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The Meaning of Entrepreneurship

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  • Wayne Long

Abstract

This paper reviews various definitions of entrepreneurship employed by a number of theoretical economists since Richard Cantillon (circa 1730). Three recurring themes emerge from their definitions, namely that “entrepreneurship†involves: 1) uncertainty and risk, 2) complementary managerial competence, and 3) creative opportunism. The authors argue that modern definitions of entrepreneurship that exclude any of these three fundamental dimensions are basically incomplete.

Suggested Citation

  • Wayne Long, 1983. "The Meaning of Entrepreneurship," Entrepreneurship Theory and Practice, , vol. 8(2), pages 47-59, October.
    • Handle: RePEc:sae:entthe:v:8:y:1983:i:2:p:47-59
    DOI: 10.1177/104225878300800209
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    Cited by:

    1. Federica Morandi & Eugenio Di Brino & Teresa Petrangolini & Lina Delle Monache & Alessandra Pernice & Americo Cicchetti, 2021. "Il ruolo delle competenze dei rappresentanti dei cittadini: evidenze dalle associazioni italiane dedite all?advocacy," MECOSAN, FrancoAngeli Editore, vol. 0(118), pages 55-70.
    2. A. B. Ibrahim & J. R. Goodwin, 1986. "Perceived Causes of Success in Small Business," Entrepreneurship Theory and Practice, , vol. 11(2), pages 41-50, October.
    3. Alison Taysum & Daniela Canfarotta & Mihaela-Viorica RuÅŸitoru, 2021. "Applying ABCDE and Assessment for Personal and Social Learning to Studying the Classics to Equip Students with the European Qualification Framework Competences Incrementally for Recovery from Covid 19," European Journal of Social Sciences Education and Research Articles, Revistia Research and Publishing, vol. 8, ejser_v8_.
    4. Barbara W. Keats & Jeffrey S. Bracker, 1988. "Toward a Theory of Small Firm Performance: A Conceptual Model," Entrepreneurship Theory and Practice, , vol. 12(4), pages 41-58, April.
    5. Morris, Michael H. & Sexton, Donald L., 1996. "The concept of entrepreneurial intensity: Implications for company performance," Journal of Business Research, Elsevier, vol. 36(1), pages 5-13, May.
    6. Utz Weitzel & Diemo Urbig & Sameeksha Desai & Mark Sanders & Zoltán J. Ács, 2015. "The good, the bad, and the talented: Entrepreneurial talent and selfish behavior," Chapters, in: Global Entrepreneurship, Institutions and Incentives, chapter 2, pages 24-41, Edward Elgar Publishing.
    7. Pramodita Sharma & James J. Chrisman, 1999. "Toward a Reconciliation of the Definitional Issues in the Field of Corporate Entrepreneurship," Entrepreneurship Theory and Practice, , vol. 23(3), pages 11-28, April.
    8. Philip D. Olson, 1985. "Entrepreneurship: Process and Abilities," Entrepreneurship Theory and Practice, , vol. 10(1), pages 25-31, July.
    9. Arash Ketabforoush Badri & Mohhamadreza Nahidi & Mehrdad Ghalami, 2018. "The Effects of Entrepreneurship and Education on Economic Growth in Selected Countries," Noble International Journal of Social Sciences Research, Noble Academic Publsiher, vol. 3(7), pages 46-54, July.
    10. Preminger, Ambrose, 2021. "Sustainable Development: A Connection between Technology, Economy, and Society," MPRA Paper 116385, University Library of Munich, Germany.
    11. Karina Cagarman & Jan Kratzer & Katharina Osbelt, 2020. "Social Entrepreneurship: Dissection of a Phenomenon through a German Lens," Sustainability, MDPI, vol. 12(18), pages 1-18, September.
    12. Lenka Vyrostková & Jaroslava Kádárová, 2023. "Entrepreneurship Dynamics: Assessing the Role of Macroeconomic Variables on New Business Density in Euro Area," IJFS, MDPI, vol. 11(4), pages 1-15, December.
    13. Chen, Chao C. & Greene, Patricia Gene & Crick, Ann, 1998. "Does entrepreneurial self-efficacy distinguish entrepreneurs from managers?," Journal of Business Venturing, Elsevier, vol. 13(4), pages 295-316, July.
    14. Mak, Athena H.N. & Wong, Kevin K.F. & Chang, Richard C.Y., 2011. "Critical issues affecting the service quality and professionalism of the tour guides in Hong Kong and Macau," Tourism Management, Elsevier, vol. 32(6), pages 1442-1452.
    15. StewartJr., Wayne H. & Watson, Warren E. & Carland, Joann C. & Carland, James W., 1999. "A proclivity for entrepreneurship: A comparison of entrepreneurs, small business owners, and corporate managers," Journal of Business Venturing, Elsevier, vol. 14(2), pages 189-214, March.

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