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Entrepreneurship and Innovation: An Economic Approach
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Comments/Reviews
Description: This is a groundbreaking economic analysis of entrepreneurship and the development process for innovation. The author strives to distinguish the role of the capitalist from that of an entrepreneur, and to show how the actions of the entrepreneur impact new employment, economic growth, and advancements in the overall standard of living.
The book provides in-depth discussion of several critical concepts: the economic development of a product; Schumpeter's "temporary monopoly control"; the economic bounds of product and process innovations; and changing production functions. It also develops and integrates an analysis of how innovation-induced modifications in either products or processes affect both short-run and long-run average costs in production. As a special feature, each chapter includes an interview with a successful entrepreneur, and suggested readings are also provided.
Selected Contents:
List of Tables and Figures
Acknowledgments
1. Introduction and Overview
The Transformation of Human Activity
A Brief Economic History of Entrepreneurship in America
A Brief Outline of the Remaining Chapters
Entrepreneurial Biography 1: Robert Walker
2. Capatalism and Entrepreneurship: Economic Differences
The Use of the Term "Entrepreneurship" in Economics
Evaluating Risk
Risk of the Capitalist and Risk of the Entrepreneur
Entrepreneurial Biography 2: Barbara Houghteling
3. Entrepreneurship and Innovation
Schumpetarian Analysis of Innovation
Evolutionary and Revolutionary Innovations
Characteristics of the Entrepreneur
Entrepreneurial Biography 3: Maurice McDaniel
4. Economic Development of a Product
In Search of a Product: Research, Development, Demonstration and Commercialization
The Role of Research and Development
Assuring the Success of Marketable Products
Entrepreneurial Biography 4: Troy McWhinney
5. Innovations in Products
Temporary Monopoly Control
Competitors and Reverse Engineering
The Need to Discover New Input Suppliers
Attaining and Maintaining Temporary Monopoly Control
Entrepreneurial Biography 5: Gordon Hannaford
6. Innovations in Process
Standardizing the Product and Streamlining the Production Process
Input Changes in the Production Process
Moving from the Batch to the Flow Process
Entrepreneurial Biography 6: Tim Galloway
7. Integration of Product and Process Innovations
Stages of Integration
Timeline for Product and Process Innovations
Economies of Scale, Economies of Scope and Economies of Integration
Entrepreneurial Biography 7: Tom O'Gorman
8. Technology and Economics: A Multidisciplinary Approach to Innovations
Implementing Technology into Innovations Using Management and Economics
Technology and Innovations Used to Reduce Time Lags in the Development of Marketable Products
Examples of Technology Used to Develop Better and Cheaper Products
Entrepreneurial Biography 8: George Lundeen
9. Microeconomics and Innovations
Changing the Production Function
Bringing About New Products and New Markets
Changing Economic Theory to Incorporate the Entrepreneur and Innovations
Entrepreneurial Biography 9: Linda Ligon
10. Economic Sources of Innovations
User-Led Innovations
Producer-Led Innovations
Government Research and Development for Innovations
Entrepreneurial Biography 10: Chuck Freitag
11. The Entrepreneur in the American Economy
Summary and Conclusions
Entrepreneurial Biography 11: John Freeman
Suggested Readings
Index
Comment(s): "This is a great book on entrepreneurship for academicians and practitioners. Professor McDaniel develops the basic concepts and tools of analysis and then goes to length to apply them to a variety of cases. The book is well organized and easy to read. It can be used as an undergraduate text and it can be used by an aspiring entrepreneur." -- Wali I. Mondal, Ph.D., Lead Faculty Economics and Director of Research, School of Business, University of Redlands, and President, American Society of Business
Review(s): ... interviews alone make this book valuable to researchers in entrepreneurship. Recommended for academic collections, upper-division undergraduate and up. Choice
    
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