The Practice Of Entrepreneurship Through Time And The Global Enterprise

1642 WordsMay 9, 20177 Pages
Introduction The practice of entrepreneurship has existed throughout history with the definition advancing through time and the global enterprise. During the life of Marco Polo, entrepreneurship was defined as the practice of being the “go-between” (Arthur & Hisrich, 2011, p. 2) in trade endeavors. Today, the definition includes: the development of ideas, comprehensive risk, commitment of time and resources, and vision with the overarching goal of holistic success and autonomy (Arthur & Hisrich, 2011). The entrepreneur exudes behaviors which foster initiative, orchestrate options, and accept responsibility for the success or failure (Arthur & Hisrich, 2011). Entrepreneurship has transformed the global marketplace and imprinted all…show more content…
These abilities increase an entrepreneurial leader’s creativity, intuition, and innovation. Consequently, without the ability to process information from a solid foundation, the cognitive skills are compromised. The behavioral responses reveal how the integrated aspects of personality, social ability, and cognitive processes converge. Shein et al. (2010) contended the successful entrepreneur would encompass behaviors of persistence, resilience, patience in uncertainty, and the acceptance that actions have consequence. This leads to motivated solutions which expose new options. The entrepreneur who exhibits negative traits will become angry, withdrawn, and isolated (Podoynitsyna, Van der Bij, & Song, 2011); therefore, unsuccessful integrative practices drive the decisions. Characteristics of Success or Failure Passion, purpose, innovation, and vision are common characteristics embodied within the successful entrepreneur (Gielnik, Spitzmuller, Schmitt, Klemann, & Frese, 2015). Motivation and a desire for autonomy increase the internal drive to develop planning and expertise (Luka & Robu, 2016). Positive characteristics of self-regulation and a self-perception increase competence and emotional control (Gielnik et al., 2015). The ability to limit emotional responses with balanced cognitive and behavioral processes convey a message of entrepreneurial leadership. Characteristics of strength will provide consistency and display a pathway for
Open Document