Showing papers on "Entrepreneurship published in 1982"

The Social Dimensions of Entrepreneurship

Abstract: Conventional ways of viewing the social aspects of entrepreneurship are considered unsatisfactory; hence, this emphasis is recast in terms of the "entrepreneurial event." The entrepreneurial event is shaped by groupings of social variables (such as ethnic groups) and the social and cultural environment. The entrepreneurial event is denoted by initiative-taking, consolidation of resources, management, relative autonomy, and risk-taking. The proposed paradigm attempts to include all versions of the entrepreneurial event and all variables (situational, social, and individual) identified with the event. The paradigm will answer two basic questions: what brought about the life-changing event? and why this particular event? Negative information, events, or displacements often lead to entrepreneurial events. The particular action taken depends upon (1) perceptions of desirability (values), and (2) perceptions of feasibility. The utility of the paradigm lies in its application to questions of policy, historical examples, and future research. (TNM)

The Psychology of the Entrepreneur

Abstract: This chapter surveys the psychological literature on entrepreneurs, published prior to 1982, including research on their personal characteristics and previous personal and business experiences There is no well-defined population of entrepreneurs (due to lack of consensus on definition), so comparisons and generalizations are dangerous; however, there is some consistency in psychological characteristics Three categories of research are discussed (1) Psychological characteristics A causal link between high need for achievement and small business ownership is not found; an internal locus-of-control belief does not distinguish entrepreneurs, but may identify successful ones; propensity for risk-taking may not be related to either entrepreneurship decision or success; personal values (need for achievement, independence, and effective leadership) may effectively distinguish successful entrepreneurs from the general population (2) Effects of previous experience Dissatisfaction with previous jobs (except pay) characterizes entrepreneurs; an unemployed person is more likely to start a business; and a large percentage of entrepreneurs had role models who were entrepreneurs (3) Personal characteristics associated with entrepreneurs Entrepreneurial decisions are most likely made between ages 25 and 40; entrepreneurs are better educated than the general population; and entrepreneurs are likely to remain in their home area The research is synthesized into a tentative model of the entrepreneur Future research subjects and methods are proposed (TNM)

Tracking Strategy in an Entrepreneurial Firm1

Abstract: This study tracks the strategies of a retail chain over 60 years of its history to show how that vague concept called strategy can be operationalized and to draw conclusions about strategy formatio...

The Entrepreneur: An Economic Theory

Abstract: Casson contends that, because of several assumptions made by classical economic theory, there is no established economic theory of the entrepreneur. A theory of the entrepreneur is needed to explain firm success or failure, firm creation and growth, economic growth and development, and income distribution. The entrepreneur is significant historically because, although he is atypical, he has altered the course of history. The essence of a theory of the entrepreneur should be both the rationalization of success and explanation of failure. A theory of the function of the entrepreneur will have an important role in a theory of economic dynamics, the competitive process, and trade cycles. The book proceeds based on two reconstructions of economic theory. (1) Individuals differ in taste and access to information; the entrepreneur proceeds on the basis of the unique information available to him. (2) There are inherent difficulties (transaction costs) in organizing markets; the entrepreneur often must create market institutions. Casson's theory converges functional and indicative definitions of the entrepreneur. He defines an entrepreneur as "someone who specializes in taking judgmental decisions about the coordination of scarce resources." Skills essential for the entrepreneur are identified. The most important concept for Casson's theory is coordination, as a problem and a process, private or social. It is the dynamic counterpart of allocation; two mechanisms are contract and conjecture. Bargaining must converge to equilibrium. The entrepreneur's assessment (the role of his superior judgment) of a situation (coupled with his role as intermediator) is crucial toward influencing where, when, and how coordination occurs. Coordination reduces the entrepreneur's exposure to uncertainty through insurance and speculation. Coordination is difficult in the realm of public goods (goods in common ownership). Entrepreneurial coordination is always partial, because it engages only a small sector of the economy; partial coordination is continuous, and overall consistency cannot be guaranteed. The theory of the entrepreneur is related to the theory of the market making firm: the entrepreneur operates in a market economy through the firm, of which the entrepreneur is the founder or owner-manager. To overcome obstacles to trade, market-making activities are required, which involve information and incur costs. Transaction costs can be reduced by market internalization. The entrepreneur can internalize the exploitation of commercial information upon which his superior judgment is based. When re-contracting is difficult, the market-maker responds by building inventory. Market-making services to buyers and sellers are usually packaged by an intermediator; the entrepreneurship function of producers and retailers is "impure." The economies of centralized control, which can be delegated and occur in many forms, can be attributed to the internalization of a market. Entrepreneurs adopt hard-line bargaining strategies because they believe they have superior market knowledge. The economic factors governing the growth rate of the firm are analyzed using concepts developed previously in the book. New firm formation results from opportunity recognition by the entrepreneur and the belief that it is best exploited by self-employment; the family is a major source of capital, labor, and information. The market for entrepreneurs operates uniquely; it allocates judgment decisions to entrepreneurs. The number of entrepreneurs and their rewards are analyzed. Because of major social and economic barriers, the heroic figure of the entrepreneur is a myth; entrepreneurship, however, is important for social mobility, even though the absolute degree is rather limited. Alternative economic theories of Leibenstein, Hayek and Kirzner, Knight, Schumpeter, and Andrews and Penrose are critically reviewe

