31-05-2013, 02:03 PM
Entrepreneurship and entrepreneur: A review of literature concepts
ABSTRACT
The field of entrepreneurship is still a relative one that is less explored, and many opinions in regard to
defining the concepts of entrepreneurship and entrepreneurs remain the same. A trial was made by this
paper to explore the diversity of concepts identified in specialty literature, and this was approached in
their historical evolution. Entrepreneurship entails forming a new organization or restructuring an
organization which has already been in existence. It is often a complicated enterprise, so,
consequently, numerous enterprises find loads of difficulties in survival. This is an entirely different
field involving unique personality traits on the part of the entrepreneur, such as good communication
skills, patience, foresightedness, and many more traits, which heads his personality to a brighter side.
We believe in opportunities for advancing understanding on the historical role of culture and values on
entrepreneurial behavior, using more careful methodologies than in the past, and seeking to specify
more exactly how important culture is relative to other variables. There still are major opportunities to
complement research on the role of institutions in economic growth by exploring the precise
relationship between institutions and entrepreneurs. Finally, conclusions are drawn and some future
research directions outlined.
INTRODUCTION
The creation of dynamism and wealth of a country
depends on the competitiveness of its companies, and
this is fundamentally based, in its turn, on the capacities
of the entrepreneurs and managers (Cuervo et al., 2008).
The entrepreneurship is one of the fields with the most
rapid evolution in economy, management, finance and
even in legislation (Baron and Henry, 2010). More than
40 years ago, Baumol remarked that "the attempt to understand
the entrepreneurship without the entrepreneur is
like the attempt to understand Shakespeare without
Hamlet."
ENTREPRENEUR AND ENTREPRENEURSHIP: THE
PERSPECTIVE OF CONCEPTS
Entrepreneurship is a multidimensional term that is
extremely difficult to define (Carree and Thurik, 2005).
This complicates the possibility of measuring the level of
entrepreneurial activities and, as a consequence, their
impact over the economic performance.
Throughout history, entrepreneurial thinking has
evolved with unpredictable twists and profound developments
(international trade, demand curves, competition
as a discovery mechanism, the opportunity construct),
offering new conceptualizations of actions that would
have an entrepreneurial nature (Murphy et al., 2006).
Besides the fact that it presents a form of expression
different from the modern era, the success of
entrepreneurship in ancient and medieval time depended
on upgrading risk and institutional constraints. Thus, in
Ancient Rome, around the year 50 BC, disposable
incomes of entrepreneurial activity were according to
social controls, regulations, and institutions. Personal
accumulation of wealth has been accepted by the society
as long as they do not involve the direct participation in
industry and commerce, an area populated by former
slaves. Wealth was generated from three main sources:
land ownership, loans, and payments with political
character.
CONCLUSION
This paper presents various approaches identified in the
specialty literature of the concepts of entrepreneur and
entrepreneurship; tracking them in a particular historical
succession. Although, entrepreneurship as a practical
activity appeared in antiquity, creating a scientifically
theoretical framework is carried out only since the middle
of the eighteenth century.
In this respect, there were many opinions on the nature
of entrepreneurial activities. A feature present in many
studies from different periods shows risk taking as a key
condition to start an entrepreneurial activity. Other
authors have regarded innovation as central point of
entrepreneurship, and more recently, the identification
and use of the opportunities are considered basic
conditions of entrepreneurship.
Although we have identified a diversity of opinions, we
can appreciate that there is still no consensus in defining
the two concepts. We consider simultaneously
addressing two fundamental concepts because they condition
each other; we cannot talk about an entrepreneur
without considering the qualities of entrepreneurship and
entrepreneur.