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Wednesday, July 27, 2011

International Definition of Entrepreneurship (Various)

"Every generation needs a revolution an ENTREPRENEURIAL REVOLUTION."

In a conference held very recently in Hong Kong in entrepreneurship, there was no agreement on what it really is. Many consider entrepreneurship as merely starting a new business.

In the Philippines, Dr Ed Morato, the guru for entrepreneurship, defines entrepreneur as someboy who introduces innovative new products and services to the market place.

Prof. Lee Beng of the University of Hawaii, HiBeam and GEM, quoting Timmons, says entrepreneurs are " who create something from nothing.' "  Entrepreneurship is about doing something, executing, rather than talking analyzing and watching.

Joseph Schumpeter - " destroying old order and creating new ones."  Creative destruction in other words.

George Gilder - " making the world forever new."

Peter Drucker -  somebody who " upsets and disorganizes." Entrepreneurs innovate.  (Innovation is creating new value from existing resources)

William Baumol, a leading economist -" bold and imaginative deviator from established business patterns and ;practices"( a renegade?)

Howard Stevenson, the champion of Entrepreneurship at Harvard Business School - "pursuit of opportunity beyond the resources you currently control."

Which definition suits you.\?

When will profjorge come up with his own definition? Or be the champion of entrepreneurship at AGSB?

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