The earliest definitions of entrepreneurship was “a rational decision maker who assumed the risk and provided management for the firm” by Richard Cantillion
A rational decision maker
1. As shared by the author of our text that one of the earliest definitions of entrepreneurship was “a rational decision maker who assumed the risk and provided management for the firm” by Richard Cantillion (1755), an economist. Richard Cantillion was the first to acknowledge that there is an entrepreneurial function within the economic system.
Can you explain what is a “rational decision maker” in your own words?
2. This week we started to explore the meaning of entrepreneurship and innovation. As pointed out by the author of our text that there is no universal definition of entrepreneurship. In fact, the word entrepreneurship means different things to different groups of people. For example, a business person and an anthropologist have very different views on entrepreneurship. What is entrepreneurship in your own words and from your own perspective?
3. Creativity is such a big term with no definite meaning. Do you agree with this statement? Many people believed that creativity was a mysterious concept and impossible to define in specific terms. Let’s think about this. When we say to a person “you are so creative!” What are we referring to?
4. cognition describes our ability to recognize and understand information, ideas, and concepts that are needed to form judgments. Given this statement, can we assume that cognition is the same as having a creative brain? Are there any differences? Why or why not? State your rationale.
5. Creativity and innovation will not be possible without ____________?
Please fill-in the blank with a ONE word answer and give your rationale and discuss why you believe this word is appropriate.