ASPECT WORKSHOP Language of Entrepreneurship in Social Science

Global Entrepreneurship Monitor (GEM) data - UK  The typical early-stage entrepreneur is male, aged 39, has a university degree, and is from a middle to higher income household. He is likely to be motivated by opportunity, rather than necessity, and is more likely to be working in a consumer- oriented business.

Entrepreneurship and Outcomes  Wealth creation is a (if not the) fundamental goal of entrepreneurial efforts.  Growing a profit-oriented business as a key characteristic of entrepreneurship and the primary outcome of entrepreneurial processes.  However, this understanding overshadows the understanding of what entrepreneurship is and what it does.  Entrepreneurs not only create new venture and contribute to wealth generation but they also transform or bring new states influencing economic, social, institutional, and cultural environments.

Entrepreneurship as a Social Change  Entrepreneurship is a socio-economic process.  Entrepreneurship is not only concerned primarily an economic activity with potential social impact, but rather as a “social change activity” open to a variety of possible positive, neutral, and negative outcomes (Calas et al. 2009).  Entrepreneuring as a part of society and entrepreneurship as a fundamentally a process of social change.  This diverts our attention away from economic value to other wider non-economic values that entrepreneurship can generate.  This also opens avenues for different forms of entrepreneurship created for social, environmental and cultural values and created by diverse group of people, such as women, young, marginalised population, and ethnic entrepreneurs.

References  Calás, M., Smircich, L., & Bourne, K. (2009) Extending the Boundaries: Reframing "Entrepreneurship as Social Change" through Feminist Perspectives. The Academy of Management Review, 34(3), 552-569. Retrieved November 13, 2020  Korsgaard S, Anderson AR. Enacting entrepreneurship as social value creation. International Small Business Journal. 2011;29(2):135-151.  Rindova, V., Barry, D. and Ketchen, D.J. (2009) Entrepreneurship as emancipation”, Academy of Management Review, 34:3, 477-491