Entrepreneurship Development in the Urban Metropolitan Guadalajara: Growth Startups and Precursor of Innovation and Economic Development

Background Of The Problem

Entrepreneurship is an activity that has taken place for hundreds of years. However, the treatment study of entrepreneurship has had different approaches over time and has sometimes been confused and mixed definitions. In the text, the authors Griesa & Naude cite David Hart entrepreneurship defined as the process if begin, and continue the expansion of new businesses (Hart, 2003, p 5). Because of this, entrepreneurship credited as the creation of new businesses. However, as such the concept of entrepreneurship has several implications across different studies and related disciplines.

One could understand the theoretical historical development of entrepreneurship as follows, based on the theoretical review in the book “Entrepreneurship in Theory and History”. The history of entrepreneurship dates back to 300 years ago, according Pepelasis (2005) which shows a summary of the main theoretical contributions of entrepreneurship and its historical development since the beginning of the term venture. Casis (2005) summarizes the contribution of Richard Cantillon as follows: The entrepreneur is the specialist in risk taking. The entrepreneur assumes the risks caused by price fluctuations in consumer markets. Unlike employees who receive a 'safe' salary in the short run, the entrepreneurs are willing to take the risk of economic transactions (Pepelasē & Cassis 2005).

Moreover, according to Pepelasē & Cassis (2005) the author Frank Knigth redefined the contribution of Cantillon, distinguishing between the concept of risk and uncertainty. By separating these two concepts, assume that the risk can be “insured” and by blunted, however, the uncertainty is no assured.