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    Theories of Entrepreneurship

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    muntaquir
    The document discusses three theories of entrepreneurship: 1. Mark Casson's economic theory which sees demand for entrepreneurship stemming from a need for change and identifies four main qualities essential for entrepreneurs. 2. Leibenstein's X-efficiency theory which argues entrepreneurs increase efficiency by making available new inputs and filling gaps in the market. 3. Schumpeter's dynamic entrepreneurship innovation theory which views entrepreneurs as catalysts for economic development through innovation such as new products, processes, markets, materials, or organizations.

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    Theories of Entrepreneurship

    Uploaded by

    muntaquir
    81 views9 pages
    The document discusses three theories of entrepreneurship: 1. Mark Casson's economic theory which sees demand for entrepreneurship stemming from a need for change and identifies four main qualities essential for entrepreneurs. 2. Leibenstein's X-efficiency theory which argues entrepreneurs increase efficiency by making available new inputs and filling gaps in the market. 3. Schumpeter's dynamic entrepreneurship innovation theory which views entrepreneurs as catalysts for economic development through innovation such as new products, processes, markets, materials, or organizations.

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    Theories of Entrepreneurship

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    The document discusses three theories of entrepreneurship: 1. Mark Casson's economic theory which sees demand for entrepreneurship stemming from a need for change and identifies four main qualities essential for entrepreneurs. 2. Leibenstein's X-efficiency theory which argues entrepreneurs increase efficiency by making available new inputs and filling gaps in the market. 3. Schumpeter's dynamic entrepreneurship innovation theory which views entrepreneurs as catalysts for economic development through innovation such as new products, processes, markets, materials, or organizations.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    81 views9 pages

    Theories of Entrepreneurship

    Uploaded by

    muntaquir
    The document discusses three theories of entrepreneurship: 1. Mark Casson's economic theory which sees demand for entrepreneurship stemming from a need for change and identifies four main qualities essential for entrepreneurs. 2. Leibenstein's X-efficiency theory which argues entrepreneurs increase efficiency by making available new inputs and filling gaps in the market. 3. Schumpeter's dynamic entrepreneurship innovation theory which views entrepreneurs as catalysts for economic development through innovation such as new products, processes, markets, materials, or organizations.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 9

    Theories of Entrepreneurship

    Lecture 8

    An Economic Theory
    Mark Casson-The Entrepreneur-An Economic Theory Emphasized demand for entrepreneurship stems for need for change. The supply of entrepreneurship is limited due to 1) scarcity due to requisite qualities and 2) difficulty of identifying them when they are available. He suggested that there are four main qualities essential for entrepreneurs Imagination is almost entirely innate and the rest of the qualities can be enhanced

    Leibensteins X- Efficiency Theory


    Basically X efficiency theory is the degree of inefficiency in the use of resources in the firm. It measures the extent to which the firm fails to raise its productivity potential. X efficiency arises because either the firms resources are used in the wrong way or because they are wasted i.e. not used at

    all.

    Leibensteins X- Efficiency Theory


    Leibenstein identifies two roles for the entrepreneur. The first role is input completion.

    This involves making available inputs that increase the efficiency of existing methods or facilitate the introduction of new ones. The role entrepreneur is to increase the flow of information in the market

    Leibensteins X- Efficiency Theory


    The second role, Gap filling,

    Dynamic Entrepreneurship Innovation Theory Advocated by Schumpeter in 1949. Considered entrepreneurship at a catalyst that disrupts the stationery circular flow of the economy and thereby initiates and sustains the process of development. According to him the new combination production as innovation. of factors of

    Through innovation the entrepreneur activates the economy to a new level of development.

    Dynamic Entrepreneurship Innovation Theory


    According to him the concept of innovates comprises of five functions: Introduction of a new good Introduction of a new method of production Opening of a new market Conquest of a new source of supply of raw material Carrying out a new organization of any industry

    Dynamic Entrepreneurship Innovation Theory


    According to him concept of innovation includes risk taking, supervision and co-ordination. According to him these attributes unaccompanied by the ability to innovate would not be sufficient to account for entrepreneurship.

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