Analysis : Peter Drucker 's Statement

Entrepreneurship is a term that has reentered the public vernacular over the last few years, many times in reference to what is wrong with America but what it means is rarely defined. Furthermore, it is generally agreed that more Entrepreneurship is a desirable trait but how to go about encouraging it is again a point of contention. This paper will address a specific facet of entrepreneurship and attempt to discover what are the key drivers to foster an entrepreneurial spirit from childhood.

Have you ever wondered who thought about the idea of creating a multinational retail corporation here in America called Wal-Mart? Sam Walton - founder of Wal-Mart was behind that idea. Sam Walton is an example of great entrepreneur who wanted to make his business successful. An entrepreneur needs a variety of skills but does not need to have a formal education. Being an entrepreneur is challenging even if an individual is well educated on the field or has no education at all. There is always the risk conducting business because of the competition with other companies. However, what does an entrepreneur do? Do you have what it takes to be on top the business world and compete ? An entrepreneur must have is a guide to start and run a business even if it is a big or small business.

Slowly he became market leader for that product. Entrepreneurship has been defined by several researchers as the progression of making a product or service valuable by gathering a distinctive set of resources and opportunities. This procedure comprises the set of accomplishments to recognise opportunities, business classification, evaluation and obtaining the essential resources, management and getting positive results. Furthermore, entrepreneurship has been seen as an organizational coordination that underlines the three extents: innovation, taking calculated risks and proactive orientation. There are many indications to provision the idea that the businesses which were engaged in entrepreneurial practices have been most effective and successful (Hills, Hultman & Miles, 2008).

The purpose of a rhetorical message is to persuade an audience in favor of a particular viewpoint. That is easier said than done. This essay will articulate the different rhetorical characteristics the author Gary Vaynerchuk used in his multimodal text titled, “The Entrepreneurial Spirit: Are Entrepreneurs Born or Made?” This text suggests that the term entrepreneur is used loosely and that successful entrepreneurs are born with innate traits rather than obtaining those traits throughout life.

“An entrepreneur tends to bite off a little more than he can chew hoping he’ll quickly learn how to chew it.” (Roy Ash)

Dr. Peter Watt, a professor at York St. John University, says that “one reason entrepreneurs drop out is the basic narrative as a restatement of Alger’s ‘rags-to-riches’ paradigm, [which] can be conceptualized, in its most simple form, as a narrative of ‘overcoming’ ” (Watt 35). In other words, entrepreneurs feel motivated to succeed more when they get the feeling of overcoming some form of adversity, such as dropping out. Similarly, Professor William Nickels asserts that being a successful entrepreneur is based more off of “personality.” According to Nickels, “You [aspiring entrepreneur] can learn about managerial and leadership skills needed to run a firm. However, you may not have the personality to assume the risks… [S]uch personality traits are harder to learn or acquire than academic skills” (Nichols 154). Essentially, Nickels position is that “to be a successful entrepreneur one must have entrepreneurial personality, be self-directed, self-nurtured, be action-oriented, energetic, and tolerant of uncertainty.” (Nickels et. al 154). Ironically, Nickels is a college professor who is telling this to his students. Perhaps he holds these views because some of his previous students who excelled in the course work, were not successful entrepreneurs. If personality traits dictates entrepreneurial skills, then does this attitude explain why

There has been extensive research conducted on the characteristics that successful entrepreneurs possess. These attributes vary widely across literature, however there are common key traits that are required to achieve any form of success. Frederick et al (2013) suggest entrepreneurs are risk takers, optimistic, have sound judgement and an ability to manage. While a review of literature relating to the psychology of an entrepreneur reveals a large variety of characteristics in a successful entrepreneur, these can be consolidated to a a few into only a few traits that are essential for a successful entrepreneur. Whilst taking into

Now, if I am to define what entrepreneurship is, it’s just like been my own boss. There are many ways one can take to get there. I thought it may be helpful to explain the most common ones here, together with some open discussions on the pros and cons of each.

My husband and I were on vacation recently and on the return trip we had a aircraft full of very interesting people. And I got to thinking about what all these people do for a living and wondered how many of them were actually entrepreneurs. As a life and business coach I have discovered that nothing is ever as it seems and as I started looking at these people I realized that many of the reasons that people fail in business has more to do with them and their personal habits, than the economy, the cost of marketing or the type of product they sell.

Entrepreneurs start businesses. The depiction of entrepreneurs in the media often differs to the reality of who they actually are. Most people would describe entrepreneurs as “heroes who stand alone” or someone who is “very special”, (Shane, 2009, p.40). This isn’t actually the case, as the common entrepreneur isn’t necessarily someone who starts a huge conglomerate. A typical entrepreneur is instead likely to be a white male in his forties. (Shane, 2009, p.40). The standard business start-ups are extremely ordinary (Shane, 2009, p.64): they are not

In his view, the entrepreneur is a revolutionary innovator that “requires aptitudes that are present only in a small fraction of the population” (Schumpeter, 1946, p.132). These aptitudes include; a strong intellectual capacity, drive and determination, creativity, and leadership skills (Schumpeter, 1934).

There are different groups of entrepreneurs, those who talk about their great ideas but never get started or give up at the first obstacle and those who are on an unstoppable quest to get things done.

Entrepreneurs are the flavour of the year and today everyone is either one or on the way to becoming one. Fueled by the drive to earn more than what most jobs can give, rock star like adulation achieved by those who make it, and with success stories that run into billions of dollars, being an entrepreneur is the new black. In fact those of us who are 30 plus would still remember that just two to three decades back, being an entrepreneur, especially if you were male, meant that you were either morally bankrupt or worse stupid, and either of which, by-the-way, substantially brought down your value in the marriage market.

Entrepreneurship is induced by an individual’s skills, attitudes, motives and psychological ability. The entrepreneur as an individual is affected by the circumstances in which he or she is acting, as a result, entrepreneurial actions and motives are influenced by the business environment, cultural and institutional factors and macroeconomic conditions (Pirich, 2001).

"Entrepreneurs are born by circumstance – where there is hunger, where there is despair, where there is desire." (Chye, pg. 1) According to Brown (1999) some people are born entrepreneurs, with or without education they will succeed, whereas no amount of education can provide business success for someone that does not have the ‘entrepreneurial spirit '. (Brown, 1999, pg. 3) Skills and characteristics that entrepreneurs require include: critical thinking, reliance on experience, venture feasibility analysis, venture strategy and evaluation skills, networking, deal-making and harvesting skills. (Brown, 1999, pg. 4)