The word entrepreneur is derived from the French word “Entreprendre”, which is loosely translated to English as, to mean, to do something or to undertake. Therefore, entrepreneur defined as someone who undertakes a business venture. The first academic to use the word was the economist Richard Cantillon in 1730; Cantillon adds a risk taker element into the definition. The basic definition of an entrepreneur is a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk (dictionary.com, 2014). However, Scholars did not come up with a single definition for the word entrepreneur. Dan Martin argues on his online blog about the definition of the word entrepreneur as follows; an entrepreneur is a person who sees an opportunity which others do not fully recognise, to meet unsatisfied demand or to improve the performance of the existing business (Martin, 2010).
The economist Joseph Schumpeter argues that, an entrepreneur is a person who demolishes the existing economic order by bringing in novel products and services, by making new forms of organization, or by exploiting new raw materials (D. Bygrave & Zacharakis, 2010). The economist Jean Baptiste say, used the term Entrepreneur to refer to an individual who create value in an economy by moving resources from areas of low productivity into areas with higher yield and (Dees, 1998).
3. What is it that makes the entrepreneur? And who is an entrepreneur?
John Stanworth, Celia Stanworth, Bill Granger and Stephanie Blyth, tried to define who becomes an entrepreneur from a psychological point of view. In their argument, they grouped the motivation to be an entrepreneur into different psychological groups. In the psychological mo...
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...e.co.uk/: http://www.businesszone.co.uk/blogs/dan-martin/dan-martin-editor039s-blog/what-entrepreneur-brilliant-definition
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Allen, K. R. (2012). Launching New Ventures: An Entrepreneurial Approach. 6th Ed. Mason, OH: Cengage Learning.
Entrepreneur is someone who had an idea then made the idea real and then made some money off of it. Today the world has many entrepreneurs many of whom have made millions of dollars in their one little idea. Who is one of these people with a big idea is Joy Mangano creator of the miracle mop. Joy has made millions and has made some other very important ideas not just miracle mop. Joy even had a movie made about her life which starred Jennifer Lawrence playing Joy.
An entrepreneur is a person who is a special talent for searching out and taking advantage of new business opportunities, as well as developing new products in a new way of doing
Hisrich, R.D. and Peters, M.P., (2004) Entrepreneurship, Fifth Edition – International Edition, McGraw-Hill Higher Education
Carland, J. Hoy, F., Boulton, W., & Carland, J. (1984). Differentiating entrepreneurs from small business owners: A conceptualization. Academy of Management Review, 9(2), 354-359.
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.
Entrepreneurship is the capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit. Sounds complicated, right? Well, it can be. As a teenager I dreamed of working for myself, changing the world, giving people jobs and being my own boss. It all sounded so easy, but the reality is it isn’t. In The E-Myth Revisited, Michael E. Gerber explains why people have confused what being an entrepreneur consist of and he guides you can be a successful business owner. Gerber does this by giving us an in depth understanding of the what, whys and how’s. In this paper I will give a short but informative summary on Gerber’s points.
Entrepreneurship, this is an important role which is the creativity and innovation organization describe that entrepreneur that the ability to start from a small business with under a list of conditions of hazard or risk and unpredictable (1). Entrepreneurship was defined as that it is one of the process that entrepreneur will go and chase after any chances that they can get without considering any resources that they are controlling right now, example like capital, assets or funds as well (2). Well, definition of entrepreneurship this word also can become more directly and openly. Entrepreneurship, are also a process that can turn any ideas into the business no matter the ideas are brilliant, creative, typical or even just an ordinary idea. As long the entire concept is capable of making the business become successful or growing more and fast (3).
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.
"Entrepreneurs who start and build new businesses are more celebrated than studied. They embody, in the popular imagination and in the eyes of some scholars, the virtues of "boldness, ingenuity, leadership, persistence and determination." Policymakers see them as a crucial source of employment and productivity growth. Yet our systematic knowledge of how entrepreneurs start and grow their businesses is limited. The activity does not occupy a prominent place in the study of business and economics.
Entrepreneurship incorporates unconstrained imagination and a readiness to settle on choices without strong information. The entrepreneur may be driven by a need to make something new or assemble something unmistakable. As new ventures have low achievement rates, the business person should have impressive tirelessness. Because of this, the entrepreneur may have the best risk of achievement by concentrating on a business sector corner either too little or too new to have been commanded by built up organizations.
Many people dream of becoming entrepreneurs someday. But it made me realize that there other factors that needs to be taken into consideration. We need to ask ourselves are we ready to take the challenge to the outside world. Not everyone have the vision, innovation and creativity to become an entrepreneur. The individual must have a positive attitude and accept the responsibility, have discipline to meet their goals, and take action when the opportunity presents itself. Many prefer a job security and rely on a weekly paycheck, while entrepreneurs will take risks and doesn 't have that luxury to know the amount of their income.
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.
An entrepreneur is someone with the capacity to lead a business to success and is willing to take the risks in order to accomplish their goals. (Dollonger, 2002). Starting a new business is an example of entrepreneurship. Entrepreneurs are very important in order for any business to succeed, however, only some entrepreneurs will succeed in life. Here are some of the characteristics of successful entrepreneurs.
The word entrepreneur was originally employed in the Middle Ages and signified “a person who is active, who gets things done” (Swedberg, 2000, p.11) “Entrepreneurship is a complex concept, which many scholars in the field of economy, sociology, psychology and sciences have tried to define. Despite all efforts, no consensus has been reached regarding the boundaries of the definition of entrepreneurship. However, many scholars agree that the field of entrepreneurship positively influences on a country’s economy” Bendixen and Migliorini (2006). According to Kjeldsen and Nielsen (2000) creating new enterprises constitute the base for “maintaining a country’s international competitive power, economic development, employment, and standard of living”. A contemporary definition from the Cambridge on-line 5 dictionary defines the term of entrepreneur as “a person who attempts to make a profit by starting their own company or by operating alone in the business world, especially when it involves taking risks”. From Baumol’s (1990) point of view entrepreneurs are “persons who are ingenious and creative in finding ways that add to their own wealth, power and