship, GEDI, Economic growth, development, GEM
Ho Chi Minh
2014, HCMCOUJS - ECONOMICS AND BUSINESS ADMINISTRATION
This paper makes a comprehensive review of entrepreneurship on economic development in economic theory. It indicates how entrepreneurship is crucial for economic development. The role of entrepreneurship on economic development originated from different understandings on the nature of economic system. It is argued that the role of the entrepreneur has been moved out of the neoclassical model because a crucial assumption of the model is that decision-making merely involves marginalist calculation to optimise production, based upon public information supplied by the price system. The explanation for the phenomenon of economic development depends on how we understand the nature of the market process. In this respect, the economics of entrepreneurship is different from mainstream economics. For mainstream economics, the market is generally characterised by equilibrium. For the economics of entrepreneurship, the market process is characterised by disequilibrium. The review of literature ...
2015, Journal of Accounting & Marketing
Dr. Nazrul Islam
Entrepreneurship Development, proved to be a critical resource, is an important factor in econornic uplift and growth of developing countries. There is a paramount importance of the subject for the employment generation and increasing productivity. Many researchers contributed in developing the subject of entrepreneurship focusing development of small businesses. So did we, in this book, mainly focused on small entrepreneurship development. But less we forget the fact that these small entrepreneurs can develop under the umbrella of big entrepreneurs. Hence, it is very important to note that development of big entrepreneurs is also imporrant for small entrepreneurship development.
Dr. Yam Silwal
Nepal Journal of Multidisciplinary Research
Entrepreneurship development is a process of converting an ordinary individual into an entrepreneur. The objective of this study is to examine theories of entrepreneurship development in order to gain a deeper understanding of the development of entrepreneurship. There are a number of entrepreneurship development theories existed in the scholarly field. The study identifies that entrepreneurship development theories are contextual and may not be applicable in all contexts. Some of the theories focus on psychological and knowledge aspects whereas some of them focus on skills, social network, institutional arrangement and support. A single theory has been found to be insufficient for the overall development of entrepreneurship. This study has included that mainly four theories: human capital theory of entrepreneurship development, institutional theory of entrepreneurship development, innovation theory of entrepreneurship development and social capital theory of entrepreneurship devel...
2018, Entrepreneurship - Trends and Challenges
1996, Journal of Business Research
2021, Entrepreneurship & Organization Management
2017, Proceedings of the 3rd NFE Conference on Lifelong Learning (NFE 2016)
This article proposes a person-centered model for entrepreneurship, rather than one based on an idea or business plan. It analyzes the characteristics of entrepreneurship development programs worldwide and presents a representative sample of best practices. On the basis of the main findings and lessons learned, this paper defines the characteristics and components of a new model for entrepreneur development and presents recommendations as to how to deploy the model in Latin America and the Caribbean.
2022, Keynote Speech on “Role of Women Entrepreneurship Development for Global Socio-Economic Prosperity” at the 2nd International Conference on Contemporary Researches in Engineering, Science, Management & Arts (ICCRESMA), NFED, Tamil Nadu, India
Entrepreneurship development and economic prosperity are interlinked in many phases. Entrepreneurship development boosts up economic growth by introducing innovative technologies, products, and services. Through the increased competition from the entrepreneurs the existing business firms become more competitive. Entrepreneurs create new job opportunities in the economy, helps in formation of capital, improvement in per capita income, enhancement in Living Standards, Economic Independence and Backward and Forward Linkages. Hence, the development of entrepreneurship is the key for the development process of any country in the world. Whatever be the form of economic and political set-up of a country, entrepreneurship is indispensable for the economic prosperity and the development of standard of living of the people.
International Journal of Scientific Research in Science and Technology IJSRST
Significant advances and numerous breakthroughs have happened over the last few years in our comprehension of the association between learning and development on one hand, and entrepreneurship and development on the other. Similarly, more noteworthy insights have likewise been picked up with respect to the interrelationship between entrepreneurship, innovation, and learning. However, an in-depth comprehension is as yet missing concerning the interface of all of those factors: learning, innovation, entrepreneurship, and development. The connection between the micro-economic source of development and the large-scale economic result is still too basic, making it impossible to understand the full size of these mind-boggling and intersecting powers. The main aim of the present paper is to bring to the fore the latest progress in our understanding of the powers that underline the conception and further development of learning in entrepreneurship and by shedding light on its past theories and experiences to develop present understandings.
Dr Yashpal D Netragaonkar
Journal of Asian Business Strategy
International Res Jour Managt Socio Human
2019, isara solutions
Entrepreneurship can be described as the process of designing, launching and running a new business, generally a small business. It is mainly the willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit. It also involves innovative activities, risk taking capacities, combination of resources, organization of people, talent and others to be successful. Now people have drifted their focus from jobs and settled career options towards a risk prone area of career option that is entrepreneurship. These days there has emerged forms of entrepreneurship such as one-person enterprises and self-employment, part-time entrepreneurs, parallel and serial entrepreneurs, and business transfer and successions. Entrepreneurship is fast emerging as transformational key drivers of economic growth. High youth unemployment rates in many countries, changing work and lifestyle preferences, zeal to establish one’s own enterprise, equal division of responsibilities between genders, changing role of women and society, dissatisfaction and exploitation in jobs have resulted in creating a new class of entrepreneurs. With the developing supportive environments such as access to funding, entrepreneurial culture, supportive regulatory and tax regimes, entrepreneurial mind-set and a coordinated approach has helped a lot in emerging entrepreneurship. Furthermore, the instrumental role entrepreneurs play in stimulating economic growth, policymakers are moving towards actively promoting entrepreneurship opportunities based on an integrated approach that brings together both government and industry entities. It is essential for the overall societal development and growth in national economy also.
Dr. Veena Tripathi
Journal of Nonformal Education
Problems in the implementation of women empowerment activities organized by government or community institutions indicate that the number of women is large enough, yet can not be utilized all the potential for development purposes because women can not enjoy life better because of the shackles of cultural sanctions. the theoretical studies developed related to building women through entrepreneurship program is one of the reasons to empower women to be able to create entrepreneurship opportunities. This study was conducted using research and development methods with data collection techniques; literature study, observation, interview, documentation, questionnaire and test. The data are analyzed descriptively, qualitatively and quantitatively. Implementation of activities in Neglasari Village Tasikmalaya. The findings show that the implementation of entrepreneurial activities as an effort to empower women can improve the level of better family economy. The results of this activity can...
This paper offers an alternative to the more orthodox psychological approach to the study of entrepreneurship. It suggests that an adequate theory of entrepreneurship must consider a country's political and economic history and especially the way in which this history has structured the oppor tunities for economic gain open to social groups in the society. It further suggests that due to the different historical experience of underdeveloped countries, and especially international monopoly capital, these opportunities will be differently structured in such societies. Whilst the particular structure may not lead to development, it will be maintained by the class structure and political system which emerges in such societies and which may resist attempts to alter that particular structure of economic opportunities. However, while such opportunities are so structured, analysis of entre preneurship must also consider why there might be differential response to such opportunities in a society. This, it suggests, can be explained in terms of the degree of role continuity and congruity in economic roles in the society. Consideration of both the historical and the economic role level is essential for the study of entrepreneurship.
jose carlos sanchez
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