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Working Definition of Entrepreneurship

In my most recent post I meant to include the working definition of entrepreneurship that I use in my classes (and in my own work). It comes from William Green, the former Dean of the College at the University of Rochester.

…we understand entrepreneurship to mean the transformation of an idea into an enterprise that creates value—economic, social, cultural, or intellectual.

The reason I find this definition so powerful is its inclusion of the intellectual domain. With this inclusion, the creation of news ways of thinking becomes an entrepreneurial activity.

Comments

  1. Jim: that is THE BEST definition I have yet encountered (and as you know, definitions of e-ship are a dime a dozen). I’ll be adopting this (with attribution, of course). Cheers! -Jeff

  2. Jim…I do like it as well. The four elements for me create true sustainability and woven together make a better world. Stanford University would add…”.without regard for resources”….this element is key to entrepreneurs, they know how to gather the resources….personnel, financial, cultural (in our case).

    Stay in touch,

    Tom

  3. Jim:
    I posted something on Creative Infrastructure that speaks, at least a little bit, to this question of definition. I hope you’ll take a look. Feedback welcome: http://creativeinfrastructure.org/2013/02/06/keeping-art-at-the-center/
    – Linda

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