...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 number of new enterprises created by REDP trainees, (ii) the creation of new enterprises with and without wage employment, (iii) annual employment generation, (iv) annual incremental income and (iv) attainment of success rate. Thus, the impact of REDP is ascertained on the basis of changes in income and employment as a result of creation of new enterprises. The economics of REDPs is assessed with particular reference to costs and benefits of REDP. Cost includes expenditure incurred per trainee by agencies imparting REDPs, while benefits are taken into account as addition to value of produce and net surplus generated annually. The emphasis of the analysis was on major activities and agencies of the selected districts. Attempts were also made to estimate the Financial Rate of Return (FRR) of the Entrepreneurship Development Programme keeping in view NABARD’s financial contribution on the expenditure side and average net incremental income on income side. Impact of REDP 1. Enterprises set up with and without Wage Employment As mentioned earlier, 793 sample REDP trainees were selected from 1000 REDPs during the survey. Out of which information is available from 701 trainees. Among the 701 trainees, 460 trainees constituting 65.62 per cent were settled new job employment while 241 accounting for 34.38 percent were settled with new units. Details are displayed in table 8.1. 11. Settlement or Success...
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...Numeracy Advancing Education in Quantitative Literacy Volume 7 | Issue 1 Article 8 1-2-2014 Review of Financial Intelligence for Entrepreneurs: What You Really Need to Know about the Numbers by Karen Berman and Joe Knight, with John Case. H. L. Vacher University of South Florida, vacher@usf.edu Recommended Citation Vacher, H. L. (2014) "Review of Financial Intelligence for Entrepreneurs: What You Really Need to Know about the Numbers by Karen Berman and Joe Knight, with John Case.," Numeracy: Vol. 7: Iss. 1, Article 8. DOI: http://dx.doi.org/10.5038/1936-4660.7.1.8 Available at: http://scholarcommons.usf.edu/numeracy/vol7/iss1/art8 Authors retain copyright of their material under a Creative Commons Non-Commercial Attribution 4.0 License. Review of Financial Intelligence for Entrepreneurs: What You Really Need to Know about the Numbers by Karen Berman and Joe Knight, with John Case. Abstract Berman, Karen and Knight, Joe, with John Case. Financial Intelligence for Entrepreneurs: What You Really Need to Know about the Numbers, (Boston MA: Harvard Business Press, 2008). 285 pp. ISBN 978-1-4221-1915-0. From “The art of finance (and why it matters)” (Part One) through “Creating a financially intelligent company” (Part Eight), Financial Intelligence for Entrepreneurs is an engaging explanation and appreciation of financial statements and financial ratios. Short, easily digested chapters; just-in-time boxes to introduce terminology; easy, direct, in-text calculations...
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...“Entrepreneurs are born not made.” Critically analyse this statement with reference to the literature and to your experience of entrepreneurship. This essay aims to evaluate the various traits identified with entrepreneurs, and then establish whether entrepreneurs are born with these traits, or whether, they are shaped and developed through their life experiences. Put simply the purpose of this essay is to establish whether entrepreneurs are ‘born or made’. This essay focuses on two distinct schools of researchers in the field of entrepreneurship: The more traditional group of researchers has focused on the personality characteristics of the individual, the internal factors, whilst a second group of researchers have taken a social cognitive approach. They look at the relationship between an individual and his or her environment. The external factors include culture, role models, work experience, education, and environment. This essay looks at the early definitions of an entrepreneur, evaluates the literature which supports the theory that entrepreneurs are ‘born’, and also evaluates the proposal that there is a relationship between the individual entrepreneur and their social environment, that is, entrepreneurs are ‘made’. Cantillon (1756) defined the entrepreneur as engaging in business without an assurance of profits; thus the bearing of risk being the distinguishing feature of an entrepreneur. Jean Baptiste Say expanded on this by making the entrepreneur the pivot of the...
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... DEPARTMENT OF DEVELOPMENT STUDIES NAME : KALUBA PHIRI QUESTION: ENTREPRENEURS ARE BORN. DISCUSS The main objective of this essay is to discuss whether entrepreneurs are born or made. It will start by giving an elaborate definition of an entrepreneur and also highlight the characteristics which they possess. It will thereafter discuss with valid points raised on both angles of whether entrepreneurs are born or made. It will therefore justify with persuasive evidence that entrepreneurs are made. Finally a conclusion will be drawn. The entrepreneur character is one of the characters which strongly influence business around the world. This explains the need to understand the profile of such a character. An entrepreneur is a person who creates a new business, taking risks in achieving the objectives which they propose, to make profits and growth by identifying some important opportunities. An entrepreneur manages important resources, which he or she draws from different sources on a major power to persuade those who hold them. Many experts have sought to understand and describe the personality of the entrepreneur, because, although many people have good ideas to start a business, some turn these ideas into concrete businesses (Shapiro 1975). Burdus (3, 2007) An entrepreneur is said to be "a person with leadership qualities, able to take risks in order to exploit certain opportunities, their enthusiasm is based...