Encyclopedia of entrepreneurship

Abstract: Reviews the state of entrepreneurship research from multiple frameworks, including sociological and psychological views of the entrepreneur, economic development, venture capital, and education. Entrepreneurship is defined as the creation of new business enterprises by individuals or small groups, with the entrepreneur assuming the role of society's major agent of change, initiating the industrial progress that leads to wider cultural shifts. Entrepreneurship research flourished in the 1970s, with growing general public interest, an increase in course offerings, and rising federal interest and spending. These trends point to the necessity of synthesizing entrepreneurship research, which is still in its infant stage. With this goal in mind, the book is divided into five categories of research: (1) the entrepreneur (general definitions, psychology and sociology); (2) entrepreneurial technology (small vs. big business, venture and risk capital; (3) progress (economic growth and development, innovation, and environmental factors); (4) academia (methods and directions of research and education); and, finally (5) areas for future study. While findings from the reviewed research provide important insights into entrepreneurship, overall the literature lacks a clear basis for understanding the effects and effectiveness of entrepreneurship education -- that is, what the entrepreneurial process consists of, and whether it can be taught or learned. In addition, as most of the studies are considered 'exploratory,' more developed, systematic research methods need to be implemented as the field develops. After all, it is concluded, policies based on entrepreneurship research will play a key role in shaping not only industry, but our society's rate of progress and future well-being. (CJC)

Tolerance of ambiguity as a discriminating variable between entrepreneurs and managers

Abstract: The present study investigated if, in accord with the propositions made by both economists and students of the entrepreneur in the management literature, entrepreneurs (individuals who started thei...

Cultural Entrepreneurship in Nineteenth-Century Boston, Part II: The Classification and Framing of American Art:

Abstract: The organizers and early managers of the Museum of Fine Arts, the Boston Symphony Orchestra and similar institutions throughout the United States were in the business of mapping and defining cultural boundaries. By cultural boundaries. I mean boundaries between cultural forms that also serve to define and to maintain boundaries among people, since shared tastes and cultural experiences provided a fundamental source of feelings of solidarity to participants in social groupings (DiMaggio and Useem, 1977). Mary Douglas (1966: 138) has written, 'It is my belief that people really do think of their own social environment as consisting of other people joined or separated by lines which must be respected'. The same can be said of cultural forms-varieties of art, leisure, cuisine or sport-that are identified with or monopolized by specific status groups. People perceive such forms as naturally distinct. An orchestra that performed a popular tune on a program of Beethoven would shock its audience. We do not expect to hear chamber music at a rock concert, nor do we expect to see magazine advertisements hanging next to old masters on the walls of an an museum. Such juxtapositions shock because they violate ritual boundaries that emerge out of and reflect the ways in which social groups organize themselves and categorize one another. Cultural categories reflect social distinctions and transform them symbolically from social accomplishments to natural facts. The strength of the boundaries among artistic genres varies with the importance of those genres to the ritual life of social groups. Strong classifications are highly ritualized. In modern societies, performances and exhibitions are often what Bernstein (1975a: 54) has called 'differentiating rituals'. rituals that 'deepen local attachment behaviour to. and detachment behaviour from, specific groups' .1 Every status group needs elements of a culture that it can call its own. A shared culture plays an important role in the ritual life of a group; it also serves as a signalling device, enabling members to recognize other members and to detect outsiders. As We ber noted, mastery of the elements of a status culture becomes a source of honor to group members. Particularly in the case of a dominant status group, it is important that their culture be recognized as legitimate by, yet be only partially available to, groups that are subordinate to them. For Boston's cultural capitalists of the nineteenth century, the organizational separation of high from popular culture (described in DiMaggio. 1982)was necessary, but not adequate. High culture would have to be imbued with sacredness, and, as sacred, removed from contact with profane or popular culture (see Douglas, 1966). The purification of the classification high v. popular, the driving of profane culture

