Richard Cantillon (1755) is widely credited as the first to use the term "entrepreneur" in an economic sense, defining them as individuals who buy at a known price and sell at an uncertain price.

Schumpeter introduced "Creative Destruction," stating that entrepreneurs are innovators who disrupt the market by creating new products, methods, or markets that replace old ones.

While Schumpeter sees the entrepreneur as a "disruptor" of equilibrium, Kirzner sees them as an "equilibrator" who notices gaps or "price discrepancies" others have missed.

Knight argued that entrepreneurs earn profit by bearing "unmeasurable uncertainty," which is different from "risk" (which can be calculated or insured against).

It suggests that certain geographic regions act as lead markets where local innovations eventually become global standards.

David McClelland proposed that entrepreneurs have a high "Need for Achievement," preferring tasks where they can take personal responsibility and get feedback.

Proposed by Julian Rotter, it suggests that entrepreneurs believe they have control over their own destiny (Internal Locus) rather than being victims of fate (External Locus).

Research suggests that traits like hyper-focus, impulsivity, and high energy—common in ADHD—can be highly beneficial in high-uncertainty startup environments.

It examines how Machiavellianism, Narcissism, and Psychopathy can sometimes manifest as ruthless efficiency or extreme risk-taking in founders.

Weber argued that religious values (hard work, frugality, and the belief that wealth is a sign of divine favor) provided the spark for modern capitalism.

It suggests that people on the outskirts of society (minorities, immigrants) are more likely to be entrepreneurs because they have less to lose and are more willing to try new things.

Social capital refers to the networks of relationships (trust, resources) that allow entrepreneurs to gain access to information and funding.

It focuses on "Effectual Logic" (starting with what you have) vs. "Causal Logic" (starting with a goal). It includes the "Bird in Hand" and "Lemonade" principles.

Based on the work of Baker & Nelson, it is the process of making do with whatever resources are at hand to create a new solution.

RBV suggests that firms gain competitive advantage by possessing resources that are Valuable, Rare, Inimitable, and Organized (VRIO).

The pursuit of social goals while using business methods to remain sustainable.

Creating new market space (uncontested) rather than competing in existing "red" oceans.

Focusing on the Triple Bottom Line: People, Planet, and Profit.

Focuses on gender-specific challenges like access to finance and work-life balance social norms.

A theory based on Build-Measure-Learn loops and validated learning.