Introduction
Entrepreneurs are born. This statement by Professor James V. Koch from Old Dominion University, Virginia, USA reflects that entrepreneurs have entrepreneurship skills that are part of a person’s innate traits one must be born with (Kuratko 2014).
Entrepreneur who is born is the entrepreneur that has a family business. The entrepreneur inherits their parent’s business. Inheritance can make a person to be an entrepreneur.
Matter of fact, heredity affects personality and behavior (Daley 2013). Entrepreneurs are risk takers, a personality that not all people have. People’s personalities, which are caused by heredity factor, are different to each other. For this reason, there are people who involve in business and entrepreneurship, and those who are working for salaries like government workers.
Entrepreneurs cannot accept defeat. They are energetic. They are loners and work for long hours. They are also confident, that leads to overoptimistic. They are able to deal with uncertainty and risks. These are personalities of entrepreneurs. Research has shown that genes influence these personalities.
Professor Julian Lange from Babson College, Massachusetts, USA however, contradicts Professor Koch’s statement saying that entrepreneurs are made. With entrepreneurship education, a person can be an entrepreneur.
Anyone with interest in entrepreneurship can be an entrepreneur. Furthermore, a person who is born with characteristics of an entrepreneur needs entrepreneurship education. Learning is the important part to enhance entrepreneurship skills. With learning entrepreneurship, a person can be receptive towards it (Daley 2013).
To sum up, entrepreneurs, some of them are born, some of them are made. If they are born,...
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...sion to expand the Starbucks brand worldwide, prove the Professor Lange’s theory that entrepreneurs are made, is true. Howard was living a hard life when he was young, but he managed to make Starbucks, the star of the world.
Conclusion
In a nutshell, born entrepreneurs need to be made. Made entrepreneurs can be successful in the business arena.
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Works Cited
Daley, J 2013, Are Entrepreneurs Born or Made?, California, viewed 6th April 2014, .
Kuratko, DF 2014, Entrepreneurship Theory Process Practice, 9th edn, South-Western Cengage Learning, Ohio.
Lim, GT 2004, My Story, Pelanduk Publications, Subang Jaya.
Shultz, H & Gordon, J 2011, Onward: How Starbucks Fought for Its Life without Losing Its Soul, Rodale Books, Pennsylvania.
Trump, I 2009, The Trump Card, Touchstone, New York.
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).
Entrepreneurs forever ought to begin any business by themselves if they one thing got to be done. They create the bounds and become dedicated towards achieving their goals, vision, mission and objectives. Businessmen are headworker, creative, positive minded and opportunities taker further. They are doing not anticipating someone to grant them permission.
Globally, it is felt that entrepreneurship emerged as a progressive and developmental idea for the world of business, Scott (1986). Hence it is in the consideration that entrepreneurship is the vital ingredient not for the current era of globalization only, but also for the future potential performers for creating diverse opportunities, Mita (2002). Entrepreneurs are identified as creator, innovator
"Entrepreneurship is the ability to create and build something from practically nothing" (Timmons 1). Entrepreneurs should be admired more than anything for
Next, the second view is propounded by Julian Lange is a senior professor of entrepreneurship at Babson College in Wellesley, Mass who believe entrepreneurs are made. He said that his research had shown that two thirds from the 4000 alumni of whom taking core elective courses on entrepreneurship had been affected positively to be entrepreneurs in their future undertaking. He was on the opinion that education helps those people to be more receptive towards entrepreneurship since education is capable to change someone perspective towards personal life business.
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.
An entrepreneurial success will depend on some determinants such as attitudes, behaviors, management skill and know how etc. Drucker (1985) explored entrepreneurs are exclusive individuals with pre-determined features. He strongly supports the behavioral approach by ignoring the psychological approach to entrepreneurship. He argued that entrepreneurship is a behavioral pattern rather than a personality trait and something that an individual can be learned so that they can, indeed, learn how to behave entrepreneurially. Entrepreneurs are taking risk through decision making. Barkam, (1989); Henry, (2003) they also agreed views of Drucker and Schultz of behavioral approach. Gartner (1989) also criticized the traits approach to entrepreneurship and claimed that entrepreneurs creates an organization where as non-entrepreneur does not. He vies personality traits of traits as ancillary to his /her behavior. Entrepreneurship is still all about the creation of an organization, they performing series of actions which ultimately result in the set up a new venture. He also recommends that researcher should observe managerial behaviors (mintzberg, 1973) and entrepreneurs in the process of creating organization and specific roles which are performed during the actions. Entrepreneurs should have good managerial skills
We now live in a global pattern of flows of skills and human capital and those flows are no longer defined by narrow definitions of skills they are defined instead by talent, they are defined instead by entrepreneurship abilities and attitudes and they are defined instead by ability to innovate and even an interest to pursue innovation.
Entrepreneurship has been described as the “capacity and willingness to develop, organize and manage a business venture along with any of its risks to make a profit” (www.businessdictionary.com). Entrepreneurship takes the economy and the society to the state of progress and prosperity. A career in entrepreneurship provides opportunities for individuals to achieve financial stability and independence. It can also contribute greatly to the economy by creating new jobs, innovation, and increasing economic growth (Ramos, 2014).
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.
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.
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).
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.
In this section will discuss the origin of entrepreneurs, entrepreneurship, and the last conclusion of whether entrepreneurs are born or created.