Now in its fifth edition, Understanding Enterprise has established itself as one of the most widely respected guides to the discipline, providing a refreshingly perceptive approach to understanding and applying theory. It offers a critical introduction to enterprise in its broadest context, with particular emphasis on its application to entrepreneurs and small business. Divided into three parts, the course examines traditional approaches, new perspectives on the subject, and the success-or otherwise-of government policy. Written by leading experts with a combined wealth of research, teaching and consulting experience, this textbook will be an essential companion for undergraduate and postgraduate students of enterprise and small business. Policy makers and practitioners will also benefit from this comprehensive guide.New to this Edition:- Extensively revised to take into account the latest thinking and research, with updated content and examples throughout- Updated coverage of the impact and failings of comparative government policies- Enhanced pedagogical features to engage students and enliven their learning experience