Although entrepreneurship has been a worthwhile research field for many scholars, unanimous definition of entrepreneur is still have to be discussed. There are kinds of ways to define the entrepreneur that can be found in many literatures. For example, Schumpeter (1934 cited Rusu et al, 2012) stated that people who achieve a combination of new products, new production methods, new raw material sources or industrial restructuring is an entrepreneur. Bygrave and Hofer (1991 cited Rusu et al, 2012) believed that the entrepreneur is people who have a perception of opportunities and innovate a new business. Pleter (2005) defined an entrepreneur as a person who creates and enhances businesses, risks and the use of resources. Referring to the similarities from these definitions, the definition that will be used in this essay is from Dana (2012, P47), who suggested that “an entreprene...
... middle of paper ...
...rs to establish their own business or expand their enterprise as well as leaders. Risk taking encourages entrepreneurs take their idea into practice. Without adventurous spirit, innovative idea cannot come into effect. As for leaders, the quality of risk taking also help them to find a breakthrough for their business strategies and get remarkable achievements. In addition, the quality of adding value can prove the approaches that the implementations of an entrepreneur are rewarding and apply to the study of leadership, because leaders are not just establish a business, they can make the business exists longer and get more value constantly. What’s more, the last crucial quality for entrepreneurs to learn leadership is visionary thinking, which can help companies have a vision of their long-term goals and keep companies always in right directions for long development.
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- What does it take to be an entrepreneur. An entrepreneur isn’t just a business owner or a boss, they are someone who has seen an opportunity. Someone who has noticed a demand that is currently unsatisfied. Or invented a product that makes life easier for people. With this in mind, it can safely be said that an entrepreneur is someone who is innovative and able to see opportunities that many others don’t yet believe in. You will often find that someone in this position has a lot of self-belief. It is inevitable that people who try something new or different will face opposition.... [tags: Entrepreneurship, Entrepreneur, Joseph Schumpeter]
840 words (2.4 pages)
- What an Entrepreneur Is An entrepreneur is a person who finds it worth risking, especially in term of his or her finances, in a particular project with a hope of introducing new related ventures that will culminate into visible success financially (Foley, 2006). Sometimes, an entrepreneur can also be taken to mean a person who is in the verge of organizing a virtually new project and targeting to use previously unused channels after discovering a hidden opportunity in the eyes of others. Evidently, in both cases, there is a risk factor and therefore maximum care and guided moves are things to take care of first.... [tags: Entrepreneur ]
1955 words (5.6 pages)
- What Is An Entrepreneur. 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. Some of it depicts business visionaries as verging on legendary characters who acquire their abilities from an exceptional hereditary mix.... [tags: Entrepreneur, Entrepreneurship]
1515 words (4.3 pages)
- From an economists point of view entrepreneurship is best considered as a function. The entrepreneur is what the entrepreneur does. Entrepreneurship was first described in economic terms by Cantillon (1755) who defined the components of trade but the term was accorded prominence by Say (1803). The modern theory of the entrepreneur is primarily concerned with the primary characteristic of the search for or the discovery of knowledge. The entrepreneur uses this knowledge in reallocating resources, where it is argued that the qualities of shrewdness and deviousness enter, to his own advantaged.... [tags: Economic Market Analysis Entrepreneur]
1945 words (5.6 pages)
- Overview In the documentary “Call of the Entrepreneur,” three successful entrepreneurs, Brad Morgan, Frank Hanna, and Jimmy Lai, are presented to explain their views on entrepreneurship and in turn leadership. Brad Morgan is the owner of a million dollar dairy and compost company, Frank Hanna is a merchant banker in New York City, and Jimmy Lai is the founder of Giordano department stores and Next Media. A central theme of the documentary is how each of these businessmen displays the characteristics of persistence, patience, and perseverance to overcome frustrating obstacles and become successful.... [tags: Documentary Analysis]
989 words (2.8 pages)
- 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.... [tags: small business self employed]
3031 words (8.7 pages)
- ... It may not necessarily be the prospect of making billions that's driving you either. You're more likely to be driven by a vision and a passion, because you know what you're doing has the potential to change the game. Other people will tell you you're crazy, but you could do worse than quote back to them those famous words of the 1997 Apple advertisement: "... the people who are crazy enough to think they can change the world are the ones who do." You'll need that passion to sustain you through the hard times, when you hit walls and things aren't going to plan.... [tags: vision, passion, persistence]
974 words (2.8 pages)
- When you’re ready to own a business for yourself, it’s a step that should not be lightly taken. If you choose to start a business and become an entrepreneur, you might be wondering what the basics are behind this career choice. There are a number of reasons people turn to owning their own business… although some believe it’s just one thing. Really, it’s an amalgamation of several instances: being fired, being laid off, unhappiness at work, not feeling fulfilled at work, etc. Oftentimes, it’s the strong desire to be their own boss that drives them to put their career, livelihood, family and everything else on the line to make a go at being a business owner.... [tags: Entrepreneurship, Management, Business, Full-time]
2408 words (6.9 pages)
- LEARNING OUTCOME (01) – CHARACTERISTICS OF THE ENTREPRENEUR Entry 1 Entrepreneurship is a process carried out by individuals by identifying opportunities and converting them into marketable products or services. Entrepreneur makes an investment, sets up an organisation, markets the product / services and makes profit from it. In my view, to be a successful entrepreneur, one must be confident, should be able to take calculated risk, flexible and creative. He should be able to lead his organisation to achieve his goal by ethical means (Schaper, Volery, Weber & Lewis, 2011).... [tags: new venture opportunities]
965 words (2.8 pages)
- Entrepreneur is called owner of entrepreneurship. He is a person who manages and organizes any enterprise. It is necessary to consider success story of entrepreneur that what he have done differently from other that led its organization towards success. Few steps are required to follow by entrepreneurs to be successful in the business. This paper is written to analyze success story of entrepreneurs. In this paper, I highlighted reasons of its success. I also described challenges faced by entrepreneur during this journey.... [tags: Entrepreneurship, Management, Entrepreneur]
734 words (2.1 pages)