108-506: Johnathan Wendel (born February 26, 1981), also known as Fatal1ty (pronounced "Fatality"), is an American entrepreneur and former professional esports player. He made his professional debut at a 1999 Cyberathlete Professional League (CPL) tournament, securing third place and $ 4,000. Wendel continued to compete in CPL events, claiming multiple championships and accumulating $ 110,000 in prize money. His success soared in subsequent years. Wendel won
216-502: A Guinness World Record event in 2008/09, and a show match in Taiwan in 2012. Throughout his career, Wendel amassed a record of $ 450,000 in prize winnings from seven different games, establishing a milestone in esports. This record remained unbroken for over six years following his retirement until it was surpassed by Lee "Jaedong" Jae-dong, a prominent StarCraft player, towards the end of 2013. Recognizing his significant contributions to
324-509: A pool hall . At the age of 13, Wendel experienced his parents' divorce. During his high school years, he actively participated in the school's tennis team. In 2006, Wendel relocated to Las Vegas , Nevada, and resided on the Las Vegas Strip as of 2014. In 2003, Jonathan Wendel gained significant exposure in mainstream media through his appearance in MTV 's documentary MTV True Life: I'm
432-675: A Gamer . The documentary chronicled Wendel's journey as he transitioned into playing Unreal Tournament 2003 and achieved victory at the 2002 CPL Winter tournament in Dallas. Wendel acknowledged the profound impact of the MTV show on his career, recognizing its ability to provide him ongoing exposure and media attention. He remarked, "For nine years MTV was re-airing my show. I constantly get exposure, media. You can't even pay for that. You'd pay millions to get that kind of advertisement for your company. I'm getting that for free every day." In January 2006, Wendel
540-658: A business owner who is affiliated with millennials (also known as Generation Y), those people born from approximately 1981 to 1996. The offspring of baby boomers and early Gen Xers , this generation was brought up using digital technology and mass media. Millennial business owners are well-equipped with knowledge of new technology and new business models and have a strong grasp of its business applications. There have been many breakthrough businesses that have come from millennial entrepreneurs, such as Mark Zuckerberg , who created Facebook. However, millennials are less likely to engage in entrepreneurship than prior generations. Some of
648-429: A college or university), science parks and non-governmental organizations, which include a range of organizations including not-for-profits, charities, foundations and business advocacy groups (e.g. Chambers of commerce ). Beginning in 2008, an annual " Global Entrepreneurship Week " event aimed at "exposing people to the benefits of entrepreneurship" and getting them to "participate in entrepreneurial-related activities"
756-406: A cultural authority and leverage it to create and sustain various cultural enterprises"; "tycoons", defined as "entrepreneurs who buil[d] substantial clout in the cultural sphere by forging synergies between their industrial, cultural, political, and philanthropic interests"; and "collective enterprises", organizations which may engage in cultural production for profit or not-for-profit purposes. In
864-447: A focus on opportunities other than profit as well as practices, processes and purpose of entrepreneurship. Gümüsay suggests a three pillars model to explain religious entrepreneurship: The pillars are the entrepreneurial, socio-economic/ethical, and religio-spiritual in the pursuit of value, values, and the metaphysical . A feminist entrepreneur is an individual who applies feminist values and approaches through entrepreneurship, with
972-566: A grand prize of $ 25,000. These victories solidified his position as one of the prominent figures in the esports industry during that era. In 2005, Wendel made a transition to playing Painkiller for the 2005 CPL World Tour, a year-long tournament series that spanned across four continents and culminated in December at the Nokia Theater in Times Square, New York. In the grand finals event, which
1080-416: A level of risk is a necessity. Fourth, the entrepreneurial process requires the organization of people and resources. An entrepreneur uses their time, energy, and resources to create value for others. They are rewarded for this effort monetarily and therefore both the consumer of the value created and the entrepreneur benefit. The entrepreneur is a factor in and the study of entrepreneurship reaches back to
1188-420: A live performances by The Sinus Show , and Tweaker , featuring Chris Vrenna , former Nine Inch Nails drummer. This year also saw another significant change in leadership, as a result of an injury to Brian Davis just weeks before the event. Aaron "Alric" Ferguson was appointed to fill in for Tapper at the last minute. QuakeCon 2005 was another large event which saw the unveiling of Quake 4 multiplayer. It
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#17328835731001296-474: A major role in the organization. Recognizing that major sponsors were needed, David Miller a.k.a. "Wino" & Paul Horoky a.k.a. "devilseye", both original QuakeCon 1996 people, contacted id Software and convinced them to become the main sponsor, and to help out with finding more sponsors. Together with Anna Kang (then id Software employee, now John Carmack 's wife) and a team of volunteers, Mr. Miller & Mr. Horoky set out to build QuakeCon 1999, which became
1404-528: A month, a much shorter timeline than prior years. The first QuakeCon to feature a Team Deathmatch tournament. It was the first event to include the Nvidia Quickdraw tournaments, which pulled random people from the BYOC area to compete for 1,000 dollars. At QuakeCon 2007, Aaron "Alric" Ferguson continued in the role of executive director for this event, which sported a 5x increase in vendor space (25,000 sq ft) over
1512-526: A new business, often similar to a small business , or (per Business Dictionary ) as the "capacity and willingness to develop, organize and manage a business venture along with any of its risks to make a profit ". The people who create these businesses are often referred to as "entrepreneurs". In the field of economics, the term entrepreneur is used for an entity that has the ability to translate inventions or technologies into products and services. In this sense, entrepreneurship describes activities on
