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Public Sector EntrepreneurshipU.S. Technology and Innovation Policy$
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Dennis Patrick Leyden and Albert N. Link

Print publication date: 2015

Print ISBN-13: 9780199313853

Published to Oxford Scholarship Online: December 2014

DOI: 10.1093/acprof:oso/9780199313853.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 18 September 2021

Toward a Theory of Public Sector Entrepreneurship

Toward a Theory of Public Sector Entrepreneurship

(p.43) 3 Toward a Theory of Public Sector Entrepreneurship
Public Sector Entrepreneurship

Dennis Patrick Leyden

Albert N. Link

Oxford University Press

This chapter outlines a general theory of entrepreneurship and applies that theory to elucidate the fundamental characteristics of public sector entrepreneurship. To develop this theory, the chapter builds on the book’s initial characterization of the entrepreneur in Chapter 1 as one who perceives an opportunity heretofore unexploited and acts on that opportunity. That process of opportunity recognition and exploitation, which can take place in both the private and public sectors, is the essence of what is meant by innovation, and the willingness to engage in an innovation process necessarily means that the entrepreneur must be willing to bear the inherent uncertainty that necessarily arises from the risk that characterizes the innovation process. The chapter illustrates the theory graphically.

Keywords:   entrepreneurship, opportunity recognition, innovation, networks, risk, uncertainty

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