Changing Definitions of Entrepreneurship - Research Paper Example

? Changing Definitions of Entrepreneurship Email Address Telephone ID Table of Contents Introduction………………………………………………………………………………..3 Dynamic Capabilities of Entrepreneurship………………………………………………..3 Types of Entrepreneurial Leadership……………………………………………………...7 Expansions of Social Entrepreneurship………………………………………………….11 Conclusion……………………………………………………………………………….13 Introduction The concepts of entrepreneurship are consistent with changing definitions and ideologies that are based on specific time frames. Theoretical applications and the ideals of creating a different approach to being an entrepreneur are consistently being added into the definition, specifically because there is the need to grow and excel with this specific approach to work and business. When looking at the concepts of various theorists, it can be seen that there are changing definitions and specific perspectives that are taken, all which are based on the ideal of building a deeper meaning of what it means to be an entrepreneur as well as how this relates to the various aspects of working smarter with a field which continues to grow and which is based on dynamic components of the individuals who are continuing to work as leaders in the business society. This paper will examine and critique three separate articles, all which expand on the theories of entrepreneurship and the definitions which are continuing to add in dynamic levels of change. Dynamic Capabilities of Entrepreneurship The question of what defines an entrepreneur is one of the leading concepts that are looked at in theory. This not only relates to what an entrepreneur is, but also to the characteristics and attributes which they carry. In the first journal article, there is an understanding of entrepreneurs which are leaders within an organization and the characteristics which need to be approached in terms of the external and internal environment. The article focuses on looking at the roles and purposes of entrepreneurs as well as the capabilities of the organization to succeed, specifically by the approach which is taken for the environment. The main thesis of this specific article is based on having entrepreneurs which are leaders who can provide sustainability to the internal environment while working with change and dynamic characteristics for the altering changes and trends that are in the external environment1. The concept of sustainable and dynamic qualities of an entrepreneurial leader is one which the research paper states is defined by the concept of understanding and leadership through an entrepreneur. The characteristics which are found to offer both qualities include understanding how sustainability and dynamics relate to each other. This is followed by organizational knowledge and skills, specifically which can apply to the practices that are a part of the leadership and which offer daily opportunities for entrepreneurs to look at the association with the organization. The ability to remain in a learning mode, build relationships and to create a link between learning and implementing new ideologies is also a proponent of this, all which provide different opportunities for entrepreneurs. As the dynamic and sustainable characteristics link together with these qualities, there is the ability to create a link to the growth and success of an organization2. When looking at this article, it can be seen that there are several strengths in relationship to identifying the qualities and capabilities that are associated with being an entrepreneur. The concept of providing characteristics that are both dynamic and stable is one which is considered important not only for entrepreneurs, but also for other types of leaders who are able to offer management and change within an organization. The researcher is able to identify these two qualities with specific application, such as knowledge and the ability to implement skills and practical applications. The research which provides this as the main concept is also a strength of the article. This tells entrepreneurs how to work within an internal organization and what to look into to make sure that there is a specific relationship to the organization. The concepts that the research provides gives substantial proof and a sense of understanding about the dynamics of being an entrepreneur as well as the type of vision and daily practice which needs to be combined with those that are working in this specific field. The strengths which relate to this particular article are not only defined by the qualities of the dynamics of being an entrepreneur. The research that is set defines two of the most important elements of being an entrepreneur that is often overlooked. This is the combined concept of maintaining the everyday relationships while continuing to have a sense of vision with the dynamics that are taking place in the internal and external environment. These two qualities are contrasting to each other and require an understanding and skill set that is able to change throughout time. By having this alternative available, there is the ability to create a different and deeper understanding of what the dynamics are within the role of the leaders. The article is able to relate these two specific strengths into various functions within the organization, which is also important to point out and which is often not considered by those that are working within organizations. When an entrepreneur is able to consistently think of their role as one which is both dynamic and which needs to have performance of stability, then there is a changing set of characteristics that are provided by the entrepreneur. While the research paper is able to identify these two qualities, there are also some limitations with the definition that is provided. The concept of being an entrepreneur to respond to these two dynamics doesn’t take into consideration other practical applications that are needed and which are consistent with different entrepreneurs. The theories which are provided are general and don’t look into different types of entrepreneurs or organizations. For instance, if an organization has a specific mission and vision and is also looking for specific types of growth, then the dynamics and the sustainability changes. The organizational environment is another aspect which changes, specifically because others in the organization and the diverse thoughts which are brought into the organization are altered by the beliefs of others. Taking more than the leadership qualities of those that are involved