Entrepreneurship

Entrepreneurship is about starting an organization, organizing effort, and exploiting opportunities (with the phases of emergence, recognition, evaluation, and exploitation of opportunities). Small and mediumsized enterprises are the major agents of economic development and growth, adding new jobs, in contrast to most large companies. Entrepreneurial activity predicts wealth creation across nations. Entrepreneurs start new organizations and mold their organizational climate and culture. Entrepreneurial success (successful start-up, survival, firm growth) depends on the owners and may be a more useful (and a more objective) performance outcome variable than the supervisor ratings typically used in industrial/organizational psychology. Industrial/organizational psychology should, therefore, do more research on entrepreneurship