1620-491: A period of self-employment of one or more years; one in four may have engaged in self-employment for six or more years. Participating in a new business creation is a common activity among U.S. workers over the course of their careers". In recent years, entrepreneurship has been claimed as a major driver of economic growth in both the United States and Western Europe. Entrepreneurial activities differ substantially depending on
1728-410: A price system). In this treatment, the entrepreneur was an implied but unspecified actor, consistent with the concept of the entrepreneur being the agent of x-efficiency . For Schumpeter, the entrepreneur did not bear risk : the capitalist did. Schumpeter believed that the equilibrium was imperfect. Schumpeter (1934) demonstrated that the changing environment continuously provides new information about
1836-413: A professional video game player, so he struck a deal with his father — if he failed to earn any money in his first major tournament, he would return to school. Wendel began his professional gaming career with the first-person shooter game, Quake III Arena . In October 1999, at the age of 18, he invested $ 500 to participate in a Cyberathlete Professional League (CPL) tournament held in Dallas, Texas. At
1944-404: A profitable manner. But before such a venture is actually established, the opportunity is just a venture idea. In other words, the pursued opportunity is perceptual in nature, propped by the nascent entrepreneur's personal beliefs about the feasibility of the venturing outcomes the nascent entrepreneur seeks to achieve. Its prescience and value cannot be confirmed ex ante but only gradually, in
2052-511: A recent statistical analysis of U.S. census data shows that whites are more likely than Asians, African-Americans and Latinos to be self-employed in high prestige, lucrative industries. Religious entrepreneurship refers to both the use of entrepreneurship to pursue religious ends as well as how religion impacts entrepreneurial pursuits. While religion is a central topic in society, it is largely overlooked in entrepreneurship research. The inclusion of religion may transform entrepreneurship including
2160-406: A setback when he failed to qualify for the 2002 World Cyber Games , prompting him to shift his focus to a different game: Unreal Tournament 2003 . He participated in the 2002 CPL Winter event held in Dallas, where he emerged as the champion, claiming the $ 10,000 grand prize. Another achievement in his career came in 2004 when he became the first-ever Doom 3 champion at QuakeCon 2004 , securing
2268-527: A tendency towards risk-taking that makes them more likely to exploit business opportunities . "Entrepreneur" ( / ˌ ɒ̃ t r ə p r ə ˈ n ɜːr , - ˈ nj ʊər / , UK also /- p r ɛ -/ ) is a loanword from French. The word first appeared in the French dictionary entitled Dictionnaire Universel de Commerce compiled by Jacques des Bruslons and published in 1723. Especially in Britain,
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#17328835731002376-507: A theoretical standpoint is that they have to "rewire" these temporary ventures and modify them to suit the needs of new project opportunities that emerge. A project entrepreneur who used a certain approach and team for one project may have to modify the business model or team for a subsequent project. Project entrepreneurs are exposed repeatedly to problems and tasks typical of the entrepreneurial process. Indeed, project-based entrepreneurs face two critical challenges that invariably characterize
2484-494: A variety of organizations with different sizes, aims, and beliefs. For-profit entrepreneurs typically measure performance using business metrics like profit , revenues and increases in stock prices , but social entrepreneurs are either non-profits or blend for-profit goals with generating a positive "return to society" and therefore must use different metrics. Social entrepreneurship typically attempts to further broad social, cultural, and environmental goals often associated with
2592-579: A yearly keynote speech that lasted through 2013. QuakeCon 1997 brought an estimated 650 attendees to the Holiday Inn in Plano, Texas . It was covered by numerous Internet and broadcast media outlets, and was sponsored in part by id Software and Activision. QuakeCon 1998 was held in conjunction with the Cyberathlete Professional League at Infomart in Dallas, Texas. Due to poor planning and
2700-434: Is an individual who creates and/or invests in one or more businesses, bearing most of the risks and enjoying most of the rewards. The process of setting up a business is known as "entrepreneurship". The entrepreneur is commonly seen as an innovator , a source of new ideas, goods , services, and business/or procedures. More narrow definitions have described entrepreneurship as the process of designing, launching and running
2808-423: Is largely responsible for long-term economic growth. The idea that entrepreneurship leads to economic growth is an interpretation of the residual in endogenous growth theory and as such continues to be debated in academic economics. An alternative description by Israel Kirzner (born 1930) suggests that the majority of innovations may be incremental improvements – such as the replacement of paper with plastic in
2916-509: Is the process by which either an individual or a team identifies a business opportunity and acquires and deploys the necessary resources required for its exploitation. In the early 19th century, the French economist Jean-Baptiste Say provided a broad definition of entrepreneurship, saying that it "shifts economic resources out of an area of lower and into an area of higher productivity and greater yield". Entrepreneurs create something new and unique—they change or transmute value. Regardless of
3024-505: The 2000 World Cyber Games in Seoul. In Quake III tournaments, he amassed a total of $ 110,000 in prize winnings. Wendel secured an additional of $ 25,000 from corporate sponsorships and endorsements, with support from companies such as Razer . In 2001, Wendel secured a victory in the 2001 CPL World Championship for the game Aliens vs. Predator 2 . As a result, he was awarded a custom-painted Ford Focus and $ 40,000. However, Wendel experienced
