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Entrepreneur Centre
Rationale
Module Structure
Teaching
and Learning Resources
Programmes, Courses and Modules
Workshops
and Self-directed Study
Foundation and Learner Support Modules and Courses
Learner Support Resources
Staff Development
Recommended
Texts
Resources
Click
on image above. Abstract We test two competing hypotheses on what makes an
entrepreneur: nature - attitude towards risk, I.Q.,
and self-confidence; or nurture - family background
and social networks. The results are based on data
from a new survey on entrepreneurship in Brazil,
of 400 entrepreneurs and 540 non-entrepreneurs of
the same age, gender, education and location in 7
Brazilian cities. We find that family characteristics
have the strongest influence on becoming an entrepreneur.
In contrast, success as an entrepreneur is primarily
determined by the individual's smartness and higher
education in the family. Entrepreneurs are not more
self-confident than non-entrepreneurs; and overconfidence
is bad for business success.
Source: ©2008
The World Bank Group, All Rights Reserved. |
Rationale
Entrepreneurship is the practice of starting
new organizations,
particularly new businesses generally
in response to identified opportunities. Entrepreneurship is often
a difficult undertaking, as a majority of new businesses fail.
Entrepreneurial activities are substantially different depending
on the type of organization that is being started. Entrepreneurship
may involve creating many job opportunities.
Many "high-profile" entrepreneurial
ventures seek venture
capital or angel
funding in order to raise capital to
build the business. Many kinds of organizations now exist to
support would-be entrepreneurs, including specialized government
agencies, business
incubators, science
parks, and some NGOs.
Our understanding of entrepreneurship owes a lot to the work of
economist Joseph
Schumpeter and the Austrian
School of economics.
For Schumpeter (1950), an entrepreneur is a person who is willing
and able to convert a new idea or invention into
a successful innovation.
Entrepreneurship forces "creative
destruction" across markets and industries, simultaneously
creating new products and business
models and eliminating others. In this way, creative destruction
is largely responsible for the dynamism of industries and long-run
economic growth. |
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Despite Schumpeter's early 20th-century contributions,
the traditional microeconomic theory
of economics has
had little room for entrepreneurs in their theories. (ref. The
Economist Magazine, March 11, 2006, pp 67).
For Frank H. Knight (1967) and Peter
Drucker (1970) entrepreneurship is about taking risk.
The entrepreneur is the kind of person that is willing to put
his career and financial security on the line for an idea, spending
his time and capital in
an uncertain venture. Still another view of entrepreneurship
is that it is the process of discovering, evaluating and exploiting
opportunities. An entrepreneur could be defined as "someone who
acts without regard to the resources currently under his control
in relentless pursuit of opportunity " (Jeffry Timmons).
Some notable persons and their works in entrepreneurship
history:
- Pinchot (1985) coined the term intrapreneurship to
describe entrepreneurial-like activities inside organizations and
government.
- William
Baumol is a living economist who has added greatly to this
area of economic theory over many years, and was recently honored
for it at the 2006 annual meeting of the American
Economic Association. (source: The
Economist, March 11, 2006, pp 67)
- Howard Stevenson,
of Harvard University, believes that entrepreneurship is the "pursuit of opportunity without regard to resources currently
controlled".
- Entrepreneurship is often regarded as a defining characteristic
of American life. Robert
Sobel published The Entrepreneurs: Explorations Within
the American Business Tradition in 1974.
- A study published
by Regan Sydney and Jacob showed that the characteristics of
successful entrepreneurship are perceived in different ways;
investors, "intranpreneurs",
and founders of young companies agree on many ideas, but have
important differences, too. For example, founders tend to believe
that tenacity is an important trait more frequently than investors.
Investors tend to put slightly more
Today's Videos
Module Structure
Click on the Module Contents below for Examples
Programmes, Courses, Modules
Workshops
and Self-directed Study
Foundation and Learner Support Modules and Courses
Recommended Texts
 |
Entrepreneurship
Third Edition
by
Peggy A. Lambing
Charles R. Kuehl
Check the availability and buy your books from our Bookshop. |
Resources
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The National Council for Graduate Entrepreneurship (NCGE) was formed in 2004 with the aim of raising the profile of entrepreneurship and the option of starting your own business as a career choice amongst students and graduates. By understanding the circumstances in which graduate entrepreneurship can flourish, NCGE's goal is to influence, and inspire, an increase in the number of students and graduates who give serious thought to self-employment or business start-up.
