Entrepreneurship: The Way Ahead

329 Pages·2004·0.97 MB·English

by  Harold Welsch

Entrepreneurship
The creation of new business organizations for economic prosperity is the key-
stone of commercial development. The study of this process has occupied the
minds of scholars for centuries and the need to move from theories of entre-
preneurship to the actual “doing” of entrepreneurship is intense. Theorizing
about entrepreneurship has been done across many disciplines, but what can be
taken from the existing traditions to contribute to our teaching and learning
experiences?
Written for educators, researchers, and practitioners, Entrepreneurship:
The Way Ahead offers insight and perspective on entrepreneurship from the
foremost academic leaders in the field. Taking a contemporary approach to
entrepreneurial processes, the book considers how the convergence of indi-
vidual, opportunity, and environment ultimately leads to success or failure,
while illuminating the true relationship between entrepreneurship and techno-
logical and social issues. It also explores innovations and developments in entre-
preneurship education and training, while evaluating existing literature and
research.
Entrepreneurship: The Way Ahead represents some of the most advanced
thinking in the field of entrepreneurship, providing an essential grounding of
new theory for researchers and entrepreneurial managers alike.
Harold P. Welsch holds the Coleman Foundation Chair in Entrepreneurship at
DePaul University, U.S.A., and has been active in entrepreneurship for over
twenty years as an educator, consultant, researcher, author, and entrepreneur.

