ASSESSMENT 3, Interview an Entrepreneur
Entrepreneurship
The word entrepreneur was derived to describe the people who “take on risk” or “undertake” a task such as starting a new venture. Entrepreneurship is defined as the process by which individuals pursue opportunities without regard to resources they currently control. The real meaning of entrepreneurship is identifying opportunities and putting useful idea in to practice. Entrepreneurship requires creativity, drive, and willingness to take risks. Entrepreneurship is also known as self employment.
The best entrepreneurs do carve up a collection of characteristics, from persistence to the ability to tolerate risk, that are crucial to a successful venture. The following are the major characteristics that are found in an entrepreneur.
- Motivation to perform
Keeping in mind the end goal to run an effective business, an ambitious person must be eager for triumph – much the same as players and specialists. Indications of great inspiration incorporate attributes, for example,
• Initiative
• Perseverance
• Responsibility
• High self-esteem
Entrepreneurship is a showcase for you. It takes resolution, responsibility and desire to succeed. Numerous entrepreneurs respect money related benefit from the business as evidence of particular victory, not as an objective in itself.
- Innovation
At work, entrepreneurs continually confront circumstances and tests to which they must discover an answer through another working system or method for advancement. Keeping in mind the end goal to succeed, a business visionary must have the capacity to respond creatively and do things in eccentric ways.
You can discover the development needed all hands on deck movement by, for example, designat...
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- What is entrepreneurship? definition and meaning. 2014. What is entrepreneurship? definition and meaning. [ONLINE] Available at:http://www.businessdictionary.com/definition/entrepreneurship.html. [Accessed 05 April 2014].
- What is a Social Entrepreneur? | Ashoka - Innovators for the Public. 2014.What is a Social Entrepreneur? | Ashoka - Innovators for the Public. [ONLINE] Available at: https://www.ashoka.org/social_entrepreneur. [Accessed 05 April 2014].
The study will cover about the personal qualities of entrepreneurs worldwide, in particular, successful entrepreneur qualities and ways to nurture them.
There has been a large amount of attention paid to the subject of entrepreneurship in the last few years; mainly because most people have chosen to go from working for somebody else, to be their own bosses and work for their dreams. Nevertheless, many still wonder what is entrepreneurship and what is that sets entrepreneurs apart from other regular business owners. At first, it seems both concepts do not differ much from each other since they both start up and run businesses and assume risks to pursue opportunities; however, there are certain traits that difference them.
person is going through some following stages to be entrepreneur are crystallized idea from executable project then they should search abut the project and how to implement it to achieve comment goals . So entrepreneur is a person who is not genius , but he con transform a man his thoughts and dreams , no matter how difficult the fact. ALSO, they have talent and abilities and skills through which they can detect good opportunity to be profitable venture and triest to measure the necessary resources to turn this opportunity into reality teal is characterized by leading business group of person qualities are they desire to achieve their dream and ability to solve the risk to achieve their goal .Moreover , entrepreneur is the owner of one or more projects succeeded in expanding the range of goods and services or work in more then one activity , they should make plan to increase capital and labor required other resources . The most important qualities of entrepreneur such as , solve the challenges and anticipate future opportunities . ALSO , implementation of plan . IF there any new ideas search for them even they are far fetoned and work to achieve them
Dictionary.com defines an entrepreneur as “a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk.”(Dictionary.com) Entrepreneurs are people who see opportunities in everyday situations. Entrepreneurs discover opportunities in areas others do not. Entrepreneurs additionally envision the possibilities the future brings that others do not recognize. Similarly, Dictionary.com did a good job in defining what an entrepreneur is. Again, dictionary.com describes an entrepreneur as “a person who organizes and manages “any” enterprise, especially a business, usually with considerable Initiative and risk.” (Dictionary.com). An entrepreneur recognizes “any” need, and satiates it. There are many variables that influence my personal decisions on entrepreneurial opportunities. Some of these are opportunity recognition, information processing, and entrepreneurial risk propensity.