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...Entrepreneurs are born. Entrepreneurs are actually born. People are born with many inherent qualities, if they concentrate on that qualities then only that particular qualities would sharpen. Some qualities we would get from education & experience. Even if we concentrate on those particular qualities we would grow some level, but surely not grow to the entrepreneurship level. Though some, may be a few people who have been associated with people from the entrepreneurs level from long span of time, would learn & grow to that level. Learning is also an art with some people born with it. They are indeed born. Like in other areas like sports, technology etc. there are certain inherent skills needed to be ingrained in a person for him/her to succeed in their chosen field. If it was easy to acquire skills and become an entrepreneur the whole world would have turned to that and we wouldn’t have a recession or other such problems. To be an entrepreneur, one needs to have a certain amount of killer instinct and risk taking ability. A man went into a great city and asked an old man, where are these leaders born? The old man replied no leaders are born here only babies are born. BORN - According to me, attitude is the most important personal characteristic, and one that cannot be trained. The attitude of the entrepreneur affects the early success of the venture; the same attitude needs to be present in the firm’s employees to continue the entrepreneurial energy that creates competitive...
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...Title: “Entrepreneurs are born not made” - Discuss critically this statement based on a review of existing academic literature like you to review and interpret existing data/studies from academic data bases in order to come to a view. “Entrepreneurs are born not made”? In this report I will be discussing whether a person is born with traits to be an entrepreneur or can entrepreneur be made and developed. I will analysis, criticise and evaluate both part of the statement by reviewing academic literature and theories. Entrepreneurship is an activity that involves the discovery, evaluation and exploitation of opportunities to introduce new goods and services, ways of organizing, markets, processes, and raw materials through organizing efforts that previously had not existed (Venkataraman 1997, A general theory of entrepreneurship pg 4). However it can be quiet difficult to explain what makes an entrepreneur; according to Schumpeter (1911) an entrepreneur is a driven individual who is creative and who develop a new product, find new technology, corner a new market by “finding new combinations of (factors) of production”. Furthermore, various hypothesises have been drawn upon “Entrepreneurial Traits”; these can be described as the “special” characterises associated with an individual some of which include self confidence (Liles, 1974), need to succeed (McClellan, 1961), control (Evans and Leighton, 1989) and a strong belief in the outcomes of ones actions s (McGhee and Crandall...
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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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...able to utilize opportunities and willing to take risks. Whatever the definition of entrepreneurship, it is associated with creativity, literacy, innovation and change that are in turn vital for competitiveness in the wake of increasing globalization. Therefore preparing successful entrepreneurship means advancing the competitiveness of a business. SME and entrepreneurship development are two very important factors in reducing the poverty of any country. For many countries SME is the backbone of their economy. In the wake of rising importance of entrepreneurship, various disputes over it, have increased. One such dispute is weather the entrepreneurs are born or made. The primary objective of this work is to compare and contrast the two schools of thought and based on the research make a reasonable conclusion. Entrepreneurs: born or made? Firstly it is worth to identify what actually entrepreneurship is. Generally talking, there are many definitions of entrepreneurship. Many authors are still struggling with relevant definition. Many recognize three important themes deriving from various definitions – namely, that entrepreneurship involves risk and uncertainty, managerial competence and creativity. According to Kent (1990) ‘entrepreneurship is drawing from a wide range of skills capable of enhancement to add value to a targeted niche...
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...will be describing the personality traits and characteristics that are associated with entrepreneurs who are successful. I will also be expanding and comparing on my own personality and characteristics to those found in successful entrepreneurs. Firstly, there are many types of traits that entrepreneurs have. Some of these traits include being able to live with uncertainty and take risks, self-confidence, internal locus of control and more. I will be finding out if successful entrepreneurship is based upon the personalities of individuals or not. Previously, I was never really into entrepreneurship until I started college a few years ago. Having done a fashion design course with sewing and marketing experience, this really made me think about starting my own fashion business in the near future. I had the privilege of gaining further experience and knowledge about the fashion industry through work experience with designers and working at London Fashion Week. This enabled me to talk to designers and have an insight on how they became successful as it is a hard market to have a breakthrough in. Having seen how other designers started out, even with minimal experience and no further education made me more determined to make my dream a reality considering I had experience and now in further education to obtain a degree. On the other hand, there is no success manual in becoming an entrepreneur, therefore I believe it depends on character and personality traits life has taught people...
