Bruce R. Barringer

in Management

ISBN: 9780199846740
Published online January 2013 | | DOI:

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The word “entrepreneur” derives from the French word entre, meaning “between,” and prendre, meaning “to take.” The word was originally used to describe people who “take on the risk” between buyers and sellers or who “undertake” a task such as starting a new business. Inventors and entrepreneurs differ from each other. An inventor creates something new. An entrepreneur assembles and then integrates all the resources needed—the money, the people, the business model, the legal structure, the risk-bearing ability—to transfer the idea into a viable business. Entrepreneurship is defined by H. H. Stevenson and J. C. Jarillo, two prominent entrepreneurship scholars, as “the process by which individuals pursue opportunities without regard to the resources they currently control.” Others see entrepreneurship as the art of turning an idea into a business. In both instances, the essence of entrepreneurship is identifying opportunities and putting useful ideas into practice. This task can be accomplished by an individual, a group, or an established corporation and requires creativity, drive, and a willingness to take risks. Compared to other academic disciplines, entrepreneurship is a new field. For instance, the first article in the Journal of Applied Psychology was published in 1917, while the first article to appear in an entrepreneurship journal was published in 1987. Entrepreneurship has since become a vibrant academic field. It has also captured the attention of individuals, groups, and governments across the world. Even young people are aware of entrepreneurship and its potential. In fact, according to a Harris Interactive survey of 2,438 Americans ages eight to twenty-one, 40 percent said they would like to start their own business someday.

Article.  8894 words. 

Subjects: Business and Management

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