"Entrepreneurship is the ability to create and build something from practically nothing" (Timmons 1). Entrepreneurs should be admired more than anything for
The analytical framework above reveals the personality attributes that make an individual become an entrepreneur and the attributes are illustrated from conception to the end process. It is made up of a combination of entrepreneurial theories that allude to the psychological traits of an individual. A variety of entrepreneurial theories will be used to explain the framework. Conception of the personality attribute of an entrepreneur is the will to establish a kingdom, followed by the need for achievement, then internal locus of control closely followed by non-conformist and finally the culmination of all the personality attributes lead to an entrepreneur.
Entrepreneur are employees who work in business in an entrepreneurial capacity, creating innovative new products and processes for organization. “Entrepreneurs are “dreamers who do”, those who take hands-on responsibility for creating innovation of any kind within an organization.” -Gifford Pinchot The entrepreneur is an essential ingredient in every innovation. -Dr. William Souder, 2003
As noted above, despite the existence of capital contributes a crucial role to entrepreneur career choice, the gap between would be and actual self-employment depends on specific personality characteristics that individuals possess. According to Schumpeter who is the first economist research on entrepreneurship, new business creators are leader, innovative, autonomy, ingenuity, willing to conquer constraints (Schumpeter, 1934). In addition, when discussing about psychology of entrepreneurs, McCelland denoted the sets of entrepreneurial personality such as high need for achievement, moderate risk-taking propensity, willingness to have responsibility for success or failure and preference for energetic and/or novel activity (McClelland, 1961).
When faced with the word “Entrepreneurship”, most people would think of ‘opening a business’, ‘innovation’, ‘new discovery’, ‘new idea’, ‘being your own boss’ and so on. We have heard these words so frequently that we automatically confine the entire concept of Entrepreneurship into these keywords. However, Entrepreneurship is not solely about them. Entrepreneurship is a broad concept and different people—experts, lecturers, entrepreneurs themselves—may come up with their own definition.
Entrepreneurship - a special kind of activity. Its constant conditions are limited resources, competition and uncertainty of the situation. The main tools of the entrepreneur are: thrift, cooperation and innovation. Consequently, enterprise is the independent economic entity, with rights of a legal entity, which is based on the use of labor collective property produces and sells products, works, and provides services.
The success of a business is greatly dependent on its entrepreneur. An entrepreneur is someone who takes the financial risk of starting and managing a new business venture. In order to be a successful entrepreneur, one must be ready to take a risk and invest one’s own savings into a business. The job requires that the individual be ambitious and committed to working hard in order to achieve the set targets. A successful entrepreneur is able to multi-task and communicates effectively with people, possessing leadership qualities such as confidence and motivation. The individual must play the role of constant motivator and inspire employees to improve their work performance, whilst ensuring a comfortable environment for the employees to work in. According to Schumpeter (1982), an entrepreneur is more of a ‘heroic’ than an ‘economic’ figure; his motivation should not solely be monetary, rather stemming more from inspiration and ambition.
Entrepreneurship is a key driver of our economy, wealth and the majority of jobs are created through entrepreneurship, and it also helps and educates people in terms of growth and realizing opportunities (Nolan, 2003). Entrepreneurship is also seen as one of the important contributing factor to local development (Nolan, 2003).
Successful entrepreneurs have a clear image of what they want their future to be like. They hold a clear picture of the direction the company should take and have a clear plan of how they will make their vision a reality (9 essential traits of successful entrepreneurs, 2013)
Entrepreneur's should have a strong drive to successes and overcome obstacles. Confidence and strong will are must. An entrepreneur should be sharp and always think of ways to run their business flexibly .Another important quality of a successful entrepreneur is being adaptable to
Being a student of success you will find there are varying traits but consistent ones, that lean toward success. It is your personality, your inner drive that will make you successful. Once you identify those traits, your journey as an entrepreneur will lead to success. Here now is THE list. See what you have and what you will need to acquire to achieve: