Application Of Theory And Relevant Concept Business Essay

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Many people believe that entrepreneurs are born, not made because they have skills that cannot be trained or taught. They can give any ideas or create any innovation which it comes naturally (BusinessEurope.com: Are people born entrepreneurs? 2004). A study of 350 respondents shows that 22.5% of them think people are born to become entrepreneur. They learn and inherit entrepreneurial skills from their families and start to run their own businesses. These personal traits are not similar to what people learn in theories or from their universities and apply in their businesses. They are eager and risk taking to challenge business opportunities and it comes naturally (BusinessEurope.com: Are people born entrepreneurs? 2004).

In addition, entrepreneurs are inherited DNA from their parents. Genes can lead to many personal traits that can extroverted or open experiences. Genes will affect the behavior in personal traits and intelligences. According to the survey, 75 percent of respondents run their first business when they are 30 year old (Anonymous, Are Entrepreneurs Born Or Made? 2007). It will reflect to how people make decision or take risk because particular genes will affect directly to their behavior (Elih, 2011). They can make a quick decision of buying stock, for example without concern any cautions or may lead business failure. Mark Zuckerberg is one of billionaire people at age 28 which worth US$17.5 billion (Roger, 2012). He left Harvard University and starts a very popular Social Network in the world that is Facebook. Mark Zuckerberg shows that he can become successful entrepreneur without degree when he is 28 years old (Roger, 2012).

Tom Scotney (2007) stated that "Successful entrepreneur are born and not made". It is easy to teach people business skills and techniques but they must have personal traits and smart to apply. People can run their own business but only few of them become successful due to inheriting certain entrepreneurial traits (Tom, S. 2007). According to Tom Scotney (2007), born entrepreneurs have no fear, risk taking, confident, and dedicating time and resources to make successful business. People can learn these skills and techniques but they must have necessary inside factors to make it success. To illustrate, 49 percent of people start to run their business without fear in the United State and 19 percent in Europe (Tom, S. 2007).

Parental role models have a good effect to their children. They are born in a business family which has ability, passion and dynamic to do things. Inheriting successful business will lead them to adapt and give tools for the success (O'Connell, S. 2004). "People must have passions and skills to run a business as well as ability to make business plan and implement it", O'Connell (2004) said. They can dream what they want to do and what they need to be a successful entrepreneur and they believe they can achieve their dream (O'Connell, S. 2004). Consequently, O'Connell (2004) believes that entrepreneurs are born to be successful with some traits such as driver, passion, enthusiastic or motivation. They are very demanding and energetic to do business in good way. Moreover, parents will affect children on their education and career. Children tend to start their own business or take over from their family business (Scherer, et al. 1991).  Scherer stated that "thirty-five percent of the business founders they interviewed had fathers who had founded an enterprise or were self-employed". Their parents play an important role model that lead to career decision in their future. Children can desire to be entrepreneur like their parents. According to Scherer (1991), fifty percent of company founders have self-employed parent in United State. They can see their parent performance which can lead to their decision making. Therefore, parent role model will affect to business major and what they will do if people are born in successful entrepreneurial family.

On the other hands, many people think that entrepreneurs are made, not born. Today, people can study entrepreneurship classes in many schools. They can learn how to run a business and what skills they need to be successful however it is just theories (Sinclair, R. 2012). They must apply it in their real life or their business. People can start their own business any time they want but they are not entrepreneurs, just businessperson only (Sinclair, R. 2012). They must provide unique and innovative products that can attract customers. "The average age of people starting entrepreneurial ventures is now about 43 years old", Sinclair (2012) said. It is because young people or fresh graduates tend to own their business but they fail at the first time. They think they know everything and they can solve problem easily but they do not know the problem until they take it (Sinclair, R. 2012). The truth here is no one knows what they do or what they need to do for the first time running their own business. According to Sinclair (2012), the best way to learn experience and skills is from people you are hiring. They can teach you many good things and you will know how to be successful entrepreneur. As a result, with a proper education, essential skills and learning from other people, it will actually make people to become entrepreneurs.

