Economic Theories of Entrepreneurship

2016 ◽  
Author(s):  
Julie McFarlane
Keyword(s):  
Economic Development ◽  
Driving Force ◽  
Small Firms ◽  
Economic Trend ◽  
Political Stability ◽  
Turn Of The Century ◽  
Complex Field ◽  
Economic Theories ◽  
The United Kingdom

What is entrepreneurship? Since the turn of the century, there has been increased global interest in entrepreneurship both by individual theorists and by institutions. This is significant because over the last quarter of a century there has been a remarkable renaissance in terms of the recognition of small firms’ “centrality as a necessary competitive instrument in the development of a modern, vibrant and progressive economy” (Beaver and Prince, 2004, p. 34). The economics literature acknowledges the central role of entrepreneurs in economic development, the creation of wealth and evolutionary change. In the United Kingdom alone, over 5.2 million businesses are operating as of 2015; of those, 99% are SMEs, accounting for 14.5 million people in employed positions (Federation of Small Business, 2015). The literature suggests that it is entrepreneurs who are the driving force of such a revolution, in the form of an economic trend that is transforming and in some cases renewing economies worldwide, contributing not only to employment but also to economic, social and political stability. Therefore, it is vital to develop an understanding of the complex field of entrepreneurship by drawing on the early entrepreneurship literature, and by evaluating and understanding the wider contributions to the now-established distinctive economic theories of the entrepreneur.

Il pensiero di Kenneth Boulding, economista irenico. Relazioni sociali tra scambio, dono e coercizione

2009 ◽  
pp. 5-30
Author(s):  
Raul Caruso
Keyword(s):  
Social Capital ◽  
Economic Development ◽  
Social Interactions ◽  
Informal Institutions ◽  
Relational Goods ◽  
Economic Theories ◽  
Economic Development And Growth ◽  
Formal And Informal Institutions

- The aim of this essay is the ‘triangular theory of social interactions as expounded by Kenneth Boulding. Rediscovering the theoretical reflections of Kenneth Boulding about social interactions is even more important nowadays when economists are emphasizing the role of both formal and informal institutions in economic development and growth. In fact, he pioneered the study of elements which are commonly considered in the economic theories of institutions, social capital, reciprocity and relational goods.

Role and Contribution of Corporate Information Centers toward KM Initiatives: An Analysis of Managers' Perceptions

2004 ◽  
Vol 03 (01) ◽  
pp. 9-25 ◽  
Author(s):  
Laila Marouf
Keyword(s):  
Economic Development ◽  
Knowledge Management ◽  
Organizational Performance ◽  
Driving Force ◽  
Organization And Management ◽  
Library Development ◽  
Information Professionals ◽  
Innovative Capacity ◽  
Corporate Information

Knowledge, since the late 1990s, has been increasingly seen as a primary business asset, while knowledge management (KM) has been perceived to be the key differentiator between firms in terms of their sustainability, profitability, innovative capacity, and change management. The reason for this interest in knowledge management is the belief that knowledge and its applications are the means by which creativity can be fostered (Nonaka and Nishiguchi, 2000), innovation enabled (Hargadon, 1998), and competencies leveraged so as to improve overall organizational performance. Since knowledge has become the driving force for economic development, attention to the organization and management of information and knowledge has increased tremendously. The knowledge management discourse has also captured the attention of professionals working in the library and information sector. In recent years, a body of literature has emerged that explicitly addresses knowledge management from the perspective of library and information professionals (Broadbent, 1997; Nicholson, 1997; Loughridge, 1999). This literature carries a key assumption that library and information professionals have an important role to play in knowledge management. KM is also assumed to be an instrument in enhancing professional image and role of the information professionals. Yunhua (1999) makes a clear case for library development from the perspective of knowledge management.

scholarly journals Role of companies’ size in socio-economic development of regions in the Czech Republic

2019 ◽  
Vol 70 (6) ◽  
pp. 833-848
Author(s):  
Radka Redlichová ◽  
Gabriela Chmelíková ◽  
Ivana Blažková ◽  
Vojtěch Tamáš
Keyword(s):  
Economic Development ◽  
Czech Republic ◽  
Regional Development ◽  
Unemployment Rate ◽  
Small Firms ◽  
Size Structure ◽  
The Czech Republic ◽  
Socio Economic Development ◽  
The Relationship