3132-516: The EFnet IRC network, in channel #quake. As various regular visitors to the channel began expressing a desire to meet and game together in person, Jim "H2H" Elson, a gamer from the Dallas area with ties to the local Dallas-area gaming community, and Yossarian "yossman" Holmberg, a computer consultant from Waterloo , Ontario , Canada, came up with the idea of assembling at a hotel. The original event name
3240-682: The German Reich . However, proof of competence was not required to start a business. In 1935 and in 1953, greater proof of competence was reintroduced ( Großer Befähigungsnachweis Kuhlenbeck ), which required craftspeople to obtain a Meister apprentice-training certificate before being permitted to set up a new business. In the Ashanti Empire , successful entrepreneurs who accumulated large wealth and men as well as distinguished themselves through heroic deeds were awarded social and political recognition by being called "Abirempon" which means big men. By
3348-667: The Midwest . It was during this time that he became acquainted with another player named Eric "Batch" Paik, and they began meeting up every weekend to play Quake . On one occasion, Wendel achieved a defeated Paik in nine or ten consecutive matches. Paik, who had recently returned from a successful tournament in London, suggested to Wendel that he should consider competing in larger-scale tournaments. Once Wendel completed high school, he resided with his father while simultaneously attending computer classes and working part-time. However, he aspired to become
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3456-423: The voluntary sector in areas such as poverty alleviation, health care and community development . At times, profit-making social enterprises may be established to support the social or cultural goals of the organization but not as an end in itself. For example, an organization that aims to provide housing and employment to the homeless may operate a restaurant, both to raise money and to provide employment for
3564-440: The "cradle of political economy". Cantillon defined the term as a person who pays a certain price for a product and resells it at an uncertain price, "making decisions about obtaining and using the resources while consequently admitting the risk of enterprise". Cantillon considered the entrepreneur to be a risk taker who deliberately allocates resources to exploit opportunities to maximize the financial return. Cantillon emphasized
3672-572: The 1930s and other Austrian economists such as Carl Menger , Ludwig von Mises and Friedrich von Hayek . According to Schumpeter, an entrepreneur is a person who is willing and able to convert a new idea or invention into a successful innovation . Entrepreneurship employs what Schumpeter called "the gale of creative destruction" to replace in whole or in part inferior innovations across markets and industries, simultaneously creating new products, including new business models . Extensions of Schumpeter's thesis about entrepreneurship have sought to describe
3780-622: The 2000s, story-telling has emerged as a field of study in cultural entrepreneurship. Some have argued that entrepreneurs should be considered "skilled cultural operators" that use stories to build legitimacy, and seize market opportunities and new capital. Others have concluded that we need to speak of a 'narrative turn' in cultural entrepreneurship research. The term "ethnic entrepreneurship" refers to self-employed business owners who belong to racial or ethnic minority groups in Europe and North America. A long tradition of academic research explores
3888-501: The 2000s, the term "entrepreneurship" has been extended to include a specific mindset resulting in entrepreneurial initiatives, e.g. in the form of social entrepreneurship , political entrepreneurship or knowledge entrepreneurship . According to Paul Reynolds, founder of the Global Entrepreneurship Monitor , "by the time they reach their retirement years, half of all working men in the United States probably have
3996-589: The 2000s, usage of the term "entrepreneurship" expanded to include how and why some individuals (or teams) identify opportunities, evaluate them as viable, and then decide to exploit them. The term has also been used to discuss how people might use these opportunities to develop new products or services, launch new firms or industries, and create wealth. The entrepreneurial process is uncertain because opportunities can only be identified after they have been exploited. Entrepreneurs exhibit positive biases towards finding new possibilities and seeing unmet market needs, and
4104-480: The 2006 event, 7,000 sq ft (650 m ). total event space, and the return of the popular "Quick Draw" tournaments for all general attendees. The second public beta of Enemy Territory: Quake Wars was released to BYOC attendees on the first day of the event. There were just two featured tournaments, both with $ 50,000 purses, and both sponsored by NVIDIA: ET:QW, and the new Quad Damage Tournament, which combined all four Quake games into one competition. The event
4212-542: The 2010s, ethnic entrepreneurship has been studied in the case of Cuban business owners in Miami, Indian motel owners of the U.S. and Chinese business owners in Chinatowns across the U.S. While entrepreneurship offers these groups many opportunities for economic advancement, self-employment and business ownership in the U.S. remain unevenly distributed along racial/ethnic lines. Despite numerous success stories of Asian entrepreneurs,
4320-660: The CPL World Championship for Aliens vs. Predator 2 in 2001. He became a world champion in Unreal Tournament 2003 after winning the 2002 CPL Winter event. Wendel's achievements extended to Doom 3 , where he became the inaugural champion at QuakeCon 2004 . In 2005, he won his fifth world title in as many video game titles, after winning the CPL World title in Painkiller , securing an unprecedented $ 150,000 prize. By
4428-704: The Esports Awards. He has also been inducted into the International Video Game Hall of Fame and the ESL Esports Hall of Fame . From a young age, Wendel immersed himself in first-person shooters (FPS), such as Doom , in the early 1990s. After finishing his regular sports activities in high school during the day, he would spend hours playing Quake online at night. Additionally, he participated in Quake sessions at LAN parties and local tournaments in
