entrepreneur

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entrepreneur

(än'trəprənûr`) [Fr.,=one who undertakes], person who assumes the organization, management, and risks of a business enterprise. It was first used as a technical economic term by the 18th-century economist Richard Cantillon. To the classical economist of the late 18th cent. the term meant an employer in the character of one who assumes the risk and management of business; an undertaker of economic enterprises, in contrast to the ordinary capitalist, who, strictly speaking, merely owns an enterprise and may choose to take no part in its day-to-day operation. In practice, entrepreneurs were not differentiated from regular capitalists until the 19th cent., when their function developed into that of coordinators of processes necessary to large-scale industry and trade. Joseph Schumpeter and other 20th-century economists considered the entrepreneur's competitive drive for innovation and improvement to have been the motive force behind capitalist development. Richard Arkwright in England and William Cockerill on the Continent were prominent examples of the rising class of entrepreneurial manufacturers during the Industrial Revolution. Henry Ford was a 20th-century American example. The entrepreneur's functions and importance have declined with the growth of the corporationcorporation,
in law, organization enjoying legal personality for the purpose of carrying on certain activities. Most corporations are businesses for profit; they are usually organized by three or more subscribers who raise capital for the corporate activities by selling shares
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Bibliography

See J. Schumpeter, The Theory of Economic Development (1934); J. W. Gough, The Rise of the Entrepreneur (1969); O. F. Collins, The Organization Makers (1970).

entrepreneur

any owner of capital who is engaged in the management of an enterprise for the sale of goods or services for profit. Classical economics focused on entrepreneurial activity as a factor of production in which risk taking was the key attribute of the entrepreneur. Classical microeconomic theory of the firm also assumed the existence of an individual entrepreneur as the basis for decision making in terms of profit maximization. In contrast, sociological study of entrepreneurs has been concerned in particular with their position within the class structure, their values and their relations to other class groupings (see also MIDDLE CLASS). Features of entrepreneurship variously include: values of independence, innovation, competition and a belief in enterprise and profit making (see also PROTESTANT ETHIC, ENTERPRISE CULTURE). Recent organizational research has identified the phenomenon of intrapreneurship: the development of entrepreneurial attitudes and behaviour of employees within the enterprise.

Empirical research into entrepreneurs has indicated that they do not comprise a homogeneous category, but include the self-employed, small employers, owner-controllers and owner-directors (Scase and Goffe, 1982). Sociological analysis of the self-employed – small proprietors, artisans and tradespeople – has occupied a problematic place in the study of the changing class structure of capitalist societies in terms of their position between large-scale capital and the working class (see PETTY BOURGEOISIE). Interest in the self-employed has been renewed recently with the proliferation of small businesses and research into the INFORMAL ECONOMY. The class position of owner-controllers and owner-directors has figured prominently in the analysis of the separation of ownership from control, and of the RULING CLASS in advanced capitalist societies. See also MANAGERIAL REVOLUTION, POSTCAPITALISM AND POSTCAPITALIST SOCIETY.

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The literature suggests that both knowledge management and an entrepreneurial mindset should play a role in individual creativity.
Based on the preceding discussion of issues potentially influencing decisions on e-commerce adoption, this study proposes that the perceived strategic value of e-commerce is influenced by organizational readiness, entrepreneurial mindset, and degree of competitiveness within the industry.
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A team of experts met with key officials from AUC departments and focused on issues such as core curriculum and staff development while stimulating debate about how best to promote the entrepreneurial mindset on the AUC campus.
The preponderance of an entrepreneurial mindset in the population, as defined by specific values like individualism, a belief in the legitimacy of entrepreneurship as a career choice, and the capacity to recover quickly and without excessive social stigma from a failed business attempt.
All students can develop an entrepreneurial mindset and Queen's is one of the few universities in the world to teach entrepreneurship to students of all disciplines," he said.
My message to suppliers seeking to enter foodservice is this: before setting out, get the funding and timetable right, understand the entrepreneurial mindset of the sector and ensure you have the necessary distribution and production resources.
As real estate owners and managers ourselves, we have the entrepreneurial mindset and the agility to respond quickly when there is a special funding need," said Perry.
Recruiting people with an entrepreneurial mindset is an almost necessary condition in a turbulent age," says Graham Mitchell, director of Lehigh University's Program in Entrepreneurship.
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Companies must also adopt an entrepreneurial mindset.

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