The paper "Entrepreneurship as a Concept " is a great example of a management essay. Entrepreneurship as a concept is widely growing and the world bodies are continuously witnessing widespread growth in the entrepreneur. The rapid rise in the entrepreneur and its characteristics has resulted in a lot of academic research to identify the constituent of a good entrepreneur. This is backed by the fact that an internet poll shows that 90% of the people belonging to the age bracket 25 to 44 hoped to become entrepreneurs (Casto, 2011). This has been backed by a study from Ernst & Young which suggest that 75% of the influential Americans believe that in the 21st Century entrepreneurship will be the defining moment.
This has raised the importance of entrepreneurship and it becomes imperative to understand the personality traits and characteristics being demonstrated by entrepreneurs. This paper thereby looks to present the personal requirements of an entrepreneur and looks towards presenting some of the examples from the business world. Further, the paper also presents a reflection regarding the learning from the course and thereby helps to identify the strengths and weakness which will help in the future. This helps to define entrepreneurs as persons who use creativeness, innovation and has foresightedness to come up with new ideas so that the business which is started is effective and then identifies the mechanism through which the business will be managed (Duck, 2012).
An entrepreneur thereby performs different roles and functions and looks towards coming up with different ideas through which the business can be improved. This identifies that the entrepreneur demonstrates different characteristics which are required to become an entrepreneur and are as follows Firstly, the most important requirement for being an entrepreneur is to show leadership and responsibility traits (Zwilling, 2011).
It is important that the person looking to be an entrepreneur demonstrates leadership ability and instead of passing on the blame looks to solve the issue and makes the workforce identify the path that they have to follow to accomplish the larger goals. Secondly, an entrepreneur needs to highlight ambitious quality (Zwilling, 2011). An entrepreneur looks to be confident and highlights different ideas and abilities. This helps the business to have many ideas and working on different alternatives ensures better business.
Since the entrepreneur never gives up it thereby increases the likelihood of accomplishing larger goals. Thirdly, an entrepreneur needs to have a vision (Schawbel, 2012). The entrepreneur is able to clearly state the thing they look to the state over a period of 10 to 15 years. They are also able to identify the resources that they will require to accomplish those. This helps them to direct the workforce in a manner that helps them to accomplish the group goals. Fourthly, the entrepreneur demonstrates a sense of passion for the product or services (Schawbel, 2012).
Since an entrepreneur is able to understand that the idea he has can be accomplished has resulted in the entrepreneur motivating people and inciting them to work so that the goals can be achieved. Fifthly, entrepreneurs are able to motivate oneself and don’ t require any external resources to motivate them (Deebano, 2012). Since entrepreneur are able to identify different opportunities that will help them to accomplish the larger picture as a result of which the entrepreneur is able to motivate themselves to work towards work which is difficult to accomplish thereby differentiating them from others.
Casto, M. 2011. Characteristics of an Entrepreneur. Retrieved on April 25, 2012 from http://www.4-small-businesses.com/characteristics-of-entrepreneur.html
Characteristics. 2012. Characteristics of an Entrepreneur. Retrieved on April 25, 2012 from http://knol.google.com/k/characteristics-of-an-entrepreneur#
Duck, D. 2012. 10 Characteristics of an Entrepreneur. Retrieved on April 25, 2012 from http://deweyduck.hubpages.com/hub/10-Characteristics-of-an-Entrepreneur
Deebano, J. 2012. Key Characteristics of an Entrepreneur. How many do you have? Retrieved on April 25, 2012 from http://jamesdebono.com/characteristics-of-an-entrepreneur/
Entrepreneur. 2012. 5 Key Characteristics of an Entrepreneur. Retrieved on April 25, 2012 from http://www.lifehack.org/articles/management/5-key-characteristics-of-a-successful-entrepreneur.html
Schawbel, D. 2012. Brand Characteristics of an Entrepreneur. Retrieved on April 25, 2012 from http://www.wetfeet.com/advice-tools/career-planning/brand-characteristics-of-an-entrepreneur
Stephenson, J. 2012. 25 Common Characteristics of an Entrepreneur. Retrieved on April 25, 2012 from http://www.entrepreneur.com/article/200730
Sam. D. 2011. Top 10 Female Australian Entrepreneur & Business Woman. Retrieved on April 25, 2012 from http://www.mytopten.com.au/2011/07/top-10-female-australian-entrepreneurs-and-business-women/
Zwilling, M. 2011. The Seven Characteristics of a Committed Entrepreneur. Retrieved on April 25, 2012 from http://articles.businessinsider.com/2011-01-17/strategy/30098243_1_successful-entrepreneurs-real-commitment-work