Entreprenurship in America - Research Paper Example

In terms of definition, Harold Welsch (3) emphasized that “THE FIELD OF ENTREPRENEURSHIP was described in 1983 as ‘an intellectual onion. You peel it back layer by layer and when you get to the center, there is nothing there, but you are crying.’ This description of the field by a senior faculty member at Harvard Business School was given to a young person being recruited into the field.” The advice indicated management had to resolve all types of customer complaints. Even though there was lack of earlier academic attention, researches have indicated that the vital importance of new ventures and small businesses that incorporated creation of jobs for the community.

For example, some of the global entrepreneurial powerhouses included Silicon Valley, Silicon Alley, Route 128, Austin, and Research Triangle. The sociological concept of the global entrepreneurship spirit continues to evolve. More and more individuals have joined the bandwagon called entrepreneurship. More and more people have funneled their hard earned cash and other assets into the entrepreneurship market segment during the last 100 years. In addition, Harold Welsch (3) mentioned Harvard described entrepreneurship as the pursuit of opportunity beyond the resources the investor can presently manage.

The definition adeptly incorporates the benefits of maximizing the individual and society to bring out the best of the entrepreneurial spirit. The entrepreneurial spirit includes finding opportunities that will increase one’s current investments. The entrepreneur must find the needed resources to fill the needs of current and prospective clients. Further, David Landes (401) insists “THE SPECIAL GENIUS OF THE twentieth-century U.S. economy has typically been characterized as the harnessing of technology by entrepreneurs working within the large vertically integrated American corporation, at first wholly a private sector phenomenon, and then in cooperation with an increasingly interventionist federal government.

By the 1970s no sector of the U.S. economy, whether public or private, for-profit, or not-for-profit, was unaffected by this regime.” Focusing on the nonmanufacturing sectors such as entertainment and transfer of information have the marks of the scientifically improved, and controlled, type of industrial growth the incorporated the gains of the second industrial revolution. A better scrutiny of the 20th Century experience in the United States, on the other hand, proposes a much more complex image than simple rules espoused by many multinational corporations.

Likewise, the seemingly normalization of innovative changes, that include the implementation of perpetual motion machine in a network of large corporations, with the financial aid of many entities, had been part of the more complicated entrepreneurial story. In addition, the business activities of some small and medium scale entrepreneurial entities as well as individual entrepreneurs, working under the management of multinational corporations. In addition, Gerald Hills (5) opined “There is growing evidence that entrepreneurship should be treated as a major conceptual dimension within the marketing discipline.

Marketing journals, programs, and associations are structured around: (1) different marketing functions such as product development and advertising; and (2) types of markets and firms such as consumer and industrial, services, health care