Theoretical Traditions of Entrepreneurship

Abstract

The article offers information on the theoretical constructs and principles of entrepreneurship in higher education. The psychosocial perspective of entrepreneurship, and the environmental factors that influence entrepreneurship are also discussed through the supply-side perspective and the demand-side perspective. The supply-side perspective focuses on taking initiative to engage in entrepreneurship rather than emerging entrepreneurial activities according to change in economic and social conditions. The demand-side perspective of entrepreneurship pays attention towards the organizational and environmental conditions that promote and stimulate entrepreneurial activities and related economic growth.