Entrepreneurship

& ManagementIntroduction to Entrepreneur

Entrepreneur.

Basically an entrepreneur is a person responsible for setting

up a business or an enterprise. He has the initiative , skill

for innovation and who looks for high achievements. He is

a catalytic agent of change and works for the good of

people . He puts up new green field projects that create

wealth, open up many employment opportunities and leads

to growth of other sectors.

Entrepreneur’s profile.

• He is a person who develops and owns his own enterprise

• He is a moderate risk taker and works under uncertainty for achieving the goal.

• He is innovative

• He peruses the deviant pursuits

• Reflects strong urge to be independent.

• Persistently tries to do something better.

• Dissatisfied with routine activities.

• Prepared to withstand the hard life

Entrepreneur’s Profile

• Determined but patient

• Exhibits sense of leadership

• Also exhibits sense of competitiveness

• Takes personals responsibility

• Oriented towards the future.

• Tends to persist in the face to adversity

• Convert a situation into opportunity

Entrepreneur.

The word "entrepreneur" is derived from a French root

‘entreprendre’, meaning, "to undertake". The term "entrepreneur"

seems to have been introduced into economic theory by Cantillon

(1755) but Say (1803) first accorded the entrepreneur

prominence. It was Schumpeter however, who really

launched the field of entrepreneurship by associating it clearly

with innovation. Drucker’s definition of entrepreneurship,

namely a systematic, professional discipline, brought a new level

of understanding to the domain (Maurer, Shulman, Ruwe &

Becherer 1995:526). Sharma and Chrisman (1999:12) identified

two clusters of thought on the meaning of entrepreneurship. One

group focused on the characteristics of entrepreneurship (e.g.

innovation, growth, uniqueness) while a second group focused on

the outcomes of entrepreneurship (e.g. the creation of value).

Reading assignament.

• http://www.forbes.com/sites/annabel/2013/10/08/how-an-

ecuadorean-entrepreneur-built-south-americas-most-luxe-

jungle-hotel-mashpi-lodge/

Elements for a successful

venture.

“Decision-Making”

For Entrepreneurs

• Problem solving and decision-making are important skills for business and life. Problem-solving often involves decision-making, and decision-making is especially important for management and leadership. There are processes and techniques to improve decision-making and the quality of decisions. Decision-making is more natural to certain personalities, so these people should focus more on improving the quality of their decisions. People that are less natural decision-makers are often able to make quality assessments, but then need to be more decisive in acting upon the assessments made. Problem-solving and decision-making are closely linked, and each requires creativity in identifying and developing options, for which the brainstorming technique is particularly useful.