in entrepreneurship into consideration also changes the outlook of the specific qualities and changes the way in which the entrepreneurs are able to move into the dynamics and sustainability. The inability to provide definitions with the other dynamics within the internal and external environment is followed by the lack of other qualities that are expected of entrepreneurs. The theory that is provided is one which is defined only by the strategy based on the concept of dynamics. However, entrepreneurs are also expected to carry other roles, leadership levels and concepts which pertain to the organizational change. Without understanding the other perspectives that are a part of the entrepreneurial ideologies, there is the inability to create a deeper understanding of the dynamics which are created. With the dynamic and sustainable qualities which are defined are also limitations in the ability to create an understanding of the dynamics and the deeper insights which relate to this. While the article is able to provide general insights through the research, there are several general statements which don’t provide more alternatives for understanding the concepts of relationships, knowledge, skills and the overall qualities of being an entrepreneur. Types of Entrepreneurial Leadership The second article which shows the concepts of entrepreneurial leadership is one which defines social and commercial entrepreneurs and makes a comparison to the qualities which both have while defining the similarities and differences of both. The thesis of this particular article is based on noting the similarities and differences of social and commercial entrepreneurs through an analytical model. This shows the relationship between both as well as the ways in which both have to change the overall outlook and ideologies that are a part of being an entrepreneur. The researcher, by defining these qualities, is able to state that both types of entrepreneurs need to be more aware of their position, specifically so they can work more systematically and effectively with their given roles while understanding the type of leadership which they need to have3. The analytical model which is used by this specific author defines the social and commercial relationship by looking at skill sets first. The skill sets include the daily maintenance which both types of entrepreneurs have to perform. This is the diversity which is a part of the entrepreneurial relationships and is defined specifically by the need to look at the skills which are required for networking, offering specific business products and services and working with customers at different levels. The roles of the entrepreneurs also differ with the ideologies of the framework, specifically because the businesses and types of dynamics differ between both. This particular outlook is one which is defined by the author with creating an understanding of how the entrepreneurs are required to perform specific duties for the success of the business while understanding how both the internal and the external environment will continue to change so they can reach the overall understanding of the business and the products4. The author analyzes not only the differences but also shows the similarities that are a part of the entrepreneurs and the roles which they hold. The social implications are based on networking and skill sets that relate to connecting to individuals. The commercial aspects are based on creating business products and services then moving into a fully functioning organization that is able to provide insights about this. With both of these dynamics; however, are overall expectations that are required by the entrepreneurs. There is an understanding that the entrepreneurs need to have a specific set of leadership skills and understanding of the dynamics of the environment. There is always the need to interact with other individuals and to build relationships and with this, to take a sense of leadership that is able to define the vision that is within the company and to respond with the success and growth of the company. The author is able to define this as a set of universal principles that every entrepreneur should have when working with the dynamics of any industry5. The strengths of this article come first from the analytical model which is used to create an understanding of the dynamics of entrepreneurship. The focus which the research has of the specific dynamics is based on contrasting and comparing two different forms of being an entrepreneur. However, it can be stated that this would work effectively with any type of entrepreneur, specifically because of the analytical model and the approach which is taken with the researcher. The analysis, observation and the overall implications which the researcher gives create a general definition of what characteristics an entrepreneur should have as well as how this relates to the overall concepts that are within society. This is combined with the understanding of the expectations which arise in different fields, as well as the concept of leadership which every entrepreneur should have. The strengths based on the analytical model become the basis of what is believable with the entrepreneurial characteristics and expectations. When looking at the analysis, it can be seen that the differences between both fields is based on the ideologies of the field and the specific work which each entrepreneur does. From this perspective, there is the ability to understand more about the relationship of each entrepreneur as well as the need to specialize and grow with specific attributes which relate to a field. The concept of developing a skill set, understanding the nature of the field and becoming an expert as an entrepreneur become the most important aspects of the article. However, the definition of leadership which pertains to all fields and which is shown in this particular article also becomes strength, specifically because any entrepreneur can apply this definition toward general success and growth within their field. Even though there are specific strengths in this article, there are also some gaps with the analysis which is used. The first is the basic limitations which are given through the approach the researcher takes. The gaps in the analytical model, as well as the decision to look at and observe two types of entrepreneurs is one which creates a more generalized approach to the model. The researcher is only able to define two types of entrepreneurs; however, this field is more open and has more concepts than the researcher looks