The aim of this paper is to investigate socio-economic development drivers of NUTS 3 regions in the Czech Republic. The aim is fulfilled by examination of the relationship between one of the regional development factors – the companies’ size structure and the development of the region from both socio and economic views. We derive from the theory of diversification and prior empirical findings, and empirically test the role of companies’ size in regional development. We use a balanced dataset of 14 regions covering the years 2000 – 2016 that provides the information about regions’ socio-economic performance in terms of GDP and unemployment rate. We hypothesise that unemployment rate in the regions with higher share of small firms is less sensitive to the general trend of the whole economy. However, the higher share of small firms leads to improved regional GDP. Our findings confirm that small firms accelerate economic growth while playing a role of a social stabiliser in Czech regions. Our conclusions could help in designing the regional policy in the Czech Republic.

Profiling Small and Medium Enterprises' Innovativeness During Periods of Economic Crisis

2020 ◽  
pp. 125-148
Author(s):  
Ioannis Antoniadis ◽  
Elpida Tryfon Samara ◽  
Thomai Karamitsou
Keyword(s):  
Economic Development ◽  
Driving Force ◽  
Small And Medium Enterprises ◽  
Economic Recession ◽  
Survey Questionnaire ◽  
Community Innovation Survey ◽  
Marketing Process ◽  
Medium Enterprises ◽  
Greek Region

The role of innovation as a vital driving force of entrepreneurship and economic development has been widely acknowledged. Especially in an era of economic turbulence, innovation can be seen as the only realistic strategy that can lead enterprises out of the crisis. Based on the innovation taxonomies identified in the Oslo Manual, namely organizational, marketing, process, and product innovation, a survey was carried out in a Greek region adapting the fourth Community Innovation Survey questionnaire in 43 SMEs, capturing the effects of economic recession on the firms' innovativeness, and drawing a profile of the entrepreneurship innovation in the region of Western Macedonia, Greece. By applying a strategic group's approach, the authors come up with some interesting findings concerning the type of SME innovativeness and results of innovation during a period of financial crisis.

The State of Industrial Ill-Health in the United Kingdom

1980 ◽  
Vol 10 (1) ◽  
pp. 149-160 ◽  
Author(s):  
R. Charles Clutterbuck
Keyword(s):  
United Kingdom ◽  
Trade Unions ◽  
Health And Safety ◽  
The State ◽  
Turn Of The Century ◽  
The Past ◽  
The United Kingdom ◽  
Safety Committees ◽  
Area Health

Recent health and safety legislation in the United Kingdom comes at a time of economic crisis. The only way of understanding its impact is to look back at the roles of employers, the State, trade unions, workers, and the medical establishment over the past 150 years since the rise of industrial capital. In many ways, issues that were current at the turn of the century—such as the conflict between profits and health, whether to clean up the production process or insulate workers from its hazards, compensation, and employers' liability—are still very much present today, although these issues are often obscured by the notions that there is an identity of interest between management and workers over health and safety and that profits and safety go together. The role of the trade unions in dealing with existing and new hazards of production has historically been ambiguous, yet the need for them to develop an overall policy of prevention has always been obvious. Although they are now part of the governing apparatus, other arms of the State—in particular the civil service—initiate changes in health and safety organization, while trade unions make sure they are enacted. The development of trade-union area health and safety groups represents the most important potential change and may well provide the necessary focus for information and organization to cut through the “concerned” propaganda from management and its safety committees and start the long-awaited cleanup of industry.

scholarly journals THE NATURAL ENVIRONMENT’S POTENTIAL AS A DRIVING FORCE BEHIND THE SOCIO-ECONOMIC DEVELOPMENT OF RURAL AREAS

