In the developing world, successful small businesses are the primary engines of job creation, income growth, and poverty reduction. Most economists today agree that entrepreneurship is a necessary ingredient for stimulating economic growth and employment opportunities in all societies. The entrepreneur carries out new combinations, thereby helping render old industries obsolete.Įstablished ways of doing business are destroyed by the creation of new and better ways to do them.īusiness expert Peter Drucker (1909-2005) took this idea further, describing the entrepreneur as someone who actually searches for change, responds to it, and exploits change as an opportunity.Ī quick look at changes in communicationsfrom typewriters to personal computers to the Internetillustrates these ideas. Still other economists say that entrepreneurs develop new goods or processes that the market demands and are not currently being supplied. ![]() Others emphasize the entrepreneurs role as an innovator who markets his innovation. ![]() Entrepreneurship William Bygrave Andrew Zacharakis Files Professional Expertise May. ![]() Entrepreneurship William Bygrave Andrew Zacharakis Files Series Of One.
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