The practice of entrepreneurship

Abstract: Based on the experience and research of the authors, all of whom are management consultants, this book deals with the personal traits and financial and external aspects of entrepreneurs. The text is directed at practising managers, would-be entrepreneurs and management advisors.

The Urban Quality of Life and Entrepreneurship

Abstract: This paper examines the influence of quality of life on entrepreneurial activity in 70 urban metropolitan areas. Economic and health/educational quality of life were found to have a positive impact...

Marketing Behaviour and Entrepreneurship: A Synthesis of Alderson and Austrian Economics

Abstract: Postulates that the main purpose here is to merge the ideas of Wroe Alderson, a leading original marketing theorist, using recent works in Austrian economies in order to provide a point of departure for an entrepreneurial‐based theory of marketing. States that there are three parts herein: first, reviews Alderson's concepts of market behaviour, integrating them with the Austrian perspective; second, addresses an investigation of the nature of information required in dynamic markets; third, establishes the role of the entrepreneur in the dynamic market as the means of answering this question. Investigates the homogenous market and the discrepant market, discussing these in depth and also discussing entrepreneurship as dynamic marketing behaviour. Concludes that since entrepreneurs are motivated by profit, however defined, then any suppression or taxation of profits will reduce entrepreneurship, lessen marketing activity and decrease the congruence between wants and supplies.

Reinventing the Bourgeoisie: State Entrepreneurship and Class Formation in Dependent Capitalist Development

Abstract: This study examines the attempts of the Brazilian state to promote the expansion of the role of local capital in the capital goods and petrochemical industries during the period 1974-79. In the capital goods industry the attempt was unsuccessful and generated serious political opposition to the regime among local entrepreneurs, thus illustrating the extent to which processes of class formation lie outside the control of even a relatively powerful state apparatus. In the petrochemical industry the existence of a powerful state enterprise within the sector was critical to the state's ability to restructure the industry. What resulted was neither a "reinvention of the bourgeoisie" nor the creation of a "state capitalist" sector but, rather, an interesting oligopolistic community in which state and private local capital are thoroughly integrated and similarly organized. It is suggested that focusing on the concrete forms of such oligopolistic communities represents the most promising strategy for understandin...

Small industry in developing countries

Abstract: This paper first examines the changing size distribution of industry in developing countries by region and over time, and, by reference to firm-level surveys, it discusses the underlying causes. The importance of markets generated by the growth of agriculture and rural incomes for the regional development of industry, both small- and large-scale, is noted. Second, it discusses the entrepreneurship issue, arguing that while small and large firms alike are highly responsive to the growth of markets, the measured entrepreneurial response is neither as full nor as efficient as is desirable. The third and last part discusses small industry programs and their relation to development policy. Financing and extension programs are considered in detail, and there is a discussion of the risks involved. Some parallels with agricultural credit are discussed. It is also argued that small industries would stand to benefit from more efficient policies towards agriculture and industry.

State Entreprenuership and Dependent Development

Abstract: State entrepreneurship is a policy through which productive enterprises are owned as public agencies but operated in accordance with standard business criteria. State intervention of this kind is increasingly common in the Third World, where the policy is a response to the entrepreneurial capabilities and proclivities of local-private and multinational enterprise. Existing accounts of the interrelationship of state, local, and multinational entrepreneurship are studied and found to have a number of theoretical shortcomings. These deficiencies are eliminated by formalizing the central tenets of the explanations and then deducing the generic properties of entrepreneurship histories. In turn, nonintuitive insights emerge concerning the prospects for survival of the triple alliance of state, local, and multinational capital. Finally, the groundwork is laid for a more in-depth study of selected political and economic determinants of state entrepreneurship.

