Enterpreneurship Theories and Practice
1. Introduction
This article highlights key issues / factors that motivated MrJohnston to start his business. These key issues will be analysed using the external and internal factors of entrepreneurship. The internal factors will include theories such as personality theories, behavioural theories and sociological and cognitive approaches studied by various individuals and groups. We will also apply the Krueger Model which is an integrated approach to entrepreneurship.
We will briefly examine certain external factors that could contribute to / influence the behavioural characteristics of an enterprising individual, especially the cultural, political and economic conditions.
We will also discuss Mr Johnston’s views and practices on enterprise, in comparison to the various approaches and how they have evolved over the years, and examine the factors that contributed towards his success and continuity so far.
2. Enterprise
There are various narrow and broad definitions that have been used by different authors to define an Enterprise. However, essentially in a narrow sense enterprise is a profit making firm that contributes to the economical growth (Bridge, O 'Neill, & Cromie, 2003).
In a broader sense however, enterprise is a culture. It’s the attitude of an enterprising individual towards many different areas including social, individual, group, economic etc.
A definition by (Coffield & MacDonald, 1991) summarises the broader meaning nicely; “One can be enterprising both by making a million before one’s fortieth birthday and by shepherding passengers out of a burning aeroplane”.
These considerations of narrow and broad meanings of enterprise and some of approaches we will look at should help us explore the attributes and behavioural characteristics of enterprising individuals, in this case Mr Johnston. Do all entrepreneurs create enterprising businesses? Does EOL have an enterprising culture? We might find some clues to this by analysing the ‘stages of
This article highlights key issues / factors that motivated MrJohnston to start his business. These key issues will be analysed using the external and internal factors of entrepreneurship. The internal factors will include theories such as personality theories, behavioural theories and sociological and cognitive approaches studied by various individuals and groups. We will also apply the Krueger Model which is an integrated approach to entrepreneurship.
We will briefly examine certain external factors that could contribute to / influence the behavioural characteristics of an enterprising individual, especially the cultural, political and economic conditions.
We will also discuss Mr Johnston’s views and practices on enterprise, in comparison to the various approaches and how they have evolved over the years, and examine the factors that contributed towards his success and continuity so far.
2. Enterprise
There are various narrow and broad definitions that have been used by different authors to define an Enterprise. However, essentially in a narrow sense enterprise is a profit making firm that contributes to the economical growth (Bridge, O 'Neill, & Cromie, 2003).
In a broader sense however, enterprise is a culture. It’s the attitude of an enterprising individual towards many different areas including social, individual, group, economic etc.
A definition by (Coffield & MacDonald, 1991) summarises the broader meaning nicely; “One can be enterprising both by making a million before one’s fortieth birthday and by shepherding passengers out of a burning aeroplane”.
These considerations of narrow and broad meanings of enterprise and some of approaches we will look at should help us explore the attributes and behavioural characteristics of enterprising individuals, in this case Mr Johnston. Do all entrepreneurs create enterprising businesses? Does EOL have an enterprising culture? We might find some clues to this by analysing the ‘stages of
Bibliography: Boyatzis, R. (1982). The Competent Manager. New York: Wiley . Boyd, N. C., & Vozikis, G. S. (1994). The Influence of Self-Efficacy On the Development of Entrepreneurial Intentions and Actions. Entrepreneurship: Theory and Practice , p. 67. Bridge, S., O 'Neill, K., & Cromie, S. (2003). Understanding Enterprise, Enterpreneurship and Small Business (Second Edition ed.). Caird, S. (1992). Problems with Identification of Enterprise Competencies and the Implications for Assessment and Development. Management Education and Development , pp. 6-17. Chell, E., Haworth, J., & Brearley, S. (1991). The Entrepreneurial Personality: Concepts, Cases, and Categories. London: Routledge. Chen, C. C., Gene-Greene, P., & Crick, A. (1998). Does Entrepreneurial Self-Efficacy Distinguish Entrepreneurs From Managers? Journal of Business Venturing , 295-316. Churchill, N. C., & Lewis, V. L. (1983). Growing Concerns: The Five Stages of Small Firm Growth (May-June ed.). Harvard Business Review, 31-40. Coffield, F., & MacDonald, R. (1991). Risky Business? Youth and Enterprise Culture. Brighton: Falmer Press, p.29. Cunningham, J. B., & Lischeron, J. (1991). Defining Entrepreneurship. Journal of Small Business Management, p. 47. Deary, I. J., & Matthews, G. (1993;July). Personality Traits Are Alive and Well. The Psychologist, p.299. Delmar, F. (2000). The Psychology of the Entrepreneur, in S.Carter and D.Jones-Evans 9eds), Enterprise and Small Business. London: Pearson Education, 135-139. Fagenson, E. A. (1993). Personal Value Systems of Men and Women Entrepreneurs Versus Managers. Journal of Business Venturing, p424. Greiner, L. E. (1972). Evolution and Revolution as Organisations Grow. Harvard Business Review, 50(4), 37-46. Harding, R., Hart, M., Jones-Evans, D., & Levie, J. (2007). Global Entrepreneurship Monitor, United Kingdom 2007 Monitoring Report, 1-21. Hornaday, R Krueger, N. F. (1995). Prescription for Opportunity: How Communities Can Create Potential for Entrepreneurs. Washington, DC: Small Business Foundation of America, Working Paper 93-03. (1991). Management Charter Initiative. London: MCI: Management Standards Implementation Pack. McClelland, D. C. (1965;Nov-Dec). Achievement Motivation Can be Developed. Harvard Business Review, 6-24. Miller, D., & Friesen, P. H. (1987). Organisations: A Quantum View. Englewood Cliffs, NJ: Prentice Hall. Morrison, A. (2000). Initiating Entrepreneurship, in S. Carter and D.Jones-Evans (eds). Enterprise and Small Business: Principles, Practice and Policy, (London: Financial Times/Prentice-Hall) , pp. 105-13. Roberts, A. K. (1977). The Social Conditions, Consequences and Limitations of Careers Guidance. British Journal of Guidance and Counselling , 1-9 at 7. Wood, R., & Bandura, A. (1989). Social Cognitive Theory of Organisational Management. Academy of Management Review , 361-84.