Entrepreneur
1. Introduction The entrepreneur is an important economic factor in the economic market, the roles of which have substantial influence on the growth of the venture. The core objective of this essay is analyzing the relevant change of the role played by the entrepreneur regarded as a manager in the different periods of a venture’s life cycle. This essay consists of four main parts which are used to illustrate that topic. Above all, clarify the main aim and structure of this essay in the introduction. And then, illustrate the background knowledge of the entrepreneur and the venture and analyze the relationship between them. Next, on the basis of the dissimilar stages of the life cycle of a venture, exactly and accordingly analyze the roles played by the entrepreneur, finding the changes of the roles among them. Finally, conclude the change of the role played by the entrepreneur and the importance of the entrepreneur in a venture. Meanwhile, some management theories, management models and the case—Body Shop will be applied to the analysis.
2. Entrepreneur and venture
2.1 Entrepreneur
2.1.1 The concept of the entrepreneur
The entrepreneur can be considered as a manager, an agent of economic change or an individual (Wickham, 2004, p.p7). In the management, the entrepreneur is usually regarded as a manager who brings together the productive resources, labor and property to produce products and services to gain profit, undertaking the risk of failure. However, entrepreneurs are greatly different from the classical managers, for they focus more on change, opportunity and organization-wide management. 2.1.2 The classification of the entrepreneur
Landau (1982) proposed that risk bearing and innovativeness, two independent parameters which can be defined as high or low, can be used to classify entrepreneurs. On the basis of two opposite standards of both factors, entrepreneurs are separated into four types, which is shown in figure 1.
Figure 1
2. Entrepreneur and venture
2.1 Entrepreneur
2.1.1 The concept of the entrepreneur
The entrepreneur can be considered as a manager, an agent of economic change or an individual (Wickham, 2004, p.p7). In the management, the entrepreneur is usually regarded as a manager who brings together the productive resources, labor and property to produce products and services to gain profit, undertaking the risk of failure. However, entrepreneurs are greatly different from the classical managers, for they focus more on change, opportunity and organization-wide management. 2.1.2 The classification of the entrepreneur
Landau (1982) proposed that risk bearing and innovativeness, two independent parameters which can be defined as high or low, can be used to classify entrepreneurs. On the basis of two opposite standards of both factors, entrepreneurs are separated into four types, which is shown in figure 1.
Figure 1
References: Wickham, P., (2004). Strategic Entrepreneurship Great Britain: Pearson Education Limited. Landau, R., (1982). ‘The Innovative Milieu’, in Lundstedt, S.B. and Colglazier, E.w., Jr (eds) Managing Innovation: The Social Dimensions of Creativity, Invention, and Technology, New York: Pergamon Press. Brown, P., (1996). Anita Roddick and the Body Shop Great Britain: Exley Publications