The Concepts And Meanings Of Entrepreneurship Business Essay


Without a doubt Entrepreneurship are one of the increasing trends in recent years, additionally as stated by Maria Pinelli "As a group , entrepreneurs represent the best hope of creating sustained economic growth around the world," (Keris.Lahiff, 2011) in recent emerging markets, new entrepreneurs has important roles to play to push forward future economic growth. As a result studies have been conducted to analyze, understand and explain the insights of successful entrepreneurs in hope to be able to develop blueprints of previous successful entrepreneur and be applicable to produce more successful entrepreneurs in the future. People tend to believe that knowledge of entrepreneurship is just far enough for people to realize the way of becoming successful entrepreneurs, yet only certain people that possess the essential traits since born will be able to be entrepreneurs. According to Professor Scott Shane of Case Western University (Entrepreneur, 2010) Entrepreneurship are linked genetically and inheritable, with the overview that major factors of successful entrepreneurs are actually decided since born. However recent studies from Ernst and Young (Ernst&Young, 2011) highlights the facts that majority of entrepreneurs being surveyed worldwide claims that experience as employee and educations are the success factors of entrepreneurship, concluding that entrepreneurs are made.

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The controversy about entrepreneur are made or born have been a longstanding debate.

first of all there are research defining that entrepreneurs are born and not made. The much debatable arguments in general about entrepreneurship is not about education thought in schools, colleges or universities and it's not about the understanding of business plan and inventory management rather, its the level of mental ability or so to say madness that able to drives people to impossible heights. (Allen. Gannet, 2012) something's that was not taught at school and have been done by these successful entrepreneur. Mental uniqueness such as Hypomania is a hereditary distinct personality trait that is embedded in successful entrepreneurs. According to psychologist John D Gartner "hypomania" is a mild form of mania, often found in the relatives of manic depressives. Hypomanic's are brimming with infectious energy, irrational confidence, and really big ideas. They think, talk, move, and make decisions quickly. Anyone who slows them down with questions "just doesn't get it." Hypomanic's are not crazy, but "normal" is not the first word that comes to mind when describing them. Hypomanic's live on the edge, between normal and abnormal." (John.D.Gartner, 2005) additional to the mental hereditary state of successful born entrepreneur, Science founds four key traits of entrepreneur and were surprisingly genetics, the ability of identifying new opportunity and tendency to start new business derive from the opportunity. Ability to have self employment income, to engage and perform in entrepreneurship and the tendency to be an entrepreneur, open to experience and opportunity and sensation seeking have common genetic and its hereditary. (Allen. Gannet, 2012) in research made by Professor Scott Shane (Susan.Adams, 2011) shows that after studies on twin and genetics suggest that the traits are up to 66% inherited, by comparing identical twins that shares similar genetic composition and fraternal twins that shares half. Identical twins shares the same choices such as starting a business while fraternal twins are not so likely to be the same, by reasoning on the research made, one major factors of decision making of choosing entrepreneurship are on the influence of genes. Professor Scott Shane also take into account that genetic factors influence whether people start their own business, self-employed or have their own companies

On the other side of the arguments, Stevenson and Lundstrom views entrepreneurship as system. They indicates in their studies about entrepreneurship that existing knowledge is critical in the decision of individual to take entrepreneurial action (Peterson.E, 2010). individuals are likely to become entrepreneur if they are aware about the options to become one, they perceive that opportunities exist and could be gained and with their own confidence and will of their own ability to actually take a step further on actually doing it. (Peterson.E, 2010) Recent research made by Ernst and Young in 2011 "Nature or Nurture:Decoding the Entrepreneur" (Ernst&Young, 2011) the research debated with survey as their stand, that entrepreneurs are made and not born. based on 685 entrepreneurs worldwide participating the survey and many of the participator started of at young age. more than half of the respondent describe themselves as "transitioned entrepreneurs" meaning they have work experiences from corporate environment before venturing on their own; many of the surveyors agrees that working in corporate environment before hand is part of the key ingredients to become successful entrepreneur. almost half of the respondent said that their business starts until they were 30 or more. this indicates that even successful entrepreneurs need time to understand about industries revolving around them, by getting more skills, knowledge and experience to be a successful entrepreneur, among all of the respondent that have been surveyed, the most frequent answer that was given by them as how to be a successful entrepreneur, most of them cite that experience as an employee and higher education as being the most important aspects or even foundation as a successful entrepreneur. this goes to show that not every entrepreneur is a college dropout. Even though there are excellent examples of entrepreneurial leaders that left in the middle of education and made multi-billion businesses such as Bill Gates from Microsoft and Mark Zuckerberg of Facebook, these people are very much the minorities. Klein claims that every individuals have the opportunities to be an entrepreneur and to build a business provided there are passion, attitude and valuable mentors that are able to complement the skills that individuals have.(10) moreover Klein also states that innate skills that leads to entrepreneurship may have negative effects reason being, as stated by John Delmatoff (Karen.Klein, 2010) natural born entrepreneurs may rely heavily on the given skills and not on the skills that they learned. Short focus span is one off the common error made by inborn entrepreneur, not having adequate attention on one idea while having simultaneous ideas at the same time. Other factors and perhaps the most essential traits to be a successful entrepreneur that can be practiced intentionally includes optimism and persistence, by learning how to be optimist one's are able to overcome obstacles

