Download or read book Value of Failure written by Leszek Gracz and published by Anthem Press. This book was released on 2017-11-28 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is a clear economic and social rationale in providing a second chance to failed entrepreneurs and deriving positive experiences from negative situations. Value of Failure is a comprehensive attempt at understanding the various aspects of the phenomenon of business failure. The book covers various aspects of second-chance entrepreneurs (and economic failure in general) and opportunities for changing general perception toward the phenomenon. It enables readers to understand business failure from the perspective of institutional theory; economic failure in the process of small business growth in the context of the shadow economy; Schumpeter’s theory of ‘creative destruction’ and the fear of failure; sustainable economic growth and development; and system approach to failures and their impact on the enterprise operation.

Download or read book Entrepreneurial State written by Mariana Mazzucato and published by Anthem Press. This book was released on 2015 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: List of Tables and Figures; List of Acronyms; Acknowledgements; Introduction: Thinking Big Again; Chapter 1: From Crisis Ideology to the Division of Innovative Labour; Chapter 2: Technology, Innovation and Growth; Chapter 3: Risk-Taking State: From 'De-risking' to 'Bring It On!'; Chapter 4: The US Entrepreneurial State; Chapter 5: The State behind the iPhone; Chapter 6: Pushing vs. Nudging the Green Industrial Revolution; Chapter 7: Wind and Solar Power: Government Success Stories and Technology in Crisis; Chapter 8: Risks and Rewards: From Rotten Apples to Symbiotic Ecosystems; Chapter 9: So.

Download or read book Business Failure and Entrepreneurship written by Grace S. Walsh and published by . This book was released on 2016-07-20 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt: Business failure research has been the focus of renewed interest in the entrepreneurship field. It is complex, being both a sign of economic vibrancy and the source of great individual trauma. An understanding of these complexities is important to academics, practitioners and regulators. This monograph provides a review of the literature to date. It charts the emergence of business failure research in the finance literature through to its recent development within the contemporary entrepreneurship field. The multidiscipline nature of business failure research is explored through incorporation of studies from accountancy, information systems, social psychology, general management, economics and entrepreneurship. Research on the topic is diverse; the lack of a universally accepted definition of failure coupled with the absence of an underpinning theory has resulted in an expansive range of studies. The aim of this review is to provide a comprehensive and critical review of business failure research, bridge the gap between the various perspectives, and develop a cohesive understanding of the phenomena, upon which future studies can be based.

