...As for my first assignment for entrepreneur’s subject, I would like to discuss about the criteria and how the entrepreneur should think. First and foremost the entrepreneur character can be build, can be groomed from experienced and some are born with the DNA in their blood!. Who is the entrepreneur? Entrepreneur is someone can see opportunities and situation in which new goods, services, raw materials and organizing methods can be introduced and sold at greater than their cost of production. Someone with the character of entrepreneur will always see problems, challenges and uncertainties as an opportunity for them. The only job that don’t have any qualification to apply is an entrepreneur. Anybody can be an entrepreneur, once they sustain in this field over failure because failure is the only thing guaranteed. How they respond to failure determines their success. Successful entrepreneurs are paid for their high tolerance for stress and pain. Setbacks, obstacles and challenges are painfully common elements of entrepreneurship. Most people react to these hurdles with stress and pessimism, with an attitude that obstacles are negative experiences that only hinder progress. As an entrepreneur, they encounter so many challenges they simply can’t afford to react this way. Instead, successful entrepreneurs view challenges as opportunities. Each challenge or setback reveals a key opportunity to grow -either to improve upon an existing weakness or take measures to avoid experiencing a...
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...Entrepreneurs are born and not made An entrepreneur is ‘a person who has possession of a new enterprise, venture or idea and assumes significant accountability for the inherent risks and the outcome.’ So are entrepreneurs born? Or made? There have been many debates from businessmen to academics alike on whether entrepreneurs are born or made, but is it as straight forward as that? In this essay I will evaluate arguments both for and against this statement and conclude it with my own personal observation. The argument for this statement that entrepreneurs are born is a scientific one, with the questions being are there specific entrepreneurial genes and/or chromosomes. Some of the characteristics credited to entrepreneurs include extroversion, risk taker, persistence, independent, innovative, opportunistic and the need for achievement. These skills are the reason many believe they are from nature as they go above and beyond those of an ordinary office manager. Many believe that these are skills are innate in a person, that they are born with them and they are skills and characteristics that cannot be taught. (Scott Shane, wall street journal) ‘40 percent of the variation in the tendency to be an entrepreneur is inherited.’ Some people say that not anyone can become an entrepreneur; they have to have the right innate qualities from birth alongside the external influences for their talents to be recognized in business. “If the environment is not conducive then entrepreneurial talent...
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...the ideas that most often lead to successful business first must be something the entrepreneur is truly passionate about. Idea multiplication and its exemplification of IDEO is one of the most useful processes that helps entrepreneur moving from the seed of an idea to something that is robust, exciting and powerful. There are four basic steps in this process: (1) gather stimuli, (2) multiply stimuli, (3) create customer concept and (4) optimize practicality2. Second, the idea is a strong opportunity as measured on the opportunity checklist. To be sure of having strong opportunity, entrepreneurs need a deep understanding of their customer, preferably knowing the customer by name. Better opportunities will have bigger market size and potentially growth in the future. Furthermore, these customers will buy the product frequently and pay a premium price for it (strong margins). Thus entrepreneurs need to be students of the marketplace, learning what trends are converging, and how do these shape customer demand today and into the future3.In order to prevent customers from shifting their attention to competitors, entrepreneurs need understanding competitive dynamics so that entrepreneurs can shape their opportunities to each the customer better than the competition can. This trend results in the attributes of holistic and fluid for entrepreneurial environment. Besides, it is necessary for entrepreneurs to know the way they source their raw materials and what government regulations mean...
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...then says that this was also one of the best decisions he ever made. I believe that any decision he makes will end up working out because he believes in himself. He says you can’t connect the dots looking forward, only looking backwards afterwards, so you have to trust that they will connect. You have to trust in something; your gut, karma, destiny, something. He believed in something whatever that something was. Steve Jobs said he used to walk downtown to receive one good meal a week. He slept in his friends dorms every night. He made the sacrifice, he took the risk, never settled, and he never gave up. He did what he loved and did “great work”. Every characteristic of an entrepreneur I can think of, Steve Jobs has it. As a future entrepreneur, this video inspires me to make sacrifices. Every good entrepreneur must make some sort of sacrifices in their life to do what they love and truly believe in. Whether that’s living off ramen noodles for a couple years, sleeping on the floors of your friends dorm room, or giving up social life sacrifices must be made in order to succeed. “If you live each day as...
