ENTREPRENEURSHIP AND COMPANY: AN APPROXIMATION FROM THE AUSTRIAN SCHOOL

Abstract

This article provides a theoretical review of the categories Entrepreneurship and Company following the approach of the Austrian School, which has a major influence on management studies in our current capitalist society. It provides a description of entrepreneurship, businessman, entrepreneur, and company aiming at making a case for possible research studies in administration that provide a theoretical foundation for creating new companies and strengthening businesses worldwide. It also emphasizes the economic theory of companies presented by Cantillon and continued by Menger, Schumpeter, Hayek, Mises, and Kirzner. These two last authors have made a transition from the economic notion of businessman towards organizational economy with a holistic vision, incorporating social and psychological elements in its development.