Masrenny Masri

  The concept of entrepreneurship is multifaceted. There are varied, diverse, and somewhat contradictory sets of definitions of the term. As a way out of the definitional dilemma, this article aims to explain the economic perspective on entrepreneurship. The economic perspective rests on certain economic variables which include innovation, risk-bearing, and resource mobilization. Innovation/Creativity In this approach, entrepreneurs are individuals who carry out new combinations of productive resources. The key ingredient, the carrying out of new combinations (or innovation) distinguishes entrepreneurs from non-entrepreneurs. While new venture creation appears as the most prevalent form of entrepreneurship, there exist other forms. Entrepreneurship also involves the initiation of changes in the form of subsequent expansion in the number of goods produced, and in the existing form or structure of organizational relationships. In the entrepreneurship literature, some scholars have qu...