Classical Theories

What are the classical (old) theories about entrepreneurship?
Before 1900

The Great Man Theory of Entrepreneurship
The theory is one of the oldest theories about entrepreneurship based on the idea that a few great men are born with the ability to effectuate great change in the world.

Weber's Theory of Entrepreneurship
This theory looks to the different types of incentives of different religions to explain varying rates of entrepreneurial entry.

Machiavellian Theory of Entrepreneurship
The theory was written for medieval institutional conditions and resorts to unethical behaviors in order to win.

Cantillon Theory of Entrepreneurship
He was the first or among the first writers to use the word entrepreneur to distinguish individuals who bear uncertainty for a chance at a return.

Between 1900 and 1950

Birth Order Theory of Entrepreneurship
The idea that one’s birth order could affect their propensity toward entrepreneurship.

Creative Destruction Theory of Entrepreneurship
The notion that entrepreneurs pursue new possibilities through the destruction of old certainties.

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