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Essay / Research Paper Abstract
This 4 page paper is written in three parts. The first part looks a three different approaches to entrepreneurship; economic, behavioral and personality. The second part of the paper explains different types of entrepreneurs and looks at the patterns of entrepreneurship in the UK. The last part explores the level of entrepreneurship and its importance to the economy the UK. The bibliography cites 7 sources.
Page Count:
4 pages (~225 words per page)
File: TS14_TEentrquest.rtf
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Unformatted sample text from the term paper:
There are different approaches to entrepreneurship. The economic approach may be seen as one of the oldest approach, first recognised by Cantillon (1775)1 when looking at farmers and the way
they pay top land owners following their use of the land. In this approach there was an emphasis place in the function of the entrepreneur, rather then personality or
social status, with the entrepreneur being a central economic actor. The function was also looked at as economic by Jean Baptiste Say who referred to an entrepreneur as one who
"shifts economic resources out of an area of lower and into an area of higher productivity and greater yield" (Drucker, 1995). It is notable that Say does not consider who
the entrepreneur is, but defines them by their economic activity (Drucker, 1995). Schumpeter takes the idea further than Baptiste and separates the resource owners from the entrepreneurs, and adds the
concept of innovation as a requirement for an entrepreneur and it may be argued that this is moving towards the behavioural approach to entrepreneurs. The behavioural approach assumes that entrepreneurs
can be identified by their behavioural patterns, Kirzner (1973) looks at the behaviour of entrepreneurs, arguing that they are likely to be risk takers, they may own resources, but the
way that they behave is the key to the role. Alertness is also seen as a key behavioural characteristic (Kirzner, 1973). This also moves towards the personality theory.
Casson (1998) assumes that entrepreneurs are individuals that have personalities that facilitates the ability of entrepreneurs to make difficult far reaching decisions, to
gain relevant information, who have a great deal of self belief, and are likely to act in their own self interests. It is also argued that entrepreneurs may become bored
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