An Entrepreneurial Mindset

‘Herewith appear to be the most pressing matters; one, infective and inexperienced entrepreneurial leadership. Two, the dialectic nature between front of house and back of house, and three, a lack of general training motivation and direction in original concept.’

Optimism in some cases is a desirable trait due to its fundamental nature. Being optimistic allows people to keep their head high and keep moving, even through the most dire situations that they may face. Optimism is a priority because it helps people in various ways and, also a very prominent trait in some people. In life, optimism is often viewed as a desirable trait, and something that can benefit somebody’s life.

Entrepreneurs are the people who are not afraid of taking chances though knowing that the chances might be bad, but nonetheless they are always positive and hope for the best. The risks they take are well calculated so that when it succeed, it brings good results.

Entrepreneurs use innovation to exploit or create change, such innovation provides opportunity for making profit. They do this by shifting economic resources from an area of lower productivity into an area of higher productivity and greater yield, accepting a high degree of risk and uncertainty in doing so. (Burn, 2011)

What do entrepreneurs do that distinguishes them from any other person involved in business? Why is it that personality characteristics may be good predictors of who will be a successful entrepreneur?

Background The Entrepreneurial Approach - Entrepreneurship is from a French word meaning "a person who undertakes innovations and risks in business in an effort to transform ideas into economic goods." In modern business jargon, it has become more of a description of a mind-set, one who will take risks in order to result in gain; one who will use the spirit of innovation and throw off the shackles of "rules" to success in whatever organization that may be (Searching for the Invisible Man, 2006)

According to Houston (2014) being optimistic provides improvement to one’s self. Optimism has always been the common element of financial and professional success and improvement. Optimistic persons have more room and chances for improvement than a pessimist. They usually don’t beat over their problems and tries to handle the situation faster. It is extremely

There are different factors that can influence the success of a business. For each entrepreneur, the factors might be different depending on their knowledge, skills, and personal traits. However, I will mention a few key points that I consider are relevant and every entrepreneur should take into account in order to succeed. The most critical factors are execution, knowledge and skill, honesty and integrity, passion, hard work, and persistence (Sutevski, n.d). An entrepreneur needs to execute his or her ideas. Only actions lead to success, it doesn’t matter how great the ideas or plans are if there is no action there

Optimism helps people cope with the difficulties of life. It is an urgent topic today. Individuals who learn to be optimistic in almost any situation can not only avoid becoming depressed, but can also improve their physical health and well being. (Diehl, 2001) Optimistic people tend to think to focus primarily on the better things instead of the negative. A person may express more optimism when it comes to making harder decisions. (Armor & Taylor, 1998) Optimists go through some of the same struggles that a pessimist would go through. Even though they both experience the same problems, an optimist would think about their disappointments in the opposite way. (Seligman, 1994) Some researchers have come to the conclusion

Explain and critically analyze unique traits of an Entrepreneur, discuss these related to personal strengths and weaknesses

idea. Businessman is more likely to deal with the famous entrepreneur and buy his idea with a

Entrepreneurship scholars have highlighted the differences between entrepreneurial leaders and other leaders in three domains. First, entrepreneurial leaders possess inherent characteristics that differentiate them from other leaders and motivate and enable them to enter the challenging process of leading entrepreneurial activities (Chen, 2007; Kuratko, 2007; Fernald et al., 2005; Gupta et al., 2004; Nicholson, 1998). Entrepreneurial characteristics which are most referred to with respect to both entrepreneurial leaders and organisations are innovativeness, proactiveness and risk taking (Chen, 2007; Kuratko, 2007; Gupta et al., 2004; Covin & Slevin, 1991). Innovativeness is the ability and tendency of entrepreneurial leaders to think creatively

In my opinion the entrepreneurial school of thought has the following limitations which I have discussed below one by one.

There exist four main approaches about what entrepreneurs distinguishes from managers: (1) creation of new organizations, (2) high-growth, high-wealth-creating businesses, (3) innovations and creation of new products and markets, and (4) recognition and pursuit of profitable opportunities. The underlying assumption is that wealth creation is a

Entrepreneurial cognition refers to the knowledge structures that people use to make assessments, judgments, or decisions involving opportunity evaluation, venture creation, and growth (Mitchell, Busenitz, Lant, McDaugall, Morse, & Smith, 2002). It is the approach that is characterized by the study of the type of cognitions among others that could help to define the entrepreneur, explain entrepreneurial behaviours in relation to identification of business opportunities and growth, success in business, and distinguish entrepreneurs from other