Entrepreneurship is more celebrated, studied, and desirable than ever. Business school students flock to courses on entrepreneurship. Managers, fearful of losing their step on the corporate ladder, yearn to step off on their own. Policymakers pin their hopes for job creation and economic growth on start-ups rather than on the once-preeminent corporate giants. Belief in […]
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Entrepreneurship is more celebrated, studied, and desirable than ever. Business school students flock to courses on entrepreneurship. Managers, fearful of losing their step on the corporate ladder, yearn to step off on their own. Policymakers pin their hopes for job creation and economic growth on start-ups rather than on the once-preeminent corporate giants.
A version of this article appeared in the November–December 1992 issue of Harvard Business Review.
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AB Amar Bhidé is the Thomas Schmidheiny Professor at the Fletcher School at Tufts University in Somerville and Medford, Massachusetts, and a visiting professor at Harvard Business School in Boston, Massachusetts. He is a member of the Council on Foreign Relations, a founding member of the Center on Capitalism and Society, and the author of A Call for Judgment: Sensible Finance for a Dynamic Economy (Oxford, 2010). A former senior engagement manager at McKinsey & Company and proprietary trader at E.F. Hutton, Bhidé also served on the staff of the Brady Commission, which investigated the 1987 stock market crash.
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Read more on Entrepreneurial financing or related topics Entrepreneurship, Venture capital and Start-ups