Download or read book The Entrepreneur written by Mark Christopher Casson and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Casson contends that, because of several assumptions made by classical economic theory, there is no established economic theory of the entrepreneur. A theory of the entrepreneur is needed to explain firm success or failure, firm creation and growth, economic growth and development, and income distribution. The entrepreneur is significant historically because, although he is atypical, he has altered the course of history. The essence of a theory of the entrepreneur should be both the rationalization of success and explanation of failure. A theory of the function of the entrepreneur will have an important role in a theory of economic dynamics, the competitive process, and trade cycles. The book proceeds based on two reconstructions of economic theory. (1) Individuals differ in taste and access to information; the entrepreneur proceeds on the basis of the unique information available to him. (2) There are inherent difficulties (transaction costs) in organizing markets; the entrepreneur often must create market institutions. Casson's theory converges functional and indicative definitions of the entrepreneur. He defines an entrepreneur as "someone who specializes in taking judgmental decisions about the coordination of scarce resources." Skills essential for the entrepreneur are identified. The most important concept for Casson's theory is coordination, as a problem and a process, private or social. It is the dynamic counterpart of allocation; two mechanisms are contract and conjecture. Bargaining must converge to equilibrium. The entrepreneur's assessment (the role of his superior judgment) of a situation (coupled with his role as intermediator) is crucial toward influencing where, when, and how coordination occurs. Coordination reduces the entrepreneur's exposure to uncertainty through insurance and speculation. Coordination is difficult in the realm of public goods (goods in common ownership). Entrepreneurial coordination is always partial, because it engages only a small sector of the economy; partial coordination is continuous, and overall consistency cannot be guaranteed. The theory of the entrepreneur is related to the theory of the market making firm: the entrepreneur operates in a market economy through the firm, of which the entrepreneur is the founder or owner-manager. To overcome obstacles to trade, market-making activities are required, which involve information and incur costs. Transaction costs can be reduced by market internalization. The entrepreneur can internalize the exploitation of commercial information upon which his superior judgment is based. When re-contracting is difficult, the market-maker responds by building inventory. Market-making services to buyers and sellers are usually packaged by an intermediator; the entrepreneurship function of producers and retailers is "impure." The economies of centralized control, which can be delegated and occur in many forms, can be attributed to the internalization of a market. Entrepreneurs adopt hard-line bargaining strategies because they believe they have superior market knowledge. The economic factors governing the growth rate of the firm are analyzed using concepts developed previously in the book. New firm formation results from opportunity recognition by the entrepreneur and the belief that it is best exploited by self-employment; the family is a major source of capital, labor, and information. The market for entrepreneurs operates uniquely; it allocates judgment decisions to entrepreneurs. The number of entrepreneurs and their rewards are analyzed. Because of major social and economic barriers, the heroic figure of the entrepreneur is a myth; entrepreneurship, however, is important for social mobility, even though the absolute degree is rather limited. Alternative economic theories of Leibenstein, Hayek and Kirzner, Knight, Schumpeter, and Andrews and Penrose are critically reviewe.

Download or read book Entrepreneurial Failure written by Dean A. Shepherd and published by Edward Elgar Publishing. This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Entrepreneurs act in environments of great risk and high uncertainty, and as a result, failure is a common occurrence. For this volume, Professor Shepherd has made a judicious selection of published articles, which explore the antecedents to and potential outcomes of entrepreneurial failure. By understanding these causes and consequences, entrepreneurs may become better able to manage failure, to reduce its costs and to capitalize on its benefits. With an insightful original introduction by the editor, the book provides an authoritative guide to current scholarly debate in this topical area and lays a foundation for future study.

Download or read book What s Wrong with Keynesian Economic Theory written by Steven Kates and published by Edward Elgar Publishing. This book was released on 2016-08-26 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Possibly the strangest phenomenon in all of economics is the absence of a long tradition of criticism focused on Keynesian economic theory. Keynesian demand management has been at the centre of some of the worst economic outcomes in history, from the great stagflation of the 1970s to the lost decade and more in Japan following the expenditure program of the 1990s. And once again, following the Global Financial Crisis, it is incontrovertible that no stimulus program in any part of the world has been a success, each one having been abandoned as conditions deteriorated under the weight of public sector spending. This book brings together some of the most vocal critics of Keynesian economics. Each author attempts to explain what is wrong with Keynesian theory in ways that can be understood by those seeking guidance on where to turn for a more accurate explanation of the business cycle and on what to do when recessions occur.

Download or read book Entrepreneurial Economics written by Keith S. Glancey and published by Palgrave Macmillan. This book was released on 2000-08-05 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: Entrepreneurial Economics is concerned with the role of entrepreneurs and the nature and scope of entrepreneurship in the economy. It broadly covers a range of economic and non-economic theories of the characteristics and behavior of entrepreneurs. Also considered are government policies to increase the number of entrepreneurs in the economy and social entrepreneurship linked to economic development.

