Entrepreneurship Theory: Approaches, Themes, and Strengths

Running head: Entrepreneurship theory 1
ENTREPRENUESHIP THEORY
Name
Institution
Course
Date

Entrepreneurship theory 2
Contents
Contents......................................................................................................................................................2
Introduction.........................................................................................................................................2
Approaches to entrepreneurship behavior...........................................................................................3
Themes of entrepreneurship behavior..................................................................................................5
Innovativeness theme historical consideration....................................................................................6
Weaknesses of the article based on entrepreneurial behavior.............................................................7
Strengths of the articles regarding entrepreneurial behavior..............................................................8
Conclusion...........................................................................................................................................9
References.........................................................................................................................................10

Entrepreneurship theory 3
Entrepreneurship theory
Introduction
According to Dees (2017) entrepreneurship theory is a popular field that has aided many
management and entrepreneurship scholars and students in their research. In this review,
Tavasolli, Bengtsson & Karlsson (2017) proposes systematic explanation of the function of
entrepreneurship in their businesses. The paper also reviews how Anakhin derived the law of
evolution that believes in culture and social structures (Anakhin, 2012). Anokhin & Wincent
(2012) argues that an entrepreneur should solve problems amicably by considering technological
factors. In this study, the work of Kantur (2016) is helpful as he proposes that entrepreneurship
as a state of mind procedure. Hosseini (2019) alleges that composite approach brings out
different ways that affect entrepreneurial development. The work of Hitt and Duane (2016) is
also important as it states that change should be part and parcel of an entrepreneur. Terjesen,
Hessels & Li (2016) alleges that competition aggressiveness promotes the business to greater
level. Entrepreneurs are also required to differentiate and understand between the outcome of the
results before undertaking (Chell, Perrini and Harris, 2016). Entrepreneurs should possess
required skills when taking risks so as not to bring losses to the business (O’Neil, 2016).
According to Ault (2016), entrepreneurial organisations are willing to possess characteristics of a
good entrepreneur who always sees opportunities. The best ways of becoming a critical
entrepreneur is by becoming sensitive and well informed (Deng and Sinkevics, 2018). Team
progress should be checked more often to reduce the errors in firm activities (Solé, 2013).
Relying on the work of Bosma (2013) which states business threat might lead to a significant
financial loss, journals are not specific on the dangers of risky venture. More research should
focus on the nature of more entrepreneurial behavior theories rather than concentrating on other
fields of study (Alvarez & Barney, 2014). Therefore, this paper is aimed to discuss the

Entrepreneurship theory 4
entrepreneurship behavior concerning innovation by analysing different reviews on the matter of
recognising opportunity and develop a broader understanding of the influence of
entrepreneurship in business.
Approaches to entrepreneurship behavior
The concept of entrepreneurship is not very old. It started after the Second World War when
some economist main concern was on financial problem. During the beginning of the last
century, entrepreneurship realised a significant improvement in the economy and industrial
revolution. Weber and Schumpeter were the first scholars to have a systematic explanation of the
function of entrepreneurship in their businesses (Tavasolli, Bengtsson & Karlsson, 2017). After
that, different scholars have emerged to discuss the various aspects of social entrepreneurship
issues, economic and any other aspect of entrepreneurship in an organisation. This part will
tackle approaches to entrepreneurship behavior.
The first one is the social approach; it majors with the social and cultural issues that enhance or
hinder entrepreneurship development in the community (Alvarez & Barney, 2014). It seeks to
study the way people live facilitate or else inhibit entrepreneur development. It derives its basis
on the law of evolution that believes that lies in culture and social structures (Anakhin, 2012).
Max Weber was among the first scholar to study about the Protestants and Catholicism. He
argued that entrepreneurship will be created by giving birth to entrepreneurs and capitalism.
According to him, some religions and religious beliefs for example Hindu can enhance
entrepreneurial development. In some societies, for instance, little predominance on some social
or communal structures and events will affect the entrepreneurship (Solé, 2013). Anokhin &
Wincent (2012) opined that the entrepreneur should solve problems amicably by considering