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Entrepreneurship 10th Edition by Donald Kuratko
Edition 10ISBN: 978-1305576247Entrepreneurship 10th Edition by Donald Kuratko
Edition 10ISBN: 978-1305576247 Exercise 1
Briefly describe the evolution of the term entrepreneurship.
Explanation
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Evolution of entrepreneurship:
Entrepreneur is derived with French "entreprendre" which means "to undertake." An entrepreneur organizes, manages, and assumes risks of a specific business. Recently, entrepreneurs conduct number of things required to broaden specified definition.
He/she can be a developer or an innovator that recognize and seize opportunities. Further, they convert opportunities to marketable ideas realizing rewards related to respective efforts.
The entrepreneurship is now become an aggressive catalyst of changing business world. He is considered to be an independent thinker amid common events. Though, there are number of definitions for entrepreneur, researchers are now providing an increased focus.
Currently, world is amidst new wave of economic and business development; where entrepreneurship remains as a catalyst. Yet, socio-economic forces existed in the new millennium. Hence, it is understood that entrepreneurial spirit had coerced number of humanitarian achievements.
Humanity has progressed from cave to campus. Though, the process has been explained in many ways, agent of change plays a vital role in the initiation and implementation of material progress. In today's scenario agent of change is recognized as an entrepreneur.
• Entrepreneurs were recognized in the eighteenth century in F-ance, when Mr. RC associated economy's risk-bearing activity with an entrepreneur.
• At the same period Industrial revolution was evolved in E-gland. This witnessed entrepreneur's risk taking and resource transformation activity.
• Entrepreneurship and economics are associated and this is considered to be an accepted standard.
During 1950s number of definitions of entrepreneurship came from economics and economists. Example: Mr. RC 1725, Mr. JBS 1803, and Mr. JS 1934 discussed about entrepreneurship and its impact over economic development. Since then researchers continue to describe or define entrepreneurship differently.
The evolution of entrepreneurship after examination of different definitions RCR summarizes as given below:
Entrepreneurship is dynamic process that creates an incremental wealth. This wealth is created through individuals who consider major risks like equity, time, or career commitment that provides value for certain service or product. The entrepreneur is not always required to create unique service or product; but it is required that value is infused for securing required resources and skills.
Hence, evolution as introduced by economists in eighteenth century continued to improve in nineteenth century. Further, in twentieth century it was synonymous and closely linked to capitalism and free enterprises.
Entrepreneur is derived with French "entreprendre" which means "to undertake." An entrepreneur organizes, manages, and assumes risks of a specific business. Recently, entrepreneurs conduct number of things required to broaden specified definition.
He/she can be a developer or an innovator that recognize and seize opportunities. Further, they convert opportunities to marketable ideas realizing rewards related to respective efforts.
The entrepreneurship is now become an aggressive catalyst of changing business world. He is considered to be an independent thinker amid common events. Though, there are number of definitions for entrepreneur, researchers are now providing an increased focus.
Currently, world is amidst new wave of economic and business development; where entrepreneurship remains as a catalyst. Yet, socio-economic forces existed in the new millennium. Hence, it is understood that entrepreneurial spirit had coerced number of humanitarian achievements.
Humanity has progressed from cave to campus. Though, the process has been explained in many ways, agent of change plays a vital role in the initiation and implementation of material progress. In today's scenario agent of change is recognized as an entrepreneur.
• Entrepreneurs were recognized in the eighteenth century in F-ance, when Mr. RC associated economy's risk-bearing activity with an entrepreneur.
• At the same period Industrial revolution was evolved in E-gland. This witnessed entrepreneur's risk taking and resource transformation activity.
• Entrepreneurship and economics are associated and this is considered to be an accepted standard.
During 1950s number of definitions of entrepreneurship came from economics and economists. Example: Mr. RC 1725, Mr. JBS 1803, and Mr. JS 1934 discussed about entrepreneurship and its impact over economic development. Since then researchers continue to describe or define entrepreneurship differently.
The evolution of entrepreneurship after examination of different definitions RCR summarizes as given below:
Entrepreneurship is dynamic process that creates an incremental wealth. This wealth is created through individuals who consider major risks like equity, time, or career commitment that provides value for certain service or product. The entrepreneur is not always required to create unique service or product; but it is required that value is infused for securing required resources and skills.
Hence, evolution as introduced by economists in eighteenth century continued to improve in nineteenth century. Further, in twentieth century it was synonymous and closely linked to capitalism and free enterprises.
Entrepreneurship 10th Edition by Donald Kuratko
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