So how would you define entrepreneurship? Do we need an expanded definition of what it means? Boston’s Bason College thinks we do.
More than 100,000 people around the world have engaged in a crowd-sourcing effort to extend the dictionary definition of the word ‘entrepreneurship.’
Through Babson College’s ‘redefining entrepreneurship’ campaign, visitors from all 50 states and 147 countries have engaged with Babson’s recently launched digital hub, define.babson.edu.
More than 2,000 text and multimedia definitions of the word entrepreneurship have been posted and shared through the hub, including those submitted by Boston Mayor Thomas M. Menino, iconic footwear designer Ruthie Davis, Apple evangelist and Garage.com founder, Guy Kawasaki, President and CEO of the Nike Foundation, Maria Eitel, and former U.S. Department of State advisor Steven Koltai.
Outside of the U.S., the countries with the greatest visitors include India, the United Kingdom, the Philippines, Mexico, Canada, Bulgaria, Brazil,Germany, Chile and China.
More than 2,000 definitions posted to date
Launched by Babson College in January 2012, the campaign is helping to extend the definition of entrepreneurship in order to help shape how the world views and values entrepreneurs of all kinds. Through define.babson.edu, the community-at-large can post and share their definitions and access information about the entrepreneurial experience.
With more than 2,000 definitions posted to date, it’s clear there is no limit to the ways entrepreneurship can be defined,” said Babson’s chief marketing officer, Sarah L. Sykora.
“The word ‘entrepreneurship’ means much more than just starting a business. Entrepreneurial Thought and Action® is being applied in many contexts, from large corporations to social causes, and by people of all ages, ethnicities and socio-economic backgrounds.
The overwhelming response signals to us that, regardless of the words they use to define it, people recognize entrepreneurship as a powerful force for solving the economic, social and environmental issues confronting our world.”
The definition of the week on the Babson site is from Raphel (Undergraduate Student, Kailua, HI):
“Identifying solutions to create economic or social value, and creativly pursuing those opportunities.”
One we liked particularly was from Taylor, an undergraduate student from Harkness, NY. He said it is ”Entrpreneurship is seeing the painting on a blank canvas; creating something out of nothing, in the simple hope that it will bring change for the good of humanity.”
One we see as especially accurate is from Madhukarreddy, a first generation entrepreneur from India, who wrote, “Entrepreneurship is imagining unmet need and inspried to fulfil that need.” We have profiled hundreds of startups, and the ones that saw a legitimate business need and came up with a solution have by far been the most successful.
As Babson continues to crowd-source definitions, the College also will begin incorporating select definitions into its fully integrated branding campaign, which includes print, digital, outdoor and radio components. The campaign was conceptualized and executed in partnership with Connelly Partners, a leading full service advertising agency in Boston.
