- Elgar original reference
Edited by Kevin Hindle and Kim Klyver
Appendix: Distinguishing Entrepreneurship from New Venture Creation
We invited the authors of chapters, collectively or individually, to distinguish between entrepreneurship and new venture creation. Here are their responses. Deborah Blackman and Miguel Imas The difference between entrepreneurship and venture creation is twofold. First, there can be venture creation which is not entrepreneurial. It may be a ‘me too’ copy of an existing organization or idea which is well replicated but lacks novelty. Second, there can be entrepreneurship activity that is not venture creation as it may involve creating a new market that may not exist currently but is within current organizational activity. To a certain extent this depends upon what is meant by a venture and whether it is a new set of ideas or a new entity. Most definitions of venture imply a profit focus, but there can also be value adding for public or third sector organizations where novelty enables better service delivery. Overall entrepreneurship is the development and implementation of innovation where there is calculated and managed risk. This may be derived from or lead to new venture creation but is not synonymous with it. Alain Fayolle Entrepreneurship is a broader concept and field than that of new venture creation. Entrepreneurship includes different situations and behaviours in relation, for example, to new venture creation, franchising, corporate entrepreneurship and so on. This point of view is rooted in the conception I have of what entrepreneurship is as a research object (see Fayolle 2007, Chapters 2, 4). For me, following Bruyat and Julien (2001), ‘the scientific...
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