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Entrepreneurship has become a popular career option in developed and developing countries, and a subject of interest for researchers and policymakers. This book introduces several important topics relevant to entrepreneurship and the process of creating, or giving birth to, a new business. The chapters cover definitions and types of entrepreneurship; the relationships among entrepreneurship, innovation and development; research on entrepreneurship, comparative research into entrepreneurship in multiple countries and research into cross-border entrepreneurship (i.e., international activity of small-and medium-sized enterprises and new ventures); factors influencing entrepreneurial activities; motivational traits of prospective entrepreneurs; the influence of societal culture on entrepreneurial activities and attitudes regarding entrepreneurship as a career path; the influence of the institutional environment on entrepreneurship; and the role of entrepreneurs in launching new businesses. Chapter 1 offers an overview and definitions of entrepreneurship. From an economic perspective, entrepreneurship is generally conceptualized as the creation of a new business and the bearing of the risk associated with that business in exchange for profits to be derived from the exploitation of opportunities in the marketplace (e.g., demands of consumers that are not currently being satisfied). One of the most famous types of entrepreneurship, one that has also become closely aligned with conceptualizations of entrepreneurship, is Schumpeter's "creative destruction." In Schumpeter's view, the entrepreneur is driven by innovation, which can take the form of a totally new product or process or an innovative change to existing products or processes, which ultimately "destroy," or render obsolete, products and processes that have been used in the past.

• Entrepreneurs and founders
• Innovation
• Start-ups
• Small and medium-sized enterprises