Free Essays on Entrepreneur

Entrepreneurial leadership is very crucial to an individual and to a corporation’s success. Entrepreneurial firms are a major source of change and innovation. They create jobs, new tax revenues, and other transfers of money. At a time when U.S. productivity growth is lagging behind other countries, and when our large corporations are laying off workers and focusing on core businesses, entrepreneurial firms assume a more significant role; they do what large companies are not doing. Entrepreneurship is defined as â€Å"The process of creating value by bringing together a unique package of resources to exploit an opportunity.† (Fournies) The process itself consists of the set of activities necessary to identify an opportunity, develop a business concept, and then manage and harvest the venture. As a process, it has applicability to organizations of all sizes and types. The entrepreneurship construct has three underlying dimensions which consist of innovativeness or the development of novel or unique products, services or processes. It also consists of risk-taking, or willingness to pursue opportunities of having a reasonable chance of costly failure or an emphasis on persistence and creativity in overcoming obstacles until the innovative concept is fully implemented. Entrepreneurial leadership within management success for entrepreneurs requires innovation. There are several ways to achieve this according to Drucker. The following are: Entrepreneurial management first requires that the organization be made receptive to innovation and willing to perceive change as an opportunity rather than a threat. It must be organized to do the hard work of the entrepreneur and create the entrepreneurial climate. It requires systematic measurement of a company’s performance as entrepreneur and innovator, and built-in learning to improve performance Entrepreneurial management requires specific practices with respect to organization s... Free Essays on Entrepreneur Free Essays on Entrepreneur Entrepreneurial leadership is very crucial to an individual and to a corporation’s success. Entrepreneurial firms are a major source of change and innovation. They create jobs, new tax revenues, and other transfers of money. At a time when U.S. productivity growth is lagging behind other countries, and when our large corporations are laying off workers and focusing on core businesses, entrepreneurial firms assume a more significant role; they do what large companies are not doing. Entrepreneurship is defined as â€Å"The process of creating value by bringing together a unique package of resources to exploit an opportunity.† (Fournies) The process itself consists of the set of activities necessary to identify an opportunity, develop a business concept, and then manage and harvest the venture. As a process, it has applicability to organizations of all sizes and types. The entrepreneurship construct has three underlying dimensions which consist of innovativeness or the development of novel or unique products, services or processes. It also consists of risk-taking, or willingness to pursue opportunities of having a reasonable chance of costly failure or an emphasis on persistence and creativity in overcoming obstacles until the innovative concept is fully implemented. Entrepreneurial leadership within management success for entrepreneurs requires innovation. There are several ways to achieve this according to Drucker. The following are: Entrepreneurial management first requires that the organization be made receptive to innovation and willing to perceive change as an opportunity rather than a threat. It must be organized to do the hard work of the entrepreneur and create the entrepreneurial climate. It requires systematic measurement of a company’s performance as entrepreneur and innovator, and built-in learning to improve performance Entrepreneurial management requires specific practices with respect to organization s... Free Essays on Entrepreneur Characteristics of the Entrepreneur Today’s entrepreneur is often a self-starter, a hard worker and likes to compete. Many people have these traits but aren’t entrepreneurs. So what makes a person an entrepreneur? Over the years, research and expert opinion suggest that entrepreneurs share a number of common characteristics. A good deal is known about what is required to be a successful entrepreneur. The most interesting aspect about this is what characteristics and traits make an entrepreneur successful. These characteristics and traits determine what an entrepreneur is, why people decide to become entrepreneurs, and skills that make an entrepreneur successful. Webster’s dictionary states that the entrepreneur is one who assumes the responsibility and the risk for a business operation with the expectation of making a profit (Guralnik 205). The entrepreneur generally decides on the product, acquires the facilities, and brings together the labour force, capital, and production materials. If the business succeeds, the entrepreneur reaps the rewards of profits; if it fails, he takes the loss. Being a self-starter often means being the prime mover for getting things done on a daily basis. They’re patient, experienced, and self-controlled, and they have great integrity. You can always rely on an entrepreneur to do what he says (Ginsberg 13). Many believe that this is the single most important characteristic of an entrepreneur. A business owner must have drive and initiative in order to succeed in their market. Most important is a single-minded drive to be successful. Money is important but only used as a way of keeping score. Being your own boss is a major desire for being in business fro yourself. The most persuasive characteristic of entrepreneurs is that they don’t like to work for someone else. Typically, the entrepreneur is between 27 and 34, and is male (Silver 27). When trapped in a large org...