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2016 | OriginalPaper | Buchkapitel

4. Entrepreneurship: What It Really Is, and Why It Must Be Integrated into Management of the Firm

verfasst von : Annika Steiber, Sverker Alänge

Erschienen in: The Silicon Valley Model

Verlag: Springer International Publishing

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Abstract

This chapter examines what entrepreneurship consists of, describes what entrepreneurs actually do, and shows that their function is essential to companies of all ages and sizes. (Indeed, whole companies must become “entrepreneurs.”) A new definition of entrepreneurship is developed here, drawing on insights contributed by writers from Cantillon and Say to Joseph Schumpeter, Peter Drucker, and others. The chapter shows that entrepreneurship is definitely more than the act of starting new companies; it encompasses the process of creating and exploiting new business opportunities, wherever that process may occur. Also the chapter explores why our modern notion of “entrepreneurship” has become separated from “management,” and calls for a re-integration of the two—not just conceptually but in everyday practice.

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Fußnoten
1
We use the term “company” frequently here, but entrepreneurship is equally important for organizations in the not-for-profit and government sectors.
 
2
Again, this summary applies not only to business firms but also to not-for-profit and government-related organizations. They too can (and often must) dramatically change how they operate, and/or enter new lines of activity, in order to deliver maximum value. (For example the International Committee of the Red Cross was founded in 1863 to treat those wounded in battle, and still does so—but Red Cross and Red Crescent teams now work in many other areas of humanitarian aid as well, from disaster relief to economic development.) So wherever this chapter speaks of “companies” or “business,” please know that the basic concepts apply to organizations of all kinds.
 
3
Hitt et al. (2001), p. 479.
 
4
There are various English translations of Cantillon’s Essay; these quotations are from Cantillon, Saucier (trans), and Thornton, ed. (2010), p. 74. https://mises.org/library/essay-economic-theory-0 (Accessed 6 Aug 2015).
 
5
E.g., Lean Startup methodology to increase efficiency in the innovation process.
 
6
Sledzik (2013), p. 92.
 
7
Schumpeter (1942), p. 132.
 
8
Shane and Venkataraman (2000), p. 220.
 
9
Schumpeter (1942), p. 84.
 
10
Drucker (1985), p. 28.
 
11
This definition can be adjusted to the nonprofit and public sectors. “Business opportunities” become opportunities for the society or citizens, and “new revenue streams” become new value streams, i.e. new ways of benefiting people.
 
12
Drucker (1985), p. 20.
 
13
Burgelman (1983), Guth and Ginsberg (1990), Granstrand and Alänge (1995).
 
14
MacMillan (1986).
 
15
Antoncic and Hisrich (2001, 2003), Menzel et al. (2007), Parker (2011).
 
16
Intrapreneurship can be classified into eight dimensions: (1) New ventures, (2) New businesses, (3) Product/service innovativeness, (4) Process innovativeness, (5) self-renewal, (6) Risk taking, (7) Proactiveness, and (8) Competitive aggressiveness. (Antoncic and Hisrich 2003), p. 19.
 
17
Antoncic and Hisrich (2003), p. 20.
 
18
Menzel et al. (2007).
 
19
Waters and Waters ed. and trans. (2015).
 
20
See for example Hindo (2007).
 
21
See “Business school” with footnoted list of “Notable firsts” at Wikipedia (2015).
 
22
Daniel (1998), p. 40.
 
23
Ibid, p. 41.
 
24
Ibid, p. 82.
 
25
For instance Carnegie Mellon’s Graduate School of Industrial Administration (now Tepper School of Business), founded in 1949, was an early champion of computer-based analytic methods and operations research, and in 1958 was the first business school to teach decision making via computer simulation—its “Management Game” was elaborately modeled on actual businesses at Procter & Gamble. See for example Phillips (2007).
 
26
See for example Henricks (2003).
 
27
See for example Ewing M. Kauffman Foundation (2013).
 
29
The same situation exists within most engineering education as well—although also here programs focusing on entrepreneurship inside large corporations have recently been started, such as the one at Chalmers University of Technology, described on the Chalmers website as follows: “The Corporate Entrepreneurship track offers the students [the opportunity] to develop entrepreneurial skills to handle large scale of complexities in large firms, in enabling innovative new products and services to be developed. … the students work hands on in a real and innovative project of a large firm, where they will be able to develop and reflect on entrepreneurial behaviour and skills. In those projects the students will work in close collaboration with management from industry”.
 
Literatur
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Zurück zum Zitat Hitt, M. A., Ireland, R. D., Camp, S. M., & Sexton, D. L. (2001). Guest editors’ introduction to the special issue ‘Strategic entrepreneurship: Entrepreneurial strategies for wealth creation.’ Strategic Management Journal, 22, 479–491. Hitt, M. A., Ireland, R. D., Camp, S. M., & Sexton, D. L. (2001). Guest editors’ introduction to the special issue ‘Strategic entrepreneurship: Entrepreneurial strategies for wealth creation.’ Strategic Management Journal, 22, 479–491.
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Zurück zum Zitat Menzel, H. C., Aaltio, I., & Ulijn, J. M. (2007). On the way to creativity: Engineers as intrapreneurs in organizations. Technovation, 27(12), 732–743. Menzel, H. C., Aaltio, I., & Ulijn, J. M. (2007). On the way to creativity: Engineers as intrapreneurs in organizations. Technovation, 27(12), 732–743.
Zurück zum Zitat Parker, S. (2011). Intrapreneurship or entrepreneurship? Journal of Business Venturing, 26(1), 19–34.CrossRef Parker, S. (2011). Intrapreneurship or entrepreneurship? Journal of Business Venturing, 26(1), 19–34.CrossRef
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Metadaten
Titel
Entrepreneurship: What It Really Is, and Why It Must Be Integrated into Management of the Firm
verfasst von
Annika Steiber
Sverker Alänge
Copyright-Jahr
2016
DOI
https://doi.org/10.1007/978-3-319-24921-6_4