The Motivation For Entrepreneurs, And The Definition Of Entrepreneur

This article talks about how it can be difficult to be an entrepreneur but it’s worth it. An entrepreneur is when one lives off their own business. Eades talks about how by starting your own business you can make a positive impact no matter the risk that exists of failing. The author mentions a few people that are well known that became very successful; for example, Steve Jobs and Bill Gates. Following their footsteps is very extreme; it can be a goal but it is something

(3) Moreover, to obtain his information, a questionnaire was developed which included mixtures of scaled, dichotomous, multiple choice, open ended and rank-order questions. (3) Hisrich findings were divided into four areas; the demographic composition and background of the entrepreneurs, the nature of their business ventures, the skills, and personalities of the entrepreneurs as well as the problems confronted in starting and operating a new venture. (3) In the sample entrepreneurs were between the ages of thirty-five and forty-five; in which sixty percent were married and had children. (3) Forty-two percent were first-born children in their families, and the majority grew up in lower or middle class environments.

Entrepreneurship is related with the capability of recognition and evaluation of opportunities, allocation of resources and growth. Moreover, entrepreneurship has been taken as an organisational notion that contains three magnitudes: Modernisation, Bear risks and Practical alignment. It has been confirmed that the companies that were engaged in entrepreneurial activities are now most successful and efficient.

They help in intensifying competition with the help of technology they master in increasing productivity and thus contributing in the development of the country, followed by economic growth.(Dr. Sangya Shrivastava 2013) Entrepreneurship has been given much emphasis by organizations and governments in recent years. It acts as a vehicle for small businesses. We can see the increasing level of economic development when more of the population gets involved in entrepreneurship which is basically self-employment. Entrepreneurship plays a critical role in the development of the economy as this is the key contributor to innovativeness and product improvement. It is one of the important ingredients to the creation of new employments and in the building of communities in ways of offering them jobs. By contributing to local charities, taking part in local business, investing in projects in communities, and creating and participating in different networks in entrepreneurship, they build up robust communities which contribute to the community development. Governments have struggled to develop policies which will enhance entrepreneurship by understanding the critical difference existing between small business owners and entrepreneurship. At the same time, a misconception about entrepreneurs and where entrepreneurs can be found can also help the local people to create the right picture of entrepreneurship and thus become aggressive and contribute to

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

Entrepreneurship happens to be getting popular and fast rising to be the largest employer of labor in many developed nation’s economy. An entrepreneur is an individual who, rather than working as an employee, runs the small business and assumes all the risks and rewards of a given business venture, idea, or good or service offered for sale. The entrepreneur is commonly seen as a business leader and innovator of new ideas and business processes.

Entrepreneurship is a term often used to describe a person who owns and operates their own business, but the 2009 World Economic Forum report describes it, “The pursuit of opportunity beyond the resources you currently control” Stevenson (1983, 1985); Stevenson and Jarillo (1991) and the 2008 European Commission published a framework definition derived from representatives from ETF, GIZ, ILO, UNESCO and UNEVOC that states, “Entrepreneurship refers to an individual’s ability to turn ideas into action…”. But no matter how you define it, the most important skills, traits, and characteristics needed to be successful are vastly analogous. Along with this week’s reading, I conducted internet searches for the top characteristics, traits, and skills for entrepreneurship and my findings were surprisingly similar. The most common result that I found was determination (willpower, self-discipline, drive, motivation). In this submission, I will identify a successful entrepreneur and describe the their type of innovation or business, what characteristics or traits they have, how they got started, and what they did in order to become and remain successful.

The Entrepreneur I have researched and written my report on is the world famous Walter Disney.

Entrepreneurship is a process of making a business that aims to make a difference globally. It is a way of setting up your business courageously and proudly without much problem or worry if it would fail. A person who has the skill of entrepreneurship are called entrepreneurs. If you are willing to take the risk to bring innovation for the betterment of our society, then you are an entrepreneur! Entrepreneurship is correlated with business or business owners.

In the present-day world, America is known for being one of the most prosperous countries in the world. Many ask why, well there are many factors as to why, but one of the biggest reasons is because America loves the idea of entrepreneurship. Entrepreneurship is one taking the risk in investing money and time towards a business. Why is entrepreneurship so important to the world especially business people?

Most of the businesses are started by individual who live by their own. They dream about an opportunity and knock on every door of fortune to get their dream true. Such as: An individual sold milk door to door by his own and such direct selling. 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).

A comprehensive approach to promoting entrepreneurship must work on three levels-individuals, firm and society. To motivate individuals to become entrepreneurs, they should be made aware of the concept of entrepreneurship and this should be made sufficiently attractive option. They should be equipped with the right skills to turn ambitions into successful ventures. For entrepreneurial ventures to develop

2.2. Entrepreneurship - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 5~6

The foremost importance of the entrepreneur to the economy is the creation of new output. At any given point in a society, production is stagnant.

In today’s business world, entrepreneurship is fundamental for the whole society and businesses (Blundel and Lockett, 2011). There is a considerable interest in entrepreneurial activity worldwide including the United Kingdom. Between 2010 and the start of 2015, UK experienced up to 36% increase