True or False: According to Joseph Schumpeter, small firms are likely to have better-developed complementary activities such as marketing or financial planning that enable them to be more effective innovators than larger firms.

Question

Parker Joyce

Business

12 June, 16:57

True or False: According to Joseph Schumpeter, small firms are likely to have better-developed complementary activities such as marketing or financial planning that enable them to be more effective innovators than larger firms.

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Lacey Bauer · Answer 1

False

Explanation:

Schumpeter is the father of entrepreneurship because he developed the term and specially entrepreneurial spirit or "Unternehmergeist". He believed that entrepreneurs were responsible for economic progress and really gave a lot of credit to the small business. But his theory on entrepreneurship was not based on marketing or financial planning, but on disruptive technologies. He would have probably enjoyed meeting Steve Jobs and others.