2018 ◽  
Author(s):  
Małgorzata DUDZIŃSKA ◽  
Barbara PRUS ◽  
Stanisław BACIOR
Keyword(s):  
Economic Development ◽  
Rural Areas ◽  
Driving Force ◽  
Raw Materials ◽  
Economic Determinants ◽  
Human Needs ◽  
Socio Economic Development ◽  
Literature Highlight ◽  
And Performance

All definitions of the natural environment’s potential provided by the literature highlight the role of humans as entities making use of environmental resources. The natural environment creates conditions for life processes to occur by supplying raw materials and energy required to satisfy various human needs. It provides a basis and a precondition for socio-economic development. It is, however, difficult to define the natural environment’s potential in its entirety, therefore the study focused on the resource-and-performance aspect of this potential. Hence, the article aims at identifying the relationships between the level of the natural environment’s potential and the level of socio-economic development of communes. The study involved communes located in Warmińsko-Mazurskie Voivodeship. The study was carried out in several stages and involved an analysis of the level of the natural environment’s potential as well as of the meta-indicator that shows the socio-economic determinants of communes in a synthetic manner. The analysis of the relationships between the level of the natural environment’s potential and the socio-economic development was performed using the Pearson product-moment correlation coefficient.

scholarly journals Impact of China-Pakistan Economic Corridor (CPEC) on Human Security and the Role of Gilgit-Baltistan (GB)

2018 ◽  
Vol III (IV) ◽  
pp. 17-30
Author(s):  
Saadia Beg ◽  
Tasawar Baig ◽  
Asif Khan
Keyword(s):  
Economic Development ◽  
Regional Integration ◽  
Human Security ◽  
Political Stability ◽  
Development Project ◽  
Economic Interdependence ◽  
Political Conflicts ◽  
History Of ◽  
Gilgit Baltistan

Recent history of international relations suggests that economic interdependence largely contributes to the mitigation of the major political conflicts in the world. CPEC, a flagship mega development project of Belt and Road Initiative (BRI), has not only initiated massive development projects in Pakistan, which will eventually help in socio-economic development of Pakistan but it will also ensure regional integration. Development of Pakistan through CPEC is desirably focused on a people centric growth model that primarily seeks to resolve the issues of human security. This paper seeks to establish the relationship between economic interdependence and regional integration with human security. Furthermore, this study looks into the role of Gilgit-Baltistan, a geographical lynchpin region, in making CPEC a successful developmental project. Findings of the study suggest that the viability and success of this mega project is highly dependent on the inclusiveness of projects in terms of engaging all stakeholders. The fruits of this mega project are expected to be positive. This is only possible if all the different dimensions of national security, i.e. social cohesion, economic development, and political stability are ensured by the state.

scholarly journals Internationalisation and localisation: Foreign venture capital investments in the United Kingdom

2020 ◽  
Vol 35 (3) ◽  
pp. 230-256 ◽  
Author(s):  
Richard T Harrison ◽  
Babangida Yohanna ◽  
Yannis Pierrakis
Keyword(s):  
Economic Development ◽  
Venture Capital ◽  
Capital Investment ◽  
Turn Of The Century ◽  
Capital Investments ◽  
Venture Capital Investment ◽  
The United Kingdom ◽  
The Uk ◽  
Economic Regions ◽  
Venture Capital Investments

Venture capital plays a significant role in economic development through the emergence of new firms, technologies, industries and markets. This role, however, is associated with systemic uneven development regionally as both the supply of venture capital and the investment in new and growing ventures is highly concentrated regionally in the core economic regions of a country. Over the past decade, this intra-national regional concentration has been accompanied by an increasing internationalisation of the venture capital industry, as cross-border investment becomes more significant. In this paper, we explore the implications of this internationalisation for regional economic development in the UK. We conclude that the geography of venture capital in the UK has been shaped since the turn of the century by a significant increase in venture capital investments made by foreign funds, mainly in the form of co-investments with local funds. These foreign venture capital investments are primarily concentrated in London, Southeast England and East of England, which collectively attracted 82.5% of all foreign venture capital investments made to UK companies in 2017, strongly reinforcing the existing spatial concentration of venture capital investment. The paper concludes by questioning whether this increased dependency of these regions on foreign venture capital matters to regional development and draws out some of the implications for public policy.

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