Account Why Some Are More Enterprising Than Others I
Account for why some enterprises become successful innovators and why others do not.
It is a difficult question to answer why some enterprises become successful innovators while others do not especially in these days of rapid technological changes, high inflation and highly fluctuating exchange rates in the world of borderless world. The first reaction is it could be due to the strong entrepreneurial leadership of the enterprises in terms of knowledge management or an acute sense of financial investment and acumen. This however raises several questions: who are successful entrepreneurs? What are the qualities of a successful entrepreneur or even an entrepreneur? How does one sustain a period of consistent growth and development? How does one translate personal commitment to organisational growth?
Let me first start with who is an entrepreneur? There are several ways of explaining this but I think I would like to say that an entrepreneur is one who takes risks to invest and puts his personal commitment to succeed above everything else and this is closely linked with entrepreneurship which means taking risks for a business or venture but anyone who already owns a business will tell you that there 's much more to do than that. This brings in to consideration the issue what are the qualities and skills of an entrepreneur?
The original explanation came from Peter Shumpeter, according to whom; an entrepreneur is “An innovator who creates new industries and precipitates structural changes in the economy”. (Schumpeter 1934) and though there have been some amendments to this, this definition remains relevant to this date.
According to Lyve Alexis Pleshette, Senior Staff Writer, PowerHomeBiz.com, there are five must have skills that are needed to become an entrepreneur and develop to succeed in today’s competitive market.
“If you are thinking of starting a business, you will need a broad array of entrepreneurial skills to succeed in today 's competitive market. You must
It is a difficult question to answer why some enterprises become successful innovators while others do not especially in these days of rapid technological changes, high inflation and highly fluctuating exchange rates in the world of borderless world. The first reaction is it could be due to the strong entrepreneurial leadership of the enterprises in terms of knowledge management or an acute sense of financial investment and acumen. This however raises several questions: who are successful entrepreneurs? What are the qualities of a successful entrepreneur or even an entrepreneur? How does one sustain a period of consistent growth and development? How does one translate personal commitment to organisational growth?
Let me first start with who is an entrepreneur? There are several ways of explaining this but I think I would like to say that an entrepreneur is one who takes risks to invest and puts his personal commitment to succeed above everything else and this is closely linked with entrepreneurship which means taking risks for a business or venture but anyone who already owns a business will tell you that there 's much more to do than that. This brings in to consideration the issue what are the qualities and skills of an entrepreneur?
The original explanation came from Peter Shumpeter, according to whom; an entrepreneur is “An innovator who creates new industries and precipitates structural changes in the economy”. (Schumpeter 1934) and though there have been some amendments to this, this definition remains relevant to this date.
According to Lyve Alexis Pleshette, Senior Staff Writer, PowerHomeBiz.com, there are five must have skills that are needed to become an entrepreneur and develop to succeed in today’s competitive market.
“If you are thinking of starting a business, you will need a broad array of entrepreneurial skills to succeed in today 's competitive market. You must
References: Barney, J. B. And Hesterley, W.S., 2008, Strategic management and Competitive Advantage : concepts and cases, Pearson, Prentice Hall, pp 5. Barney, J. B. And Hesterley, W.S., 2008, Strategic management and Competitive Advantage : concepts and cases, Pearson, Prentice Hall, pp 74. Class notes, 2010, Powerpoint Presentation, Week 5. European Commission, 2009, Enterprise and Industry, Glossary Innovation <http://ec.europa.eu/enterprise/policies/innovation/glossary/index_en.htm>. Hagedoorn, John 1996, “Innovation and Entrepreneurship: Schumpeter Revisited”, Industrial and Corporate Change vol.3, number 3, 1996, pp 893. SCORE, 2010. www.score.org., “Do You Have the Mindset and Skills to be an Entrepreneur?”, <http://www.score.org/mindset_skills_entrepreneur.html> Schumpeter, J