Download or read book Economics Entrepreneurship Ethics written by Daniel R. Hogan Jr. Ph.D. and published by AuthorHouse. This book was released on 2013-06-26 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economics, Entrepreneurship, Ethics, three subjects one does not often see addressed in one book. Yet upon reading and studying the different treatments, an overlap can be perceived and the interrelation of the three becomes evident for a successful business. The entrepreneur cannot live in isolation. To be successful and start, grow, and manage a profitable business with sustainability, he/she must be cognizant of all the factors that may impact (favorable and unfavorable) the business. In this regard a true internal locus-of-control, a firm belief that “if it is to be it is up to me” must exist. It is not enough to be expert in a particular line of business or trade. One must know the business-of-the-business. In so doing a working knowledge of the environment in which the business is to survive is essential. Besides the technical knowledge which may be necessary for operations, and besides the sales and marketing acumen possessed, the financial language of the business must be understood and constantly analyzed and monitored. As does the economic conditions of the market, industry, country, and the world; for all will have an effect on the future and success of the venture. Constant attention must be paid to government regulations and legislation. Ethical considerations and behavior must always be in the forefront of decision-making. In the final analysis the true entrepreneur is all alone. No matter how many key employees are hired, business partners and investors are acquired, advisors and consultants are made available, the founder and perhaps the CEO and COO for an extended period of time, can never delegate ultimate responsibility. It is therefore necessary to always be working on the business and not simply working in the business. A business person, founder, owner, manager, entrepreneur certainly does not deal with economics, entrepreneurship, and ethics in isolation. They are interwoven and necessary for every productive decision made. This book, $Economics, $Entrepreneurship, $Ethics, accompanying the others in the series, $The Entrepreneur’s Edge – Finding the Money, $The Entrepreneur’s Manager – The Business Man’s Business Plan, and $The Entrepreneur’s Guide – To Start, Grow, and Manage a Profitable Business, helps to fill the tool box necessary for every entrepreneur and business manager. “Entrepreneurship is based upon the same principles, whether the entrepreneur is an existing large institution or an individual starting his or her new venture singlehanded. The rules are pretty much the same, the things that work and those that don’t are pretty much the same, and so are the kinds of innovation and where to look for them. In every case, there is a discipline we might call Entrepreneurial Management.” Peter Drucker

Download or read book Risk Factors and Business Models written by D. Anthony Miles and published by Universal-Publishers. This book was released on 2011-04 with total page 199 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an in-depth investigation on SMEs and risk factors that influence and cause failure. Using key concepts derived from accounting, economics, marketing, management, finance, and entrepreneurship literature, Miles identifies five key risk factors that are critical to the success or failure of a business enterprise: (a) personal characteristics, (b) intangible operations, (c) enterprise operations, (d) market climate, and (e) business environment.

Download or read book How Markets Work written by Israel M. Kirzner and published by IEA Hobart Paper. This book was released on 1997 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the last hundred years or so, the neo-classical school has come to dominate microeconomic thinking. Economists concerned with competition have taken refuge in increasingly complex models which emphasize the end-state of competitive equilibrium. This paper presents, in non-technical terms, an 'Austrian' view of how a market economy works. The writer of this book follows in the Austrian tradition as he tries to crystallize the theory of entrepreneurial discovery and of its implications for economic understanding and policy.

Download or read book The Problem of Production written by Per L Bylund and published by Routledge. This book was released on 2015-12-22 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: The theory of the firm has been fertile ground for economists. Bylund proposes a new theory, rooted in Austrian economics, which examines the firm as a part of the market, and not as a free-standing entity. In this integrated view, a theory is offered which incorporates entrepreneurship, production, market process and economic development.

Download or read book Market Theory and the Price System written by Israel Mayer Kirzner and published by Ludwig von Mises Institute. This book was released on 2007 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: Israel Kirzner's outstanding book on price theory is back in print. It is been very difficult to obtain it for decades, even though it is surely the best textbook on Austrian price theory ever written. The prose is crystal clear and the organization exceptional. He takes the reader through the foundations of individual action, exchange, utility, demand and supply, production, and the market process itself. Had it been in print, it would have schooled generations in Austrian price theory, and it is surely useful in the classroom today, or for general reading. Not a collection of essays, it is an integrated presentation from top to bottom, written early in Kirzner's post-doctoral career.

