Modern Theories of Entrepreneurship

The goal of studying this subject is to enable students to become familiar with the new scientific paradigm of modern entrepreneurship, to master the key principles of modern entrepreneurship theory, principles of innovativeness, creativity and modern methods of reaching business ideas. In doing so special attention will be paid to specific forms of entrepreneurship: technological entrepreneurship, leadership entrepreneurship, female entrepreneurship, rural entrepreneurship, youth entrepreneurship, etc. Students will learn new entrepreneurial strategies: strategies for the use of the new entry, management of innovation and exponential growth, new approach and creation of internal and external resources for growth and development of entrepreneurial organizations, etc. New insights will be opened into the prospects for the development of entrepreneurship and into necessary future studies of entrepreneurship because there is a need for redesigning research in this field because of its exceptional dynamism and uncertainty in development. Additional goal of studying this subject is that students learn how to create a completely new economic value in scientific research, economic, administrative and other organizations by respecting the principles of modern entrepreneurship theories.

Adoption of new theories and new theoretical approaches on modern entrepreneurship is expected result as well as the acquisition of skills of their creative application. This involves acquiring knowledge about the principles, processes and general and specific solutions for starting the research and implementation of future entrepreneurial ventures. Students are trained to identify the key issues in the field of modern entrepreneurship and for the individual or team response in the direction of their innovative solving. Also, it is expected that students adopt new scientific terminology, as well as to be motivated and interested in entrepreneurship as a promising area for scientific research on its current and future development.

The subject teaches about specifics of the scientific research methodology in the field of entrepreneurship and analyzes contributions of theorists of modern entrepreneurial thinking: Hisrich, D.R; Acs Z.; Houken, P.; Hamel, G.; Kelly, K., and others. It analyzes the modern principles of creativity and innovativeness, methods of generating business ideas, identifying opportunities, business forecasting models, internet entrepreneurship, and perspectives of future development of entrepreneurship.

Forms of teaching are lectures, exercises, independent seminar papers under the mentorship of teachers and experts, regular consultations and e-consultation, discussions of practical cases.

Study research pre-exam paper and taking final oral exam.

Sautet, F.E. (2000). An Enterpreneurial Theory of the Firm. Foundations of Market Economy. London and New York: Routledge. Vukmirović, N. (2012). Entrepreneurship in Economic Theory and Practice. Banja Luka: Faculty of Economics, University of Banja Luka. Hisrich R. D., Peters P.M. and Shepherd D.A. (2011). Entrepreneurship. Zagreb: Mate. Acs, J.Z., Audrettsch, F.D. and Strom J.R. (2009). Entrepreneurship, Growth and Public Policy. Cambridge: University Press.