This paper examines the nature of market orientation (MO) in entrepreneurial firms and proposes a conceptual model of market firm interface appropriate to entrepreneur led firms.

This paper attempts to recast the entrepreneur by synthesizing ideas from personal construct psychology and systems-based evolutionary economics. It retains an Austrian subjectivist emphasis but focuses on rapid product innovation rather than abitrage. Profit opportunities are mental constructs that link products and revenue streams. Entrepreneurs develop new products by forming novel connectio...

In the last decade or so, there has been a growing interest in an area that researchers are calling social entrepreneurship. This paper describes the structure and process of international development in Africa from the perspective of a social entrepreneur. It begins with a review of the latest concepts in social entrepreneurship, a movement spearheaded by individuals with a desire to make the ...

In this article we study the effect of uncertainty on an entrepreneur who must choose the capacity of his business before knowing the demand for his product. The unit profit of operation is known with certainty, but there is no flexibility in our one-period framework. We show how the introduction of global uncertainty reduces the investment of the risk-neutral entrepreneur and, even more, that ...

There is ongoing debate and some confusion about definitions and the use of the terms ‘entrepreneur’ and ‘entrepreneurship’ both in academia and in the media. The authors argue that this is likely to be a result of latent historical meanings for the terms, which have subsequently been debunked by academia, prevailing in public perceptions. Measurements of business start-up rates, self employmen...

This paper explores the non-material definitions of capital that were used by Carl Menger and especially Ludwig von Mises. Menger introduced the idea that capital is a businessperson's net worth devoted to earning income. Mises appears to have copied this definition, with added emphasis on the role of the entrepreneur. Mises also integrated this definition with a theory of loan interest. In the...

Self-employment is increasing among seniors. The percentage of individuals age 62 and over who were self-employed increased from 4.2 percent in 1988 to 5.4 percent in 2015. In contrast, the percentage of individuals under age 62 who were self-employed decreased from 7.2 percent in 1988 to 6.0 percent in 2015. This report explains the increase in self-employment among individuals age 62 and over...

The expectation of reciprocal obligations lays a foundation for the venture capitalist-entrepreneur relationship. These expectations, or perceived promises, constitute a psychological contract between the venture capitalist and the entrepreneur. In this paper, we are concerned with four forms of psychological contract violations in this relationship: i) disagreements over the strategy of the po...