impact of entrepreneurship on economic growth

SON.the Impact of Entrepreneurship on Economic Growth

The impact of entrepreneurship on economic growth

This article talks about how entrepreneurs affect economic growth and the economy as a whole. It states that many literature argue that there is no definite answer or a framework that portrays how entrepreneurs affect the economy, however there are some variables that could be considered.

These variables are:

·      Innovation

·      Competition

·      The entry and exits of firms in an industry

·      Conditions (personal traits, institutional and cultural elements)

The author also argues that entrepreneurs, due to their new opportunity seeking and their willingness to enter a market while they are uncertain of what the outcome will be, introduces new ideas in existing markets. Furthermore, relating to Kirzner, entrepreneurs could also be viewed as innovators, as they introduce new ideas and concepts to the market, which helps the markets to improve, as well as, might help the economy. For example Bill gates, Microsoft is a huge success and helps the economy, as well as, made it possible for other computer engineers to come up with other programmes that are used worldwide, such as SPSS for statistics. Another example would be Google; the creation of search engines helped the online selling, as well as, connected the customers to the sellers.

He states 5 strands of empirical evidence to show entrepreneurs contribution to economic growth:

1.     The turbulence effect of entrepreneurship

2.     The effect of and changes in size distributions in regions

3.     The number of market participants in an industry

4.     The effect of business owners and self-employment

5.     The economic history of previously centralized and planned economies

He also argues that entrepreneurs are key to innovativeness and product improvement. Furthermore, they help the community by offering jobs, as well as, in some cases they donate to charities.

Resource-Based View and Entrepreneurship in The Economy

Hi All
Here is the basis of the role of the resource-based view which I explored with you in my lecture this week- the theme being entrepreneurship in the economy . Please read the paper quoted in this one by Kathleen Conner to understand the positive perspective of the reason for the existence of firms and in particular entrepreneurial ones
RBV and Entrepreneurship

Some further thoughts on the notion of Effectuation and Predicatability

Contribution of Migrant Entrepreneurs in The UK Economy

Hi All, here another take on the role of entrepreneurship the economy. In this instance, the role of migrant communities as entrepreneurial contributors to the host economy (UK)

Dyadic Activity Evaluation Form

Dear All
Week 4 has arrived.
You are now read to starts providing evidence by way of Peer Evaluations of Weekly Dyad's Performance Activity. 
 Dyads are putting effort into their work and providing you with opportunities to secure marks as a feed-forward evaluator. 
Remember that each week you have to evaluate at least one of your peer's performance activity as part of your assessment in this module. We are a third of the way through the semester. With this in mind, I have created an on-line form which you should access and use in each week during the class and after your matched peer (NOT your Dyadic peer) has performed.
Please complete and submit at least one per week for the remainder of the semester. Please make sure you complete the form properly so that peers can engage in continuous learning improvement at EBS
http://goo.gl/forms/9uUT21fGB8
Many thanks
Ed

Target Start-Ups for Assessment & Analysis

Hi All

Now that you have got into the groove regarding reading theory and attempting to understand the role of praxis in enlightening or interpreting theory & practice as duality not dualism, you need to find a start-up company to analyse using at least 5 theoretical frames. i.e. Use your reading of the word to demonstrate its relationship with your reading of the world

The 5 theoretical frameworks should be chosen from those that you are sharing here on our community blog and/or from the 2 weekly readings that each dyad interprets as a performance/activity. 

On Tuesday most teams had a high overlap between the theoretical arguments you chose to interpret as a dyad activity. That makes it difficult to create a diverse set of theoretical dimensions from which to chose for your assessments, so it might be a good idea to reduce this inter-dyad overlap?!

You might also want to share start-ups that you won't be using but others night be interested in analysing based on their personal interests. For example, Natalia and Irina's post re women in entrepreneurship may suggest that they would be curious to analyse women founders and their start-ups. Can you help point them in that direction if that is the case.

Start elaborating & sharing here your world reading needs as a function of your personal curiosities (and word reading needs)

All the best 

Ed

Below is a paper that gives you another sense of the debates in the field. Work out how to embed objects rather than merely paste hyperlinks...it improves your audiences engagement metrics with your blog posts- a measure of your participation and community contribution

Duality v Dualism : Entrepreneurship as the Structuration of Individual and Opportunity

'PERFORMANCE AND DECISION MAKING' by Sven Kleinknecht, Stavroula Laspita et al.

Some results that consider the difference in loner-founded and team-founded start-ups along the dimension of team, decision-making type rather than mere trait composition (which tends to be the focus of investor appraisals of start-up teams). Resonate with one our Dyad's class conundrums?

'PERFORMANCE AND DECISION MAKING' by Sven Kleinknecht, Stavroula Laspita et al.

Entrepreneurs: The Dark Knights? Hypomania, Bipolarity, Depression, Type A's & Suicide

Too frequently the cultural narrative of the entrepreneur is one of emancipated hero or heroine, almost transcendental in his/her splendour of success and defeating of the odds.

Yet the suicide of Ilya Zhitomirskiy, the 22-year-old co-founder of Diaspora, a social networking site and of well-known founder Jody Sherman, 47, of the e-commerce site Ecomom raises the spectre of the other narrative:


entrepreneurship “…is a perilous privilege, which the gods watch jealously waiting for the fatal flaw…”....

