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1. Main principles of entrepreneurship

The principles of entrepreneurship are presented following a brief review of the concept of
entrepreneurship. This subsection concludes on implications for the design of curricula/
programmes in Entrepreneurship.

1.1. The notion of Entrepreneurship

Various universities and training programmes in entrepreneurship have contributed to developing
the notion of entrepreneurship and understanding the field of entrepreneurship in their research
and by the design of their curricula and courses. At international level (which is also trans societal
and expert), the Organization for Economic Co-operation and Development (OECD) contributed
to the definition, development and ‘institutionalization’ of the notion, giving it key place in its
research program and publications. The notion adapts to a dynamic environment.

Classical academic definitions

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Schumpeter, in the first half of 20 century, develops the classical notion of entrepreneurship,
defined as the entrepreneur-innovator who implements entrepreneurial change of markets. The
entrepreneurial change has 5 manifestations: 1) the introduction of new/ improved goods; 2) the
introduction of new production methods; 3) the opening of new markets; 4) the exploitation of
new supply sources; and 5) the re-engineering of business management processes.

Key contributions to the definition of the notion are given in the table below.

(The table can be used as a Handout)

The entrepreneur is the innovator who implements change within markets through the carrying out
of new combinations. These can take several forms:
the introduction of a new good or quality thereof,
the introduction of a new method of production,
the opening of a new market,
the conquest of a new source of supply of new materials or parts, and
the carrying out of the new organisation of any industry. (Schumpeter, 1934)

Entrepreneurs are „pro-jectors‟. (Defoe, 1887)

Entrepreneurial activity involves identifying opportunities within the economic system. (Penrose,
1959/1980)

Project 2019-1-BG01-KA204_062299
The content of this material does not necessary reflect the official position of the European Union.