![]() Arguably, clearer boundaries provided through definitional clarity would promote more coherent and efficacious education programmes. One of the benefits that definitional clarity offers entrepreneurship education is the establishment of discipline boundaries, demarcating what entrepreneurship is and, importantly, what it is not. Interestingly, however, there is a lack of continuity in the programmes that are offered across these institutions ( Bennett, 2006 Brush et al., 2003). The demand for entrepreneurship education has been increasing for the previous two decades ( AACSB, 2017 Charney and Libecap, 2003). Two broad domains in which this impact may be seen are education and research – however, given the scope of entrepreneurship, we acknowledge that the domains of impact are likely ubiquitous. The conjecture of Shane's (2012) remarks implies that a lack of clarity surrounding the definition of entrepreneurship has impacted on the advancement of the field in some respects. Instead of hashing it out, the field has largely adopted if the field is to advance, we need to do a better job of deciding on our definition of entrepreneurship” ( Shane, 2012, p. This is captured by an author of one of most prominent definitions of entrepreneurship within the field today ( Shane and Venkataraman, 2000), stating that “ the field has taken a problematic approach to dealing with this unresolved definitional debate. Low, 2001), others have motivated a continued discourse as a means of advancing the field ( Baker and Welter, 2017 Shane, 2012 Welter et al., 2017). Whilst some scholars have lamented the attention that the definition of entrepreneurship has received in the literature (e.g. ![]() This definitional diversity has been well documented to date ( Audretsch et al., 2015 Alegre et al., 2017 Bacq and Jansen, 2011 Bruyat and Julian, 2001 Dato-on and Kalakay, 2016 Moroz and Hindle, 2011), including the impact this diversity has on what is included and excluded within the entrepreneurship domain ( Howorth et al., 2005). The full terms of this licence may be seen at Įxtant definitions of entrepreneurship variously relate to opportunity pursuit, business creation, uncertainty, profit-seeking and more, reflecting the myriad perspectives that exist within the entrepreneurship field and beyond ( Bennett, 2006 Gartner, 1990). Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. This article is published under the Creative Commons Attribution (CC BY 4.0) licence. The higher profile partners primarily identify areas or specific businesses to invest in, approve deals (whether they be investments or exits), occasionally sit on the board of portfolio companies, and generally represent their VC firms.Copyright © 2021, Sam Prince, Stephen Chapman and Peter Cassey License Principals are on a “partner track” that depends on the returns they can generate from the deals they make. ![]() Principals are also in charge of identifying investment opportunities for VC firms and negotiating terms for both acquisition and exit. They usually serve on the boards of portfolio companies and ensure that they operate without major hiccups. Although they do not make key decisions, associates may introduce promising companies to the firm's upper management. They also work with the companies in a firm’s portfolio. They tend to do more analytical work, analyzing business models, industry trends, and sectors. These individuals usually come to VC firms with experience in either business consulting or finance, and sometimes, degrees in business.
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