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18 May 2018

The entrepreneurial world and the corporate world are very dissimilar such that entrepreneurial thinking and behavior will have no place in the corporate world.True OR False DEfend or Explain

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Bunny Greenfelder
Bunny GreenfelderLv2
21 May 2018

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Related questions

Write a short (2-3 page, double-spaced, typed) essay, identify at least one important entrepreneur that you would consider an "entrepreneurial legend" and state why you consider the person to be (or have been) exemplary. You must also identify at least one economic decision made by this entrepreneur that was significant in their success and provide a detailed example of that decision. Your reason for selecting the person should include examples of managerial economics and should include other criteria such as social responsibility and ethics.

Chapters 1-3: Select a question from the list below. Cite the question number (please refrain from restating the question, as we already know what it is), then give a good answer. Explain your reasoning or provide examples. If you answer the same as a prior respondent, give a unique rationale. Use original wording. Avoid copying any material from other sources in lieu of a unique answer, as that effort merely demonstrates that you know how to copy information. (Instead, we need evidence of thought.) The minimum length is a measly 125 words, which is probably attainable almost by accident, so try not to sneeze as you write.

No replies are necessary in concept challenges, but feel free to reply to others anyway, as often as you like.

1. Joseph Schumpeter described entrepreneurship as creative destruction. People have argued about what this means. Some people think it means that the entrepreneurial process is dangerous. What do you think Schumpeter actually meant by this?

2. Richard Cantillon coined the term entrepreneur in 1755. It means “one who undertakes [something].” How is this an apt description of the entrepreneurial function? Why do you suppose he chose “undertake,” rather than some other word?

3. Note how closely in time entrepreneurship and free-market economics (Adam Smith, 1776) emerged as concepts. Indeed, both Cantillon and Smith were economists (before there even were economists). What does this say about entrepreneurship?

4. How is the entrepreneur an inventor? How is the entrepreneur more than an inventor? What does an inventor need to become an entrepreneur? What kinds of innovations can an entrepreneur contrive, which simply never occur to an inventor?

5. Gifford and Elizabeth Pinchot coined the term intrapreneurship in 1978 to describe a person with entrepreneurial talent who was content to work for someone else. What quality does an entrepreneur have, which an intrapreneur is lacking?

Based on the high corporate tax rate in the United States, some companies have decided to move their capital outside of the United States (see: https://www.entrepreneur.com/article/237253). This has prompted some economists to argue that we need to reduce the corporate tax rate.

Other economists tell us not to worry about capital flight since our currency is one of the strongest in the World (see http://www.investopedia.com/articles/forex/030216/6-strongest-currencies-vs-us-dollar-2016.asp) and investors will always seek security over profits.

Which position do you agree with? Please explain your answer.

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