ENT 526 Lecture Notes - Lecture 2: Creative Destruction, Average Revenue Per User, Joseph Schumpeter
23 Oct 2017
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An entrepreneur is the person who destroys the existing economic order by introducing new products and services, by introducing new methods of production, by creating new forms of organization, or by exploiting new raw materials. An entrepreneur is the person who perceives an opportunity and creates an organization to pursue it. First used in 1723, today the term entrepreneur implies qualities of leadership, initiative and innovation in business. Economist robert reich has called team-building, leadership, and management ability essential qualities for the entrepreneur. 1934: joseph schumpeter innovators who change the status quo to set up new products and new services and an entrepreneur is willing and able to convert a new idea or invention into a successful innovation. Entrepreneur: someone who perceives an opportunity and builds an organization to pursue that opportunity. that opportunity. Entrepreneurship is the process of starting a business or other organization.
