Nobody downloaded yet

Important Attributes in Entrepreneurship - Essay Example

Comments (1) Cite this document
Summary
This research is being carried out to evaluate and present the important attributes in entrepreneurship. This research will attempt to develop relevant values and integrate them within the business culture. Such values include integrity, honesty, trustworthiness, and commitment…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER92.6% of users find it useful
Important Attributes in Entrepreneurship
Read TextPreview

Extract of sample "Important Attributes in Entrepreneurship"

Download file to see previous pages This essay discusses that pursuit of an entrepreneurial dream starts with a viable dream. Entrepreneurship begins with conceptualizing a new idea, drawing a business plan, and making decision concerning the legal structure. Additionally, basic tactics such as pursuing an international opportunity or starting a new business venture, and financing issues are also considered before one can embark on the entrepreneurship journey. Most people, who venture into entrepreneurship, prefer a new business rather than already existing business opportunities. Some people begin with a desire to begin a business and then look for an idea while others start by having an exciting idea and then consider entrepreneurship later. However, there are basic issues that one must consider when considering an entrepreneurial venture. Some of these basic issues include finances, industry concerned, legal issues and potential risks and rewards. It is thus important for entrepreneur to consider various things that would boost or affect their success in the pursuit of small businesses. Entrepreneurship refers to the undertaking of innovations, or business acumen with the aim of transforming the innovations into useful economic goods. The undertaking may result in a new business or new organization. Entrepreneurial activities differ substantially depending on the conceptualized business idea and they range from solo business projects to major undertakings that create job opportunities. (Reuvid, 2008, p. 16). Most successful entrepreneurs demonstrate certain personal attributes such as dedication, creativity, flexibility, determination, passion, leadership, and self-confidence. Creativity is a spark that drives development of new services and products and pushes for improvement and innovation. Creativity allows for continuous learning, thinking beyond prescribed formulas, and questioning various possibilities. Determination is a strong desire to attain success and it includes ability to continue pursuing even during difficult times. It also persuades the entrepreneur to remain motivated and not necessarily by money gained from the business venture. Dedication motivates entrepreneurs to work hard and drive their ideas and plans. Flexibility refers to the entrepreneur’s ability to take a swift move in response to change in market conditions. Leadership is the capacity and ability to formulate rules, set goals, and ensure follow-through, and accomplishment of the established goals (Mariotti & Glackin, 2011, p. 63). Self-confidence rises from thorough planning since effective planning reduces uncertainty and risk. Effective planning requires expertise and skills. A self-confident entrepreneur is not easily intimidated or discouraged by market changes or challenges faced in business. More often, an entrepreneur will not demonstrate all these attributes and may lack one of them or even have only one or two of the attributes. The important thing is that the attributes can be learned. The entrepreneur, for instance, could hire someone to help him build or strengthen weak areas and attributes. Of importance is to know the personal strength and build on it while putting effort to minimize the weaknesses (Boone & Kurtz, 2010, p. 32). It is however, critical for entrepreneurs to ensure that they have developed these attributes for successful entrepreneurship. For instance, it is futile to start a business venture with little or no confidence in workability of the venture. Self-confidence instills optimism, which resembles fearlessness to face difficult odds. Self-confidence and determination helps one to see opportunities where other people see danger lurking (Bone & Kurtz, p. 240). Entrepreneurs conceive new ideas and devise innovative ways that helps overcome the difficult situations and problems. Creativity is a common denominator in entrepreneurship (Bone & Kurtz, p. 241). Besides the mentioned attributes, it is important to develop relevant values and integrate them within the business culture. Such ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Important Attributes in Entrepreneurship Essay Example | Topics and Well Written Essays - 4750 words”, n.d.)
Retrieved from https://studentshare.org/business/1396179-important-attributes-in-entrepreneurship
(Important Attributes in Entrepreneurship Essay Example | Topics and Well Written Essays - 4750 Words)
https://studentshare.org/business/1396179-important-attributes-in-entrepreneurship.
“Important Attributes in Entrepreneurship Essay Example | Topics and Well Written Essays - 4750 Words”, n.d. https://studentshare.org/business/1396179-important-attributes-in-entrepreneurship.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
be
berniergregoria added comment 11 months ago
Student rated this paper as
At first, I thought 19 of pages is too much for such a question. But now I see it could not be done better. As the author starts you see the complexity of the issue. I’ve read all at once. Perfect essay

CHECK THESE SAMPLES OF Important Attributes in Entrepreneurship

Entrepreneurship

...as an individual business. The study therefore looks into the various risks and rewards that are related to owning such a business, the personal attributes that would be critical in pursuit of the venture and the legal aspects and issues that must be addressed including licensing, and other legal requirements. The study will also explore the local business conditions within the industry involved and the market to examine some of the factors that influence the successfulness of the business. The study is relevant to people who are in pursuit of entrepreneurship and students who would wish to start new business but have not yet developed the relevant skills. Important...
17 Pages(4250 words)Dissertation

