Entreprenurs and International Entrepreneurship

Study of entrepreneur and entrepreneurship within the economy is Entrepreneurial Economics. Not only factors or inputs are important for economic growth, it also requires human creativity and fruitful entrepreneurship to make them useful. There is a need of an environment that promotes free entrepreneurship for the sake economic growth. Earlier entrepreneurship in the field of economics was ignored and if it remains the same then economy would continue to fail because economy wants innovation, new projects, new industries and sectors and that can be achieved by high level of entrepreneurship.
Traditional tools of economics cannot analyze entrepreneurship, e.g. Equilibrium model. In case of this particular model, Joseph Schumpeter and Israel Kirzner entrepreneurship do not bear equilibrium. As per earlier thinkers, Max Weber suggested that some religious belief systems do not support entrepreneurship but has a direct relation between ethics and economic system whereas sociologist K Samuelson said there doesn't exist relation between the two.
Study conducted in India concluded set of characteristics of successful entrepreneurs that are cross-culturally valid and considered them important and linked them with the form of socialization in the society. A third group of thinkers says that entrepreneurship predicted by economists cannot be developed in a country where production factors are highly mobile, all have knowledge about all possibilities.
A fourth school of thought give importance to operational skills along with market opportunities to run a business.
As a whole common characteristics are identification and perception of economic opportunity, technical, organizational and behavioral skills, managerial competence, and motivation.
According to Schumpeter, entrepreneur is a risk bearer, innovator and a coordinator cum manager. Sociological approach suggests that some social classes will work to fill the void and be more entrepreneurial whereas economic approach suggests that entrepreneurs identify and fill market gaps.
According to Drucker, an entrepreneur is the one who seek for opportunities, looks for change and exploit them. Another type of innovator is the intrapreneur, who bears less risk because they work in an existing organization.
Coase believes that Entrepreneurial economics challenges fundamental principles, using insights from models and theories in the natural sciences.
Social entrepreneur A social entrepreneur is a person who works for the society and address the issues of the society in order to improve, maintain and change the social, environmental, educational and economic conditions. Social entrepreneur is motivated by a desire to help rather than by the desire for profit. Key traits and characteristics of effective social entrepreneurs include ambition and lack of acceptance of the status quo (not accepting the existing position of affairs or not accepting the world "as it is"). To handle global problems social entrepreneur seek to develop innovative to global problems.
Social entrepreneurs create social value through the improvement of goods and services offered to the community. Their main aim is to help others and to offer a better service in order to improve the welfare of the society and is run as nonprofit schemes. Zahra et al. said that âEURoesocial entrepreneurs make major and varied contributions to their communities and societies, adopting business models to offer creative solutions to complex and persistent social problemsâEUR