at. The analytical model also is limited with specific qualities which are theoretically expected to be found with entrepreneurs. However, this range of characteristics may alter according to the field which one is in, individual approaches which are taken and the leadership skills that go beyond the analytical set that is provided. In this instance, there are limitations because definitions have to be given before providing the research, which relates to the entrepreneurs not having a deeper and broader understanding of the main aspects and dynamics of being an entrepreneur. The limitations that are within this specific article are related to the overall inconsistency with the definition of what it means to be an entrepreneur. The concept of being an entrepreneur is one which is open and which is dynamically changing. Even though there is an understanding that there is a relationship to business, a link to the concepts of leadership and the understanding that maintenance and vision are a component of this, there are also other ideals of this field. In today’s business world, this idea is continuing to expand and offer other options. For this article to define only two types of entrepreneurship and to use an analytical model which defines specific attributes then becomes limiting. Recognition that the field is broader and is continuing to expand in dynamic ways would help this specific article to have more consistency and to provide more insights with the general field of being an entrepreneur. Expansions of Social Entrepreneurship The concept of entrepreneurship and comparisons which continue to change leads to the alterations which are a part of the field specifically in identifying social entrepreneurship. Recently, this concept is one of the fastest ideals of those who are looking at becoming an entrepreneur. The idea of being a social entrepreneur is one which is based on growing and expanding business with social goals that will bring return for the company. This specific concept is one which is furthered in the article by examining this definition, what it means and how it pertains to this society. The thesis of this article is based on providing an understanding of the definition of social entrepreneurship. This is expanded by looking at the value of being an entrepreneur in this field as well as the qualities of innovation and expansion that are associated with this6. The concepts that are pertaining to this article first relate to ideologies about social entrepreneurship and the dynamic forces which are involved. The ideology of being a social entrepreneur is one which is defined first by the ability to reach social goals, which then affects a business in a positive or negative way. This is further defined with qualities that the entrepreneur must have, which consists of flexibility, ability to create social value, pursuit of social goals, recognizing opportunity, employing innovation, tolerating risk and accepting limitations to various resources. These five main concepts are taken with those who continue to work with the dynamics of being a social entrepreneur and show how those who are interested in this specific field are required to work with the dynamics of being social in order to succeed within the business that they are looking at7. The strengths of this specific article are based on the dynamics which are noted about being a social entrepreneur as well as the definition which is given by the researcher. This definition is one which is not defined by others and creates a stronger understanding of this new field and how it works. The strengths also pertain to the concepts and definitions which are associated with this field and which provide an understanding of the dynamics. The ability to note the concepts of taking risks, looking at resources and knowing how to maneuver through this specific type of entrepreneurship are some of the main concepts which provide a different type of insight to the field. This is furthered by the researcher ability to focus only on one type of concept and to expand this, with the understanding that the dynamics of other entrepreneurs would employ different definitions and understanding. While this particular researcher is able to show the strengths through the definitions and expansions of this, the method of research becomes the main downfall. The research carries the definitions and ideologies by sharing an understanding through observation and generalized expectations that are within the field. Instead of creating this understanding through research methods, analytical associations or the other concepts which are a part of being an entrepreneur, there is a standing definition by the generalized expectations that are a part of being a social entrepreneur. This limits the understanding and doesn’t provide some of the deeper insights that are a part of this field, such as leadership skills, expectations with the dynamics and management of the business and the ability to combine other methods into being an entrepreneur. The limitations of the study and what it is expected to achieve then also creates a main weakness in the overall viewpoint which the researcher takes. Conclusion When looking at the different concepts of being an entrepreneur by different researchers, it can be seen that there are specific relationships and definitions which are created. The concept of being an entrepreneur, as stated in all three articles, is based on a working definition of leadership, working with the dynamics of a growing organization and having the ability to have a sense of stability. Each of the articles also points out that there is the need to carry specific skill sets to work with being a different type of entrepreneur. The strengths of each article are based on the ability to expand the definition of being an entrepreneur and some of the associations which are made with this. However, each of the articles carries the same limitations based on a main focus of entrepreneurial characteristics, which can be expanded in different ways and from an alternative perspective. References Austin, James, Howard Stevenson, Jane Wei – Skillern. (2006). “Social and Commercial Entrepreneurship: Same, Different, or Both?” Entrepreneurship Theory and Practice 30 (1). Peredo, Ana Maria, Murdith McLean. (2006). “Social Entrepreneurship: A Critical Review of the Concept.” Journal of World Business 41 (1). Zahra, Shaker, Harry Sapienza, Per Davidsson. (2006). “Entrepreneurship and Dynamic Capabilities: A Review, Model and Research Agenda.” Journal of Management Studies 43 (4). Read More