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Importance of entrepreneurship to the society
The Concept Of Entrepreneurship
Importance of entrepreneurship to the society
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Hustler Vs Entrepreneur - Which One Are You? Currently the use of the word "hustler" is thrown about as a positive way to describe oneself as having an entrepreneurial streak, or starting a new business.
From the 1800s, hustler meant "thief", and in particular, someone who was aggressive with their victims. Nowadays, the dictionary still holds this definition true, describing a hustler in a negative light: a thief or criminal; a gold-digger or prostitute; an overly pushy salesman (OED, 2015). In modern music (mostly ghetto rap), "to hustle" refers to a way of making money and doing it against all odds. Maybe the latter is where startups are drawing their inspiration from?
Hustlers work for immediate gratification to obtain cash-flow, without a long-term vision. It's about a foot in the door, a constant drive to keep making the money - it's all about making the next sale.
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Why hustle when you can "undertake enterprise"?
Being an entrepreneur may involve overcoming odds and making money, but it's definitely NOT hustling. Startup entrepreneurs find ways of making money, but do so ethically and in terms of a defined growth strategy. Entrepreneurs build a business, own the business, delegate, strategize, and think ahead. They link things - they are connectors: businesses, ideas and people. Entrepreneurs create systems, contingency plans, they develop others, and (probably most noteworthy) entrepreneurs consider exit planning.
The actual meaning of entrepreneur?
It stems from Old French, "to undertake enterprise". What's enterprise? Well, that's work. The characteristics of an entrepreneur were added in the 15th century: a person with "adventurous disposition, readiness to undertake challenges, and a spirit of daring" (Harper, 2015). In recent definitions, "One who undertakes an enterprise; one who owns and manages a business; a person who takes the risk of profit or loss" (OED,
An entrepreneur is someone who recognizes an opening in the market for a product or service and carries it out using initiative. Usually being innovators ; entrepreneurs are risk takers in means of not knowing whether their ideas will in fact succeed (Business Dictionary, 2016). Fashion leaders are considered entrepreneurs because to be strong in the fashion industry one must attempt to stay ahead of competitors and know what is already out there as would an entrepreneur. One of Australia’s most successful fashion designers could also be considered an entrepreneur; Collette Dinnigan is an award winning fashion designer who has exhibited in London and Paris and was the first Australian to launch a ‘ready-to-wear’ collection, as well as being
Robert Kim 3. Define the term entrepreneur. (2 marks) An entrepeneur is someone who starts a brand new business, with a considerable amount of financial risk and initiative 4. Outline the history of the business.
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
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, 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.
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.
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).
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.
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
An entrepreneur is a person who organizes and manages a business undertaking, assuming the risk for the sake of profit. According to Martin (2010) an entrepreneur sees an opportunity which others do not fully recognize, to meet an unsatisfied demand or to radically improve the performance of an existing business. To have self-belief that this opportunity can be made real through hard work, commitment and the adaptability to learn the lessons of the market along the way. For example, When an almost bankrupt security company was offered to her, Datuk Maznah Hamid and her husband, who were eager to change their ordinary life, took the plunge and sacrificed RM5,000 of their saving. Only then she realized that apart from managing the operation, she also had to be a manager, a clerk, an accountant and a receptionist. To grow their business, they had to sell their house and moved to a slum that came without electricity. But she persevered. Today, it’s difficult to find someone who has never heard of Securiforce.
Being an entrepreneur, is advanced citizenship, you have to want it real bad. Entrepreneur is not entitlement. Being an entrepreneur is a life commitment. Like in the movie Wall Street, a famous line was "You can 't be a little bit pregnant." The fact is you can 't be an on again, off again entrepreneur.