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What is an entrepreneur（essay）
Characteristics of a successful entrepreneur empirical study
What is an entrepreneur（essay）
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In the past few years, there has a lot of attention paid to the concept of entrepreneurship; however, many still struggle to find the exact meaning of what an entrepreneur is and how he is different from other regular business-owners. This query has gotten people to come up with different definitions and studies in the search of a final answer and, even though there is still a debate for a complete designation accepted by all, now there are certain traits that are recognized by everyone as basics for being an entrepreneur.
According to free-lance writer and expert in economic issues Jeanne Holden:
“There is no one definitive profile of an entrepreneur. Successful entrepreneurs come in various ages, income levels, gender, and race. They differ in education and experience. But research indicates that most successful entrepreneurs share certain personal attributes, including: creativity, dedication, determination, flexibility, leadership, passion, self-confidence, and smarts" (Principles of Entrepreneurship).
These are the attribute every entrepreneur needs during his whole life. At ...
With Baumol (2010) stating that the term ‘entrepreneurship’ lacks a clear theoretical consensus, this dissertation begins with a holistic exploration of the topic, followed by its characteristics in female-led ventures. McAdam (2012) argues that when discussing entrepreneurial discourse (entrepreneur, entrepreneurship, enterprise) contextual sensitivities must be heeded, as the term can be influenced by industrial, geographic, and cultural dimensions. Furthermore Kerlin (2006) suggests that in the context of developing nations, entrepreneurs may not consider themselves to be entrepreneurs, either because they are unware of the topic or because no such lexicon exists in their language for this practice. Below, we explore several empirical and theoretical viewpoints to define entrepreneurship in a manner that enables valid indicators to be collected and compared across Indian and international perspectives.
“There is no one definitive profile of an entrepreneur. Successful entrepreneurs come in various ages, income levels, gender, and race. They differ in education and experience. But research indicates that most successful entrepreneurs share certain personal attributes, including: creativity, dedication, determination, flexibility, leadership, passion, self-confidence, and smarts." (Principles of Entrepreneurship)
This paper examines the myths associated with what it takes to be an entrepreneur, the profiles and the common characteristics among these successful entrepreneurs.
To accomplish establishing a bevy of good quality personal characteristics, as an industrialist, in this economy does not start with just an idea, but also includes other factors. Innovators must embrace their own ideas with 100% commitment leading with a positive mindset and following through with the drive to see said ideas become successful. One must enjoy what they are doing and have that endless strive to make it happen with clear goals in mind. There are basic elements that will be taken from the creator such as self-investment, people skills and opportunities to improve to name a few. Before one becomes an entrepreneur, one must start as a creator and invest in oneself. Having enough funding to create a business is vital and must be planned accordingly. Without a solid financial plan the business would
An Entrepreneur is a person who starts a business venture in making profits and success for his various products and services. Entrepreneurship is basically a process of allocating various types of resources such as financial, creative, managerial or technological which are very necessary in today’s world for a business venture successful. Entrepreneurship basically involves hard work, long hours and more of financial return. In the whole world societies the new products which have entered the market are introduced by entrepreneurs.
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
The entrepreneur is defined differently across many platforms they all share some commonality (Davison, 2008). This commonality consists of certain traits such as risk taking, innovative thinking, and an opportunity-seeking mindset to create, improve or expand a business (Davison, 2008). The entrepreneur functions as a promoter to the generation of wealth (Davison, 2008). The entrepreneur is important for the movement of the market and constant challenge to the status quo, indirectly improving all related business involved.
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.
The entrepreneurs plays an important role in the speeding up the process of generating wealth for the economy, generating jobs, and bringing goods and services in the market that not only satisfy their needs but also simplify the life of the people. It emerges as a very lucrative career option for school and university graduates(Kennedy, 2003). An entrepreneurial intention is considered as a conviction that particular person will perform certain behaviour. Intention towards entrepreneurship reflects the type of aptitude that initiates people to choose in support of self employment rather than opt for typical salary based employment. Over last decades entrepreneurship education has been spreading at a very high pace. Courses are being implemented in universities, secondary schools, and even primary ones. At the university level, programs are being developed
Most successful entrepreneurs are have a passion for their product or service as well as a desire to solve a problem and make life easier, better, cheaper (10 Qualities of successful entrepreneurs, 2010). Their desire to be an entrepreneur is mostly due to in internal factor rather than an external such as money.
Driven by an intense commitment and determined perseverance, entrepreneurs work very hard at what they do. They excel and want to win. Entrepreneurs are amazing people with a high respect of character. They use their mistakes as something to learn from rather than a failure. No matter the outcome, they believe in themselves and have an extreme confidence not only in themselves, but also in what they do.
Entrepreneurs exist due to consumers wanting something new and relevant, which will also make an impact in the market place. Entrepreneurship is about individuals recognizing a need for a commercial application and being able to innovate their ideas to meet the needs of the consumer (Baron & Shane, 2008). On average, there are over 1400 billionaires in the world, and of those 960 are entrepreneurs who were successful, while the rest were fortunate to inherit their wealth (Vital, 2013). If we focus on the 960 and how they made their fortune we find out they became billionaires from either a single or multiple business ventures. The majority of the 960, which equates to 830, owned more than one business, and remaining 130 managed only one company. Therefore, the most top earning entrepreneurs in the world are most likely to be serial entrepreneurs, and being very successful innovating ideas that consumers like (Vital, 2013). Entrepreneurship is essential for the global economy and the success of future growth in small and large business as they exploit the need for new services and products. The growth within entrepreneurship will also drive employment growth and hopefully stabilize the global economy by increasing wealth in the middle class.
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:
Entrepreneurship is an important aspect of social, economic and community life. It can be viewed as a critical factor to economic growth as well as a way of addressing unemployment (Nolan, 2003).Entrepreneurs are people who are persistently focused on identifying opportunities, they seek to create something worthwhile while taking into account foreseeable risk and rewards associated with the efforts (Nolan, 2003). Furthermore, entrepreneurs are frequently understood to be individuals who discover market needs and establish new business to meet those identified opportunities. The following assignment will firstly discuss the types of entrepreneurship, secondly it will discuss the reasons people become entrepreneurs, and thirdly it will discuss the importance of entrepreneurship.
To understand the role of entrepreneurship in the development of our economy one has to simply define what it means to be an entrepreneur. ‘’An entrepreneur is defined as someone who is creative and identifies an opportunity or gap in the market and evaluates the risk related to the establishment of the business and is prepared to take the associated risk to start the business in the quest for making a profit”( Business Management, a contemporary compilation 2nd edition)