Entrepreneurship: Concepts, Theory and Perspective. Introduction

Abstract

The creation of a country's wealth and dynamism depends upon the competitiveness of its firms and this, in turn, relies fundamentally on the capabilities of its entrepreneurs and managers.The essence of the modern firm lies in the specialization of functions. "The businessmen" that manage economic activity are, in the strictest sense, both managers and entrepreneurs, the latter in a double sense: the individual businessman (independent) and the "corporate entrepreneur" who, without participating significantly in terms of capital, controls the firm.Studying offers of business capabilities requires the differentiation between the functions of entrepreneur, manager and capitalist, although in many cases, the same person may perform all three (table 1). Table 1. Entrepreneurs, managers and capitalists ENTREPRENEUR CAPITALIST MANAGER CHARACTERIZED BY Discovers and exploits opportunities A creator who initiates and motivates the process of change Capital owner: shareholders Controlling shareholder Passive shareholder Administrates and manages resources An administrator BEHAVIOUR Accepts risks Uses intuition, is alert, explores new business Leadership, initiates new ways of acting Identifies business opportunities Creation of new Enterprise Aversion to risktaking Assesses alternatives Choice of venture assets Aversion to risktaking "Rational" decision-maker. Explotes business Creates and maintains competitive advantage Creates trust to enhance cooperation Supervision of the administrative process

Transnational Entrepreneurship in South East Asia

“…Our understanding of entrepreneurship aligns with Cuervo et al's (2008), in that entrepreneurship-the function-is conceptualized as the discovery of opportunities and creation of new economic activity.…”

Is entrepreneurship a virtue?

“…It is also true that writers on entrepreneurship do not discuss the virtues required by entrepreneurs, and writers on economic virtues ignore entrepreneurs and entrepreneurship. For example, in two substantial collections of papers on entrepreneurship (Cuervo, Ribeiro, & Roig, ; Casson, Yeung, Basu, & Wadeson, ) the virtues and virtue ethics are noticeable only by their absence. Similarly, in a collection of papers on economics and virtue ethics, entrepreneurship is mentioned only once (Baker, , p. 66).…”

Knowledge management and entrepreneurship

“…Researchers and practitioners are keen to strengthen our understanding of challenges related to investment in knowledge and technology internally, as well as our understanding of how to access knowledge via collaboration with external partners and knowledge spillover within domestic and across international contexts (Welter et al 2019). Much of what is known about knowledge management in entrepreneurial organizations is based on studies of endogenous growth (Romer 1994), strategic entrepreneurship (Agarwal et al 2010;Audretsch et al 2015a;Ghio et al 2015); international business and knowledge spillover of entrepreneurship (Cuervo et al 2007;Acs et al 2013) and open innovation theory West and Bogers 2014).…”