When you think of the word entrepreneur, what comes to mind? You may think of someone who is willing to take financial risks and perhaps has many great ideas for start-ups or other new business ventures. These concepts form part of the idea of entrepreneurship, but there is more to entrepreneurship than being bus iness minded or financially savvy. In this Discussion, you will explore conceptual and theoretical underpinnings of what some describe as the entrepreneurial spirit and will assess the value of entrepreneurship on the economy and society. To prepare for this Discussion, review this week’s Learning Resources and focus, in particular, on the “why” of entrepreneurship and the theoretical underpinnings of the entrepreneurial spirit. Consider also the value that entrepreneurs bring to the global economy.
Post an assessment of the value of entrepreneurship to global economic and societal development. In your assessment, do the following:
- Analyze the role of entrepreneurs in local and global business development.
- Evaluate the relationship between entrepreneurship and positive social change.
- Describe one or two future trends in finance and economics that may affect entrepreneurs.
Be sure to support your work with a minimum of two specific citations from this week’s Learning Resources and one or more additional scholarly sources.
LEARNING RESOURCES
Required Readings
- Arend, R. J., Sarooghi, H., & Burkemper, A. (2015). Effectuation as ineffectual? Applying the 3E theory-assessment framework to a proposed new theory of entrepreneurshipLinks to an external site.. Academy of Management Review, 40(4), 630–651. doi:10.5465/amr.2014.0455
- Frederiksen, L., Wennberg, K., & Balachandran, C. (2016). Mobility and entrepreneurship: Evaluating the scope of knowledge-based theories of entrepreneurshipLinks to an external site.. Entrepreneurship: Theory & Practice, 40(2), 359–380. doi:10.1111/etap.12223
- Gielnik, M. M., Spitzmuller, M., Schmitt, A., Klemann, D. K., & Frese, M. (2015). “I put in effort, therefore I am passionate”: Investigating the path from effort to passion in entrepreneurshipLinks to an external site.. Academy of Management Journal, 58(4), 1012–1031. doi:10.5465/amj.2011.0727
- Hsu, D. K., Wiklund, J., & Cotton, R. G. H. (2017). Success, failure, and entrepreneurial reentry: An experimental assessment of the veracity of self-efficacy and prospect theoryLinks to an external site.. Entrepreneurship: Theory & Practice, 41(1), 19–47. doi:10.1111/etap.12166
- Huang, L., & Knight, A. P. (2017). Resources and relationships in entrepreneurship: An exchange theory of the development and effects of the entrepreneur-investor relationshipLinks to an external site.. Academy of Management Review, 42(1), 80–102. doi:10.5465/amr.2014.0397
- Document: Final Paper Guidelines Download Final Paper Guidelines(PDF)
Optional Resources
- Domurath, A., & Patzelt, H. (2016). Entrepreneurs’ assessments of early international entry: The role of foreign social ties, venture absorptive capacity, and generalized trust in others. Entrepreneurship: Theory & Practice, 40(5), 1149–1177. doi:10.1111/etap.12164
- Hockerts, K. (2017). Determinants of social entrepreneurial intentions. Entrepreneurship: Theory & Practice, 41(1), 105–130. doi:10.1111/etap.12171
- Korsgaard, S., Berglund, H., Thrane, C., & Blenker, P. (2016). A tale of two Kirzners: Time, uncertainty, and the ‘nature’ of opportunities. Entrepreneurship: Theory & Practice, 40(4), 867–889. doi:10.1111/etap.12151