What Are the Different Types of Entrepreneur Opportunities?

From 200 years after Cantilon proposed the concept of entrepreneur in the 1830s, he passed through Say to Marshall and went through three stages of the early development of entrepreneur theory. Schumpeter's definition of the categories and functions of professional entrepreneurs laid the theoretical prerequisite for incorporating entrepreneur theory into modern enterprise theory. The latest developments in modern enterprise theory, especially the promotion of contract theory and incentive theory, are almost always based on entrepreneur theory. Entrepreneurial incentive constraints and the nature and type of enterprises, corporate governance structures, and corporate capital structures The basic issues examined by modern enterprise theory are closely related, and modern entrepreneur theory has become an important part of modern enterprise theory.

Entrepreneur theory

From 200 years after Cantilon proposed the concept of entrepreneur in the 1830s, he passed through Say to Marshall and went through three stages of the early development of entrepreneur theory. Schumpeter's definition of the categories and functions of professional entrepreneurs laid the theoretical prerequisite for incorporating entrepreneur theory into modern enterprise theory. The latest of modern business theory

What is an entrepreneur (Entrepreneur) has always had different opinions. French economist J.B.Say, one of the pioneers of business theory, first defined entrepreneurs:

Accenture, a world-renowned management consulting company, has spoken with hundreds of thousands of entrepreneurs in 26 countries. 79% of business leaders believe that entrepreneurship is very important for business success. Accenture

The rapid development of entrepreneur theory is a matter of the last century, but the earliest research on entrepreneurs can be traced back to the period of primitive accumulation of capital before the creation of the complete system of classical economics by Adam Smith in 1776. In this historical period, although the meaning of entrepreneur is not very clear, it also has a relatively stable fixed meaning, that is, entrepreneurs are connected with risks. The difference between entrepreneurs and capitalists is only the difference in the content of taking risks. . They do not have a high social status, nor have they won the general respect and trust of society.

However, in this period of mercantilism and heavy agriculture school, there is still no lack of insights on entrepreneurs. The 18th-century French economist Cantilon was the first economist to use the concept of entrepreneurs to systematically examine the role of entrepreneurs in the economic literature. In his "Introduction to the Nature of Business" published in 1755, Examining its status and role in an uncertain market environment reveals the connection between entrepreneurs and the commodity economy. An entrepreneur in the sense of Contiron is an arbitrageur engaged in commercial speculation. Entrepreneurs in the eyes of the peasant school leader Quinais appeared as farmers. He believes that entrepreneurs are operators of large-scale farms, who engage in their own business on other people's land and are the implementers of a business. Turgo regards capital owners as an independent function in the economy and considers entrepreneurs as independent organizers and managers of businesses. It is worth mentioning the view of Nicholas, another economist of the agriculturist school, who regarded entrepreneurs as risk bearers while adding a unique feature to entrepreneurs. An innovator, entrepreneur invents new technology or ideas and applies them to production to

Review and Reality of Entrepreneur Theory

Entrepreneur theory, from the moment the entrepreneur was born, there is a need for research. By reviewing the development of entrepreneur theory, we can find that the development of entrepreneur theory and the development of entrepreneur seem to be uneven. Over a long period of history, the summary of entrepreneur theory is far stronger than its forward-looking nature, and in its more forward-looking historical period, we find that its theoretical nature is greater than its practicality.

From the above review, we can see that entrepreneurship theory never seems to receive the attention of mainstream economics. Mainstream economics has eliminated entrepreneur competition from the capitalist model, thus weakening the experts and the public's Vigorous understanding and respect. However, the non-mainstream side of mainstream economics and non-mainstream economics have been fully developed. The faster the socio-economic development, the more fully the entrepreneurial theory develops; the more fully the entrepreneurial theory develops, the faster the socio-economic development. From the initial discussion of the definition of entrepreneurs to the analysis of entrepreneurs using contract theory, the analysis of entrepreneurs has gradually evolved from isolated individual analysis to the analysis of entrepreneurs in a broad environment. For hundreds of years, entrepreneur theory has undergone a development process from point to surface and from surface to inside. However, we should also see that as a theory, the entrepreneurial theory is not very practical in practice. In the future development, to make the entrepreneur theory play a greater role, the practicality must be strengthened!

At the same time or after the development of the new institutional economics, many economists and entrepreneurs have carried out research. They have adopted more diverse methods to penetrate entrepreneurial theories in different economic schools and different disciplines. More comprehensive development has had a major impact on society.

