Based on Zhara et al., (1999) different scholars use different expressions to explain entrepreneurship (e.g., Entrepreneurship, Corporate Entrepreneurship, Intrapreneurship, Entrepreneurship Posture, Entrepreneurial Orientation), but resistant to the number of expressions accustomed to describe entrepreneurship, there’s consistency regarding entrepreneurship’s definition and measurement.
In most cases, entrepreneurship based research usually concentrate on either Traits or Behavior. Because the nineties, behavior underlie most entrepreneurship’s research, the primary reason behind this can be a limited success of scholars to strengthen the presence of common traits that characterize entrepreneurs (Smart and Conant, 1994). Gartner (1988) argues the focus ought to be on “exactly what the entrepreneur does” and never “who’s the entrepreneur”. Behavior based research concentrate on the entrepreneurship process with the entrepreneur activities, that rather of talking about personal specific traits (Smart and Conant, 1994). Behavior based entrepreneurship’s scientific studies are usually conducted at entrepreneur level nevertheless, scholars declare that entrepreneurship is implemented in the firm level too (Carland et. al., 1984 Naman and Slevin, 1993 Lumpkin and Dess, 1996 Wiklund, 1999).
This short article attempts to set up a common base for defining firm level entrepreneurship. Naman and Slevin (1993) claims that organization could be characterised and measured in line with the degree of entrepreneurship demonstrate through the firm’s management. Based on Covin and Slevin (1986), top managers at entrepreneurship’s firm possess an entrepreneurship type of management, which modify the firm’s proper decisions and management philosophy.
To be able to establish definition for that firm level entrepreneurship, it’s important to provide the options of management behavior utilized by scholars for instance. Schumpeter (1934) claims that innovativeness may be the only entrepreneurship behavior that separates between entrepreneurship’s activities to non-entrepreneurship’s activities. Innovation pertains to the pursuit after creative solutions with the development and improvement of products and services in addition to administrative and technological techniques (Davis et al., 1991). Innovation reflects the firm’s inclination to aid new ideas and operations, which could finish as new services or products Lumpkin and Dess (1996).
In the book “Essai sur la Nature Commerce en General”, Richard Cantillon (1755) argues the essence of entrepreneurship is really a risk-taking behavior. Based on Lumpkin and Dess (1996), risk-taking can vary from relatively “safe” risk as deposit money towards the bank to quite dangerous actions like purchasing untested technologies or launching cool product towards the market. Within their research, Miller and Friesen (1982) define an entrepreneurial type of innovativeness, this model regards firm that innovate audacity and frequently while taking substantial risks within their strategy.
Third dimension, which may be put into innovation and risk-taking, is Positive. Based on Davis et al., (1991) positive associates by having an aggressive posture, relatively to competitors, while attempting to achieve firm’s objectives by all rational needed means. Lumpkin and Dess (2001) point out that positive connect with how a firm associates to business possibilities through purchase of initiatives on the market it’s be employed in.