Entrepreneurship

...competitive advantage, stay long in the business, create strong customer base through loyalty programs etc. This section describes products innovation, process innovation and concept innovation as the major three entrepreneurial strategies. Most of researchers in the field of entrepreneurship have stressed that an entrepreneur is always an innovator too. Innovation is most important tool for entrepreneurs to find chances and make them opportunities for various business (Drucker (2007, p. 17) 1- Product Innovation Hundreds of new products enter to the market almost every day. Designing and developing new products that have not yet been to market are critical means to seeking opportunities and exploring to...
12 Pages(3000 words)Assignment

Entrepreneurship

...process. Activities included in this step include identifying the target market consumers, studying their decision making processes, their motives and aspirations, designing of the product, identifying the suitable ways to develop it, and marketing the product. All of these factors are strongly related to management. Rank of the Four Steps of Entrepreneurship as per their Importance Each of the four steps discussed above are equally important in the entrepreneurial process since the process is incomplete and cannot lead to favorable results as long as any of the steps is missing. The decision to become an entrepreneur is the simplest step as all it takes is motivation and determination...
5 Pages(1250 words)Essay

Entrepreneurship

...and resources from those who are knowledgeable. Furthermore, the way in which entrepreneurs “position” themselves in the network determines the extent to which they are able to take advantage of their contacts. The aim of such positioning is to shorten the path to the contacts in order to get tasks done. Finally, members of the social network often tend to organize themselves by interacting amongst themselves which leads to the development of ‘multiplex’ ties that benefit the entrepreneur even more. Furthermore, family members too can play an important role in entrepreneurial success. In fact, they play a critical role in so far as entrepreneurship is examined in the context of family business...
9 Pages(2250 words)Essay

Attributes of A Leader

...that will earn you the right to be considered a good leader, but to be a great leader it takes more than just getting something started (West 1993 p 7). There are numerous attributes of a leader, but I feel that three of the most important are as followed: respectful, altruistic, and dependable. A leader should be respectful to set a good example for others. A true leader will gain more in being satisfied by finishing something that they started then they would by gaining material possessions and not benefiting the well being of the society around them. According to me Malcom x fits perfectly into the above mentioned definition and attributes of a good leader. Analysis Malcolm...
3 Pages(750 words)Essay

Basic Attributes of Organizations

...25 January 2007 Basic Attributes of Organization One of the most surprising features of the relief operation after the catastrophe brought about by the hurricane Katrina is the aggressive response of religious organizations in raising funds for the victims. It is estimated that out of the $3.162 billion funds collected, denominational groups account for roughly $134 million (Summing Up Katrina Relief 2). One of the denominational groups which showed considerable effort in helping the hurricane casualties is the Lutheran World Relief (LWR). Just like any typical organization, LWR expresses its goal through its mission statement: "Lutheran World Relief works with partners in 35 countries to help people grow food, improve...
2 Pages(500 words)Essay

Entrepreneurship

...Entrepreneurs: Creative Insubordinates The dilemma in the corporate world emerges when managers and entrepreneurs co-exist within a single workplaceenvironment. As explained in Kets de Vries (1985) article, an entrepreneur has personal and social issues in terms of dealing with the realities of corporate control and management whereas managers are people who are willing to subordinate themselves from a superior entity for the welfare of the company. If I were to choose, whether to become a corporate person who manages the 100-year-old IBM or to become an entrepreneur who creates a service line which is modeled after Google, I will pursue the latter goal. Apparently, there are major pitfalls of entrepreneurship because...
2 Pages(500 words)Essay

Cinematography Attributes

...1 - What are the attributes of a Condenser Microphone? Condenser Microphones have higher frequencies and louder noise. They are also more sensitive to loud sounds. It is because of their sensitiveness to sound that they are preferred in studios. 2 - How does a Waveform monitor and Vectorscope help when lighting a Blue/Green screen? A Waveform monitor helps to understand the variation in the brightness of a video frame that may not be visible to naked eye. With the help of a portable computer, the brightness of a Blue/Green screen can be adjusted. Vectorscope helps by making sure that the blue/green screen has enough saturation in order to achieve effective and easy keying. 3 - Look at the end montage sequence from...
1 Pages(250 words)Assignment

What attributes of eco-labels are important to consumers

...will be composed of two parts: a direct survey asking participants about the importance of various eco-label attributes followed by a conjoint choice-based survey that focuses on the top four attributes as determined by the survey. The conjoint choice-based survey will elicit consumer preferences over various characteristics of the product. In particular, we focus on cleaning products. The survey for consumers of cleaning products will include the following questions: 1. What are the environmental and economic benefits of eco-labels to consumers? 2. What defines the success of eco-labeling? 3. Which issues hinder the design and implementation of eco-labels that guarantee sustainable...
3 Pages(750 words)Essay

Five Important Leadership Skills, Competencies or Attributes

...PART TWO five most important leadership skills, competencies or attributes Every leader has some skills, competencies and attributes that make him or her different from others and that allows him or her to attract followers. This part of the report discusses the five most important leadership skills, competencies and attributes that help leaders in making them successful. Five skills and attributes are as follows: 1. Communication Skills 2. The psychological side of motivation 3. Being a visionary 4. Self awareness 5. Creativity Each of the abovementioned attributes will now be discussed one by one. 1. Communication...
17 Pages(4250 words)Research Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Important Attributes in Entrepreneurship for FREE!

Contact Us