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...Entrepreneur: Entrepreneurs built and create the future and that they are to be found in every walk of life and in every group of people.”A person who habitually creates and innovation built something of recognised value around perceived opportunities”. In this definition there is some key word s to define. ‘A person’ can be a group of a people, a organization. ‘Habitually’ is an important characteristic of entrepreneurs. The true entrepreneurs just cannot stop being an entrepreneur habitually. ‘Creates’ is used to describe that an entrepreneurs are start from the scratch and develop new thing. Entrepreneurs are creator first and builders second. ‘Innovate’ means to build something new. For entrepreneurs every problem is aa new opportunities. ‘To build something’ describe the outcome. ‘Perceived opportunities’ is important to provide direction and focus. (Bill Bolton and Jhon Thompson) Characteristics of an entrepreneur: According to the Bill Bolton and Jhon Thompson entrepreneurs has some key Characteristics. Ability to take the calculated risk Need to achieve Initiative and taking responsibility Orientation to clear goals Creativity Honesty and integrity Independency Entrepreneurial attributes: Attributes are being considered as the best predictors of an intention to a particular behavioral act. The model is based on psychologists Fishbein & Ajzen (1980) to explain human action is a part of behavior. 1) Clarity of vision and...
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...Becoming an entrepreneur is definitely a goal of mine. I would like to develop a business in the future that will allow me to become successful and earn a lucrative income. Entrepreneurs enjoy an increased level of flexibility and independence and can choose tasks that are both rewarding and profitable. It is critical for entrepreneurs to select a new business venture that interest them. Also, gaining an in-depth knowledge of subject matter pertaining to business is extremely critical. Entrepreneurs must do their homework before starting a new business venture. Entrepreneurs can also help others individuals become successful and achieve goals. The ability to motivate and empower others is a vital characteristic that entrepreneurs must possess. I certainly would love to become an entrepreneur, hopefully in the near future. I am not exactly sure what new business venture I would like to start, but I am certain that becoming an entrepreneur is my number one professional goal. Being an effective leader is extremely important for an entrepreneur. Entrepreneurs. must have the ability to lead individuals and get the best out of them. Entrepreneurs must also be effective communicators. The must be able to individuals to work together to achieve specific tasks. Entrepreneurs must create a vision and must share that vision with the employees. Entrepreneurs must also be able to select and recruit individuals that are competent and knowledge about their tasks. Entrepreneurs must develop...
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...1) What is entrepreneurship? What are essential traits required to be an entrepreneur? What traits do you have or you don’t have to be an entrepreneuer? An entrepreneur is someone who organizes, manages, and assumes the risks of a business or enterprise. An entrepreneur is an agent of change. Entrepreneurship is the process of discovering new ways of combining resources. When the market value generated by this new combination of resources is greater than the market value these resources can generate elsewhere individually or in some other combination, the entrepreneur makes a profit. Successful businesspeople have many traits in common with one another. They are confident and optimistic. They are disciplined selfstarters. They are open to any new ideas which cross their path. Here are ten traits of the successful entrepreneur. 1. Disciplined These individuals are focused on making their businesses work, and eliminate any hindrances or distractions to their goals. Successful entrepreneurs are disciplined enough to take steps every day toward the achievement of their objectives. 2. Confidence The entrepreneur does not ask questions about whether they can succeed or whether they are worthy of success. They are confident with the knowledge that they will make their businesses succeed. They exude that confidence in everything they do. 3. Open Minded Entrepreneurs realize that every event and situation is a business opportunity. Ideas are constantly being generated about workflows...
