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Essay on entrepreneurship as a career choice
Entrepreneurship as a career essay
Importance of entrepreneurship
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Entrepreneurs are a very, or perhaps the most, important boost in our economy. They do not only take the risk for the sake of a business, but also they provide our economy with employment opportunities and culture. A society can only be prosperous only when it rewards and encourages entrepreneurial activity because in fact, it is the entrepreneurs and their activities that are the critical factor for success, prosperity, growth and opportunity in any given economy. Entrepreneurship is not easy and it comes with its own risks and up and downs. On the last decade, entrepreneurship has rose and expanded, with this change and constant expansion, it has changed the rules of entrepreneurship once again. But I certainly believe that entrepreneurship doesn’t necessarily require all entrepreneurs to have the same level of education, perhaps they don’t need to be geniuses or have an active idea in order to make or change business. Instead, like any other entrepreneur, they need to have simple goals and objectives. Apparently, universities have a hard time understanding that teaching students with real life experiences are more valuable rather than just preparing them with a twist version of business administration. But in this article, I will define the real meaning, values, and characteristics of an entrepreneur.
The Entrepreneur
I used to believe that almost every adult in the country would be familiarized with the meaning and values of an entrepreneur; however, I was just assuming. Whenever I have the chance to ask anyone about entrepreneurship, they immediately assume that entrepreneurship is just about being a business owner. I sometimes get disappointed with their answers but they may be right at some point. Our entrepreneurial acti...
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...ulum in many top universities. This research would come up handy if I need more evidence for the teachability dilemma evidence.
Praag, Mirjam Van, and Peter H. Versloot. "Small Business Economics." What Is the Value of Entrepreneurship? A Review of Recent Research 24.4 (2007): 351-82. JSTOR. Web. 14 Oct. 2013.
➢ Mirjam and Peter, both entrepreneurs and teachers at University of Amsterdam, examines the extent evidences that support their claim of why entrepreneurship has important value in both economically and individually level. Both authors’ biases seemed to be against their claims and arguments at first but then they introduced more evidence and made their point and main argument clear and credible. I would use this article to further prove my claim that entrepreneurs have values. This is a good research for those looking to understand the values of an entrepren
... their money to turn a profit. Being an entrepreneur and starting a business does not mean that the person knows what they are doing, and most of the time they are just defending their ideas until they ultimately fail. They spend most of their time in the business and not on the business, and in return if they do not realize this they will fail as well. By being an entrepreneur, it can be easy if you follow all the guidelines listed in this book, and there will be success in any business which has been started. For some entrepreneurs their minds are consumed by their ideas, without wanting to listen to others, failure will be in the imminent future. Therefore after reading this book it is evident that an entrepreneur must follow these concepts and processes in order to overcome this problem among entrepreneurs in society, and by doing so they will achieve success.
The characteristics discussed in the article is important to possess in order to be entrepreneurial.
Hisrich, R.D. and Peters, M.P., (2004) Entrepreneurship, Fifth Edition – International Edition, McGraw-Hill Higher Education
I understood some common myths about entrepreneurs. They are said to be born, not made, outgoing energetics and gamblers motivated only by money. To deny the myth, we got introduced to businesses companies such as Tree Planet which aims to solve a social problem and benefit the community. In addition, I got to understand the difference between Exploration(Creative Thinkers) and Exploitation(Financial Managers).I got to know the ways for identifying opportunities such as observing a trend going on, solving a problem and finding gaps in the market (being a pioneer to others).
The study will cover about the personal qualities of entrepreneurs worldwide, in particular, successful entrepreneur qualities and ways to nurture them.
Did you know entrepreneurs average “about 18 percent of the workforce—an average of 16.3 million jobs per year—per our calculations from the Business Dynamics Statistics” (Decker, et al., (2014). When reviewing all the research topics presented and pre-selected for the students in the course, I felt that one of the topics connected with me very closely. I propose to talk about what is the definition of a successful entrepreneur.
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.
While Entrepreneurship is the owner or manager of a business enterprise who, by risk and initiative, attempts to make profits. (Collins, 2011) Entrepreneurship is the process of creating something new with value by devoting the necessary time and effort; assuming the accompanying financial, psychic and social risks and uncertainties; and r...
In the United States, approximately one in eight adults are self-employed. In their minds exists a one common dream. This is the entrepreneurial dream of self-employment. It is the freedom to start, grow, and cash in a new business. Most of the extravagant millionaires of today build up their wealth in this way. An entrepreneur is someone who has the ability to build and develop his own business. In today's fast paced world of business, many people chose to work for themselves. A career as an entrepreneur is a risky, yet personally rewarding endeavor.
The main objective of this task is to critically analyse the statement stated by Deakins, D and Freel,M , 2012, p15 that “ A high degree of self-confidence or perceived self-confidence, called self-efficacy has been advocated by some writers as an important concept in entrepreneurship. High self-efficacy in entrepreneurship translates into self-belief in one’s capabilities to mobilise resources, motivate others and produce change (business start-up). Hence, the task will analyse the characteristics, traits, and qualities that may incur with the successful entrepreneur. Hence, the task will give details about the characteristics, personality traits, qualities, and individual’s beliefs in order to become a successful entrepreneur.
Nowadays, entrepreneurship becomes most popular career, where our government encourages our graduated student to involve in business so that unemployment will not happen in our country. Policymakers, academics, and researcher agree that entrepreneurship is a vital route to economic advancement for both developed and developing economics (Zelealem et al., 2004). Entrepreneurship has many types for example small business and others. Today small business, particularly the new ones, is the main vehicle for entrepreneurship, contributing not just to employment, social and political stability, but also to innovation and competitive power (Thurik & Wennekers, 2004).
According to The Oxford English Dictionary, an entrepreneur is “a person who sets up a business or businesses, taking on financial risks in the hope of profit”. Entrepreneurial development has become extremely important, because it is crucial to economic expansion. Entrepreneurs produce and provide goods and services for customers and consumers to purchase. The items that billions of people rely on daily are formed as products from business, and most of the time are designed by the entrepreneurs themselves. Therefore, entrepreneurs occupy a dominant position in the economy. Entrepreneurs actively pursue disequilibrium in the wants and needs of customers, and the goods and services that are available. They use their energy, creativity, intrinsic motivation, and passion to generate a solution to this imbalance in a market place, and thus businesses are born. However, entrepreneurship is not an end location, but a process. One must combine the key elements of entrepreneurship in order to successfully create a business.
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 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).
In business, I learned that it isn’t as easy as I thought it would be to manage your own company. Businesses are very hard to make because a lot of money is included to start the business and management is a must. Owning your businesses means you would have to take care of many things including: employment, paying bills, making decisions and becoming a leader. Managing a business effectively and managing staff effectively is the key to the establishment and growth of the business. The key to successful management is to examine the marketplace environment and create employment and profit opportunities that deliver the potential growth and financial capability of the business. An entrepreneur is a person who organizes and manages any enterprise, usually with considerable initiative and risk. The things I learned can definitely be used in my everyday life because it’s a way of surviving. Learning about business helped me get a better understanding of how I would run my own company someday.