Over 200 years of the study of entrepreneurship have provided many definitions of the word “entrepreneur.”
Indeed, the search for a best definition may have impeded the development of theory. The Schumpeter economic outcome-based concept that an entrepreneur creates value by carrying out new combinations causing discontinuity is embodied in many of the definitions offered within the last 50 years.
What is a Theory?
According to Oxford Dictionary “it is supposition or system of ideas explaining something, especially one based on general principles.”
For one to become a successful businessman there is need for that person to know all about the theories of entrepreneurship. However, entrepreneurship (though famous) is not a fully known field to many people.
There are quite a lot of theories on Entrepreneurship; we will look at some of those in the coming weeks.
I have listed most of them below, which I will be covering on this blog
- Schumpeter’s Theory
- Economic Theory of Entrepreneurship
- Leibenstein’s X-efficiency theory
- Dynamic entrepreneurship Theory
- Harvard School Theory
- Theory of Achievement (N-Ach)
- Theory of Profit
- Theory of Change
- Theory of Adjustment of Price
- Theory of Market Equilibrium
- Theory of Entrepreneurial Supply
- Theory of Personal Resourcefulness
- Theory of Cultural Values