Entrepreneurship
The way ahead
Edited by
Harold P. Welsch
First published 2004
by Routledge
29 West 35th Street, New York, NY 10001
Simultaneously published in the UK
by Routledge
11 New Fetter Lane, London EC4P 4EE
Routledge is an imprint of the Taylor & Francis Group
This edition published in the Taylor & Francis e-Library, 2004.
Selection and editorial matter © 2004 Harold P. Welsch;
individual chapters © the contributors
All rights reserved. No part of this book may be reprinted or
reproduced or utilized in any form or by any electronic,
mechanical, or other means, now known or hereafter
invented, including photocopying and recording, or in any
information storage or retrieval system, without permission in
writing from the publishers.
Library of Congress Cataloging in Publication Data
Entrepreneurship: the way ahead/edited by Harold P. Welsch.
p. cm.
Includes bibliographical references and index.
1. Entrepreneurship 2. Electronic commerce. 3. New business enterprises. I. Welsch, Harold P.
HB615.563875 2003
338(cid:1).04–dc21
2003011928
British Library Cataloguing in Publication Data
A catalogue record for this book is available from the British Library
ISBN 0-203-35682-9 Master e-book ISBN
ISBN 0-203-66924-X (Adobe eReader Format)
ISBN 0–415–32393–2 (hbk)
ISBN 0–415–32394–0 (pbk)
Contents
List of figures viii
List of tables ix
Notes on contributors x
Foreword xiv
Acknowledgments xvi
PART ONE
Overview 1
1 Howard H. Stevenson
INTELLECTUAL FOUNDATIONS OF ENTREPRENEURSHIP 3
2 Karl H. Vesper
UNFINISHED BUSINESS (ENTREPRENEURSHIP) OF THE
TWENTIETH CENTURY 15
3 Dianne Wyndham Wingham
ENTREPRENEURSHIP THROUGH THE AGES 27
4 John Sibley Butler
THE SCIENCE AND PRACTICE OF NEW BUSINESS VENTURES:
WEALTH CREATION AND PROSPERITY THROUGH
ENTREPRENEURSHIP GROWTH AND RENEWAL 43
5 Harold P. Welsch and Mark A. Maltarich
EMERGING PATTERNS OF ENTREPRENEURSHIP:
DISTINGUISHING ATTRIBUTES OF AN EVOLVING DISCIPLINE 55
vi CONTENTS
PART TWO
Entrepreneurial processes 71
6 G.T. Lumpkin, Gerald E. Hills, and Rodney C. Shrader
OPPORTUNITY RECOGNITION 73
7 Michael H. Morris, Minet Schindehutte, and Raymond
W. LaForge
THE EMERGENCE OF ENTREPRENEURIAL MARKETING: NATURE
AND MEANING 91
8 Lynn Neeley
BOOTSTRAP FINANCE 105
9 Jianwen Liao
ENTREPRENEURIAL GROWTH: PREDICTORS AND INDICATORS 117
10 Jianwen Liao
ENTREPRENEURIAL FAILURES: KEY CHALLENGES AND FUTURE
DIRECTIONS 133
PART THREE
Technology and entrepreneurship 151
11 Rodney C. Shrader, Gerald E. Hills, and G.T. Lumpkin
ELECTRONIC COMMERCE: CURRENT UNDERSTANDING AND
UNANSWERED QUESTIONS 153
12 Michael Stoica
THE IMPACT OF MOBILE COMMERCE ON SMALL BUSINESS AND
ENTREPRENEURSHIP 165
13 Lisa K. Gundry and Jill Kickul
E-COMMERCE ENTREPRENEURSHIP: EMERGING PRACTICES,
KEY CHALLENGES, AND FUTURE DIRECTIONS 181
PART FOUR
Social entrepreneurship 193
14 Barbara A. Kuhns
DEVELOPING COMMUNITIES, PEOPLE, AND BUSINESSES: IN
SEARCH OF A MODEL OF COMMUNITY-BASED ENTERPRISES 195
15 Gregory Fairchild and Patricia G. Greene
WEALTH CREATION IN DISTRESSED INNER CITIES: WHAT CAN
BUSINESS SCHOOLS CONTRIBUTE? 211
CONTENTS vii
PART FIVE
Entrepreneurship types 225
16 Lisa K. Gundry and Miriam Ben-Yoseph
WOMEN ENTREPRENEURS IN THE NEW MILLENNIUM: RECENT
PROGRESS AND FUTURE DIRECTIONS FOR RESEARCH,
ENTREPRENEURSHIP DEVELOPMENT, AND TEACHING 227
17 Steve Taplin
SERIAL ENTREPRENEURSHIP: AN IN-DEPTH LOOK AT THE
PHENOMENON OF HABITUAL ENTREPRENEURS 239
18 Eugene Fregetto
IMMIGRANT AND ETHNIC ENTREPRENEURSHIP: A U.S.
PERSPECTIVE 253
PART SIX
Entrepreneurship education 269
19 Patrick Sandercock
INNOVATIONS IN ENTREPRENEURSHIP EDUCATION: STRATEGY
AND TACTICS FOR JOINING THE RANKS OF INNOVATIVE
ENTREPRENEURSHIP PROGRAMS IN HIGHER EDUCATION 271
20 Gerald E. Hills
ENTREPRENEURSHIP EDUCATION: MARKET SEGMENTATION AND
LEARNER NEEDS 287
Index 301
Figures
5.1 Structure of the entrepreneurship field 57
5.2 Structure of entrepreneurial finance 57
5.3 Structure of entrepreneurship education 58
5.4 Structure of entrepreneurial practice 58
5.5 Taxonomy of emerging fields 60
5.6 Results of search for entrepreneurship journal articles 61
6.1 Creativity based model of entrepreneurial opportunity
recognition 75
7.1 Five elements comprising the conceptualization of
entrepreneurialmarketing 98
10.1 Entrepreneurial failure: an integrative model 135
12.1 The mobile commerce value chain 169
15.1 Entrepreneurial Growth Resource Center, University of
Missouri–Kansas City: EGRC organization chart 219
17.1 Overview of the types of entrepreneurs 240
17.2 Suggested model for framing serial entrepreneurial research 251
18.1 An illustration of the basic linear regression relationship 260
18.2 Interactive model of ethnic business development 261
18.3 Sources of ethnic strategies 262
20.1 Entrepreneurship education: a decision process model 289
20.2 Segmentation bases for entrepreneurship education market 293
20.3 Entrepreneurship learner/customer perception maps for
entrepreneurship education programs 295
Tables
1.1 A process definition of entrepreneurship 6
3.1 Entrepreneurship to all people 35
5.1 Taxonomy of developing branches of entrepreneurship 61
6.1 Highlights of the opportunity recognition literature 76
6.2 Opportunity recognition behaviors: Hall of Fame Entrepreneurs
(HFE)and Representative Entrepreneurs (RE) 82
6.3 Key opportunity recognition behavior findings 83
7.1 Six perspectives on the emerging nature of marketing 95
7.2 Contrasting conventional marketing and entrepreneurial
marketing 102
8.1 Bootstrap finance categories and techniques 106
9.1 Frequency of growth predictors in 45 growth articles
(1990–2002) 124
9.2 Top growth predictors in literature study by category 124
9.3 Frequency of growth indicators in 27 growth articles
(1990–2002) 125
10.1 Entrepreneurial failure: a literature review 136
12.1 Characteristics of the wireless technology 168
12.2 Differences between technical components in e-commerce and
m-commerce 171
14.1 Summary of community-based enterprise examples 205
17.1 Motivational factors 245
17.2 Search strategies 246
19.1 Summary of innovative entrepreneurship practices 273
20.1 Research opportunities at the entrepreneurship/segmentation
interface 296