Date Added: Jun 2009
Entrepreneurship has been characterised as one of the most intriguing but equally elusive concepts in economics. This paper first surveys its major intellectual roots and then proposes a modular concept of entrepreneurship that preserves essential distinctions along its behavioural, functional, and occupational dimensions. It argues that the behavioural definition identifies the only attribute that is both comprehensive and unique to the nature of entrepreneurship, while the functional and occupational definitions add the specifity required for many analytical purposes. To validate the concept, the paper discusses the appropriate empirical units of observation and maps a general policy framework.