How can one differentiate an entrepreneurial firm from any other type of firm?

Answer 1

This paper sets out definitions of the entrepreneur, entrepreneurship and entrepreneurial activity for the purpose of supporting the development of related indicators. The paper recognises the long history in this area and the contention and differences that have existed, and that continue to exist, between academics who have confronted this issue over the last two centuries. As such it deliberately adopts a more pragmatic approach based on two principles - relevance and measurability - resulting in definitions that are developed from both a bottom-up and top-down approach. Importantly the definitions emphasise the dynamic nature of entrepreneurial activity and focus attention on action rather than intentions or supply/demand conditions. The paper concludes with a simple taxonomy of entrepreneurial activity based on the value created and

captured by the entrepreneur.