Peter Klein defines the term entrepreneur from the Austrian economic tradition perspective; he believes entrepreneurship is an economic function that plays a particular role in society, mainly that of making decisions on how resources will be used and also producing the things people want. Klein also discusses the elements that hinder and stymie the entrepreneurial process, mentioning a possible way to solve the problem. Furthermore, he points out the importance of experimenting in different activities with various lines of business and learning from failure. He closes explaining why the entrepreneur is considered a hero and what the benefits of entrepreneurship are.
The Entrepreneur as a Hero Peter Klein
Business School Building, EN-601 Universidad Francisco Marroquín Guatemala, September 6, 2011
A New Media - UFM production. Guatemala, September 2011 Camera: Jorge Samayoa; digital editing: Claudia de Obregón; index and synopsis: Sara Sánchez; content reviser: Sofía Díaz; publication: Daphne Ortiz, Sofía Díaz
This work is licensed under a Creative Commons 3.0 License Este trabajo ha sido registrado con una licencia Creative Commons 3.0
Peter Klein is researcher on economics of organization, entrepreneurship and corporate strategy. He is Associate Professor of Applied Social Sciences and Director of the McQuinn Center for Entrepreneurial Leadership at the University of Missouri. Klein holds a BA in Economics from the University of North Carolina, Chapel Hill and a PhD in Economics from the University of California, Berkeley.