CHAPTER 4

Pathways to Entrepreneurship in the Academe

J. Mark Munoz

Introduction

Originating from the French term entreprendre meaning to undertake, the term entrepreneurship has evolved to mean the practice of organizing and managing an enterprise under risk and uncertainty.

Perspectives associated with the term point out to a terminology detached from the traditional notion of the academe. It has been defined as the pursuit of opportunity beyond resources controlled (Stevenson et al., 1989); engine of growth (Audretsch, 2009); and driver of innovation, competitiveness, economic performance, and advancement (Schumpeter, 1934; Smelstor, 2007; Van Praag & Versloot, 2007). It is also associated with risk propensity (Brockhaus, 1980).

Entrepreneurship ...

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