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Introduction - Definition of entrepreneur
A definition of entrepreneur would be a person who starts a new venture or business and takes on all the risks for the product/business/service that they believe in. The term entrepreneur is someone who offers a type of service or a new innovative product in order to make a certain amount of profit, which will normally involve in a high level of personal and financial risk to pursue the opportunity.
An Entrepreneur is an individual who establishes and mangers a business for the principle purpose of profit and growth. The entrepreneur is characterized principally by innovative behavior and will employ strategic management practices in the business.
(Source: Small Business and Entrepreneurship. Paul Burns and Jim Dewhurst, pg 11)
These are the people who have the skills and initiative necessary to take good news ideas to market and make the right decisions to male the idea profitable. Here is a quotation of what is an entrepreneur “One who creates a new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying opportunities and assembling the necessary resources to capitalize on those opportunities”
(Scarborough and Zimmerer, 2003, p.3)
“Someone who takes nothing for granted, assumes change is possible, and follows through: someone incapable of confronting reality without thinking about ways to improve it; and for whom action is natural consequence of thought”
(Source: Useem, 2001. In Scarborough and Zimmerer, 2003, p.3)
Characterizes of a successful entrepreneur
Being an entrepreneur is about more than just starting a business or two, it is about having attitude and the drive to succeed in business. All successful Entrepreneurs have a similar way of thinking and posses several key personal qualities that make them so successful in business. Successful entrepreneurs like the ambitious Richard Branson have an...