What Is Israel M. Kirzner’s Theory of Adjustment?

What Is Israel M. Kirzner's Theory of Adjustment?

Advertisement     Israel M. kirzner’s theory of Adjustment:                          Kirzner, the noted economist, has coined the theory of adjustment of price. According to him, the essential entrepreneurial element is the alertness to information rather than its possession alone. He contends that those entrepreneurs who have the superior telescopic...

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What Is Kunkal’s Theory of Entrepreneurship Supply?

What Is Kunkal's Theory of Entrepreneurship Supply?

    Kunkal’s theory of Entrepreneurship Supply:                   John H. Kunkal advocated the theory of entrepreneurship supply. According to him, psychological & sociological variables are the main determinants for the emergence of entrepreneurs. He contemplated that entrepreneurial talent can be found in minorities, religious, ethnic, migrated, displaced elites &...

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What Is The Impact of Need For Achievement Theory?

What Is The Impact of Need For Achievement Theory?

      The following analysis can reveal the impact of need for achievement in accelerating entrepreneurial urge among individuals   Twin characteristics of entrepreneurship: McClelland pointed out the twin important characteristics of entreprenerurship that govern the economic behavior of a person to become entrepreneurial. They are; Doing things...

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What Is David McClelland’s Theory of Achievement Motivation?

What Is David McClelland’s Theory of Achievement Motivation?

    David McClelland’s Theory of Achievement Motivation:                   In the late 1940s David McCelland & his associates developed the theory of achievement motivation, which was regarded as one of the best economic theories of entrepreneurial development. They concentrated mainly on following three aspects; Need for achievement. Need for...

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What Is Schumpeter’s Theory of Innovation?

What Is Schumpeter's Theory of Innovation?

    Schumpter’s theory of Innovation:               Schumpeter’s theory of entrepreneurship is a pioneering work of economic development. Development, in this sense, implies that carrying out of new combinations of entrepreneurship is basically a creative activity. According to Schumpeter, an entrepreneur is one who perceives the opportunities to innovate,...

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What Is The Two Factor Theory of 1950s?

What Is The Two Factor Theory of 1950s?

    Fredrick Herzberg developed the two factor theory in 1950’s. (i) Hygiene factors Hygiene factors are necessary to prevent dissatisfactions.. Hygiene factors may include : * Wages, salaries, * Interpersonal relations. * Job Security. (ii) Motivational factors Motivational factors mean those factors which would induce employees to work...

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What Is The Meaning of Environmental Theory?

What Is The Meaning of Environmental Theory?

  Environmental Theory Darwin’s the of natural selection has been popularized by the phrase “survival the fittest”. Retail institutions are economic entities and retailers confront an environment which is made up of customers, competitors and changing technology. This environment can alter the profitability of a single retail state as...

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