Entrepreneur

Description of Entrepreneurial Organization. Explanation.

Definition Entrepreneur. Description.

1. An entrepreneur is someone who starts and organizes a business or a company (functional theory).

2. Typical attributes or orientation of such an individual are: innovative, initiative, creativity, assuming financial risk, problem solving, visionary / strategic, seeing a Strategic Window, strong belief in their idea, optimism, engaging uncertainty, achiever, hard worker, leadership, accepting responsibility (supply theory).

3. The demand theory holds that entrepreneurs mostly emerge out of the combination of entrepreneurial opportunities and people who are well-positioned to take advantage of them. Thus, anyone who encounters the right conditions might become an entrepreneur, if they find themselves in a position where they find a valuable problem that they alone can solve.

Definition Entrepreneurial Organization. Description.

An entrepreneurial organization could therefore be described as a company or agency that:

1. Has recently started. Compare: Business Incubator.

2. Displays the same attributes or orientation as an entrepreneur. Can-do attitude, is proactive, engages heavily in product innovation, undertakes risky ventures, keen on achieving First-mover Advantage, has a Flat Organizational Structure. Compare: Organization Chart.

3. Is in a Competitive Environment offering entrepreneurial opportunities.

Entrepreneurial behavior can be stimulated by Incentives. The philosophy that focuses on stimulating individual employees to act in an entrepreneurial way is referred to as Intrapreneurship.

Compare with: Organizational Configurations  |  Virtual Business  |  First-mover Advantage  |  Second-mover Strategy  |  Feasibility Study  |  Blue Ocean Strategy  |  Competitive Environment  |  Competitive Position  |  Illusion of Control Bias  |  Loss Aversion Bias  |  Disruptive Innovation  |  Innovation Adoption Curve  |  Flat Organizational Structure  |  Entrepreneurial Government  |  PAEI  model  |  Stretch Goals

Return to Management Hub: Change & Organization  |  Communication & Skills  |  Decision-making & Valuation  |  Finance & Investing  |  Human Resources  |  Leadership

More Management Methods, Models and Theory  |  Return to Management Dictionary  | 

End of description Entrepreneurial Organization. An explanation.