💡 Famous Sayings about Entrepreneurship & Innovation

💡 Joseph Schumpeter (1883–1950)

“Entrepreneur is an innovator playing the role of a dynamic businessman adding material growth to economic development”

🧠 Timmons and Spinelli (2007)

→ Entrepreneurship is a way of thinking, reasoning, and acting that is opportunity obsessed, holistic in approach, and leadership balanced.

🤝 Burton Klein (1917)

→ Entrepreneur is a marriage broker between what is desirable from an economic point of view and what is profitable from a technological point of view.

🛠️ Peter Drucker

“Innovation is the specific instrument of entrepreneurship — the act that endows resources with a new capacity to create wealth”

📈 Baumol (2002)

→ In free market economies, innovation is a necessity if a firm wants to survive.

💰 Geroski et al. (1993) and Leiponen (2000)

→ Innovating firms are more profitable than the non-innovators.

🔮 The statement — “entrepreneurship is the mother of foresights and willingness to assume risks…”

Associated with:

🧾 Richard Cantillon

• First economic theorist of entrepreneurship.

• In Essai sur la Nature du Commerce en Général (1755), defined entrepreneur as one who assumes risk and uncertainty.

• Paid known costs, earned uncertain income — emphasizing risk-bearing.

🗺️ William Diamond

• Developmental perspective on entrepreneurship.

• Linked entrepreneurship with foresight, planning, and risk-taking.

• Entrepreneurs foresee opportunities and initiate change under uncertainty.