Can political entrepreneurs solve the free-rider problem?

Abstract: A solution of the problem of voluntary collective action, employing an improved concept of political entrepreneurship is proposed. This solution is consistent with large numbers of actors and pure public goods (joint production of private goods and asymmetry are not assumed). The importance of information imperfections in producing suboptimality in the provision of public goods is emphasized. Political entrepreneurship is made to parallel the Knightian concept of the entrepreneur, emphasizing the role of risk-taking and information collecting.

The bounds of entrepreneurship: Inter‐organizational relationships in the process of industrial innovation

Abstract: This paper examines the links between entrepreneurship and innovation in modern business corporations. It extends Alford's idea of ‘diffused entrepreneurship’ to the interrelationships between firms. By drawing upon the literatures of business policy and marketing, it draws attention to the ‘porous’ boundaries of industrial organizations as open systems, and to the need to examine the balance between the part played by individuals within such organizations and that played by innovative organizational processes themselves.

Demographic Perspectives on Pakistan's Development

Abstract: Population growth is reemerging as a matter of public concern in Pakistan, following a decade in which development issues and activities were overshadowed by war with India, the secession of East Pakistan, the rise and fall of the Bhutto government, and subsequent political turmoil and tension. Demographic trends in the areas that now comprise Pakistan initially attracted attention in the late 1920s and early 1930s, a time of stocktaking in regard to the major irrigation and resettlement program then underway in the central and southern Punjab. Colonial authorities feared sustained population growth would undermine the agricultural prosperity that had been achieved in canal colony schemes. Officials with knowledge of village conditions pressed for an activist policy in which publicity campaigns and visits by field agents would be used to mobilize communities and to change attitudes and aspirations bearing on economic and demographic behavior. As part of the same approach, incentives were to be directed at large landowners, who were expected to play a leading role in the economic and demographic transformation of the rural sector. No such comprehensive strategy was ever pursued by the colonial regime, which was subject to severe political, financial, and manpower constraints in its final years. Concern for the consequences of demographic change was voiced again in the 1960s, a second period of rapid economic advance in Pakistan. Population growth was seen as a factor that could dampen the impact of a development strategy that relied on the entrepreneurship and savings of noncultivating landowners to generate gains in agricultural output and employment. An ambitious family planning program was implemented, along with such policies as liberalization of foreign trade, agrarian reforms, government efforts to ensure supplies of key agricultural inputs, and the creation of a system-the Basic Democracies-of local administration and control. As in the 1930s, however, these enlightened measures foundered.

New Markets and Good Deeds: On Altruism and Exemplary Entrepreneurship

Abstract: Most anthropological treatments of entrepreneurship view the entrepreneur as an innovator concerned with maximizing profits. In the work of Fredrik Barth, the profit-seeking aspect has been generalized in a model of social organization based on transactional relations, while the innovation aspect has been promoted to the status of explaining social change. Change has been perceived as a function of (successful) entrepreneurship. This paper explores a situation where individuals consciously become entrepreneurs as a function of their expressed commitment to social change. They link their entrepreneurstip explicitly to the goal of inducing in a particular society-Israel-social change of a special sort. These individuals comprise a segment of recent American immigrants to Israel.

Entrepreneurship and the West in East Asian Economic and Business History

Abstract: The nations of East Asia share a common cultural heritage, but there is a marked difference in their adaptation to the modern world. During the past century Japan has been distinguished by enormous economic development, while China has experienced profound political turmoil. East Asian historiography reflects this trend. One can compile an outstanding bibliography on economic growth in Japan, and Japan's recent challenge to American business has prompted scholars to probe more subtly the business organization and managerial practices of that country. As for China, although there are numerous studies on political revolution, there are only a few studies on business history. This special issue of the Business History Review has helped to fill this gap in scholarship.

Effective R&D Operations in the '80s: Entrepreneurship in R&D — A State of Mind

Abstract: (1982). Effective R&D Operations in the '80s: Entrepreneurship in R&D — A State of Mind. Research Management: Vol. 25, No. 1, pp. 13-16.