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4536-474: The Gaylord Texan Resort Hotel and Convention Center. Like the year before, Quakecon 2009 had both 1v1 and CTF tournaments for Quake Live . The notable difference with this year's tournaments was two separate 1v1 competitions, one for only pro players, and the other was open to everyone else. This was a much appreciated feature from the community because there was no longer as many blow out games in
4644-399: The advisory board of Glytch, a company specializing in esports and gaming venues. Entrepreneur Entrepreneurship is the creation or extraction of economic value in ways that generally entail beyond the minimal amount of risk (assumed by a traditional business), and potentially involving values besides simply economic ones. An entrepreneur ( French: [ɑ̃tʁəpʁənœʁ] )
4752-424: The barriers to entry for entrepreneurs are the economy, debt from schooling, and the challenges of regulatory compliance. A nascent entrepreneur is someone in the process of establishing a business venture. In this observation, the nascent entrepreneur can be seen as pursuing an opportunity , i.e. a possibility to introduce new services or products, serve new markets, or develop more efficient production methods in
4860-544: The changes and "dynamic economic equilibrium brought on by the innovating entrepreneur [were] the norm of a healthy economy". While entrepreneurship is often associated with new, small, for-profit start-ups, entrepreneurial behavior can be seen in small-, medium- and large-sized firms, new and established firms and in for-profit and not-for-profit organizations, including voluntary-sector groups, charitable organizations and government . Entrepreneurship may operate within an entrepreneurship ecosystem which often includes: In
4968-515: The collective nature of entrepreneurship. She mentions that in modern organizations, human resources need to be combined to better capture and create business opportunities. The sociologist Paul DiMaggio (1988:14) has expanded this view to say that "new institutions arise when organized actors with sufficient resources [institutional entrepreneurs] see in them an opportunity to realize interests that they value highly". The notion has been widely applied. The term "millennial entrepreneur" refers to
5076-517: The company reported royalties of approximately $ 5 million for the year 2006. His collaboration with Creative in 2006 introduced the Fatal1ty Gaming Headset, the first headset to feature a removable microphone, and this design innovation has since become a standard feature in gaming headsets. In 2017, Wendel co-founded ReadyUp, a comprehensive esports team management service aimed at both amateur and professional teams. In 2023, he joined
5184-431: The construction of a drinking straw – that require no special qualities. For Schumpeter, entrepreneurship resulted in new industries and in new combinations of currently existing inputs. Schumpeter's initial example of this was the combination of a steam engine and then current wagon-making technologies to produce the horseless carriage . In this case, the innovation (i.e. the car) was transformational but did not require
5292-553: The context of the actions that the nascent entrepreneur undertakes towards establishing the venture as described in Saras Sarasvathy 's theory of Effectuation , Ultimately, these actions can lead to a path that the nascent entrepreneur deems no longer attractive or feasible, or result in the emergence of a (viable) business. In this sense, over time, the nascent venture can move towards being discontinued or towards emerging successfully as an operating entity. The distinction between
5400-410: The creation of a new venture: locating the right opportunity to launch the project venture and assembling the most appropriate team to exploit that opportunity. Resolving the first challenge requires project-entrepreneurs to access an extensive range of information needed to seize new investment opportunities. Resolving the second challenge requires assembling a collaborative team that has to fit well with
5508-618: The dates and venue for the next QuakeCon before the current year's event was even finished. QuakeCon 2008 marked the debut of the first-ever Quake Live 1v1 and CTF tournaments. (sponsored by Intel) As well as the Activision Enemy Territory: QUAKE Wars Team Championships (featuring competitions on both PC and for the first time on Xbox 360), The Alienware Quick-Draw Challenge, and the QuakeCon Ultimate Power Up. QuakeCon 2009 returned to
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#17328835731005616-527: The demands of the consumer revolution that helped drive the Industrial Revolution in Great Britain, Josiah Wedgwood , the 18th-century potter and entrepreneur and pioneer of modern marketing, which includes devising direct mail , money back guarantees , travelling salesmen and "buy one get one free" , was named by the historian Judith Flanders as "among the greatest and most innovative retailers
5724-451: The development of dramatic new technology. It did not immediately replace the horse-drawn carriage, but in time incremental improvements reduced the cost and improved the technology, leading to the modern auto industry . Despite Schumpeter's early 20th-century contributions, traditional microeconomic theory did not formally consider the entrepreneur in its theoretical frameworks (instead of assuming that resources would find each other through
5832-535: The eighteenth and nineteenth centuries AD, the appellation "Abirempon" had formalized and politicized to embrace those who conducted trade from which the whole state benefited. The state rewarded entrepreneurs who attained such accomplishments with Mena(elephant tail) which was the "heraldic badge" In the 20th century, entrepreneurship was studied by Joseph Schumpeter in the 1930s and by other Austrian economists such as Carl Menger (1840–1921), Ludwig von Mises (1881–1973) and Friedrich von Hayek (1899–1992). While
