Entrepreneurship: The Way Ahead

By Harold P. Welsch | Go to book overview

thinking as well as the actual creation of a new venture. Following this functional approach, entrepreneurship can be viewed from a marketing, financing, or growth perspective. These chapters are constructed by some of the leading thinkers in their respective fields.

Despite the bursting of the technology bubble, this specialty continues to draw attention because it permeates entrepreneurship in a persistent manner. Do technology entrepreneurs do it differently? How is e-commerce and mobile commerce impacting the field? What are the emerging practices, key challenges, and future directions of this rapidly-paced industry? These are questions addressed by contemporary scholars such as Stoica, Kickul, and Gundry.

The evolution of entrepreneurship has also incorporated the not-for-profit sector of social entrepreneurship. Barbara Kuhns has recognized that entrepreneurial principles can also be effectively applied in community-based enterprises and assist in economic development of a region. Fairchild and Greene similarly suggest that wealth can be created in the inner-city through entrepreneurial endeavors.

Entrepreneurship can be sliced and analyzed in a myriad of ways - by gender (Gundry and Ben-Yoseph), by frequency (Taplin), or by ethnicity (Fregetto). Women entrepreneurs are one of the fastest growing segments of society as they become recognized as an equal partner or competitor in the economic system. The phenomenon of serial entrepreneurship has continued to intrigue scholars around the globe. What is it that drives individuals to commit to entrepreneurial endeavors over and over again? Is there a virus that infects these individuals? Is it the excitement of starting up that motivates repeat entrepreneurs? Are they fearful of daily management duties that drive them away from later-stage commitments?

Are immigrants more likely to become entrepreneurs because they are frozen out of the domestic/mainstream job market or do they simply value their freedom more than the corporate ladder climbers? Fregetto examines various ethnic groups in the U.S. and explains the displaced ethnic entrepreneur's role in the economy.

In the last section, we look forward to see what entrepreneurship education has in store for academia. Sandercock provides a review of the innovative, toptier entrepreneurship programs and "puts a face" on the theory of entrepreneurship by introducing specific initiatives of higher education programs that characterize this evolving discipline.

Finally, Hills provides a provocative perspective on the new layers of entrepreneurship that have never been revealed. This blossoming flower of the field is made possible by the generation of new knowledge combined with conceptual and theoretical development represented by various schools of the thought within the context of market segmentation concepts.

All these perspectives, when combined into a total package, provide a guiding light to the road ahead in entrepreneurship.

-xv-

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