Different key aspects of entrepreneurship were identified over time and, as a result, the concept has been evolving significantly. The understanding of entrepreneurship expanded from the capacity to generate value (as highlighted by Jean-Baptiste Say in the 19th century) to a process that can occur within any social-economic context (Thornton, 1999).
The time line below represents the identification of relevant aspects of entrepreneurship over time.
Based on the figure, entrepreneurship skills can be applied in many different settings, beyond business creation. These different settings and contexts will be covered in the next lesson.