Public policy spanning a broad range of contexts, ranging from the
European Union, to states, cities and local communities around the
globe, has turned to entrepreneurship to provide the engine for
economic growth, competitiveness in globally linked markets, and
jobs. This book explains why entrepreneurship has emerged as a bona
fide instrument of growth policy. The knowledge spillover theory of
entrepreneurship suggests that entrepreneurship provides a crucial
mechanism in the process of economic growth by serving as a conduit
for knowledge spillovers. Investments in new knowledge and ideas
may not automatically spill over and result in commercialization,
as has typically been assumed in models of economic growth. Rather,
the existence of what is introduced as the knowledge filter impedes
the spillover and commercialization of investments in new ideas and
knowledge. By penetrating the knowledge filter and facilitating the
spillover of knowledge that might otherwise not be commercialized,
entrepreneurship provides the missing link to economic growth. This
new focus of entrepreneurship as a conduit transmitting the
spillover of knowledge generates a series of theoretical
propositions, involving not just the impact of entrepreneurship on
economic performance and growth, but also the very nature of
entrepreneurship. The theoretical propositions range from positing
that entrepreneurial opportunities are not exogenously given but
rather endogenously and systematically created by investments in
new knowledge and ideas, to the importance of geographic proximity
between entrepreneurial activity and knowledge sources, the impact
of location on entrepreneurial performance, and the new roles for
board, managers and modes of finance in entrepreneurial firms
accessing and absorbing knowledge spillovers. These propositions
are subjected to systematic econometric scrutiny and verification
using both aggregate data to analyze the links between
entrepreneurship and growth, as well as firm-level data to analyze
the impact of knowledge spillover on entrepreneurial location,
performance, boards, managers and mode of finance. The resulting
empirical evidence supports the knowledge spillover of
entrepreneurship not only by linking entrepreneurship to economic
growth and performance, but also by identifying how the
organization and strategy of entrepreneurial firms are influenced
by the need to access, absorb and commercialize external knowledge
spillovers. The book concludes that the new millennium may not be
so much about the process of Joseph Schumpeter's creative
destruction, where entrepreneurial startups displace and ultimately
drive incumbent company's out of business, but rather characterized
by creative construction. Globalization and its concomitant
outsourcing and offshoring is the source of the "destruction",
especially in terms of lower skilled jobs. By contrast, in the 21st
century global economy, entrepreneurship is constructive by
commercializing investments in knowledge and ideas that might never
have been commercialized but ultimately result in growth, global
competitiveness and employment. Thus, the emergence of
entrepreneurship policy can be interpreted as the attempt to
generate entrepreneurial based economic growth by creating an
entrepreneurial economy.
General
Is the information for this product incomplete, wrong or inappropriate?
Let us know about it.
Does this product have an incorrect or missing image?
Send us a new image.
Is this product missing categories?
Add more categories.
Review This Product
No reviews yet - be the first to create one!
Welcome to Loot.co.za!
Sign in / Register |Wishlists & Gift Vouchers |Help | Advanced search
