What is an entrepreneur, its characteristics and personalities?
An entrepreneur is a risk taker in the private enterprise system, a person who seek a profitable opportunity
and then devises a plan and forms an organization to achieve the
objective. Some entrepreneurs set up new companies and ventures; others
revitalize established concerns.
Without the willingness to take risks, there would be no successful businesses, and the private enterprise system could not exist.
Research on the characteristics and personalities of entrepreneurs has suggested that they have greater tendencies for risk taking and greater needs for achievement, independence, leadership, and recognition than the average individual.
A recent study examined the literature dealing with personality differences between successful and unsuccessful entrepreneurs. The study found that unsuccessful entrepreneurs might lack necessary management skills required beyond the creating stage.
The skills necessary for actually operating a business differ from those necessary for beginning a business. Moreover, the satisfaction of creating a business is often more gratifying to the entrepreneur than seeing it managed effectively. Once the business begins to function, some entrepreneurs lose interest.
In another study, adult students in an entrepreneurial program at the Laval University School of Business Administration in Quebec were examined for personality and background differences between those who remained and those who left the program.
Those who remained were older, suggesting perseverance and experience; changed jobs less frequently; were more optimistic; were more aware of expected difficulties; were more aware of self-limitations; and had more supportive environments.
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| Photo: freepik.com |
Without the willingness to take risks, there would be no successful businesses, and the private enterprise system could not exist.
Research on the characteristics and personalities of entrepreneurs has suggested that they have greater tendencies for risk taking and greater needs for achievement, independence, leadership, and recognition than the average individual.
A recent study examined the literature dealing with personality differences between successful and unsuccessful entrepreneurs. The study found that unsuccessful entrepreneurs might lack necessary management skills required beyond the creating stage.
The skills necessary for actually operating a business differ from those necessary for beginning a business. Moreover, the satisfaction of creating a business is often more gratifying to the entrepreneur than seeing it managed effectively. Once the business begins to function, some entrepreneurs lose interest.
In another study, adult students in an entrepreneurial program at the Laval University School of Business Administration in Quebec were examined for personality and background differences between those who remained and those who left the program.
Those who remained were older, suggesting perseverance and experience; changed jobs less frequently; were more optimistic; were more aware of expected difficulties; were more aware of self-limitations; and had more supportive environments.
What is an entrepreneur, its characteristics and personalities?
Reviewed by BP Admin
on
August 02, 2017
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Reviewed by BP Admin
on
August 02, 2017
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