Download or read book Entrepreneurship, Management, and the Structure of Payoffs written by William J. Baumol and published by MIT Press (MA). This book was released on 1993 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: Departing from the orthodox view that imitation retards technical progress by reducing the reward to innovation, Baumol asserts that entrepreneurs can spread and speed the adoption of new technology and ideas throughout a market. By persistently looking to depart from standard practices, entrepreneurs fuel change and help keep an economy from falling into a rut. Often these changes can improve efficiency, increase production and spur growth.