An Institutional Perspective
Chapter 1: An Institutional Perspective on Entrepreneurship in International Business
1. An institutional perspective on entrepreneurship in international business To undertake such new things is diﬃcult and constitutes a distinct economic function, ﬁrst, because they lie outside of the routine tasks which everybody understands and, secondly, because the environment resists in many ways that vary, according to social conditions, from simple refusal either to ﬁnance or to buy a new thing, to physical attack on the man who tries to produce it. To act with conﬁdence beyond the range of familiar beacons and to overcome that resistance requires aptitudes that are present in only a small fraction of the population and that deﬁne the entrepreneurial type as well as the entrepreneurial function. This function does not essentially consist in either inventing anything or otherwise creating the conditions which the enterprise exploits. It consists in getting things done. (Joseph Schumpeter, 1942: 132) INTRODUCTION Entrepreneurship is a well-known and well-studied phenomenon today. Since the inception of the term entreprendre in French in the Middle Ages when it was translated as ‘between-taker or go between’ (Hisrich, 1990: 209; see also Hébert and Link, 1988), entrepreneurship has received continuous and enormous attention in both scholarly and policy circles. Why then do we need another book on the topic? More speciﬁcally, why is a book on entrepreneurship that takes place across borders useful? Consider a businessperson who is confronted with a saturated market in the home country, or another businessperson who stumbles upon an opportunity to expand into foreign markets....
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