Innovation through education: rediscovering the lost generation
- Authors: Pieterse, Koot
- Subjects: Business incubators , Entrepreneurship , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/20889 , vital:29411
- Description: Innovation implies the generation as well as the practical implementation of new ideas. These ideas could appear as new product opportunities, new markets or new management systems and business schools are ideally situated to promote their exploitation and implementation. This study emphasises the need for business schools to elevate innovation to one of the core values in their mission. The need for innovation in the local business environment is explored along with reasons why these opportunities have not always been pursued with the required vigour. The results of a literature study are represented, that demonstrate what initiatives on the incorporation of innovation into their activities have been taken by a selection of business schools around the world and the study is concluded by exploring similar opportunities open to the Business School of the Nelson Mandela Metropolitan University.
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The Entrepreneur as a disequilibrating factor in economic process
- Authors: Ncwadi, Mcebisi Ronney
- Subjects: Entrepreneurship , Equilibrium (Economics) , f-sa
- Language: English
- Type: text , Lectures
- Identifier: http://hdl.handle.net/10948/55844 , vital:54275
- Description: The evidence of entrepreneurship's significant contribution to economic growth and development, challenges the dominance of general equilibrium theory in microeconomics. The assumptions of the neoclassical economic model which underlies general equilibrium theory has long time been criticised; yet its consideration in policy formulation has not been dismissed despite the fact that general equilibrium theory does not incorporate entrepreneurship. The assumptions embedded in neoclassical economic theory exclude entrepreneurship as an economic variable. However, as microeconomic research finds more and more evidence confirming the importance of new business formation and growth, general equilibrium theory remains incapable of adapting to this reality. To this end general equilibrium theory produces policy prescriptions which favour mainly large, established firms over new, small firms. It is therefore no wonder that a large number of small businesses in South Africa are failing. This lecture presents the theory of the firm and also defines an entrepreneur within the context of the theory of the firm. In doing so, this lecture exposes the shortcomings of the general equilibrium theory which is used to explain entrepreneurship. Based on Schumpeter’s description of an entrepreneur, namely, a Disequilibrating factor of economic processes; this lecture demonstrates how entrepreneurship should be understood and developed within a broader scope of microeconomics discourse.
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