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Short note on entrepreneurship as a career
Importance of entrepreneurship
Importance of entrepreneurship
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Entrepreneur (Noun) [ahn-truh-pruh-nurz]: a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk (“entrepreneur.”). In most professions, discourse communities exist as a means of communication between other members of the same profession, though the technical definition of discourse community is still disputed. Both students studying entrepreneurship and entrepreneurs themselves take an interesting role in discourse communities, as aforementioned communities can be hostile to entrepreneurs. However, entrepreneurs can take on significant roles in discourse communities in ways that seemingly defy many definitions of discourse community. This is why it is important to inquire into the place of entrepreneurs inside discourse communities. By looking at relationships that entrepreneurs hold, placing those relationships inside …show more content…
Specifically laying out the various relationships that entrepreneurs have will help relate and match each relationship to various definitions of discourse communities given by leading authors in the fields of English and discourse communities. Entrepreneurs have relationships with other entrepreneurs in that they have shared knowledge of the subject of new venture management and basic business skills. Some might have relationships with current business leaders in the market in which they want to venture. Entrepreneurs who simply take on the risk and business growth for another’s idea or specialty don’t necessarily have a large relationship with the market they enter, but with the person who holds the idea they are helping to grow into a business. Finally, they should have relationships with the clientele of said market to better understand their needs, wants, and demands in many
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.
"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.
An entrepreneur is a person who sets up a business or businesses, taking on financial risks in hopes of making a profit. Prior to presenting our entrepreneurship promotion project, many of our students had a limited, if any idea, of what an entrepreneur is. The purpose of our entrepreneurship promotion project was to educate our fellow classmates on the roles of an entrepreneur and what it takes to become one. Entrepreneurs have to work through extreme measures in order to gain success aside from the fact they shall not dwell on failure and stay motivated to achieve their set goals. This project provided the possibility for our students to meet face to face with real entrepreneurs and discuss the challenges they are faced with choosing to be
An entrepreneur sees an open door which others do not completely perceive to take care of an unsatisfied demand or to profoundly enhance the execution of a current business. They have a ravenous, self conviction that this open door can be made genuine through diligent work, duty and the flexibility to take in the lessons of the business sector along the way. Much has been composed concerning entrepreneurs and entrepreneurship.
The lecture seeks to expand the scope of entrepreneurship by giving both narrow and broad definitions of the paradigm, and further highlighting its importance in procuring development of a country. Through this lecture participants learn of real life instances of innovative entrepreneurs and their spirit.
His rich & Brush (1984) mentioned that, majority of entrepreneurs in a sample of 468 told that, they received significant support from their spouse in starting up of the venture. Marian Holienka, Milos Mrva, Peter Marcin (2013) suggest that students with family entrepreneurial role models show significantly higher intention to become an entrepreneur than those without. Therefore, it’s asserted that the association between exposure to family role model with positive experience in business and students’ entrepreneurial intention is significantly positive. Ronstadt and Peterson (1988), actors in an entrepreneur's social network may provide significant support in helping the entrepreneur recognize their own abilities or limitations, first generation entrepreneurs generally face strong opposition from their parents as occupation pursued by the family so far is different from what is going to be done by the entrepreneur.
Reading from an academic abstract, titled 'Entrepreneurship: owing your future ', dialogues about the tools and implements needed to become a successful entrepreneur. The book gives an introduction of entrepreneurship and defines it as: "Someone who creates and runs a business", (Mariotti, 2016, p5).
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.
Is there truly a link between entrepreneurship and economic development? Schumpeter (1934) observed a link between both of these and he also suggested that innovations which are radical can lead to creative destruction, transforming industries for the better as well as improving the quality of life for inhabitants. In this following essay, I am going to be examining an innovation’s contribution to economic development as well as the link between economic development and entrepreneurship.
According to Deakins and Freel (1998), the literature on entrepreneurship process has attempted to dichotomies into two approaches, which is from the nature of entrepreneurs and their role in econo...
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.
This paper examines the myths associated with what it takes to be an entrepreneur, the profiles and the common characteristics among these successful entrepreneurs.
entrepreneurs have the ability to come up with new ideas in various situations of which one might have never imagined. Entrepreneurs have a curiosity that identifies overlooked niches and they are constantly trying to innovate (Robinson, 2014). They imagine another world and have the ability to communicate that vision effectively to investors, customers and staff.
Risk-taking is one of the chief dimensions of entrepreneurship. Entrepreneurs are found to be more risk takers than the managers and salaried employees, such that, they are willing to put their homes on mortgage, jobless and can work for years without any earning (Burns, 2011; Masters & Meier, 1988). According to (Moore & Gergen, 1985), entrepreneurs always take calculate risk and always analyse the situation. Cognitive Psychology supports that the risk taking ability is just limited to their area of expertise (Sjöberg, 1978, Heath & Tversky, 1991). According to (Heath & Tversky, 1991), entrepreneurs take more risk in the area of their interest and expertise and not in those area, they have little knowledge about. But even then also, they take more risk than general population.
Entrepreneurship is a powerful combination of imagination, enthusiasm, vigour, passion, excitement, insight, assertiveness, and hard work which enables great ideas to become more than just a dream but a reality (Bessant and Tidd 2011, p. 10). Bessant and Tidd (2011, p. 11) suggests entrepreneurship is a human characteristic which combines structure with passion, planning with vision, tools with the wisdom to use them, strategy with the energy to execute it and judgement with the propensity to take risks, and the new start up venture in which the lone entrepreneur takes a calculated risk to bring something new into the world.