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Discuss a successful entrepreneur, including their variety of…
Discuss a successful entrepreneur, including their variety of entrepreneurship, the entrepreneurial environment they emerged in and the sources of their opportunities.
Entrepreneurial opportunities = new goods, services, raw materials + organising methods sold at greater than their cost of production (Casson 1982)
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Entrepreneurial opportunities depend on asymmetries of information and beliefs = entrepreneurial opportunities become cost inefficient to pursue.
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Economy
Kirzner (1973) - decision errors create shortages, surpluses + misallocated resources.
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Duration of Opportunity
Monopoly rights, patent protection, exclusive contract inreases
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inability of others to imitate, substitute, trade for or acquire the resources (Venkataraman 1997:133)Char
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