Entrepreneurial Success - 737 Words

Entrepreneurs ONE: What kind of person tends to be successful as an entrepreneur? In the book Small Business Management: An Entrepreneurial Emphasis, the authors portray an entrepreneur as confident of his or her abilities, as a risk taker because often they use their own cash, because if they have left a secure position with a company they are placing their family at some risk albeit the kinds of risks an entrepreneur takes is considered moderate (Longenecker, et al, 2005, p. 16). Moreover, the authors offer six categories to describe the traits, skills, and other aspects of the proto-typical entrepreneur. Those six categories include: a) commitment and determination (entrepreneurs are tenacious, decisive, and persistent); b) leadership (entrepreneurs are team builders and they are honest in their business relationships); c) opportunity obsessive (entrepreneurs are acutely aware of customer needs and market realities); d) tolerant of risk, ambiguity, and uncertainty (see risk-taker above); e) Cre ativity, self-reliance, ad adaptability (being flexible, open-minded, and uncomfortable with the status quo defines an entrepreneur); and e) motivated to excel (being goal-oriented and fully aware of their own flaws and weaknesses is important) (Longenecker, 16). Are entrepreneurs working in corporations different? According to Morris, et al, some managers that act out entrepreneurial behaviors in a revolutionary manner tend to cross the line of good judgmentShow MoreRelatedEntrepreneurial Spirit950 Words   |  4 PagesThe three pillars of GCUs College of Business are Entrepreneurial Spirit, Innovation and Servant Leadership. These are three key characteristics that are critical in building a strong foundation for students to succeed in their professional growth and in business. This paper reviews each of these pillars and how they apply personally to my work environment and career development. Entrepreneurial Spirit The entrepreneurial spirit is composed of multiple characteristics including but not limitedRead MoreThe World Is Flat By Thomas Friedman1220 Words   |  5 PagesSome of the way these firms are achieving this is through vertical integration, acquisition and using a Greenfield approach. This is successful because Indian workers are already used to a very diverse workforce. Another approach that is gaining success is firms being pocket multinationals meaning that acquire small businesses abroad and use those small businesses to maintain a presence. A benefit of being a pocket multinational is having access to new technology, products and markets but mergingRead MoreSlowly Evolving Organizations Face Extinction1905 Words   |  8 PagesPinkett: â€Å"The Entrepreneur’s Mindset† This video is about Randall Pinkett who first introduces himself about how he always had the entrepreneurial spirit when he was a kid selling lemonade and his toys and during his college years selling relic. He won the fourth season of Apprentice and is the chairman and CEO of BCT company. His speech will be focusing about the entrepreneurial mindset and the two reasons why it is important which is that we are in a tough economic time where those who survive are thoseRead MoreTypes Of Company Traits That Builds And Sustain Companies Growth1459 Words   |  6 Pagesimprove chances for survival. Multiple studies on business success have found similar traits shared by successful companies. A global quantitative research is suggested for more accurate results of successful characteristics. Companies’ Success and Failure Based on Traits A study by Kelly (1997), surveyed 30 companies that have survived for over 75 years. The study showed that organizations which survived the longest achieve long-term success and sustainability through harmony and adaptation, expandingRead MoreSavvy Entrepreneurial Firm991 Words   |  4 PagesSavvy Entrepreneurial Firm Starting a business requires many factors to be successful. The desire to be one’s own boss, pursue one’s own idea or for financial rewards; all must be done with savvy and persistence. Failure should not be an option but a learning process that guides future decisions. We see in the case of the Savvy Entrepreneurial Firm the tenacity and persistence against all odds to survive and be successful because the entrepreneurs were passionate and believed their product wouldRead MoreA Powerful Philosophy Of The Sacramento Technology Industry1444 Words   |  6 Pagesthat enhance your own quality of life financially, socially, or otherwise. Helping the community, however, entails that one does or accomplishes things that enhance the quality of life for others. It is the inability to balance personal success with community success that seems to create a division within the American upper class. There are those who only succeed personally, and there are also those who succeed p ersonally and look out for the well-being of others. Both groups live lavish lifestylesRead MoreEntrepreneurial Opportunity Analysis736 Words   |  3 PagesEntrepreneurial Opportunity: Existing Product, Emerging Market Entrepreneurial opportunities can be found through many sources, but the entrepreneurs own observations are often the most valuable. This includes market knowledge generated as a consumer, such as the authors consumer knowledge of the marijuana industry (Hisrich, Peters, Shepherd, 2013). With this knowledge, the author has been able to identify a need for a heated tool for use with concentrates, both at the manufacturing and consumerRead MoreJim Collins : A Successful Habits Of Visionary Companies987 Words   |  4 Pagescultivate and remain successful as a company, entrepreneurs are to already have this great idea. If not, it will bound to fail, after all there is no formal planning behind it to support and foster success. However, as pointed out, it is often the case that visionary companies experience low entrepreneurial success from the start, yet in the long term they proof to be successful. This is because having or waiting for a great idea shifts away the focus of creating a company. In the second shattered mythRead MoreFocus On Improved Entrepreneurial Spirit1035 Words   |  5 PagesFocus On Improved Entrepreneurial Spirit to Generate Higher Taxes By Mwangi Wanjumbi During a recent talent alignment seminar Gregg, a Kenyan of British origin shared some interesting experiences. The non-governmental organizational executive had proceeded abroad on a month’s business trip. Alongside, he temporarily delegated his responsibilities to Monica, his wife, who is also a colleague at work. But upon his return, Gregg was disturbed that operations had not been as smooth as he could haveRead MoreThe Success Of Success At School1325 Words   |  6 PagesThe average student in a developed country spends 17.7 years in school. Generally, their success within these years of learning is measured by their grades and development but rarely on success in their careers after school. However, despite what many teachers stress to their students, being successful in school does not ensure a successful career in business as this success requires different skills and personality traits. A narrow view is often taken where only western countries are compared. When