How Entrepreneurial Business Organization Affect a Growing Economy.
COURSE: BUS: 1010: INTORDUCTION OF BUSINESS ORGANIZATIONS.
SEMESTER: SPRING 2015
INSTRUCTOR: NAMADA JULIANA
ADM NO: 644067
NAME: BRIAN KIPRUTO CHELIMO
Table of Contents Abstract 3 2.0 Forms of Entrepreneurship 4 1.0 Introduction 4 1CREATION OF EMPLOYMENT 4 2Poverty reduction 5 3Socio-economic and political solutions 6 4Economic growth and Development 7 2.1 Entrepreneurial Effects in the Growth of Economy 8 Conclusion 9 REFERENCES 10
According to Chell & Ozkan, (2010), an entrepreneur is someone who is willing to bear the riskofa …show more content…
According to Carree and Thurik (2002), entrepreneurs in history have often been represented in many faces and assumed different roles. As identified by scholars such as Schumpeter, Kirzner and Knight, entrepreneurs can be termed as innovators, profit opportunists and uncertainties and risk takers respectively. Schumpeter drew his attention to understanding an entrepreneur as an innovator. As an innovator, the entrepreneur performs new combinations which Schumpeter called enterprises (Karlsson, Friis & Paulsson, 2004). An entrepreneur according to Kirzner perceived profit opportunities. This role is what was labeled Kirznerian entrepreneurship. The last role of an entrepreneur is that of assuming the several risks and uncertainties which may be associated with running a business. This role is labeled Knightian entrepreneurship. As the individual introduces a new product in the market or starts a new business, this entrepreneurial role can be described in terms of the three labels. As posted by Audretsch & Lehman (2005), the