To conclude, many people believe that entrepreneurs are born, not made. They can learn business skills and techniques from school but they do not know how to apply in practical properly. Born entrepreneurs have some special skills and personal traits that other people do not have. They know how to plan their business and how to execute it. They take challenges and opportunities to run business and do not care any cautions that can lead business failure.

Application of theory and relevant concept

"A true entrepreneur will often not follow the logical path but will be led by their gut instinct. A Master of Business Administration (MBA) will never teach you how to trust your gut instinct", Huggins, D. (2011) said. Bill Gates, Michael Dell and Mark Zuckerberg are the most famous person without any degrees. They dropped out their university and start their own business few months after taken (Huggins, D. 2011). According to Steve Job, he could not see the value of degree when studying at university (Huggins, D. 2011). That is a reason why he drops his study and follows his interest (Huggins, D. 2011). They have strong passion, wide vision and work hard as well as risk taken ability to achieve goals. People need more skills and trait than a MBA certificate to be a successful entrepreneur (Huggins, D. 2011).

Richard Branson, founder of Virgin Group, is an example of successful entrepreneur. He dropped out high school at age of sixteen and then he started his first business by producing student magazines ("An Inspiring Entrepreneur: Richard Branson", 2011). Virgin Record, Virgin Atlantic and British Airways were next successful business in 1969, 1984 and 1992 respectively. Mr Branson becomes role model of many young people at that time. Research shows that Richard is born to be successful entrepreneur. He is a risk taker as well as instinct when challenge his life when he was sixteen. Richard Branson shows that without any degrees or certificates, people still can become successful entrepreneurs ("An Inspiring Entrepreneur: Richard Branson", 2011).

Entrepreneurship is a controversial subject in recent years. They create more job offers and increase economic over recession time (Asvoll, H. & Jacobsen, P. J. 2012). Many countries recognize entrepreneurship education as economic development tool and teach at university in both practical and theory (Asvoll, H. & Jacobsen, P. J. 2012). They are trained skills and technique at school and make it success. However, Joseph Walker Brigham (2006) stated that "many experienced and successful entrepreneurs indicate that they have always been entrepreneurial, even when they were children". They can be an entrepreneur when they are young because they inherit certain traits from their parents and born to be an entrepreneur. As entrepreneur, they do not make any dream come true because they execute the plan (Joseph Walker Brigham, 2006). They have many ideas and they decide which one they should take, not wait until it over. Most of entrepreneurs are risk takers or inventor because they search the chance and execute it but they do not do it (Joseph Walker Brigham, 2006).

To illustrate, Dell Computer is one of successful business which was founded in 1984 by Michael Dell. He left university when he was nineteen years old and started his first business with only US$1,000 of capital (Maris, 2011). Mr Dell faced with many struggles at first time starting his company but he still believed that he can build up his business with strong vision. In 1994, total revenue was US$3.5 billion and over US$20 billion in 1998 (Maris, 2011). As a founder of Dell Computer, Mr Dell showed his leadership skills with special traits that facilitated his business successes. He has plan for what he will do and he tries to execute his interest although he faces with many difficulties. Jump to first hit

Conclusion

In conclusion, entrepreneurs are the main factor for development of economy. They bring many opportunities, jobs as well as improve living standard. Many people believe that entrepreneurs are made instead of born. They think entrepreneurs are taught business skills and techniques at school but it can base on many factors to create an entrepreneur such as genes or inherit certain traits from their family as well as ability to take risk. With these special genes, passion and vision, they can make their plan come true. A successful entrepreneur can learn from their failure and take challenges without any fears. Therefore, people are born to be entrepreneur, not made. People can be a good businessperson but to be a successful entrepreneur, they must have certain traits that other persons do not have. "The entrepreneur is born - not made, and is distinguished by an insatiable desire for success and an inherent love of all things entrepreneurial" (Anonymous, 2002).

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