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...• An entrepreneur is someone who can take any idea, whether it be a product and/or service, and have the skill set, will and courage to take extreme risk to do whatever it takes to turn that concept into reality and not only bring it to market, but make it a viable product and/or service that people want or need," • Most people think being an entrepreneur is all about coming up with an idea, but that's just one part • entrepreneurship entails recognizing the right opportunity, finding resources — such as funding and tools — to pursue the opportunity and creating the right team to do so . • Although there are no specific traits all entrepreneurs share, there are certain characteristics that most successful entrepreneurs possess • Ability to plan: Entrepreneurs must be able to develop business plans to meet goals in a variety of areas, including finance, marketing, production, sales and personnel. Communication skills: Entrepreneurs should be able to explain, discuss, sell and market their goods or services. Marketing skills: Good marketing skills, which result in people wanting to buy goods or services, are critical to entrepreneurial success. Interpersonal skills: The ability to establish and maintain positive relationships with customers and clients, employees, financial...
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...Entrepreneurs An Entrepreneur is a person who sets up a business or businesses, taking on financial risks in the hope of profit. An entrepreneur is motivated by a lot of things mainly being money and fame. However some also are motivated by ethic because it is what they believe is the right thing to do. Although many may think that money is the main motivation for entrepreneurs some entrepreneurs have said that they are more driven by personal achievement although money does give them that financial stability. The skills that an entrepreneur needs to have is that they have to be a risk taker and have a vision and belief for what they are doing. They must be creative and create something original and different from other products as people will not have a reason to buy from them if it is the same. They have to work a lot of hours and put in a lot of pre-production in order to start up their business because at the start they won’t have staff and in order to get everything done and started up they will need to put in a lot of their own time. They must also ensure that they get the right people on board and have good communication skills so that they can persuade people on why they should use their product. The different leadership styles used in businesses are autocratic, Bureaucratic, Laissez-faire, democratic, and others. Leadership styles may change over time because the company may become bigger and the demand may be bigger than when they started so more production will...
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...OF AN ENTREPRENEUR: An entrepreneur is one who: 1. Scans the environment for business opportunities 2. Evaluates the these opportunities in the context of personal capabilities, strength and weakness 3. Arranges the capital and obtains the necessary licenses required to start an enterprise 4. Acts as Guaratar for the financial institutions 5. Acquires or develops technical know-how 6. Starts and runs the unit SUCCESSFUL ENTREPRENEURs ARE THOSE WHO: 1. Have identified goals 2. Are willing to risk time and money 3. Have ability to manage i.e. plan, organize and control 4. Are willing to put in efforts to develop good relations with the customers, employees etc. QUALITIES REQUIRED TO BECOME ENTREPRENEUR: 1. Risk taking ability 2. High level of motivation 3. Business acumen 4. Innovator 5. Self confidence 6. Leadership Qualities 7. Communication skills 8. Flexibility 9. Managerial competence 10. Able to accept challenges 11. Problem solving ability 12. Able to digest failures and learn from experience CLASSIFICATION OF ENTREPRENEURS: 1. STAGE OF DEVELOPMENT: a) First generation entrepreneurs: Those who start an industrial unit by means of their innovations. Typical innovators who combine different technologies to produce a marketable product. b) MODERN ENTREPRENEUR: One who undertakes the business ventures which will get along with changing market needs and undertakes projects in those areas of current market trend. c) Classical entrepreneur: One who...
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...is everyone dreams. Nowadays, people want to be an entrepreneur because the difficulty to get a job. But, not all the people success being an entrepreneur, many “wall” that they should passed. An entrepreneur is someone who build capital through risk and intiative. Being an entrepreneur is not easy, many things that they should do to develop their business. The act of being entrepreneur called entrepreneurship. In Indonesia, the chance of being an entrepreneur is really big, beacuse Indonesian people always be curious about anything new and unique. So, if there is something new and many people talk about it, another else want it too. An entrepreneur should handle all the things by themself, like searching for employees, manage the money and goods or services (based on their business), made something different to get many buyers, and they also should be creative and competitive to beat many competitors. For example; Blackberry made an inovation in communicating so many people in Indonesia buy their product. They also should deal with many things that came to destroy their business, like lazy employee, management mistakes, lack of experience, poor financial control, failure to develop a strategic plan and the others. Being an entrepreneur have many benefits, for example create their own destiny, make a difference, reach their full potential, and they do what they enjoy and have fun at it. But, besides being an entrepreneur has benefits, they also has many risk, like, long...
