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.

References in periodicals archive ?
The three varieties of entrepreneurial education programs (EEPs), viz.
This research initiated to learn and understand the impact of entrepreneurial education on student's entrepreneurial intentions and to understand this, some variables are selected through which relationship among the students and their entrepreneurial career are explained.
The measure of expanding industry-university-research cooperation to entrepreneurial education will facilitate high-quality configuration of educational contents in industries, universities, and the field of research, and will optimize the associations among them.
Their development is affected by entrepreneurial education, as well as entrepreneurial knowledge acquired in the process of education.
Thus, we present the dimensions of the entrepreneurial education in the Romania.
2008), focused on entrepreneurial education and presented an analysis of comparative data for 38 countries.
The programmes and activities of the World Entrepreneurship Forum focus on four key pillars: Creating innovative and high-growth companies for job creation; Developing entrepreneurship at the bottom of the pyramid to alleviate poverty and create new markets; Shaping entrepreneurial cities; and Implementing entrepreneurial education.
Drawing from the empirical research on unemployment among young graduates and the question of economic relevance of curricula of the tertiary education in Nigeria, this investigation will be carried out to answer the following research question: Will unemployed graduates' perceptions of the importance of entrepreneurial education in poverty alleviation depend significantly on the basis of length of time of unemployment, their discipline, their area of job aspiration and the type of institution attended?
To study the relationship between entrepreneurship and globalization, I built upon a framework originally developed by Wennekers, Uhlander, and Thurik (2002) [International Journal of Entrepreneurial Education 1 (1), 25-64].
Hilal bin Ali al-Hinai, Secretary General of TRC delivered a speech where he pointed out that the seminar is an ideal platform for the exchange of views on a prioritized topic namely the role of entrepreneurial education in achieving sustainable socioeconomic development, especially sustainable development is the backbone of the philosophy of the Omani Renaissance and the national development plans.
Columbus, Ohio-based Venture Highway announced a partnership with CME Consulting Ltd of Trinidad & Tobago, to integrate its online entrepreneurial education suite with academic institutions in the Caribbean interested in offering entrepreneurship programs, reports Caribbean News Now (Dec.

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