5940-489: The end of his playing career, he had amassed an esports record of $ 450,000 in prize winnings. Although Wendel retired from professional play in 2006, he maintained involvement in the esports scene, making appearances at events and participating in exhibition matches. Wendel's contributions garnered widespread recognition, earning him accolades such as Lifetime Achievement Awards from the Leipzig Games Convention and
6048-406: The entrepreneur . These scholars tend to focus on what the entrepreneur does and what traits an entrepreneur has. This is sometimes referred to as the functionalistic approach to entrepreneurship. Others deviate from the individualistic perspective to turn the spotlight on the entrepreneurial process and immerse in the interplay between agency and context. This approach is sometimes referred to as
6156-454: The entrepreneur as a multi-tasking capitalist and observed that in the equilibrium of a completely competitive market there was no spot for "entrepreneurs" as economic-activity creators. Changes in politics and society in Russia and China in the late 20th century saw a flowering of entrepreneurial activity, producing Russian oligarchs and Chinese millionaires . In the 2000s, entrepreneurship
6264-485: The entrepreneur typically aims to scale up the company by adding employees, seeking international sales and so on, a process which is financed by venture capital and angel investments . In this way, the term "entrepreneur" may be more closely associated with the term "startup". Successful entrepreneurs have the ability to lead a business in a positive direction by proper planning, to adapt to changing environments and understand their own strengths and weaknesses. Meeting
6372-424: The eve of the last day, when the entire id Software team showed up at the event in a surprise and most-welcome visit, stopping by to chat with the participants. John Carmack , lead programmer for Doom / Quake , participated in a 30–45 min. group chat with attendees on the porch of the hotel. Some ideas discussed during that chat eventually made it into Quake's future public releases. This "Carmack's Talk" grew into
6480-400: The event, he finished in third, winning a prize of $ 4,000. The following year, in 2000, he travelled to Sweden, where he competed in his first international tournament. He finished the tournament undefeated, with a record of 18 wins and zero losses. Throughout 2000, Wendel showcased his prowess in various prominent CPL events across Europe, Asia, and the United States, culminating in a triumph at
6588-586: The exhibitor area. QuakeCon 2004 took place at the Gaylord Texan Resort Hotel and Convention Center in Texas. Yet another change of venue brought QuakeCon into the record books as the largest LAN party in North America, with over 3000 BYOC attendees. Tournaments prizes totaled over $ 150,000 and saw the world's first Official Doom 3 Tournament, won by Johnathan "Fatal1ty" Wendel . The event also had
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#17328835731006696-570: The experiences and strategies of ethnic entrepreneurs as they strive to integrate economically into mainstream U.S. or European society. Classic cases include Jewish merchants and tradespeople in both regions, South Asians in the UK, Koreans, Japanese, and Chinese in the U.S. and the Turks and North Africans in France. The fish and chip industry in the UK was initiated by Jewish entrepreneurs, with Joseph Malin opening
6804-703: The finals was Johan "Toxjq" Quick, who boasted an undefeated record in best-of-three series. Wendel became the first player to defeat Quick by winning the first match. However, Quick emerged victorious in the second match, resulting in Wendel securing the second-place position in the event. Following the WSVG Finals, Wendel made the decision to retire from professional play due to the decline of his preferred genre in gaming. While he retired from competitive play after 2006, Wendel continued to make appearances in various events. These included an exhibition match in 2007, participation in
6912-417: The firm size, big or small, it can take part in entrepreneurship opportunities. There are four criteria for becoming an entrepreneur. First, there must be opportunities or situations to recombine resources to generate profit. Second, entrepreneurship requires differences between people, such as preferential access to certain individuals or the ability to recognize information about opportunities. Third, taking on
7020-775: The first mail order business, with the BBC summing up his legacy as "The mail order pioneer who started a billion-pound industry". A 2002 survey of 58 business history professors gave the top spots in American business history to Henry Ford , followed by Bill Gates ; John D. Rockefeller ; Andrew Carnegie , and Thomas Edison . They were followed by Sam Walton ; J. P. Morgan ; Alfred P. Sloan ; Walt Disney ; Ray Kroc ; Thomas J. Watson ; Alexander Graham Bell ; Eli Whitney ; James J. Hill ; Jack Welch ; Cyrus McCormick ; David Packard ; Bill Hewlett ; Cornelius Vanderbilt ; and George Westinghouse . A 1977 survey of management scholars reported
7128-406: The first fish and chip shop in London in the 1860s, while Samuel Isaacs opened the first sit-down fish restaurant in 1896 which he expanded into a chain comprising 22 restaurants. In 1882, Jewish brothers Ralph and Albert Slazenger founded Slazenger , one of the world's oldest sport brands, which has the longest-running sporting sponsorship in providing tennis balls to Wimbledon since 1902. In
7236-463: The first-place position and an unprecedented esports cash prize of $ 150,000. This victory marked his fifth world title, each achieved in a different FPS game In 2006, Wendel shifted his focus to Quake IV . Competing in the World Series of Video Games (WSVG) Finals, which adopted a double-elimination tournament structure, Wendel advanced through the lower bracket to reach the finals. His opponent in
7344-466: The goal of improving the quality of life and well-being of girls and women. Many are doing so by creating "for women, by women" enterprises. Feminist entrepreneurs are motivated to enter commercial markets by desire to create wealth and social change, based on the ethics of cooperation, equality and mutual respect. These endeavours can have the effect of both empowerment and emancipation. The American-born British economist Edith Penrose has highlighted
