Can Entrepreneurship Be Taught

1355 WordsDec 29, 20106 Pages
GROUP 3 PRESENTATION Question 3 • Can we teach entrepreneurship and bring some entrepreneurial awareness and changes among individuals. Give evidence Approach in answering the Question • Definition of Entrepreneurship • Entrepreneurship education • Approaches to teach entrepreneurship • Conclusion The concept of entrepreneurship There is no universal agreed definition of entrepreneurship. However, Entrepreneurship is defined differently by different scholars. Schumpeter (1934) defines Entrepreneurship as a person’s ability to be innovative in terms of goals, methods of production, markets, sources of supply and industrial organization. The concept of entrepreneurship cont…. Also, Craven (2008) believes that all successful…show more content…
• The University of Illinois’s Academy for Entrepreneurial Leadership describes entrepreneurship as “a process that can lead to creative solutions to social problems or the formation of new and innovative enterprises.” • As such, entrepreneurship “spans opportunity recognition and resource acquisition and leads to innovation and invention.” The key aspects of entrepreneurship Three aspects of the entrepreneurial process are identified in these definitions: • Opportunity identification and recognition, • Resource acquisition and • Innovation. The key aspects of entrepreneurship cont.. • Schumpeter’s interpretation of entrepreneurship includes all three of these aspects, while Schultz’s idea of adjustment to exogenous economic change is largely covered by opportunity recognition and resource acquisition. • Knight’s, Kirzner’s, and Schultz’s concepts of entrepreneurship also suggest a fourth aspect: the management of existing resources in a new or established organization. The key aspects of entrepreneurship cont.. • All these aspects of entrepreneurship involve bearing uncertainty, as suggested by Cantillon and Knight . How are these aspects of entrepreneurship taught? Let us consider each aspect in turn Identifying and
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