ENTREPRENEURS ARE THEY BORN OR MADEI
ENTREPRENEURS, ARE THEY BORN OR MADE?
I. Introduction
Entrepreneurship is difficult to define. Scholars and experts have tried to formulate a definition that embodies the very essence of entrepreneurship in order to capture this abstract idea. Though the idea has been identified and indicated by a diverse set of interpretations, no single idea of entrepreneurship has been unanimously accepted and embraced by all economists or applicable in all circumstances. There are so many interpretations now available that help people grapple with the nature of entrepreneurship, though none can offer an answer with clear authority. This paper, which is library research based, aims to find the answer to that question that sparks the debate whether entrepreneurs are born or made. The definitions of entrepreneurship and the behaviors that are associated with entrepreneurial characteristics will be provided along with some examples of entrepreneur or entrepreneurial activities. Finally, the conclusion will be given at the end of the paper.
II. Supporting Theory For Entrepreneurship
An 18th French economist Richard Cantillon first introduced the word “entrepreneur”. He stated that the entrepreneur is an “agent who buys means of production at certain prices in order to combine them into new product” (Schumpeter, 1951,pp.248-250). Another French economist, J.B. Say, later added to Cantillon’s definition by stating that an entrepreneur is someone who brings other people together in order to build a single productive organism (Schumpeter, 1951). Overtime, “writers have identified entrepreneurship with the function of uncertainty-bearing, others with the coordination of productive resources, others with the introduction of innovation, and still others with the provision of capital” (Hoselitz, 1952.vol2).
In the 19th century, scholars proposed various opinions on the matter as suggested by the British economists such as Adam Smith, David Ricardo who tend to undervalue the importance of
I. Introduction
Entrepreneurship is difficult to define. Scholars and experts have tried to formulate a definition that embodies the very essence of entrepreneurship in order to capture this abstract idea. Though the idea has been identified and indicated by a diverse set of interpretations, no single idea of entrepreneurship has been unanimously accepted and embraced by all economists or applicable in all circumstances. There are so many interpretations now available that help people grapple with the nature of entrepreneurship, though none can offer an answer with clear authority. This paper, which is library research based, aims to find the answer to that question that sparks the debate whether entrepreneurs are born or made. The definitions of entrepreneurship and the behaviors that are associated with entrepreneurial characteristics will be provided along with some examples of entrepreneur or entrepreneurial activities. Finally, the conclusion will be given at the end of the paper.
II. Supporting Theory For Entrepreneurship
An 18th French economist Richard Cantillon first introduced the word “entrepreneur”. He stated that the entrepreneur is an “agent who buys means of production at certain prices in order to combine them into new product” (Schumpeter, 1951,pp.248-250). Another French economist, J.B. Say, later added to Cantillon’s definition by stating that an entrepreneur is someone who brings other people together in order to build a single productive organism (Schumpeter, 1951). Overtime, “writers have identified entrepreneurship with the function of uncertainty-bearing, others with the coordination of productive resources, others with the introduction of innovation, and still others with the provision of capital” (Hoselitz, 1952.vol2).
In the 19th century, scholars proposed various opinions on the matter as suggested by the British economists such as Adam Smith, David Ricardo who tend to undervalue the importance of
References: 1. Schumpeter, Joseph A., Essays of J.A. Schumpeter, Cambridge, MA: Addison Wesley Press, Inc., 1951, Pp.248-250 2 3. Cohen, N., “The Five Ages of the Entrepreneur.” Venture. 1980 July. Pp.40-42. 4. http://www.celcee.edu/news/c982364.html (May 2003) 5 6. http://www.celcee.edu/news/c971204.html (May 2003) 7 8. Kao, John J., Entrepreneurship, Creativity and Organization, Harvard Business School, Boston, MA, 1989, 98 9 12. Lord, M. March 29, 1999. Attention, aspiring capitalists; B-school students are studying entrepreneurship. U.S. News Online. Available: usnews.com. http://www.c992600.html. (May 2003) 13