7452-459: The homeless people. QuakeCon 2004 QuakeCon is a yearly convention held by ZeniMax Media to celebrate and promote the major franchises of id Software and other studios owned by ZeniMax. It includes a large, paid, bring-your-own-computer ( BYOC ) LAN party event with a competitive tournament held every year in Dallas , Texas , USA. The event, which is named after id Software's game Quake , sees thousands of gamers from all over
7560-661: The inaugural enshrinees. Wendel's contributions were further celebrated when he was inducted into the ESL Esports Hall of Fame in November 2018. In October 2020, Wendel's enduring impact on esports was once again acknowledged with a Lifetime Achievement Award from the Esports Awards. Wendel was born on February 26, 1981, in Kansas City , Missouri, to parents James and Judy Wendel. His upbringing took place in Kansas City, where his parents worked in auto factories, and his father also managed
7668-458: The inter-relationships between activities, between an activity (or sequence of activities) and an individual's motivation to form an opportunity belief, and between an activity (or sequence of activities) and the knowledge needed to form an opportunity belief. With this research, scholars will be able to begin constructing a theory of the micro-foundations of entrepreneurial action. Scholars interested in nascent entrepreneurship tend to focus less on
7776-473: The lack of people who had helped make the first two events a success, QuakeCon 1998 is regarded by many as being only partially a QuakeCon event. However, it was instrumental in motivating a group of people to start planning QuakeCon 1999 early. From 1999 to 2002, QuakeCon took place that the Mesquite Convention Center in Texas. The 1999 event was the first event in which id Software played
7884-634: The loan from French of the English-language word "entrepreneur" dates to 1762, the word "entrepreneurism" dates from 1902 and the term "entrepreneurship" also first appeared in 1902. According to Schumpeter, an entrepreneur is willing and able to convert a new idea or invention into a successful innovation . Entrepreneurship employs what Schumpeter called the "gale of creative destruction " to replace in whole or in part inferior offerings across markets and industries, simultaneously creating new products and new business models , thus creative destruction
7992-492: The majority of innovations may be much more incremental improvements such as the replacement of paper with plastic in the making of drinking straws . The exploitation of entrepreneurial opportunities may include: The economist Joseph Schumpeter (1883–1950) saw the role of the entrepreneur in the economy as " creative destruction ", Which he defined as launching innovations that simultaneously destroy old industries while ushering in new industries and approaches. For Schumpeter,
8100-435: The novice, serial and portfolio entrepreneurs is an example of behavior-based categorization. Other examples are the (related) studies by, on start-up event sequences. Nascent entrepreneurship that emphasizes the series of activities involved in new venture emergence, rather than the solitary act of exploiting an opportunity. Such research will help separate entrepreneurial action into its basic sub-activities and elucidate
8208-403: The official event announcement fueled Internet speculation that the event was actually canceled for the first time ever. It was also discussed publicly earlier in the year by id Software executives that the event had a possibility of not being held inside Texas, nearly breaking a 10-year tradition since the convention's start. The entire event was also announced, planned, and executed in little over
8316-435: The optimum allocation of resources to enhance profitability. Some individuals acquire the new information before others and recombine the resources to gain an entrepreneurial profit . Schumpeter was of the opinion that entrepreneurs shift the production-possibility curve to a higher level using innovations. Initially, economists made the first attempt to study the entrepreneurship concept in depth. Alfred Marshall viewed
8424-593: The part of both established firms and new businesses. In the 21st century the governments of nation states have tried to promote entrepreneurship, as well as enterprise culture , in the hope that it would improve or stimulate economic growth and competition . After the end of supply-side economics , entrepreneurship was supposed to boost the economy. As an academic field, entrepreneurship accommodates different schools of thought. It has been studied within disciplines such as management, economics, sociology, and economic history. Some view entrepreneurship as allocated to
8532-494: The particular challenges of the project and has to function almost immediately to reduce the risk that performance might be adversely affected. Another type of project entrepreneurship involves entrepreneurs working with business students to get analytical work done on their ideas. Social entrepreneurship is the use of the by start up companies and other entrepreneurs to develop, fund and implement solutions to social, cultural, or environmental issues. This concept may be applied to
8640-494: The physiocrats. Dating back to the time of the medieval guilds in Germany, a craftsperson required special permission to operate as an entrepreneur, the small proof of competence ( Kleiner Befähigungsnachweis ), which restricted training of apprentices to craftspeople who held a Meister certificate. This institution was introduced in 1908 after a period of so-called freedom of trade ( Gewerbefreiheit , introduced in 1871) in
8748-403: The processual approach, or the contextual turn/approach to entrepreneurship. Entrepreneurship includes the creation or extraction of economic value . It is the act of being an entrepreneur, or the owner or manager of a business enterprise who, by risk and initiative, attempts to make profits. Entrepreneurs act as managers and oversee the launch and growth of an enterprise. Entrepreneurship
8856-454: The repeated assembly or creation of temporary organizations. These are organizations that have limited lifespans which are devoted to producing a singular objective or goal and get disbanded rapidly when the project ends. Industries where project-based enterprises are widespread include: sound recording , film production, software development , television production, new media and construction. What makes project-entrepreneurs distinctive from
