Entrepreneurship – delineation of the concept and the areas of research
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February 14, 2023 — Updated on February 14, 2023
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- 2023-02-14 (1)
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Synopsis
DEFINITION OF THE TERM: Entrepreneurship refers to an individual’s ability to turn ideas into action. It includes creativity, innovation and risk-taking, as well as the ability to plan and manage projects in order to achieve objectives. This supports everyone in day-to-day life at home and in society, makes employees more aware of the context of their work and better able to seize opportunities, and provides a foundation for entrepreneurs establishing a social or commercial activity.
HISTORICAL ANALYSIS OF THE TERM: In the article, the discussion of the term is integrated with its historical analysis, as the current state of scientific knowledge in this area is the result of the development of entrepreneurship research, whereas previously in the economic discourse, elements of entrepreneurship were either analysed on the margins of broader considerations or were not analysed at all.
DISCUSSION OF THE TERM: The article discusses the seven functions of entrepreneurship identified in economics and management. The first four are the basic functions: entrepreneurship as a function of personality, as a function of managerial activities, as a function of the individual entrepreneur, and as a function of the market. To this list, three derivative functions of entrepreneurship are added: entrepreneurship as a function of the SME (small and medium-sized enterprise) sector of the economy, as a function of self-employment, and as an economic production factor.
SYSTEMATIC REFLECTION WITH CONCLUSIONS AND RECOMMENDATIONS: The article presents the theoretical and methodological framework of entrepreneurship theory at five levels of analysis (mega, macro, meso, micro, nano).
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