DANCEST 805 Lecture Notes - Lecture 16: William Baumol, Change Management, Knowledge Economy
Document Summary
Introduction of new good or new quality of good. Introduction of new method of production: opening of a new market, development of a new source of supply or raw materials or half-manufactured goods, carrying out of new organisation of any industry. The new age of uncertainty: age of change and opportunity, trend towards smaller firms, moving from industrial to knowledge economy, managing change and uncertainty, traditional change abnormal, incremental linear, new turbulent, revolutionary and incremetal, uncontrollable, non-linear. Lifestyle: entrepreneurial, gazelles, serial entrep, churning, small firms around the world, us smes are more, new firms higher dispersion of productivity in usa. Pearce 3 systems of economy: private sectors, public and government, social economy, civic entrepreneurs, more like intrapreneurs, conflicts within social enterprise, social vs commercial operations. Issues of democratic accountability: objective of social enterprise, sustainable entrepreneur, sutainability 6 dimensions. The economics of entrepreneurship: marxist theory, capitalism. Entrepreneurship and economic growth: traditional vs new, entrep.
