Characteristics of an Ideal Entrepreneur Essay

A person who starts a business is someone who assumes the financial risk of the initiation, the operation, and management of the business. ,“An entrepreneur is someone who organizes a business venture and assumes the risk for it”. (Define an Entrepreneur, Source: H) A person who has possession of a new enterprise, or “idea and assumes significant accountability for the inherent risks and the outcome” (Source: H) can be known as an entrepreneur. “The term is originally a loanword from French and was first defined by the Irish economist Richard Cantillon.” (Define an Entrepreneur, Source: H) “Entrepreneur in English is a term applied to the type of personality who is willing to take upon her

With the world we live in rapidly changing, the world we once knew so well is now a thing of the past. With the constant changes and advancements occurring in the business world, its essential for employers to invest in employees who are willing to take intelligent risks in order for their business to flourish. However, within the constantly changing world we live in today, finding prospective employees with this risk-taking characteristic are hard to find. Many people in our society today are in constant fear of failure which is why none of them are taking risks. But what many of these people aren’t considering is that although there is a possibility of failure, there is also a huge possibility for success which is why they should be

Entrepreneurship is the willingness to take risks to create and operate a business. An entrepreneur is someone who sees a potentially

An entrepreneur is someone who organizes, manages, and assumes the risks of a business or enterprise (Merriam-Webster, n.d). Some characteristics of an entrepreneur are, the willingness to work hard, the desire for responsibility and the confidence in their ability to succeed. The person that I chose to interview for this paper is, Adama Kuyateh.

Entrepreneurship is the activity of creating a new business or enterprise. It is an essential and significant action in the growing job market (Bednarzik, 2000). Entrepreneurship has become important to all the countries whether they developed or developing ones. It is a basis of economic growth and employment creation (Thurik, Carree, Van Stel, Audretsch, 2008). It involves opportunity recognition or creation, collecting resources to track the opportunity, and managing actions that bring a new venture into existence. Some ventures are complete start-ups, while other ventures are pursued within an existing organization (Enz and Harrison, 2010). Entrepreneurs accept the personal financial risks that drive with having their own business. On the other hand, entrepreneurs benefit directly from the

An entrepreneur is a person who organizes and manages a business undertaking, assuming the risk for the sake of profit. An entrepreneur: Sees an opportunity. Makes a plan. Starts the business. Manages the business. Receives the profits. (SBA) We know who the entrepreneur as mention above, Maddie Bradshaw is also one of them. Maddie Bradshaw turned her hobby she loved into a profitable company with her locker inspiration and magnetic bottle caps. Her creativity and enthusiasm to use old bottle caps and interchangeable, magnetic bottle cap necklaces makes her a young successful an entrepreneur.

An entrepreneur is the one that takes on all risk, the financing failure and criticism. The entrepreneur has to pitch their product, promote the product and put all the hard work in making sure the consumer knows about their product all while usually working a fulltime job as well. The entrepreneur needs a solid plan but also needs to be able to make changes to this plan if needed. Meaning if someone was asked about funding the project and decided if you could make 20 units of the product by a deadline and sell all 20 to this type of group to be able to get

Willingness to take calculated risks: confidence in their business operations and being able to take specific kinds or calculated risks.

An entrepreneur is someone who starts a new company to produce a product or service. An entrepreneur is usually a risk taker and an opportunist. Entrepreneurship is a positive change in our society. Entrepreneurship is combined with land, labour, resources and capital in order to make a profit.

Entrepreneur is a person who establishes, owns or operates a business and is characterised by traits such as creativity, strong will, motivation, passion, determination, leadership qualities, work ethic and non-conformity. They are willing to take (non-excessive) risk in order to make a financial profit and are fully responsible for the outcomes. Their ideas are usually ground-breaking and innovative in their particular field.

Based on Knight’s economics view (1921), risk-taking is crucial to entrepreneurism. This view is supported by many classical theorists like Cantillon and Richard (1755) who explore that entrepreneurs bear risks or uncertainty to keep supply-demand balance. Phan (2008) also support this positive relationship and assert that entrepreneurs are risk-takers, not gamblers. However, Bula (2012) argues that

Do you think you have what it takes to through hard times, regardless of your definition of wealth? Do you know that successful business people share, oddly enough, some common and peculiar characteristic? But do you know that you can achieve these characteristics and be among the big players when it comes to an ideal entrepreneur?

Taking a risk: the entrepreneur is the person who risk time money, time and effort to start or manage a new business.

In the business world, higher risk means higher earnings. Therefore, studies show that intrapreneurs who are more risk averse are less financially rewarded compared to independent entrepreneurs who are more risk-tolerated. Intrapreneurs attend to take less risky projects as opposed to entrepreneurs who are more willing to take full responsibility for their projects and care less about the consequences in case of failure. Intrapreneurs sensitivity toward risk taking can be accredited to personality traits

Entrepreneurship is an essential part of economic development, and it has been so especially since the industrial revolution. Development is achieved for example through innovation, which the Organisation for Economic Co-operation and Development (OECD, 2005) defines as the ‘implementation of a new or significantly improved product (good or service), or process, a new marketing method or a new organisational method in business practices, workplace organisation or external relations’. Innovative performance is an essential part when determining competitiveness and progress on a societal level. The following chapters will focus solely on innovative and opportunity entrepreneurs, as necessity entrepreneurs and entrepreneurs that imitate others contribute little to none towards economic development.