ABSTRACT
Entrepreneurship has, since the work of Schumpeter (1934), been regarded as the
engine of dynamic economic development and growth. Entrepreneurship is practised
by entrepreneurs-actors with innovative capabilities causing creative destruction on
petrified markets. These entrepreneurial actors are often described as wilful and indivi-
dualistic doers with a high degree of need for achievement, locus of control and tolerance
for ambiguity and are more willing than people in general to accept risk and uncertainty.
Due to these personal qualities, they also recognize opportunities in the contexts in which
they operate and are able to exploit them to their own benefit.
