Entrep
Entrep
Entrep
Understanding
Entrepreneurship
Tonight
• Chapters 1 and 2
An Entrepreneur
One who
Organizes, Manages and Assumes Risk of a
Business or Enterprise
Merriam-Webster
Entrepreneurship is a mindset
– Opportunity-focused
– Innovative
– Growth-oriented
• Economic growth
• New industry formation
• Job creation
Source: Adapted from M. R. Darby and L. G. Zucker, “Growing by Leaps and Inches: Creative Destruction, Real
Cost Reduction, and Inching Up,” Economic Inquiry, January 2003, pp. 1-19 (January 2003).
1. Innovative
2. Value-creating
3. Growth-oriented
Source: Paul D. Reynolds. (2000) National Panel of U.S. Business Start-ups: Background and Methodology.
Databases for the Study of Entrepreneurship, Amsterdam: JAI/Elsevier Inc. Vol. 4, pp. 153-227.
Sources: U.S. Bureau of the Census; Administrative Office of the U.S. Courts; and U.S. Department of Labor,
Employment and Training Administration.