This topic examines the social and economic process underpinning entrepreneurship activity and the impacts of entrepreneurial activity on global, national and local economies. In particular it focuses on defining key concepts such as enterprise, entrepreneurship, entrepreneurs and innovation.
Entrepreneurship and innovation are now recognised as being among the key elements in the process of economic development and vital to the ability of a nation’s economy to maintain competitiveness. According to the Organisation for Economic Co-operation and Development (OECD) entrepreneurship and innovation are the key tools for dealing with many of the world’s social and economic challenges.
Not only is entrepreneurial activity important to job creation, but the long term economic growth of the world’s economies is strongly dependent on innovation within industry. Economic analysis indicates a strong and positive relationship exists between levels of national investment in R&D and the number of patents generated within an economy, and the level of economic and employment growth.
Textbooks and readings
Acs, Z., Astebro, T.B., Audretsch, D.B., and Robinson, D.T. (2016). Public Policy to Promote Entrepreneurship: A Call to Arms. Available at SSRN: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2728664 Duke I&E Research Paper No. 16-9; HEC Paris Research Paper No. SPE-2016-1137.
Bhide, A. (2000). The Origin and Evolution of New Businesses. Cambridge, Oxford University Press. Chapter 12.
Cunningham, J. B., and Lischeron, J. (1991). "Defining entrepreneurship." Journal of Small Business Management 29(1): 45-61.
Drucker, P. (2002). "The Discipline of Innovation." Harvard Business Review 80(8): 95-106.
Gibb, A. (1988). "The Enterprise Culture: Threat or Opportunity?" Management Decision 26(4): 5-12.
Hendrickson, L., Bucifal, S., Balaguer, A., and Hansell, D. (2015). The employment dynamics of Australian entrepreneurship; Research Paper 4/2015. www.industry.gov.au/Office-of-the-Chief-Economist/Research-Papers/Documents/, Office of the Chief Scientist, Department of Industry and Science, Australian Government.
Kelley, D., Singer, S., and Herrington, M. (2016). GEM 2015/16 Global Report, GEM Global Entrepreneurship Monitor, GEM Consortium www.gemconsortium.org, Babson College, Universidad del Desarrollo, Universiti Tun Abdul Razak, Tecnológico de Monterrey, International Council for Small Business (ICSB).
Stevenson, H., and Jarillo, J. (1990). "A Paradigm of Entrepreneurship: Entrepreneurial Management." Strategic Management Journal 11: 17-27.