The Council, which is based in Birmingham, is not only focused on graduates starting businesses, but understanding, developing and promoting a culture of entrepreneurship within Higher Education through research, education and facilitation. NCGE aims to become the national focal point for graduate entrepreneurship and will collaborate with bodies across the UK.
Strategic Partners
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www.dti.gov.uk
The DTI works to create the conditions for business success and help the UK respond to the challenges. |
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www.dfes.gov.uk
DFES has a purpose of creating opportunity, releasing potential and achieving excellence for all. |
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www.culture.gov.uk
DCMS aim to improve the quality of life for all through cultural and sporting activities.
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www.hm-treasury.gov.uk
The Treasury is the UK's economics & finance ministry.
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www.englandsrdas.com/home.aspx
RDAs work with people in communities to regenerate unused or run-down sites.
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www.scotland.gov.uk/Home
The Scottish Executive is the devolved government for Scotland.
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www.nics.gov.uk/gov.htm
Northern Ireland Office Ministers is the direction and control of the Northern Ireland Executives.
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http://new.wales.gov.uk
The National Assembly and Cabinet Ministers together form the Welsh Assembly Government. |
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www.heacademy.ac.uk
The Academy helps institutions, discipline groups and all staff to provide the best possible learning experience. |
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www.agcas.org.uk
AGCAS has a strong, collaborative body for HE careers professionals. |
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www.prospects.ac.uk
Graduate Prospects is the commercial subsidiary of the Higher Education Careers Services Unit.
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www.enterprise.ac.uk
UKSEC is the National Network of Enterprise Centres. |
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www.enterpriseinsight.com
Enterprise Insight provides insight and consulting services related to CIOs and the enterprise IT. |
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www.ipo.gov.uk
The Patent Office is the official government body for granting Intellectual Property rights in the UK. |
See also
JADE is a student-run, pan-European network representing more than 20.000 young entrepreneurs in 225 local non-profit organisations, called Junior Enterprises.
A Junior Enterprise is a local non-profit organization entirely managed by students. Related to their field of studies the students offer consulting services to the market; experiencing unique learning opportunities by doing professional project work on the one side and managing small- to medium sized enterprises on the other, by doing this the students add practical experience to their theoretical skills. Most Junior Enterprises are linked to universities or schools.
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SFEDI is the Small Firms Enterprise Development Initiative, a company started and principally funded by the Department of Trade and Industry that works under contract to the UK government to develop occupational standards for small business managers and advisers, primarily active in the field of National Vocational Qualifications (NVQs).
- Business Link is the United Kingdom Government’s multi-channel support service for micro, small and medium sized companies (SMEs). As a non-political organisation it is dedicated to helping new and existing businesses innovate, improve, grow and become more competitive.
Business Link is built on the belief that all businesses, whether new or established, need to improve and grow continually if they are to compete effectively and meet their future goals. As such, easy access to relevant and affordable business information, advice and assistance is the catalyst to their future success.
Business Link services are delivered by 45 county-based Business Link Operators. These are funded by the Department for Trade and Industry and managed by the nine Regional Development Agencies.
Business Link only covers the regions of England. Elsewhere in the UK, its counterparts are Business Gateway (Scotland), Business Eye (Wales) and InvestNI (Northern Ireland).
- External links
Investors in People (IiP) is a voluntary assessment scheme backed by the UK Department for Education and Skills. IiP was developed in 1990 through a partnership of businesses and other national organisations. The scheme aims to improve organisational performance through better planning, implementation and evaluation of learning and development programmes, across organisations of all sizes and sectors.
The concept of Putting the Customer First was originally initiated in Yorkshire and the Humber, UK in 1999 - through the Business of Competitiveness Group. The Group were driven to increase the quality of publicly funded business support - so undertook some research and development work to look at what the issues were in the county and what could be done to tackle them.
The Framework
The Putting the Customer First Framework focuses on the customer and their experience of the business support organisation and the services they deliver. To find out more about the Framework and the Assessment Process click on the following:
A Regional Development Agency (RDA) is a Non-Departm |
