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Entrepreneurship and business revision

Entrepreneurship and business revision - Schumpeter’s...

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Entrepreneurship and business revision The challenge of Entrepreneurship Education: Can be taught about Creative Problem Solving You can only learn it through experience Much of the knowledge is tacit not explicit Student engagement Practitioner involvement Integrative learning Complexity Entrepreneur = the owner or manager of a business enterprise who, by risk and initiative, attempts to make profits/ a middleman or commercial intermediary The Debate: Risk takers - business people - resource administrators TOO GENERAL Risk takers - gap fillers - responsive TOO PASSIVE Pioneers - causing economic development TOO RESTRICTIVE Doom mongers: Population growth Technology International Co-operation for survival Climate change Defininitions: Joseph Schumpeter - Whatever the type, someone is an entrepreneur only when he actually carries out new combinations, and loses that character as soon as he has built up his business”
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Unformatted text preview: Schumpeter’s crucial distinction: Gradual change Discrete change The theory of economic development The crucial role of discrete rather than gradual change The central role of entrepreneurship Gradual – Incremental – Sustaining Innovation Discrete – Discontinuous – Disruptive Innovation Improvement v Transformation Gradual Change = Product or process improvement Closely connected with earlier versions May reflect market research and customer preferences May drive customer choice – the latest, newest model A continuation of existing established technology and processes The easiest, most comfortable kind of innovation: Cars, pens, breakfast cereals, insurance policies, shoes, bags Comfortable for businesses and customers...
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