Download or read book Entrepreneurship and Economic Growth written by David B. Audretsch and published by Oxford University Press. This book was released on 2006-04-27 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: By serving as a conduit for knowledge spillovers, entrepreneurship is the missing link between investments in new knowledge and economic growth. The knowledge spillover theory of entrepreneurship provides not just an explanation of why entrepreneurship has become more prevalent as the factor of knowledge has emerged as a crucial source for comparative advantage, but also why entrepreneurship plays a vital role in generating economic growth. Entrepreneurship is an important mechanism permeating the knowledge filter to facilitate the spill over of knowledge and ultimately generate economic growth.

Download or read book The Myth of the Entrepreneurial State written by Deirdre Nansen McCloskey and published by American Institute for Economic Research. This book was released on 2020-10-16 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: A common narrative of the post-World War II economists was that the State is indispensable for guiding investment and fostering innovation. They claimed that the wealth of the modern world is the result of past State guidance and that what is needed for future economic growth is more State guidance. This position has recently been rejuvenated in reaction to the Great Recession of 2008. The truth is that the enriched modern economy was not a product of State coercion. It was a product of a change in political and social rhetoric in northwestern Europe from 1517 to 1789. The Great Enrichment, that is, came from human ingenuity emancipated from the bottom up, not human ingenuity directed from the top down. The true question is what on balance is the best way to organize innovation—by the “wise State” or by commercially tested betterment? The American Institute for Economic Research in Great Barrington, Massachusetts, was founded in 1933 as the first independent voice for sound economics in the United States. Today it publishes ongoing research, hosts educational programs, publishes books, sponsors interns and scholars, and is home to the world-renowned Bastiat Society and the highly respected Sound Money Project. The American Institute for Economic Research is a 501c3 public charity. The Adam Smith Institute is one of the world's leading think tanks, recognised as the best domestic and international economic policy think-tank in the UK and ranked 2nd in the world among Independent Think Tanks by the University of Pennsylvania. Independent, non-profit and non-partisan, the Adam Smith Institute works to promote free market, neoliberal ideas through research, publishing, media outreach, and education. The Institute is today at the forefront of making the case for free markets and a free society in the United Kingdom. The Institute was founded in the 1970s, as post-war socialism reached its high-watermark. Then, as now, its purpose was to educate the public about free markets and economic policy, and to inject sound ideas into the public debate.

Download or read book The Economics of Entrepreneurship written by Simon C. Parker and published by Cambridge University Press. This book was released on 2018-04-03 with total page 920 pages. Available in PDF, EPUB and Kindle. Book excerpt: This second edition of The Economics of Entrepreneurship is an essential resource for scholars following the current state of this fast-moving field, covering a broad range of topics in unparalleled depth. Designed to be used both as a textbook for specialist degree courses on the economics of entrepreneurship, and as a reference text for academic research in the field, the book draws on theoretical insights and recent empirical findings to show how economics can contribute to our understanding of entrepreneurship. New topics, such as crowdfunding, entrepreneurship education and microenterprise field experiments, appear for the first time, while existing treatments of topics like regional entrepreneurship, innovation and public policy are considerably deepened. Parker also discusses new empirical methods, including quasi-experimental methods and field experiments. Every section - indeed every page - of the new edition has been updated, resulting in a rigorous scientific account of entrepreneurship today.

Download or read book Learning from Entrepreneurial Failure written by Dean A. Shepherd and published by Cambridge University Press. This book was released on 2016-03-04 with total page 343 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an in-depth examination of the psychological obstacles to learning from entrepreneurial failure and how these can be overcome.

Download or read book The Economics of Entrepreneurship written by Simon C. Parker and published by Cambridge University Press. This book was released on 2009-11-12 with total page 569 pages. Available in PDF, EPUB and Kindle. Book excerpt: A theoretical and empirical investigation of how economics can contribute to our understanding of entrepreneurship.