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(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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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).


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.

References in periodicals archive ?
We are on our way to building one of the top campus-wide entrepreneurial education experiences in the country," said Thomas Zurbuchen, senior counselor for entrepreneurship at the University of Michigan.
With boundless enthusiasm, energy and drive he introduced, supported, and expanded the concept of Entrepreneurship of All Kinds(TM), positioning Babson as the recognized worldwide leader in entrepreneurial education and demonstrating the value of entrepreneurship to every organization.
Sam and his family foundation's generous support will ensure that we will not slow down any time soon, and that we will continue to push the boundaries of entrepreneurial education.
IRECENTLY returned from a conference with the ever-sexy title Stimulating Entrepreneurial Education And Training in Amsterdam.
DeNoble's academic innovation and passion for entrepreneurial education has been an inspiration to his students, many of whom have become outstanding business leaders.
The program was created through a unique collaboration between a group of leading tire dealers and Northwood University, a fully accredited, private, non-profit business university that specializes in managerial and entrepreneurial education.
Oren Simanian, CEO and founder, adds that "StarTau creates positive sides effects, by encouraging other places, such as universities and municipalities, to launch centers like ours due to the high demand of entrepreneurial education.
However, the study also demonstrated that entrepreneurial education positively impacted on performance in other academic areas.
Thestudy covers the growing market for entrepreneurship education in India and assesses some of the key factors that are influencing growth and strategies and good practices that industry has to follow in order to have a world class entrepreneurial education system.
Additionally, programs through Junior Achievement, a partnership among the Ministry of Education, Ministry of Economy, Junior Achievement Saskatchewan and the Saskatchewan Chamber of Commerce, address financial literacy and entrepreneurial education in the classroom.
The Welsh Assembly and WDA are supporting the Week and have pledged to increase the level of entrepreneurial activity in Wales by providing support to business start-ups and small business growth through the Entrepreneurship Action Plan and by improving entrepreneurial education.
COLUMBUS, Ohio -- Venture Highway, which offers an integrated learning suite designed to augment university entrepreneurial education courses, announced today that it will be the title sponsor of The Ohio State University 2011 Undergraduate Business Plan Competition.

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