8964-488: The short-term. These driving characteristics allude to the presence of serial entrepreneurship in the region. It has been argued, that creative destruction is largely responsible for the dynamism of industries and long-run economic growth. The supposition that entrepreneurship leads to economic growth is an interpretation of the residual in endogenous growth theory and as such is debated in academic economics. An alternative description posited by Israel Kirzner suggests that
9072-550: The single act of opportunity exploitation and more on the series of actions in new venture emergence, Indeed, nascent entrepreneurs undertake numerous entrepreneurial activities, including actions that make their businesses more concrete to themselves and others. For instance, nascent entrepreneurs often look for and purchase facilities and equipment; seek and obtain financial backing, form legal entities , organize teams; and dedicate all their time and energy to their business Project entrepreneurs are individuals who are engaged in
9180-563: The template for later years. A change of venue allowed the convention to grow larger than it had ever been before, and, this time, just down the street from id Software headquarters in Mesquite. id Software employees, including John Carmack, participated in various tournaments with attendees on-site as well. A large number of companies sponsored the event for the first time, including Activision , AMD , Apple Computer , ATI Technologies , Logitech , Linksys , and Lucent Technologies . QuakeCon 1999
9288-535: The term "adventurer" was often used to denote the same meaning. The study of entrepreneurship reaches back to the work in the late 17th and early 18th centuries of Irish-French economist Richard Cantillon , which was foundational to classical economics . Cantillon defined the term first in his Essai sur la Nature du Commerce en Général , or Essay on the Nature of Trade in General , a book William Stanley Jevons considered
9396-662: The top five pioneers in management ideas were: Frederick Winslow Taylor ; Chester Barnard ; Frank Bunker Gilbreth Sr. ; Elton Mayo ; and Lillian Moller Gilbreth . According to Christopher Rea and Nicolai Volland, cultural entrepreneurship is "practices of individual and collective agency characterized by mobility between cultural professions and modes of cultural production", which refers to creative industry activities and sectors. In their book The Business of Culture (2015), Rea and Volland identify three types of cultural entrepreneur: "cultural personalities", defined as "individuals who buil[d] their own personal brand of creativity as
9504-419: The tournament lineup in a Team-based tournament. First unofficial Ms. QuakeCon event, first appearance of Doom III theater, also the first appearance of Mister Sinus Theater 3000 (later known as The Sinus Show, and ultimately Master Pancake Theater), an Austin, Texas-based MST3K troupe, lambasting Britney Spears ' movie Crossroads . QuakeCon 2003 took place at Adam's Mark Hotel in Dallas, Texas It
9612-458: The tournament. Marcus "djWHEAT" Graham (one of the commentators for this year's tournaments) also expressed his opinions to John Carmack from the shout casting booth saying that the separation "alleviates any hesitation or frustration" for amateur players that want a chance to compete. Quakecon 2009 was also the first Quakecon to have the shoutcasters on stage during the grand finals. QuakeCon 2010–2016 returned to Hilton Anatole. The 2012 event
9720-698: The traits of an entrepreneur using various data sets and techniques. Looking at data from the Global Entrepreneurship Monitor (GEM), entrepreneurial traits specific to the Association of Southeast Asian Nations (ASEAN) are: experience in managing or owning a business, pursuit of an opportunity while being employed, and self-employment. In the decision to establish a new business, the ASEAN entrepreneur depends especially on their own long-term mental model of their enterprise, while scanning for new opportunities in
9828-531: The type of organization and creativity involved. Entrepreneurship ranges in scale from solo, part-time projects to large-scale undertakings that involve a team and which may create many jobs. Many "high value" entrepreneurial ventures seek venture capital or angel funding ( seed money ) to raise capital for building and expanding the business. Many organizations exist to support would-be entrepreneurs, including specialized government agencies, business incubators (which may be for-profit, non-profit, or operated by
9936-540: The willingness of the entrepreneur to assume the risk and to deal with uncertainty, thus he drew attention to the function of the entrepreneur and distinguished between the function of the entrepreneur and the owner who provided the money. Jean-Baptiste Say also identified entrepreneurs as a driver for economic development, emphasizing their role as one of the collecting factors of production allocating resources from less to fields that are more productive. Both Say and Cantillon belonged to French school of thought and known as
10044-407: The work of Richard Cantillon and Adam Smith in the late 17th and early 18th centuries. However, entrepreneurship was largely ignored theoretically until the late 19th and early 20th centuries and empirically until a profound resurgence in business and economics since the late 1970s. In the 20th century, the understanding of entrepreneurship owes much to the work of economist Joseph Schumpeter in
10152-413: The world attend every year to celebrate the company's gaming dynasty. The event is highly dependent on volunteers to cover many aspects of the organization of the event. QuakeCon has historically had a reputation as the " Woodstock of gaming", and a week of "peace, love, and rockets!". The 25th QuakeCon event had been planned for August 2020 in Dallas, Texas, but due to the ongoing COVID-19 pandemic ,
10260-410: The world has ever seen". Another historian Tristram Hunt called Wedgwood a "difficult, brilliant, creative entrepreneur whose personal drive and extraordinary gifts changed the way we work and live." Victorian-era Welsh entrepreneur Pryce Pryce-Jones , who would capitalise on the railway network created during the Industrial Revolution and the modern postal system that also developed in the UK, formed
