What Is Entrepreneurship?

Abstract

What is entrepreneurship? To do research on entrepreneurship, we first need to decide what we mean by that term. A challenge here is that entrepreneurship has many definitions and connotations. As a societal phenomenon, this chapter proposes that entrepreneurship be defined as the competitive behaviors that drive the market process, alternatively phrased as the introduction of new economic activity that leads to change in the marketplace. The chapter elaborates on the advantages and implications of this choice of perspective.