Dollinger index

A Framework for Entrepreneurship 9

Within these definitions, we might find the following common elements and charac-

teristics:

• Creativity and innovation


• Resource identification, acquisition, and marshaling


• Economic organization


• Opportunity for gain (or increase) under risk and uncertainty
  Entrepreneurship, then, is the control and deployment of resources to create an inno-
  vative economic organization (or network of organizations) for the purpose of gain or
  growth under conditions of risk and uncertainty.^18 What are the implications of this def-
  inition?

Knight (1921)
Schumpeter (1934)

Hoselitz (1952)

Cole (1959)
McClelland (1961)
Casson (1982)
Gartner (1985)
Stevenson, Roberts, &
Grousbeck (1989);
Barringer & Ireland
(2006)
Hart, Stevenson,
& Dial (1995)

Shane & Venkataraman
(2000)
Kuratko & Hodgetts
(2004)
Allen (2006)

TABLE 1.1 Definitions of Entrepreneurship

Profits from bearing uncertainty and risk

Carrying out of new combinations of firm organization—new products,

new services, new sources of raw material, new methods of production,

new markets, new forms of organization

Uncertainty bearing...coordination of productive resources... introduction

of innovations and the provision of capital

Purposeful activity to initiate and develop a profit-oriented business

Moderate risk taking

Decisions and judgments about the coordination of scarce resources

Creation of new organizations

The pursuit of opportunity without regard to resources currently

controlled

The pursuit of opportunity without regard to resources currently

controlled, but constrained by the founders’ previous choices and

industry-related experience

A field of business seeks to understand how opportunities create

something new...

A dynamic process of vision, change and creation...

A mindset or way of thinking that is opportunity focused, innovative and

growth-oriented. Can be found in large corporations and socially

responsible not-for-profits...

Source Definition

SOURCE : F. Knight, Risk, Uncertainty and Profit (Boston: Houghton Mifflin, 1921); J. Schumpeter, The Theory of Economic

Development (Cambridge, MA: Harvard University Press, 1934); B. Hoselitz, “Entrepreneurship and Economic Growth.” American

Journal of Economic Sociology, 1952; A. Cole, Business Enterprise in Its Social Setting (Cambridge, MA: Harvard University,

1959); D. McClelland, The Achieving Society (New York: John Wiley, 1961); M. Casson, The Entrepreneur (Totowa, NJ: Barnes

and Noble, 1982); W. Gartner. “A Conceptual Framework for Describing the Phenomenon of New Venture Creation,” Academy of

Management Review 10, 1985:696–706; H. Stevenson, M. Roberts, and H. Grousbeck, New Business Venture and the Entrepreneur

(Homewood, IL: Irwin, 1989); M. Hart, H. Stevenson, and J. Dial, “Entrepreneurship: A Definition Revisited,” Babson Frontiers of

Entrepreneurship Research, 1995; S. Shane and S. Venkataraman, “The Promise of Entrepreneurship as a Field of Research,”

Academy of Management Review 25, 2000:217-226; D Kuratko,and R. Hodgetts, Entrepreneurship, 6th ed. (Mason, Ohio:

Thompson-Southwestern, 2004); B. Barringer and D. Ireland, Entrepreneurship (NJ: Prentice-Hall, 2006) and K. Allen, Launching

New Ventures (Boston: Houghton Mifflin, 2006).