Gergely Németh

Illusions of Entrepreneurship / Theories of Entrepreneurial Behaviour

How do we think about ourselves as entrepreneurs and how do we develop our business?

The entrepreneurs in their natural environment, the economy

Entrepreneurs are not the most efficient agent in the development of economic systems (Cipolla, 1981:120; cited in Wennecker & Thurik, 1999), but they are a necessary precondition for the survival of these systems. One of the great recent debates in economics has been the question of the extent to which the market can be circumvented, i.e., whether there is a free lunch. According to the Efficient Market Hypothesis, everyone makes rational decisions and only the “right” prices appear on the market (Barberis & Thaler, 2003; Thaler, 2016; Peng & Heath, 1996). However, as we can see, there have always been entrepreneurs who presumably did not read these theories and always found an even more optimal (truer) price (or optimal price modifying factor) or a reason to start their activities. Now we are not talking about whether this is an actual finding, or whether they have just self-servingly started to distort the facts and turn them in their own favour. In another reading, the entrepreneur has no more attractive alternative option than starting and running a business in terms of costs or time, writes the eminent Hungarian-born American Tibor Scitovsky (1990).

Illusions of Entrepreneurship / Theories of Entrepreneurial Behaviour

Tartalomjegyzék

Kiadó: Akadémiai Kiadó

Online megjelenés éve: 2022

ISBN: 978 963 454 839 3

In his book Gergely Németh is right to not promise a sure-fire solution to successful entrepreneurship, but he does make you think about the opportunities and pitfalls. The great advantage of the work is that it uses multiple scientific and logical approaches. It is a true interdisciplinary work. In addition to its diversity, it provides a good, readable reflection on becoming an entrepreneur. The author gently strips away illusions about the process but remains optimistic throughout. It is an important Hungarian work in entrepreneurship literature.

Prof. Dr. Balázs Heidrich

The author concludes by inviting the reader to join him in thinking differently about business and entrepreneurs. Drawing on his conclusions from the literature and empirical research to date, and from his two decades of experience as a consultant, he creates a new model of the entrepreneurial process, in which he explains the stages of the entrepreneurial process along four dimensions and suggests what entrepreneurial competences and behaviors are needed at each stage of the process, even in uncertain times, to ensure that the business can function safely.

A lot of work has gone into writing this book and the author sets out sometimes provocative findings, as well a novel approach and conclusions. These differ in many ways from the general approach and may inspire many educators, researchers, and even entrepreneurs and managers to look at corporate operations from a new perspective and to apply the author’s suggestions in a preventive way in their future work.

Prof. Dr. Erzsébet Noszkay

Hivatkozás: https://mersz.hu/nemeth-illusions-of-entrepreneurship-theories-of-entrepreneurial-behaviour//

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