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Entrepreneurs - Essay Example

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The prominent definition is proposed by Tomczyk, Lee and Winslow (2012) who suggest that an entrepreneur is a person who operates a new venture and becomes…
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Entrepreneurs Entrepreneurs The debate on the entrepreneurial concept starts from the definition of entrepreneur that is ed to various views. The prominent definition is proposed by Tomczyk, Lee and Winslow (2012) who suggest that an entrepreneur is a person who operates a new venture and becomes accountable for the inherent risks. No potential entrepreneur would want to fail; all they emulate are the successful entrepreneurs such as Steve Case, the AOL founder and former CEO, or Richard Branson of the Virgin Group of Companies. Some of the three critical characteristics of an entrepreneur include focus, creativity and risk-taking. With the successes gathered by high level entrepreneurs who barely attained a high school education in preference of pursuing their life dreams in entrepreneurship, one concludes that their success was inborn due to their youth and relative inexperience. Research has shown that different aspects are central for one to become a successful entrepreneur. Tomczyk, Lee and Winslow (2012) portend that although personality and motivation (inborn characteristics) affects the entrepreneurial prowess, the factors are, in turn, influenced by adjustable factors such as physiology, family, culture and demographics. Skills and abilities also play a crucial role in the establishment of a successful entrepreneur. It is clear that successful entrepreneur combines both the inborn characteristics such as motivation and personality with gained traits such education and work. This affirms that entrepreneurs are both born and made. The personal attributes of creativity and risk-taking are excellent foundations for a successful entrepreneur. However, strengthening them with education and experience makes a person stand a better chance of being successful. Otherwise, how would a person be successful if they do not combine both traits?
Reference
Tomczyk, D., Lee, J., & Winslow, E. (2012). Entrepreneurs Personal Values, Compensation, and High Growth Firm Performance. Journal of Small Business Management, 51, 1, 66-82. Read More
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