The Scope Of Entrepreneurship Covering One Local

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?

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.

Entrepreneurs are risk takers in the market. They are willing to gamble their hard work for a business that may fail or succeed. Many fail to keep their business alive, however; others are lucky to compete and survive in the market. Entrepreneurs like Maribel Galsim, owner of Maribel’s Daycare, were successful in their business. Maribel’s Daycare was successful because of hard work, patience, and being adaptable.

Entrepreneurs a good ability within themselves, a knowing that they can accomplish may they take their minds as well. Most people in society have a settling mindset; they accept what life deals to Entrepreneurs on the other hand, the ability to see the obstacle in front of them as Markets. to accomplish something great. This is a Major Life-Changing Mindset.

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

Entrepreneurs are hard working, innovative people who enjoy taking risks. They accept their failures and work back up to success. When they fall hard to the ground, they rise back up to the top with another new invention. There are countless of thriving entrepreneurs in the world today. Two of the most well known entrepreneurs are Thomas Edison and Steve Jobs.

Most successful entrepreneurs exhibit certain characteristics. Some entrepreneurs are open-minded, able to learn quickly, and skilled at conceptualizing.

An entrepreneur is “a person who organizes and manages a business with considerable initiative and risk”. In other definitions an entrepreneur “identifies an opportunity or a gap in a market and evaluates the risk related to the establishment of the business and is prepared to take the associated risk to start the business in the quest for making profit; and has the ability to obtain the resources to establish and grow a business”. Entrepreneurship exceedingly relies on entrepreneurs to start-up, develop and produce companies across the use of their

Francisco Cantor, Booth ’16, was bitten by the entrepreneurship bug during his undergrad days. He built a company for importing and distributing mobile phone accessory in Venezuela. The company was a huge success. He sold it off after some time, and tried to venture into another vertical- Retail. This venture turned out to be a total failure. Upon reflection he realized that the offerings were too high end compared to what people were looking for.

Entrepreneurs also require certain characteristics that are necessary for success. The characteristics of many entrepreneurs include spontaneous creativity and a willingness to make decisions in the absence of solid data. He or she may be driven by a need to create something new or build something tangible. As new enterprises have low success rates, a person in this role must also have considerable persistence. He or she may have the greatest chance of success by focusing on a market niche either too small or too new to have been dominated by established businesses.

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.

A remarkable amount of people most definitely agree that an entrepreneur is someone who started his or her business. Understand that this bland definition does not quite give a full understanding of entrepreneurship. When launching any form of entrepreneurial leap, it will create circumstances that can make you better as a person mentally, physically, spiritually. By understanding your passion and visualizing the dreams you possess can push start your drive to become an entrepreneur. Entrepreneurship also requires a massive amount of trust in not only for yourself but your product and employees. At one point of most entrepreneurs life they have gone through the worst imaginable, having resilience most definitely sets them apart from the average. Even though it is extremely difficult to accept tough times, your dream should not go on pause. As an entrepreneur having patience and controlling the situation, especially tough ones is a major key factor on entrepreneurship. Thus being said there are 5 great qualities that describe a successful entrepreneur resilience, agility, Patience, trust, and passion.

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

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

Entrepreneurship refers to the act of investing in productive capital and assuming risk for productive ventures. An entrepreneur is an individual who purchases factors of production and combines them to produce consumable output. Entrepreneurs are distinguished from capitalists- who rent out capital to entrepreneurs- and workers, who sell their labor to entrepreneurs. Entrepreneurs are indispensable to the functioning of any economy. Entrepreneurs grow economies by creating new output, increase efficiency in economies, allocate society’s resources efficiently, and serve consumers and job-seekers.