Entrepreneurship, Adaptation and Legitimation: A Macro-Behavioral Perspective
Journal of Economic Behavior and Organization, Vol. 8, pp. 175-189, 1987
15 Pages Posted: 21 Jul 2009
Date Written: April 1986
Societal patterns often lag behind the constantly changing environment. Entrepreneurs, by seeking new ways of doing business, enhance societal adaptation towards the changing environment. This process of destroying old patterns and replacing them with new ones is usually not revolutionary, but instead involves the accumulation of numerous small adjustments. Entrepreneurship is thus studied as a societal function, not individual attributes. The degree of change entrepreneurs bring about in any particular society reflects the extent which entrepreneurship is legitimated in that society.
Keywords: society, entrepreneurship, environment, adjustments
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