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despite the long standing debate about the academic research on this specific subject, there are still little agreement about the definition of entrepreneurship. Entrepreneurs are describe as innovator, risk taker, opportunist and agents of change. (Nadeem.Shafi, 2012) In both arguments comparisons, Entrepreneurs being born to be successful seems to be more reasonable for people to perceive, Successful entrepreneurs that is being depicted by people are most likely iconic in a sense that the term entrepreneur are being used as a status of a very successful person, minorities of them apparently are born to be entrepreneurs. Take Steve Job as an example, on the early age when he is in high school he was offered an internship at Hewlett-Packard, next he dropped out of college and at the age of 20, Steve jobs and his partner setup the Apple brand. (Entrepreneur.Staff, 2012) on the future years Apple brand lead by late founder Steve Jobs has become one of the most successful brand, innovating products that revolutionize the consumers market. The ability of Steve Jobs to be innovative and risk takers since early age have earn him a reputation of being born as an entrepreneur with an obvious statement that majority of his earned skill are not dependent on being educated in entrepreneurship, rather it was something that Steve Jobs are passionate about doing. Psychologist also refers Steve Jobs as Hypomanic, he is famous with his "Reality-Distorted-Field"(Rich.Karlgaard, 2006) In reality is that apparently born entrepreneurs have their own exciting moments in life, statistical data shows that the numbers are very rare.

On the other hand however having born as an entrepreneur is not everything that is needed to be a successful entrepreneur. Experiences and knowledge are by far the most important factors that is needed to be a successful entrepreneurs, with those factors applied it enables entrepreneur to be able to overcome obstacles in real life rather than relying solely on innate intelligence. Majorities of leading entrepreneurs around the world are made. one of the example of successful entrepreneur that climb their way to the path of success are Howard Schultz, chairman and CEO of Starbucks. Xerox Corporation is the company that he worked at after his graduation, followed by becoming a general manager at Swedish drip coffee maker manufacturer where Starbucks have been buying the equipment supply from. Upon checking Starbucks out, Schultz are extremely impressed and interested to be part of the company. 1 year is the time it took for Schultz to convince the owner to hire him to be marketing and operational directors. Several years down the road he quits Starbucks due to conflicts of interest with Starbucks owner on business expansion. He started his own coffee business and called it II Giornale, with the success a year later he bought Starbucks for 3.8 million. The company began to rapidly expand in the 90's. Schultz is born from a struggling family with low-paying jobs. The values that is embedded in him, made him "build a company with soul" (Myprimetime, 2011)

In my opinion i would very much agree that entrepreneur are made, one does not need to be a born entrepreneur to be successful, it certainly helps being a born entrepreneur, the subject of entrepreneur as born or made, most likely are the same as a genius in the field being made or born. individuals that may not have these innate traits that born entrepreneur have, such as tendency to take risk, ability to identify promising opportunities and opening up to new experiences, can very much develop them with more effort compared to those who have such traits in natural way. Optimism and persistence are the two most important traits of successful entrepreneurs that can be developed and practiced. also by the recent report and survey by Ernst and Young it is much more convincing and rationale that big corporate entrepreneurs from all around the world are citing that work experiences and education are in one of the top list to be a successful entrepreneur. Every individuals has what it takes to be an entrepreneur, the statement is similar that every individuals can generally do better in certain areas, whether its in relationships, career, family or sports, for the areas that individuals do not excel with proper mentality, optimism, persistence and help will generate great improvements.

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In conclusion both topic of whether entrepreneur is born or made are still a controversial topic. It is not agreeable with the arguments that entrepreneurs are born. Being born as entrepreneur only helps with a few key traits of that may help them in their entrepreneur career, however individuals should not rely most on their innate traits. For an entrepreneur to be successful, individual must gained the knowledge and experience in the industries, time will be taken into account that no learning curve are simple and fast. As entrepreneur, individuals should know that initial success does not determine the success in the future, thus every entrepreneur should strive to be better than the past and not be satisfied with the current success. Since majorities of big and successful entrepreneurs are born and not made, it can be concluded that anyone can be an entrepreneur provided with the right knowledge and experience, adding the factors of determination, optimism and perseverance with the proper directions by the right mentors.

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