1. Leibenstein's Entrepreneur Theory

In his article "Entrepreneurship and Development", Leibenstein believes that entrepreneurs are people who succeed in avoiding the inefficiencies prone to others or their organizations. Leibstein slammed the neoclassical firm theory and reexamined the decision-making process in the enterprise. Leibenstein introduced personal psychological and physical activities in decision making. Decision-making may rely on habits, conventions, ethics, imitation, or inertia, which are often non-maximizing. The incompleteness of information (the contract can clearly specify compensation but not the degree of effort) and inertia will produce non-configurational inefficiency relative to the Pareto efficiency of resource allocation, which Leibstein named it an inclusive Very strong concept-X is inefficient to cover all non-configuration inefficiencies. The role of the entrepreneur is to overcome X inefficiencies in the organization.

2. Carson's Entrepreneur Theory

Carson, a British economist, has synthesized a variety of entrepreneurial perspectives, and borrowed from other social sciences such as psychology, sociology to understand entrepreneurial behaviors, and gave an endogenous preference and endogenous implementation of entrepreneurial behavior analysis. A theoretical framework featuring dynamic institutional analysis. Carson defines entrepreneurs as "people who make judgmental decisions about the allocation of scarce resources. The essence of judgmental decision-making is that it is impossible to adopt a rule that is clearly correct and uses only publicly available information" . Carson also emphasized the importance of cultural and personal factors to inspire entrepreneurial behavior. Based on the analysis of entrepreneurial behavior, Carson takes the entrepreneurial decision-making as the premise, retains the neoclassical maximization and equilibrium analysis method, and derives an entrepreneurial market supply-demand equilibrium model. The greater the uncertainty, the greater the need for judgmental decision-making in business operations, and the greater the demand for entrepreneurs. In addition, Carson also pioneered the entrepreneurial market equilibrium model. However, Carson also pointed out: "'Entrepreneurs Any kind of "equilibrium" in the market is basically an analytical fiction, because it is the task of the entrepreneur to adjust the market to equilibrium. "

3 Zhang Weiying's Entrepreneur Theory

In "Entrepreneur of the Enterprise-Contract Theory", Zhang Weiying analyzed the phenomenon of the combination of business operator-entrepreneur-capitalist in classical enterprises according to the logic of capital employment labor, and established a general equilibrium model for entrepreneurs. As a three-variable function, operating capacity, personal wealth, and risk aversion explain the characteristics of entrepreneurs, workers, managers, and capitalists in an equilibrium state, and believe that talents that show entrepreneurial talent and have sufficient capital can be considered qualified companies. Family. He assumes that the business abilities of different individuals are at least partly gifted and cannot be cultivated solely by the day after tomorrow. Therefore, the levels are different from the beginning. It is this difference in individual business capabilities that creates opportunities for people to cooperate and build businesses. The importance of entrepreneurs stems from the uncertainty facing companies. Capital hired labor is a way to ensure that people with real talents are selected as entrepreneurs. Granting the residual claim to the operator may result in smaller welfare losses to the business and to each member of the business.

Entrepreneur Theory Outlook

In today's rapid economic development, as a specific type of human capital with the value of increasing marginal productivity, entrepreneurs play an increasingly important role in the process of enterprise development and socioeconomic progress. People are also more and more deeply aware that the success or failure of an enterprise lies in whether or not the real entrepreneurs have mastered the operation of the enterprise. The growth and replacement of entrepreneurs is the key to maintaining the continuous growth of the enterprise and the sustainable economic development.

We know that entrepreneurs have always been defined as the owners of the scarcest elements of socio-economic development and are the main source of economic growth productivity: it is the entrepreneurs who organize various factors to produce and change the way they combine to bring about economic innovation increase. Now, with the huge role of entrepreneurs increasingly recognized by the world, the theory of entrepreneurs will certainly occupy a more important position in the economic theory of the 21st century.

Entrepreneurs are now increasingly functionalized and replaced. With the increasing social status of entrepreneurs and recognition by the world, entrepreneurs are expected to occupy a more important position in the field of economics.

The value of a theory lies not only in its summary but also in its forward-looking nature. As the theory of entrepreneurs continues to develop, the requirements for forward-looking will become stronger.

The current entrepreneurial theory has a very high degree of theoreticalization, and according to the purpose of theoretical development, its return to practice will be a historical necessity.