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...them together. In 1869, Edison comes up with a Boston steamship, landed in New York City. This project left him poor and penniless, and in debt. Today with Thomas Edison electrical invention we now have the ability to have electricity to turn appliances on and off like dishwasher, washers and dryers. According to Anita Ruddick, founder of the hugely successful fair trade outlet The Body Shop’ said, “Nobody talks of entrepreneurship as survival, but that’s exactly what it is and what nurtures creative thinking. Innovation plays a large role in the study of entrepreneurship and the two ideas are closely linked. Entrepreneurship involves the creation of new products with new ideas at the forecourt of new products and it is important that entrepreneurs have the imagination and vision in order to make their ideas a success. Anita Roddick develops and markets natural cosmetic products during the research on Anita Roddick I learned she looks for employees who show their interest for what they are doing...
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...now us set for his children and his grandchildren. Many entrepreneurs have very strong characteristics and similar ambitions as Tino has. It is said that to have a successful business, one must obtain entrepreneur qualities. Diligent and hard working, they strive through the ups and downs of start-up companies as I was told during the interview with Mr. Corona. They are "self starters" and have a superior belief in themselves; this is so true because when Tino had challenges to overcome for example a challenge that he had to overcome was the feeling of giving up. Tino stated that “he was not seeing the results he thought he would see at first in terms of the income and his funds were running out. He overcame that by stepping back and evaluates his product, service, target market, and his marketing strategies”. (Corna, Tino, 2010). An entrepreneur has to be patient and wait. From hearing Tino success, I know that businesses take time and nourishment. It is obvious that it takes years for a small business to even rise up enough to go public. An Entrepreneur are very consistent and usually considered work alcoholics. Entrepreneurs are willing to stay with a business during rough times or are able to sell and venture to a new business opportunity as Tino did when he had too much on his plate. You learn to plan ahead and have good self-discipline in managing your own time. I believe it takes many qualities to be an entrepreneur,...
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...Ariandna Nerrise S. Amoranto 10-Faith List of innefable intrapreneurs List of innefable intrapreneurs Who is an Intrapreneur? An Intrapreneur are those who take hands-on responsibility for creating innovation within any kind ofEntrepreneur within an exixting organization. An entrepreneur within a large firm, who uses entrepreneurial skills without incurring the risks associated with those activities. Intrapreneurs are usually employees within a company who are assigned a special idea or project, and are instructed to develop the project like an entrepreneur would. Intrapreneurs usually have the resources and capabilities of the firm at their disposal. The intrapreneur's main job is to turn that special idea or project into a profitable venture for the company. A.James Gosling B.Personal Information * Born on May 19, 1955 (age 60) Near Calgary, Alberta, Canada * Residence:San Francisco Bay Area,California, United States * Nationality: Canadian * Institutions: Sun Microsystems,Oracle Corporation,Google,Liquid Robotics,Typesafe Inc. * Alma mater: Carnegie Mellon University University of Calgary * Known for Java (programming language) C.Story/Profile James A. Gosling, O.C., Ph.D. (born May 19, 1955 near Calgary, Alberta, Canada) is a famous software developer, best known as the father of the Java programming language. In 1977, James Gosling received a B...
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...Young Entrepreneur Essay Ever since I was two or three years old, I was very inquisitive about business because my father was and is an entrepreneur. My father had several small businesses and he finally settled on air-conditioning. So during the time that I was younger I was always at my father’s side with every business that he embarked upon. The spirit of entrepreneurship was growing in me over time. I never knew that at a certain point I would be on the same path. At the age of five I began cooking pies with my father, to sell in his catering business. So by the age of thirteen my skills had become good enough for me to sell my own pies. One day I asked my father for a pair of pink Michael Jordan shoes. He asked how much do they cost? I told him $200, which I did not think was too much for my father. At this point my father told me I needed to start my own business so that when I made my $200 I could buy my own Michael Jordan’s. With my father’s help I began my own pie business. I’ve made $200 several times, but I still haven’t bought those Jordan’s yet because I did not want to spend my own money. I’ve learned how to be responsible with my own money. With that responsibility of money, has begun the management and organization of my life. So I begin to live my life on purpose and the fact that I’ve been volunteering through teen court and library work, to hopefully achieve scholarships so that I may go to college to become a lawyer and a business woman is progressive....
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