Entrepreneurial Behavior and Perspective - 1553 Words

Name: Junie D. Bonifacio Date: December 1, 2012 Topic Title: Entrepreneurial Behavior and Perspective Material Title: Defining and Measuring Entrepreneurship Summary The reading focuses on the definition of entrepreneurship in different contexts and on measuring the level of entrepreneurial activity. Entrepreneurship has been defined differently through neo-classical and economic literatures. Theoretical definitions of entrepreneurship reflect a diverse set of ideas about the role of entrepreneurship in the economy, involving aspects such as innovation, uncertainty-bearing, opportunity-seeking, and management. Entrepreneurship is often used without a precise definition and it may not always be completely clear what the†¦show more content†¦The entrepreneur can be viewed as an owner of a technology producing endeavor that can disrupt current and existing processes in the industry. A new product or technology that has been produced through market study, research and development, product development, and product launch can be an output of an entrepreneur’s venture into an opportunity as a beginning. In the current Philippine setting , I believe the market is saturated mostly by entrepreneurs that are mixture of both Knight’s and Schumpeter’s. An example of a area of entrepreneurship nowadays would be the firms in the Knowledge Process Outsourcing industry and the Business Process Outsourcing Industry. Firms today exercise both concept on a case-to-case basis, depending on the contract with the client and the business that is being undertaken. Deutsche Bank, my current firm would most likely be categorized on both on the Knights and Schumpeter’s, as it executes investment deals and trades across different clients, and on the basis of who is bearing the risk and uncertainty, we could define the bank does create a value proposition for each client differently by applying different approaches. Today, with the very diverse market where we see complexity with overlapping of industries in terms of competition, there would be difficulty applying the general concepts of measuring entrepreneurial activity. A researcher could probably therefore focus on a key area of the specialized measures to give meaningfulShow MoreRelatedEntrepreneurial process paper1422 Words   |  6 Pagesotherwise referred to as the entrepreneurial process. 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