Robber Baron and Russian Manager: Curious Cognates

Smith, Howard R.
November 1967
Columbia Journal of World Business;Nov/Dec67, Vol. 2 Issue 6, p73
Academic Journal
It is the organizing operating method of introducing change into an economy. A definition so framed has several uses. It is essentially neutral as between private and public enterprise systems. It focuses attention on economic development, which is the context in which entrepreneurship has been most studied. Third, it is sufficiently limited to be manageable, while at the same time it homes in on an aspect of the entrepreneurial phenomenon widely agreed to be especially crucial. One concept immediately suggests itself. Because the larger community must somehow absorb whatever entrepreneurs are doing to for, and in it is essential that the changes introduced be broadly acceptable. There is, in other words, a public-interest dimension of entrepreneurship. Specialists usually define achievement as an interaction among three key factors. The individual must have drives, needs, and aspirations capable of sustaining a high level of energy output. He must receive rewards payoffs adequate to keep this inner engine at work. And, those rewards must be geared to a particular kind of wanted behavior so that the high level of released energy will be properly channeled. Within this larger framework, several details seem also to fall into place.


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