Review of Studies on Entrepreneurship Development

Abstract

This paper deals with the review of literature in the field of entrepreneurship development, motivational factors and the type ofentrepreneurship emerging. According to a KPMG TIE survey conducted in 2009 " there is potential for a new corporate landscape, steered by the spirit of the Indian entrepreneur to emerge amidst the global meltdown. The entrepreneur and the state are working together to help drive and sustain the growth of the country. In India, the relationship between the State and the entrepreneur is an important factor in the success of a business "Terms such as intrapreneuring (Pinchot , 1985), corporate entrepreneurship (Burgelman, 1983, Vesper, 1984; Guth and Ginsberg, 1990; Hornsby et al., 1993, Stopford and BadenFuller, 1994 ), corporate venturing (Mac Mil Ian, 1986; Social Entrepreneurship is the art of simultaneously pursuing both a financial and a social return on investment (the "double bottom line"). Social entrepreneur: An individual who uses earned income strategies to pursue social objectives, simultaneously seeking both a financial and social return on investment (Institute for Social Entrepreneurship). National Commission on Entrepreneurship focuses on what they call entrepreneurial growth companies-small businesses that have the potential to grow rapidly, developing new technologies, products and services, creating jobs, and stimulating economic growth and investment (National Commission on Entrepreneurship 200 I). A report published by Collaborative Economics (2005) defines an entrepreneur as " an individual engaged in the process of starting and growing one's own business or idea"). Aldrich and Waldinger ( 1990) say, "Entrepreneurship, in the classic sense, is the combining ofresources in novel ways so as to create something of value" . Henderson (2002) says, " Put simply, entrepreneurship is the creation of new firm . Ultimately, entrepreneurship is the process of uncovering or developing an opportunity to create value through innovation".