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An Introduction to Entrepreneurship - Coursework Example

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An Introduction to Entrepreneurship Student # July 11, 2011 Word count: 1593 Introduction Innovations taken by entrepreneurs are known to be unique because of the characteristics which this type of business individual carries. The definition of an entrepreneur is based on one individual approaching business independently and in relation to creating their own endeavors…
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An Introduction to Entrepreneurship
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Download file to see previous pages Understanding the different aspects which are a part of the entrepreneurial behaviors and expectations defines the associations and roles that pertain to business with the individual. Skills, Abilities and Behaviors The generalized concept of being an entrepreneur is based on working independently while moving into business endeavors. However, the business ventures which are created differ from other forms of business. The first difference is noted with an enterprise, which is created through a board of directors or sector of leaders with a hierarchical expectation that is established. While this particular venture may have been established by an entrepreneur, it is expected that the team collaboration and hierarchy separates the individual behaviors from the group modifications which take place. The intrapreneur is another form of leadership which many attribute to the same concept. While there are several similar skills in terms of leadership, this differs because the position is usually based on management as opposed to starting a new venture without the use of a corporation or other entity. The entrepreneur is then defined as one which differs because of the independent nature and the characteristics of leadership used for innovation and creativity outside of other types of business ventures (Ucbasaran, Westhead, Wright, 2009: p. 99). The main difference in character with entrepreneurs is what leads to the different skills, abilities and behaviors among these business leaders. There are five known personal characteristics which create a difference between entrepreneurs and other types of leaders. This includes being open to experience, being conscious and aware of surroundings, being flexible, being agreeable and carrying a vision based on these determinants. The concept that is associated with these skills is reflective of the psychological expectations that lead to leadership skills, innovation and the ability to create and portray different ideologies in relation to the surrounding environment (Zhao, Seibert, 2006: p. 259). These psychological behaviors then lead to expectations of skills and abilities. Creativity, capability to find opportunities and performing several tasks are some of the skills expected. Entrepreneurs are known for switching skills easily while a business grows while moving in between positions and working with initiatives while creating the necessary ventures (Silva, 2007: p. 118). Creative Thinking The ability to work with leadership skills, behaviors that initiate new ventures and skills that are able to move between various positions then leads to the concepts of creative thinking which are developed by entrepreneurs. The structure that is developed with entrepreneurs is based on the intention of an individual first. This is what initiates the endeavor and allows the entrepreneur to grow, either in response to the environment or because of a vision that is related to the entrepreneur. This is combined with creative thinking to lead to the initiative of the new idea and to find ways to construct the idea into a reality. The creative thinking is furthered by evaluating the business idea to define the probability of success as well as looking into solutions that will help to launch the business into a successful endeavor. The personality of the ...Download file to see next pagesRead More
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