大家好 我是Let’s Understand Business的Anupam
Hi, I’m Anupam, Let’s Understand Business.
In the presentation, I’ll show you between lines on some of the theories of entrepreneurship.
then let’s first understand what do we mean by entrepreneurship.
Entrepreneurship is defined as the act of being an entrepreneur.
That is, an entrepreneur,
进行创新 融资 有商业头脑的人
is one who undertakes innovations, finance, and business acumen,
in an effort to transform innovations into economic goods.
Then, when we come to the theories of entrepreneurship,
Here, we shall be discussing about The Economic Theory, the Sociological Theory,
the Entrepreneurship Innovation Theory, the Psychological Theory,
And, the Theory of Achievement Motivation, or Achivement Theory.
Then, we shall be discussing about the Kakinada Experiment.
Economic Theory of Entrepreneurship proposes that
经济形势向好时 创业增加 经济增长
Entrepreneurship and economic growth take place when economic conditions are favourable.
That is, economic incentives are the main motivators.
Enconomic incentives, then they include,
the Taxation Policy, Industrial Policy,
Sources of Finance&Raw Material
Infrastructure Availabilty, Investment &Marketing Opportunities,
以及信息获取 比如市场情况 技术等
And Access to Information, like the market conditions, the technology, etc.
The Economic theory was established by Richard Cantillon,
who viewed entrepreneurs as an agent,
who buys factors of production at certain prices,
in order to combine them into a product,
with a view to selling it at an uncertain price in future.
That is, he illustrated farmer as an entrepreneur,
who pays out contractual incomes to the landlords and laborers, which are certain
while he sells his crops at a price, which is uncertain
Thus, he views entrepreneur as a risk taker.
The sociological theory of entrepreneurship proposes that
entrepreneurship is likely to get a boost in a particular social culture
The entrepreneurial behavior of individuals in a society is influenced by
如社会价值观 宗教信仰 习俗 禁忌等
the society’s values, the religious beliefs, the customs, the taboos, etc.
The entrepreneur merely performs a role as for the expectations of the society.
As for Jean Baptiste Say,
entrepreneur is one who combines the land of one
the labour of another and the capital of yet another to produce a product.
By selling the product in the market, he pays interest on the capital,
rent on the land and wages to the laborers
and what remains is his profit.
This was for the first time that a distinction was made
between the capitalist as the financer and the entrepreneur as the organiser.
Thus, this theory is entrepreneur as an organiser
The Entrepreneurship Innovation Theory was propounded by Joseph Schumpeter.
As for this theory, entrepreneurship is innovation.
This theory ignores the earlier two abilities,
which were till then considered key for an entrepreneur.
The organizing abilities as for the sociological theory
and the risk taking abilities as for the economic theory.
According to Joseph Schumpeter, an entrepreneur is a person
who is willing and able to convert a new idea or invention
into a successful innovation.
Entrepreneurship resulted in new industries,
even though it entailed combining the existing inputs in a new way.
Schumpeter’s example of innovation was
the combination of a steam engine with a wagon-cart,
to produce the horseless carriage.
In this case the innovation, the car, was transformational.
But it did not require the development of a new technology.
Merely the application of existing technologies
in a normal manner was sufficient.
Before we move on, let’s understand innovation with respect to entrepreneurship.
An entrepreneur innovates when he introduces a new product.
For example, Virgin Galactic is a company which has sold out tickets to the public
for the future is odyssey.
Secondly, an entrepreneur innovates, then he introduces a new production method.
For example, McDonalds was the first company who started line production system in food.
Thirdly, an entrepreneur innovates, then he opens up a new market.
For example, the Blue Ocean Strategy professors
that organization should seek out markets which are less competitive.
Next, an entrepreneur innovates,
then he finds out a new source of raw material supply.
For example, moving from conditional coal to unconditional energy sources.
And lastly, an entrepreneur innovates,
then he introduces a new organization in the industry.
The Psychological Theory suggests that
Entrepreneurship gets a boost when society has sufficient supply of individuals
with necessary psychological characteristics.
These psychological characteristics include:
第一 渴求建功立业 有眼界或前瞻力
Need for achievement, A vision or foresight
Ability to face opposition, etc.
These characteristics are formed during the individual’s upbringing.
For example, an individual who would have his polite dines during the childhood
is more likely to develop an entrepreneurship.
Secondly, by high standards of excellence
to self reliance and low father dominance.
Then an individual is not habituated of being guided by his elders’ decision
He is more likely to the garner the entrepreneurship.
Lastly, we come to Theory of Achievement Motivation.
David McClelland in his famous theory of motivation identified
the three basic characteristics among people.
渴求建功立业 渴望社会认同 渴望权力
Need for achievement, need for affiliation, and need for power.
As the basis of entrepreneurial personalities, he emphasized
the importance of achievement motivation
through which, entrepreneur fulfills economic and social development.
The need for achievement was found highest among entrepreneurs through an experiment.
The Kakinada Experiment, as it is known in India,
was conducted by David McClelland
在美国纽约 墨西哥市 墨西哥和
in New York city, America, Mexico city, Mexico
and Kakinada, India simultaneously.
In the experiment, young adults were selected
and put through a three-month training to induce achievement motivation.
In the course content, trainees were asked to control their thinking
and talk about themselves positively.
Trainees imagined themselves in need of challenges and success
for which they were made to set planned achievable goals.
They tried to imitate their role models.
The achievement motivation had a positive impact
on the performance of the participants.
After the computational experiment, it was deduced
that traditional beliefs do not inhibit an entrepreneur.
On the basis of the experiment, McClelland identified
two characteristics of entrepreneurship.
Doing things in a new and better way
and decision making under uncertainty.
He stressed that people with high achievement orientation
or need to succeed are more likely to become entrepreneurs.
People are not influenced by money or external incentives.
Also, profits are only a measure of success and competency,
and not a motivator for entrepreneurship.
Now, let us sum up the various theories of entrepreneurship as we just discussed.
The Economic Theory. As for this theory, entrepreneur is seemed as a risk taker.
The Sociological Theory: an entrepreneur is an organizer.
The Entrepreneur Innovation Theory sees an entrepreneur as an innovator.
Follow by, the Psychological Theory, which is
entrepreneurs are formed during their upbringing.
And finally, we had the Achievement Motivation Theory,
which said that entrepreneurship can be developed
and traditional beliefs do not inhibit entrepreneurs.
For more on this topic, you may go to any of these books
to which I have all talked before.
For further details and comments, please contact me.
My email ID is firstname.lastname@example.org,
that is, email@example.com
大家好 我是Let’s Understand Business的Anupam