Understanding the Mechanics of Entrepreneurship

©iStock/JLco - Julia Amaral

Derek Lidow, a Princeton professor and former corporate executive says:  "Forget the myth of the hermetic genius working in the garage on the next world-changing startup. It’s time to upgrade that thinking and pay more attention to how much entrepreneurial innovation is woven into the fabric of daily life."

Lidow is the author of The Entrepreneurs: The Relentless Quest for Value, which analyzes the factors that give rise to entrepreneurs—and, in turn, the important social changes brought about by their innovations. In a nod to the thinking of the political economist Joseph Schumpeter, Lidow writes that entrepreneurship is “a vastly underappreciated, potent force of social change.”

Read on to understand the mechanics of [global] entrepreneurship.