Abstract
The Search for Entrepreneurship presents a vivid and engaging view of the phenomenon of entrepreneurship. The consideration of Entrepreneurship as a deterministic science is deceiving. Moreover, the assumption that it is led by consistent and predictable rules is misleading and has produced more questions than answers. This book is a conscientious effort to answer many of these questions. The brief but comprehensive content of the book, with requisite justifications, helps readers to understand entrepreneurship as a concept, a research domain and as a field of business creation. The content is progressive and brings in new thoughts, questions and discussion within its context.
This book presents a holistic view of entrepreneurship. Simon Bridge has divided the book into nine chapters, guiding readers from the need to search for entrepreneurship to the consequences of entrepreneurship. The author has brought in fit perspectives from economics, history, entrepreneurship and Maslow’s hierarchy, in a frame where all the perspectives fit suitably. Economic history explains the existence of entrepreneurship. This publication makes an essential contribution towards a lucid and critical understanding of entrepreneurship.
The structure of the book is easy to understand. The author starts with an understanding that he could not find any difference between founders or entrepreneurs and existing enterprises. With the help of literature, graphs and tables, the author synthesises his opinion to explain the phenomenon of ‘why entrepreneurship?’
Bridge is of the opinion that despite the explosion of scholarship in this field, there is no accepted model of how entrepreneurship operates or even a commonly accepted definition of what it is. The book reveals that erroneous characteristics associated with the concept of entrepreneurship are explained in a logical and sequenced pattern in entrepreneurship literature. The author is of the opinion that entrepreneurship is studied as if it were a deterministic science based on the false assumption that it exists as a scientific discrete, identifiable phenomenon operating by consistent, predictable rules.
In the first chapter, the author explains the proliferation of literature and establishment of academic chairs in universities which helped in the expansion of entrepreneurship. However, expansion in research failed to produce a final definition of entrepreneurship, which widened its scope and raised more questions.
The second chapter of the book addresses the history of work and explains the thousands of years of transition of work from hunters, food gatherers, agriculture, inventions, the industrial revolution, economic expansion (colonies) and capitalism in a precise manner. These concepts have been explained to give readers a glimpse of the emergence of the concept of entrepreneurship. Limited liability companies, which helped cover financial risks, led to capitalism. This transformation led to an increase in machine production and market grabbing. The chapter provides a historical economic perspective and generates a base for the discussions regarding entrepreneurship.
Chapters three and four explain the evolution and historical perception of ‘what an entrepreneur is’ over the decades and centuries. According to the Oxford dictionary, the word ‘entrepreneur’ came into existence in 1475, first used by French economist Cantillon. Later, Schumpeter and Baumol gave their explanations of it. The most critical events in the field of entrepreneurship occurred during and after the 1930s; moreover, the first entrepreneurship course was taught in 1947. After this period, it grew extensively in research, academics, programmes, theories and definitions. The Global Entrepreneurship Monitor (GEM) was set up in 1999 as a joint project between Babson College and London Business School to conduct the world’s foremost study of entrepreneurship. The third chapter exemplifies the variety of views on entrepreneurship and on the entrepreneur. The fourth chapter explains the 10 different perceptions and definitions as well as their emergence and causes of their existence for the same.
In the fifth chapter, the author ‘revisits’ entrepreneurship by exploring the significance of entrepreneurship for opportunity exploration, firm formation and job growth. The idea of entrepreneurship as a pivot of economic growth has also been explored. This impact of entrepreneurship has led to a pursuit of entrepreneurship models by economists. Nevertheless, theoretical foundation and conceptual adherence are not plentiful, and a final definition is yet to come. The author asks ‘what if entrepreneurship is not what we have perceived it’.
The author leaves us with an important thought, ‘suppose entrepreneurship does not exist’, whereas this deterministic science of entrepreneurship has been used to promote entrepreneurship. Entrepreneurship as a field is considered to originate from the fields of Psychology, Sociology, Business History and Economics.
In this segment of the book, the author discusses how the world war and its after-effects led to economic growth becoming the key indicator of successful economies. Technology advent, the steam engine and many innovations came into existence. The growth of agriculture and scientific discoveries as well as the industrial revolution lead to wealth accumulation.
Finally, the author argues that decades have passed but researchers could not arrive at any visible, identifiable definitional unity. This condition has only aggravated confusions, misled and misdirected the opinions, as the author puts it: ‘The supposed existence of entrepreneurship has led to errors such as looking for the sources of entrepreneurial activity in the wrong place’, hence, seeing entrepreneurship as vital for economic growth instead of highlighting the role of the latter in fostering entrepreneurship. It also makes us believe that entrepreneurship is an ‘invented concept and a myth - and is very unhelpful’; therefore, we should abandon the concept and stop using the word.
As a reader, this book is easy to follow and gives insights on the different aspects of entrepreneurship. Simon Bridge states, ‘more I searched, less clear I felt what it was’. These words become clear while one progresses with the book. It gives rise to many new questions and possible directions for future research. This book is inclined towards a researcher’s interests. However, the book is recommended for students and policy makers as they shall also be benefitted from this read. It unfolds a different line of thinking in the field of entrepreneurship.