Schumpeter's Theory of Entrepreneurship
CMAT 2022 · Innovation & Entrepreneurship · Medium · Entrepreneurship Theory
According to Schumpeter, which of the following is the primary function of a new age entrepreneur?
- A.
Creativity
- B.
Innovation
- C.
Invention
- D.
Skill
Answer
B
Explanation
Joseph Schumpeter's theory defines the entrepreneur as an innovator who brings about 'creative destruction' by introducing new combinations of products, processes, or markets.
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