Entrepreneurial Process Essay

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ENTREPRENEURIAL PROCESS: CRITICAL APPRECIATION Bygrave: Bygrave presents the entrepreneurial process as a set of stages and events that follow one another. These stages are: the idea or conception of the business, the event that triggers the operations, implementation and growth. In his model of the entrepreneurial process Bygrave highlights the critical factors that drive the development of the business at each stage. According to Bygrave entrepreneurial traits are shaped by personal attributes and environment. Personal attributes are the characteristics of entrepreneurs that make them different from non-entrepreneurs. Bygrave affirms that there is no neat set of behavioral attributes that allow us to separate entrepreneurs from non-entrepreneurs. Meanwhile, he emphasizes that entrepreneurs have a higher locus of control than non-entrepreneurs, which means that they have a higher desire to be in control of their on fate. Instead of using psychological terms to describe the entrepreneur's characteristics, Bygrave uses a set of everyday words, which he named "The 10 Ds"(Dream, Decisiveness, Doers, Determination, Dedication, Devotion, Details, Destiny, Dollar, and Distribute.) Referring to environmental factors, Bygrave observes that they are the external influences surrounding the beginning of the business and its development. He underlines the influence the local environment has on the willingness of the entrepreneur to open a business. Environmental factors also include sociological factors such as: role models, family responsibilities, the trade-off between the experience that comes with age and the optimism and energy of youth, and contacts (a network of personal relationships). Concerning role models, it has been emphasized that they are very important because knowing successful entrepreneurs makes the act of becoming one seem much more
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