Description
HISTORICAL PERSPECTIVES ON ENTREPRENEURSHIP
An entrepreneur is someone who runs a business as a sole owner with the aim of
making profit even though they encounter a lot of challenges. Theories of
entrepreneurship are very essential as they help to explain what
entrepreneurship entails. In this course, you will find valuable information about
several theories of entrepreneurship.
The definition of entrepreneurship involves creation of value through fusion of
capital, risk taking, technology and human talent. It is a multidimensional
concept. The distinctive features of entrepreneurship over the years are:
• Innovation,
• A Function of high achievement,
• Organization building,
• Group level activities,
• Managerial skills and leadership,
• Gap filling activity
• Entrepreneurship – An emerging class.
For Scientist, ‘theory’ refers to the relationships between facts. In another words,
theory is some ordering principles. There are various theories of
entrepreneurship which may be explained from the viewpoints of economists,
sociologists and psychologists. These theories have been supported and given
by various thinkers over a period of more than two and half centuries.
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