ADM 2313 Lecture Notes - Lecture 1: Joseph Schumpeter, Creative Destruction, Root Mean Square

• School: University of Ottawa
• Department: Administration
• Course: ADM 2313
• Professor: Mark Freel

Document Summary

> describe the main theories and concepts of the entrepreneur, compare and contrast these theories, describe the process of entrepreneurship, critically examine the personality approach to the entrepreneur, discuss how socio-behavioural factors a ect this process. > entrepreneurship is by de nition the creation of new organisations. vesper. > the pursuit of opportunity without regard to the resources currently under one"s control . > entrepreneurship is a mind set or way of thinking allen. > entrepreneurship, rigorously de ned, refers to the creation of a new economic entity centred on a novel product or service or, at the very least, one which di ers signi cantly from products or services o ered elsewhere in the market place. Innovator", schumpeter"s entrepreneur is special person a hero gure: knight---entrepreneur is a risk taker takes on risks associated with uncertainty pro t is the reward for risk taking. > the entrepreneur anyone who is alert to pro table opportunities for exchange.