10368-525: The world of esports, Wendel was honored with the first-ever Lifetime Achievement Award at the Leipzig Games Convention in Leipzig, Germany, in August 2007. This accolade acknowledged his exceptional sportsmanship, influential role in shaping the landscape of esports, and his international recognition as a figurehead for esports. In August 2010, Wendel was inducted into the International Video Game Hall of Fame as one of
10476-430: Was Aaron Ferguson's first complete year as executive director, and the first time at QuakeCon featuring an all girl gamer tournament with major cash prizes. It was the first year of Intel's sponsorship of QuakeCon, beating out AMD. QuakeCon 2006 took place at Hilton Anatole in Texas. QuakeCon 2006 was the first time Enemy Territory: Quake Wars was playable by the general public. Longer than normal delays leading up to
10584-461: Was actually '#quakecon', named after the IRC channel, though this quickly evolved into just 'QuakeCon'. Mr. Elson organized the bulk of the event for the first two years, until the number of people attending each year demanded a more organized approach. Volunteers grouped into teams to assist in the setup, troubleshooting, and tear down of the event's equipment and network. The first event, in August 1996,
10692-523: Was also highlighted by a slew of major announcements, including id Software 's new intellectual property RAGE, a sneak peek at the "id Tech 5" engine, a February 10, 2007, release date for ET:QW, updates on the new Return to Castle Wolfenstein game title and major motion picture, the revelation that old id Software titles were to be made available via Steam, the upcoming debuts of Quake Arena Arcade, Quake Zero (now officially named Quake Live), and Quake Arena DS, also—in an unprecedented move—the announcement of
10800-405: Was also the first time Quake 3 was used in competition as the game had not yet been released to the public. 2002 saw the retirement of John Carney, and Brian Davis assumed stewardship of the event as executive director. 2002 was also the first year id assumed a very active role in the pre-event activities, with the arrival of Marty Stratton a year earlier. Added Return to Castle Wolfenstein to
10908-514: Was canceled by Bethesda Softworks and id Software on March 31, citing difficulties in planning with vendors and exhibitors at this stage. An online QuakeCon was announced in June 2020 to replace the live show in August 2020. The 2021 and 2022 events were also held online. The return to a live event took place on August 10–13, 2023 in Grapevine, Texas . QuakeCon originally grew out of a group of people on
11016-683: Was extended from its origins in for-profit businesses to include social entrepreneurship , in which business goals are sought alongside social, environmental or humanitarian goals and even the concept of the political entrepreneur . Entrepreneurship within an existing firm or large organization has been referred to as intrapreneurship and may include corporate ventures where large entities "spin-off" subsidiary organizations. Entrepreneurs are leaders willing to take risk and exercise initiative, taking advantage of market opportunities by planning, organizing and deploying resources, often by innovating to create new or improving existing products or services. In
11124-587: Was featured on the news program 60 Minutes , which delved into his professional gaming career and the global explosion of esports. In 2002, Wendel established his own company, Fatal1ty Inc., with the intention of reducing reliance on sponsorships to support his competitive gaming endeavors. Shortly after its inception, he generated $ 50,000 in sales by selling mousepads. By 2007, Wendel had forged partnerships with gaming product manufacturers such as Creative Labs , XFX , Universal Abit and Zalman , who incorporated his branding into their products. According to Wendel,
11232-492: Was held at a conference room of a La Quinta Inn in Garland , Texas. The 1,250 square foot venue hosted around 40 people. Attendees who had brought their computers along to the event set up a small, impromptu network, in one of the hotel meeting rooms, playing mostly Quake I and Doom , testing deathmatch skills. A small tournament was held, with winners taking home T-shirts as prizes. The highlight of this first gathering came on
11340-408: Was in a double-elimination tournament format, Wendel advanced to the finals after dropping to the lower bracket. There, he faced Sander "Vo0" Kaasjager , the top-ranked Painkiller player in the world. To secure victory in the tournament, Wendel had to win two best-of-three matches, since he had already lost once in the tournament. Wendel emerged triumphant by winning four consecutive games, claiming
11448-604: Was launched. The term "entrepreneur" is often conflated with the term " small business " or used interchangeably with this term. While most entrepreneurial ventures start out as a small business, not all small businesses are entrepreneurial in the strict sense of the term. Many small businesses are sole proprietor operations consisting solely of the owner—or they have a small number of employees—and many of these small businesses offer an existing product, process or service and they do not aim at growth. In contrast, entrepreneurial ventures offer an innovative product, process or service and
11556-439: Was the first change in venue since the convention moved to Mesquite, Texas , USA, 4 years prior. Tapper continued to coordinate volunteer activity, while id assumed much more of the pre-event planning through the capable hands of Marty Stratton. Ms. QuakeCon evolved into a tournament-based event with a sponsor, id unveiled Doom 3 deathmatch. The first display of the award-winning franchise called "Call of Duty" found its way into
11664-480: Was the first year to ever fill BYOC on Friday. This year marked the first year for several Executive Staff including a new executive director of Michael "TnT_Trash" Wolf. Also Oculus Rift showcase. QuakeCon 2017–2019 took place at the Gaylord Texan Convention Center in Texas, as did the 2023 event. QuakeCon 2024 took place at the same location on August 8-11. Marcel "k1llsen" Paul QuakeCon
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