MORE

A brief description of the "Lego Serious Play"

                     

Hi mates ,
Have a look at this short video about the Lego Serious Play.
We have mentioned this way of learning , training and team building during our seminar last week , regarding the connectivism . Throughout the video , we'll find many of the key principles discussed in class such as the active state of mind , the student focus and even the group learning.
It's a very useful view !
See you all next week

Thoughts on Connectivism in the Workplace

So the connectivist team structure seems to be where entrepreneurial teams are headed – and even intrapreneurial teams within organizations too. It does sound great in theory – building a wider network of knowledge that doesn’t just exist within the main group, decision making is distributed and there’s possibility for many CEOs. But this makes me think, maybe there might be “too many cooks in the kitchen.” Anyone else?

I’ll relate it to the company I worked at before beginning this program – an online school that has been around for over 20 years but still maintained a startup mentality: young, gutsy and even eco-friendly. There was a relatively flat management structure – not a lot of hierarchy but a ton of managers at or around the same level. At times it felt like chaos – who is in control here? No one to rein in the good ideas, re-focus the not so good ones and direct the organization.

So I can’t help but think an entrepreneurial team might have the same issues – especially if the team is large with lots of type-A personalities. Or maybe the chaos is just a byproduct of the theory and meant to challenge the group!

Entrepreneurial Teams: Some Food for Thought 

Entrepreneurship In Perspective

Dear All
Papers like these throw light on the field of entrepreneurship theorising and put in perspective what exactly we are developing a critique around. Enjoy, reflect, comment and add your discovered resources for us all to learn in congregate.
Speak soon.

Defining Entrepreneurship- Competing Perspectives

Economic Risk and the Entrepreneur. A tale of 2 papers and a quiz.

Hi everyone! Please check out these 2 papers that have a focus on Risk and the Entrepreneur's way of handling it.

Pro tip: Don't worry much about the little math there is in the text, focus on the main ideas.

Also, there's a short quiz that you might wanna check to cement the ideas!

Why Are Entrepreneurs More Risk Loving

Frank Knight on Risk, Uncertainty and the Firm

Prospect Theory & Entrepreneurship Quiz

Interview with Richard Branson

Hi all,

To continue our talk about “who is an entrepreneur” and the Richard Branson example, I dug up a video from a few years ago with a New York-based entrepreneur I follow, Marie Forleo, along with 2 other entrepreneurs, interviewing Branson. It’s quite a lengthy one but he shares some interesting nuggets of wisdom.

A few points I took note of and my take on them:

3:30 – 7:30:

• The key to starting a first business is being a great people person. Surround yourself with people who are excited about what you’re up to. Be inspiring, a great leader of people
• Be a great delegator, look for people who are better than you, who can support you and the business
• Entrepreneurs do not have to be managers. Create ideas and then know how to hand things over to a great manager (Steve Jobs example)

I agree with his points but what happens when you’re first starting out? When you might not have a tribe of followers, anyone to delegate to and you have many hats to wear – including one of manager? Any thoughts on this?

22:20 – 29:40

• Richard Branson was an awful public speaker at one point?! You can train yourself out of your difficulties
• A good leader has to be a great listener
• If considering social entrepreneurship, consider it as a second phase of business. The first being survival phase, getting over the hump and then begin to tackle of the problems of the world

What are your difficulties/areas of improvement? Public speaking, budgeting, finding a work/life balance, etc?

Principles of Effectuation Cycle

Principles of Effectuation Cycle

I’ve attached a document that will help narrow down the five main principles of Saras’s Sarasvathy Effectuation theory. In brief, the five principles are:

·      Bird in hand: start with the means, meaning that instead of setting goals first, entrepreneurs see where they stand on who they are, what they know and whom they know first.

·      Affordable loss: This principle focuses on what an entrepreneur can cope with losing at each step without it being all or nothing risk. 

·      Lemonade:  instead of making contingency plans to avoid surprises, entrepreneurs usually think that surprises could help them with information and clues on new market, that could change their means and set new goals.

·      Patchwork quit:  This relates to selecting stakeholders and forming partnerships. If there are pre-commitments with interested participants of the particular new market, it helps reduce the uncertainty. Furthermore, it adds to means such as resources, as well as, it crystalizes the goals.

·      Pilot in the plane: the belief that the future is made not predicted, due to doing activities that are within their control that will achieve the desired outcomes.

effectuation-3-pager.pdf by Youssef

Here's a Quiz for the classmates :"Teams : are they effective or not ?"

Have a look at these articles !

Why Teams Don't Work

Entrepreneurial Team Formation - Any Rationality

Teams Quiz

A Cool Event

Hey Mauro, you were asking about events etc., in London. 
Here's one shared by a student from last year on the EMG490 Entrepreneurship Theory & Practice Facebook Group (suggest you all sign-up to this group)

http://www.londonenterprisefestival.com/

Alessio Minnella - Praxis and Theory : against or linked each other ?

https://www.dropbox.com/s/1xcdqjaigodwy7i/Praxis%20and%20Theory.pptx?dl=0

Praxis and Theory Activity

Full PPT presentation here: http://bit.ly/1HG4e8q