Gergely Németh

Illusions of Entrepreneurship / Theories of Entrepreneurial Behaviour

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


Enterprises

The entrepreneur or innovator (the two terms may even overlap in some cases, if we talk about Schumpeterian entrepreneurs), by bypassing rationality, or rather using rationality in a specific way, sees opportunities in the market and in the area of opportunity costs (Thaler, 2016; Mullainathan & Shafir, 2014; Gruber, MacMillan & Thompson, 2013; Peng & Heath, 1996). The entrepreneur believes that he or she can offer a product or service to the market at a lower transaction cost (Williamson, 2005) and with acceptable risks, for which he or she expects a group of customers to respond positively and pay in the not-too-distant future. In other words, the expected utility of the entrepreneur’s action (Expected utility theory: Von Neumann & Morgenstein, 1944) is higher than the possibility and cost of failure (sunk cost: O’Brien & Folta, 2009). This thought process was refined by Kahneman and Tversky (1979; Prosperity Theory) in their prospect theory.

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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