Entrepreneurship: What Is It? Why Does It Matter? How to Do It?

Professor Annaleena Parhankangaas
School of Management, NJIT


In most industries, newcomers are creating much of the new wealth. For instance, CISCO, Amazon.com, America Online did not exist a generation ago. Twenty years ago, Nokia was not a leading telecommunications company it was producing mainly cables, rubber products and soft tissue paper. These cases are not unique. New firms enter to the markets threatening the position of established firms. Technologies and markets change rapidly in turbulent industries, while more stable industries become easily saturated. That is why promoting start-up and corporate is crucial for regions, nations and individual organizations. This presentation will explore the paradoxes, challenges and potential of entrepreneurship, especially in technology-driven industries.