A Framework for

Entrepreneurship

“Twenty years ago students who dared to say they wanted to start their own companies would be sent for
counseling. Today entrepreneurship is the fastest-growing course of study on campuses nationwide.”
—Jerome Katz, professor of management, St. Louis University

OUTLINE

LEARNING OBJECTIVES

After reading this chapter, you will understand

• how entrepreneurship may affect your future, whether you’re an employee, a venture cre-
  ator, or a consumer.


• how to define entrepreneurship.


• that entrepreneurship is a worldwide phenomenon.


• how the concept of a new entrepreneurhas emerged.


• that entrepreneurship is a multidimensional concept.


• the paradoxesof entrepreneurship.

2

CHAPTER

1

Entrepreneurship and Your Future
How Does the “New
Entrepreneurship” Add Up?
What Is Entrepreneurship?
Creation and Innovation
Control and Deployment of
Resources
Economic Organization
Risk and Uncertainty
Where Is Entrepreneurship?
Economic Growth and Freedom
Who Is the New Entrepreneur?

Dimensions of Entrepreneurship
New Venture Creation
Analysis Opportunity
The Individual
The Environment
The Organization

Paradoxes of Entrepreneurship

Intelligence Paradox

Barriers to Entry Paradox

Organization of the Book

A Final Word

Summary