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IIDS Lect 1_ Part 3: Ch2 & 6 (NOT 2.2) (Measures of the 2 approaches,…
IIDS Lect 1_ Part 3: Ch2 & 6 (NOT 2.2)
Economist approach
: who (becomes an entrepreneur) and when
Who?
Which individuals likely to become entrepreneur, e.g., males versus females; highly versus lowly educated.
When?
Conditions that make it more or less rewarding for individuals to become entrepreneur e.g., having entrepreneurial parents, financial conditions, policies, taxes, regulations.
Organizational approach:
How
does one become an entrepreneur?
How?
Entrepreneurial personality and decision making choices (how people think and act) that facilitate new venture creation.
Entry: 2. Measures of entrepreneurship
Static (stock): e.g., nr of business owners / self-employed
Dynamic (flow): e.g., nr of new business owners / new self-employed / start-upsreflects entry!
Measures of the 2 approaches
Economist:
static and dynamic measures that reflect occupation (e.g., self-employment, business ownership)
Organizational theorist:
dynamic measures that reflect creation of new businesses (e.g., nascent entrepreneurship, start-ups)
see slide 36/59
EXIT (ch 9 & 10)
Individual and business exit
Measures for exit / business closures
Perspectives on business closures
EXIT: 1. Individual and business exit
Frequent exit of young entrepreneurs/businesses slide 40
New entrepreneurs/business--> Liability of newness-->Frequent exit of entrepreneur/business
Entry and exit often go together slide 41
Entrepreneurial (individual) exit
business continues
business discontinues
The entrepreneur after an exit
Re-enter as entrepreneur (
serial
); this is
most common
, reasons:
Relevant experience, human capital
Entrepreneurship experience signals low ability as wage employee
Entrepreneurial exit
Become an employee
Become unemployed or exit the labor force
Types of entrepreneurs
Serial
Portfolio
Novice