Entrepreneurship

Entrepreneurship is one of the youngest disciplines within the domains of business administration. One of the most influential definitions of entrepreneurship was proposed by Shane and Venkataraman in 2000: “the scholarly examination of how, by whom, and with what effects opportunities to create future goods and services are discovered, evaluated, and exploited” (p. 218). Other scholars define entrepreneurship differently, for example, as the “study of firm formation.” Disagreements like this are often characteristic of fields of inquiry whose paradigm is at a relatively immature stage of development. Like the field of strategic management, entrepreneurship focuses on value creation and capture, but it does so from a perspective of innovation—for example, through [Page 1151]the creation of new means-ends relationships and the recombination of resources.

Obviously, entrepreneurship affects ...