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Entrepreneurship Theories

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2.1.1 Definitions and backgrounds of Entrepreneurship
Dorin and Alexandru(2014:446-449)(content) claimed that in accordance to Schumpeter’s Theory, entrepreneurship could involve any of the following actions. Exordium of new techniques for the process of production, new product, differentiating the supply of inputs, market opportunity or innovating an institution in existing industry. Another theory by Von Hayek, Practical knowledge contributes in entrepreneurship as it enables the entrepreneurs to read the people and cultures. Peter Drunker theory argued by saying that a main driver for entrepreneurship is the chance or opportunity regardless resources on hand which may act as a block for managers. While Ronald Burt theory stated that a network …show more content…

The main concern of traditional entrepreneurship is financial outcome.
2.1.2.2 Social Entrepreneurship
According to Greblikaite (2012:212) social entrepreneurship could be described as a business that aims to help in solving social problems. Social entrepreneurship is not only concerned with financial outcome but also with social impact.Shaw and Carter (2007:418) A creative way in dealing with unmet socio-economic essential wants could be known as social entreprenership.

Social entrpreneurship could be in private organization or public entity. For example, entrepreneurship can take place in charities, voluntary and non profit sector or in enhancing education, work and culture Shaw and Carter (2007:419). Real example took place in Scottish Councile for Voluntary Organizations by hiring indivuals for 73,00 fulltime job supported by 1.2 million volunteers. According to Shaw and Carter (2007:420) The Social Entrepreneurship Intiative categorized social firms into one of three: assisting people in opening their private firms, using resources to tackle social need, provide traing and employment …show more content…

Other is Jean Baptist Say who wrote that entrepreneur is a person who can change inferior productivity to a superior productivity give the same inputs. Supporting Say's, Swedberg defined entrepreneur as vehicle of change. Eijdenberg and Masurel (2013:23) add that an entrepreneur could be one or more who opens new firm and is paying salary for one or more workers.

2.1.3.1 Characteristics of Entrepreneur
Dorin and Alexandru (2014:447) claim that according to Swedberg entrepreneur is targeting achievements, having authority and pleasure of self creating. Eijdenberg and Masurel (2013:26) support Dorin and Alexandru (2014:447) by stating that entrepreneur seeks independence, hungry for achievements and self-efficacy. However, Greblikaite (2012:213) adds that an entrepreneur is potential learner, risk taker, full of enthusiasm, seeking experience and able to solve problematic circumstances which was also supported by (content 12 p180)

2.1.3.2 Motives of

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