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...Entrepreneurship Entrepreneurship Entrepreneurship assignment 1500 word: Interview with Pearse Kelly, Spar owner In the following assignment I will describe in a case study form the interview in which I undertook with Pearse Kelly that is the owner of the local Spar in my area Maghera. I will outline his role as an entrepreneur and explain how he started off and got to his success. Entrepreneurship and school of thought – Entrepreneurial Trait Approach We can define an “entrepreneur” as someone who demonstrates initiative by organizing a venture to take benefit of an opportunity and, as the decisionmaker, decides what, how, and how much of a good or service will be produced. It is someone who is determined and sees to the future and is not afraid of taking risks in life. That is where Pearse fits in. I asked Pearse firstly, “How would you describe yourself?” Pearse replied promptly and convincingly with “I am very much so a determined, hard-working individual, I am a mirror-image for others to see themselves through and someone who strives for success in everything they do and not afraid to take upon the impossible”. David McClleland (1961) describes an entrepreneur as “a person with a high need for achievement [N-Ach]. He is energetic and a moderate risk taker.” To further the interview I asked Pearse a question regarding his background history, he began telling me about how his current firm (SPAR) had been a small confectionary shop owned by his grandmother which was attached...
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...Within the last 25 years the number of entrepreneurship courses increased twentyfold and amazon.com lists over 45,000 books dealing with entrepreneurship. This demonstrates the increasing interest in entrepreneurial education and illustrates that there is a strong belief that entrepreneurship can be taught. In contrast, successful business leader as Zineb Hefiri didn’t attend any entrepreneurial courses and argue that her success came from her life experience.1 Moreover, there are plenty stories about entrepreneurs who run a business without a college degree, some without even finishing high school. Are they the exception or is being an entrepreneur an art that you either have or don't have? What is the road to be a successful entrepreneur? Does entrepreneurship education make people better entrepreneurs? Or are life experiences enough to establish the required skills and knowledge? The purpose of this dissertation paper is to identify what makes a successful entrepreneur and to determine to which extent entrepreneurial education has more impact than a person’s life experiences. ¬¬¬¬¬¬¬¬¬¬¬¬¬¬___________________________________ 1Mondo, M 2011, Entrepreneurship: Managing new venture growth, Pearson Education, viewed 04 December 2011 Facts about Entrepreneurial Education As a matter of fact, there are no conclusive studies that directly examine the benefits provided by entrepreneurship education. Hence researchers are unaware of the implications entrepreneurship...
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...carried out when the entrepreneur found some undiscovered market, unsolved problems, new technology or new form for firms and they set up new business to serve the particular market or solve it. Entrepreneurship involves in business activities which gain social and financial benefits or profits by bearing uncertainty and risk. 1b. There are ten myths of entrepreneurship consists of entrepreneurs are doers, not thinkers, entrepreneurs are born, not made, entrepreneurs are always inventors, entrepreneurs are academic and social misfits, entrepreneurs must fit the profile, all entrepreneurs need is money, all entrepreneurs need is luck, entrepreneurship is unstructured and chaotic, most entrepreneurial initiatives fail and entrepreneurs are extreme risk takers….the gamblers. Myth 1: Entrepreneurs are doers, not thinkers Although people see entrepreneurs as someone who dare to do something without considering the risk, but actually entrepreneurs do think before they take action or make decision. Entrepreneurs usually spend time to think of the new invention, new market from the daily problems or experience. Once they discovered there is opportunity to start the business to serve the need, they actually produce clear and complete business plan before they involve in the business. They have carefully considered of the risk and consequences of starting the business and turn their thought into action. Myth 2: Entrepreneurs are born, not made There is idea said...
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...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.Sc in Computer Science from the University of Calgary. In 1983, he earned a Ph.D in Computer...
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...Succeed Fundamentals of an Entrepreneur 04-75-290-01 Submitted to: Dr. Jonathan Lee Submitted By: Ryan Thrasher Submission date: March 3, 2012 The mind and spirit of an entrepreneur are that unlike any others. In today’s economy, it takes more than the basic traits and skills to succeed in founding and running a successful company. One has to seek opportunity where no one else does and be willing to take adverse risks in order to get ahead. The risk involved in creating your own business venture in today’s economy is astronomical compared to times prior. Charles Dawrin’s theory of ‘survival of the fittest’ reigns supreme in the business world. The ability of a company to create, innovate, differentiate, and grow often determines their chance of surviving. Based on a stats derived from Industry Canada (2009) “Business failure statistics show that about 96 percent of small businesses (1–99 employees) that enter the marketplace survive for one full year, 85 percent survive for three years and 70 percent survive for five years (Key Small Business Statistics - January 2009, Industry Canada). This is why it is imperative for a young and aspiring entrepreneur; to not only encompass a vast array of specialized traits but also be willing to take on the adverse risk involved in following through. The focus of this paper will support those desired traits and characteristics that helped define the great Richard Branson as an entrepreneur, and propelled him to found...
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