What makes a good entrepreneur
What Makes a Good Entrepreneur?
The terms entrepreneur, manager and owner are very much in meaning yet exhibit different representations of business people who are present at the top management. Entrepreneur is a person who sets up a new organization or enterprise and accounts for accountability on his part of the risks that could come onto his shoulders for one reason or the other. When the discussion is of the for-profit organizations, the entrepreneur term replaces itself with founder. (Versi, 1999) This person is responsible for establishing a new entity or unit so that the establishment could provide an existing product or service into the form of a single new market, which could have a profit or non-profit result. The entrepreneurs have strong insights as regards to the opportunities that exist within the market and the threats that come as a result of the very same. The risks that could arise in the wake of these include personal, financial or professional ones so that opportunity could be grabbed with both hands. (Martin, 1997)
In different societies, the business entrepreneurs are regarded as the pivotal components of a social order. (Covin, 1999) Entrepreneur manages and runs an organization and manages the different undertakings of the enterprise. This enterprise could be a business which is normally associated with peculiar initiatives and foreseeable risks. An entrepreneur is also an employer of productive work or in other words of labor. He is also the contractor who deals with or initiates the process of entrepreneurship. The entrepreneur is the person who is responsible for running the system which is in place in a normal process. He is the one who organizes the whole process. Entrepreneur creates or sells a product and/or service so that he could earn a considerable profit/benefit. The entrepreneur is the risk bearer and an organizer within the business enterprise. More than anything else, an entrepreneur is a leader by sheer definition. An
The terms entrepreneur, manager and owner are very much in meaning yet exhibit different representations of business people who are present at the top management. Entrepreneur is a person who sets up a new organization or enterprise and accounts for accountability on his part of the risks that could come onto his shoulders for one reason or the other. When the discussion is of the for-profit organizations, the entrepreneur term replaces itself with founder. (Versi, 1999) This person is responsible for establishing a new entity or unit so that the establishment could provide an existing product or service into the form of a single new market, which could have a profit or non-profit result. The entrepreneurs have strong insights as regards to the opportunities that exist within the market and the threats that come as a result of the very same. The risks that could arise in the wake of these include personal, financial or professional ones so that opportunity could be grabbed with both hands. (Martin, 1997)
In different societies, the business entrepreneurs are regarded as the pivotal components of a social order. (Covin, 1999) Entrepreneur manages and runs an organization and manages the different undertakings of the enterprise. This enterprise could be a business which is normally associated with peculiar initiatives and foreseeable risks. An entrepreneur is also an employer of productive work or in other words of labor. He is also the contractor who deals with or initiates the process of entrepreneurship. The entrepreneur is the person who is responsible for running the system which is in place in a normal process. He is the one who organizes the whole process. Entrepreneur creates or sells a product and/or service so that he could earn a considerable profit/benefit. The entrepreneur is the risk bearer and an organizer within the business enterprise. More than anything else, an entrepreneur is a leader by sheer definition. An
References: • Covin, Jeffrey G. (1999). Corporate Entrepreneurship and the Pursuit of Competitive Advantage. Entrepreneurship: Theory and Practice Vol. 23 • Drucker, Peter F • Economy, Peter. (2003). Lessons from the Edge: Survival Skills for Starting and Growing a Company. Oxford University Press • El-Amin, Zakiyyah • Gannon, Martin J. (1987). Organizational Effectiveness in Entrepreneurial and Professionally Managed Firms. Journal of Small Business Management, Vol. 25 • Halal, William E • Harper, David A. (2003). Foundations of Entrepreneurship and Economic Development. Routledge • Hocker, Cliff • Martin, Stephen. (1997). The Impact of Privatization: Ownership and Corporate Performance in the UK. Routledge • Milner, Anthony • Ramsay, Allan. (2004). A Victorian Entrepreneur. Contemporary Review, Vol. 284 • Rogers, Edward S • Versi, Anver. (2006). Hail the Small-Scale Entrepreneur. African Business • Versi, Anver • Watkins, Jeff. (1998). Information Technology, Organizations, and People: Transformations in the UK Retail Financial Services Sector. Routledge Read more: http://www.ukessays.com/essays/business/entrepreneur.php#ixzz2pwJPgQZQ