No single subject has garnered more attention over the past twenty-five years than
has entrepreneurship. A quick Google search of the term, in its various forms, generates
over 24 million “hits” (Google, 2008) up over ten fold in the past year (Google, 2007).
At least forty academic journals are totally dedicated to herald its characteristics and
It is the darling of academic conferences, higher education curricula, a host
of self-help books, and, unique among the bulk of business school fare, it can even claim
its own trade magazine.
Over 100 centers devoted to its study and teachings have
emerged in the United States alone.
And, currently, 21.1% of U.S. schools offer
undergraduate majors in entrepreneurship, 15.3% offer MBA concentrations, and 1.5% a
specialized Masters degree (Fernandes, 2006).
The future of entrepreneurship is forecast to witness even greater significance and
popularity of the field.
The prestigious AACSB, predicts: 1) the field will mature into a
distinct management discipline, 2) its elements will become essential to any business
education, 3) the distinction between education and practice will become irrelevant, 4)
“research will more significantly influence policy and economic development
worldwide,” and 5) it will produce radically different faculty models at business schools
around the globe (Fernandes, 2006).
To suggest that entrepreneurship is a “hot topic” is to understate the obvious.
Most noteworthy in this flurry of activity is that the terms
have no commonly accepted definitions.
This absence of specified
content or boundaries, however, has not appeared to discourage the proliferation of
contributions to the field or its impact.
In fact, it has, likely, had just the opposite effect.