Entrepreneurship

Over the past decade, entrepreneurship has emerged as one of the most important forces in business and management study of the world economy (Meyer, G et al. 2000). Entrepreneurship has demonstrated that the definition of success is not only due to luck. There is no absolute definition of an “entrepreneur” as it depends on the perspectives and argues of people. Entrepreneurs have multiple characteristics but most numbers of them are common with successful businesspeople. Any individual that starts a business is referred as an entrepreneur but not all small business owners are considered as entrepreneurs. There are some differences between “entrepreneurs” and “business owners”. It is important to understanding about the concept of “entrepreneurial self-efficacy” and how it related to the performances. In recent years, entrepreneurs’ self-efficacy is also plays an important role to develop the intentions of entrepreneurs as well as influences their actions.

Entrepreneurship is referred as many different competencies such as risk – taker, fascinated discoverer that always having new ideas to change. They have high self-confident to face with any challenges and situation could happen. It could be regarded to successful businesspeople as good entrepreneurs are not success because of lucky. They are smart and they are smart enough to realize when they are getting lucky (Peabody, B 2005). It also does not mean that all of entrepreneurs are going to be successful however, these inspired creatures starting with fundamental innovative, they work hard, independent and looking for chances to make things different. There are too many definitions of this term that depending on which criteria of majors and jobs.
According to Stepheson (2013) that successful entrepreneurs have 25 common characteristics such as they do enjoy and take things seriously of what they are doing. Everything is planned very carefully and manages resources very wisely. They create the competitive

References: Boyd, N & Vozikis, G 1994, The influence of Self-efficacy on the development of entrepreneurial intentions and actions, viewed on 3rd May 2013 Busenitz LW & Barney JB 1997, Differences between entrepreneurs and managers in large organizations: Biases and heuristics in strategic decision making. Journal of Business Venturing 12: 9-30 Carsud, A & Brannback, M 2009, Understanding the entrepreneurial mind, Springer, International Studies in Entrepreneurship, NY Mayne, R 2012, the difference between the business owner & the entrepreneur, viewed on 3rd May 2013 Meyer, GD, Heppard, K 2000, entrepreneurship as strategy: Competing on the entrepreneurial edge, Sage Publications Inc., United States of America Simon M, Houghton SM, Aquino K 2000 Cognitive biases, risk perception and venture formation: How individuals decide to start companies. Journal of Business Venturing 15: 115-134 Stephenson, J 2012, 25 common characteristics of successful entrepreneurs, viewed on 3rd May 2013 Teoh, L 2011, Different between an entrepreneur and a small business owner, viewed on 3rd May 2013