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Essay / Research Paper Abstract
A 5 page paper that provides an overview explanation of Schultz's Human-Capital Approach to Entrepreneurship. The writer reports a research study that focused on the importance of entrepreneurship in certain cultures, the one reported is Brazilian. The writer concludes with comments about entrepreneurs being developed at established firms. Bibliography lists 3 sources.
Page Count:
5 pages (~225 words per page)
File: MM12_PGentr08.RTF
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Unformatted sample text from the term paper:
so important in the economy, is not one of the economists tools that are used frequently but it should be (Klein and Cook, 2005). Entrepreneurship is a major component in
any economy because it has a direct relationship to the economy, yet, it is frequently ignored by economists. Entrepreneurs are bold individuals who are passionate about what they do. The
fact is that every single company was founded by an entrepreneur or a group of entrepreneurs. Businesses do not simply become large companies by themselves. They are founded on the
beliefs and ideas of an individual or a group. Of course, many entrepreneurs are lone contractors providing specific services and they choose to stay that way. Entrepreneurs see a
gap or service or product needed and work to fill that gap (Klein and Cook, 2005). Very often, entrepreneurs have few assets. They often work from their own homes. Their
own work and income is dependent upon the general economy and they must adjust as changes occur. This was one of Schultzs points - entrepreneurs adjust to the times
(Klein and Cook, 2005). Schultz believed that "entrepreneurial ability [is[ a form of human capital" (Klein and Cook, 2005). This form of human capital is similar to other forms
insofar as the ability is increased and enhanced through education, experience, training and so forth (Klein and Cook, 2005). When entrepreneurs gain more knowledge and training, they also gain
the ability to adjust to changes that are occurring in the society, economy, polity, and environment (Klein and Cook, 2005). As an example, they adopt new technology as well as
new organizational and operational practices as they are designed (Klein and Cook, 2005). One excellent example of this adjustment is the use of advanced information technology. The Internet itself provides
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