Chapter 1: The Role and Promise of Entrepreneurship

Entrepreneurs strive to make a difference in our world and to contribute to its betterment. They identify opportunities, mobilize resources, and relentlessly execute on their visions. In this chapter, we describe how entrepreneurs act to create new enterprises. We identify firms as key structures in the economy and the role of entrepreneurship as the engine of economic growth. New technologies form the basis of many important ventures where scientists and engineers combine their technical knowledge with sound business practices to foster innovation. Entrepreneurs are the critical people at the center of all of these activities.