Definition Entrepreneur. Description.
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An entrepreneur is someone who starts and organizes
a business or a company (functional theory).
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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).
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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:
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Has recently started. Compare:
Business Incubator.
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Displays the same attributes or orientation as an entrepreneur.
Can-do attitude, is proactive, engages heavily in product innovation, is Agile, undertakes
risky ventures, keen on achieving
First-mover Advantage,
has a Flat Organizational
Structure. Compare: Organization
Chart.
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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.
Recent User Comments
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- India
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Startup Company in 5 Industries? |
"We have started a company and we are focusing on 5 fields simultaneously viz. software, telecomm, construction and training and electrical contracts( local work). The reason why we are concentrating on all these fields at the same time is we are a very small company and need sources of revenue generation. We will focus on a single field after say 2 yrs or generating enough revenue. Is this a good strategy? Or should we concentrate on a single industry or field only right from the beginning?" |
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Grace Edward - Nigeria
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Entrepreneurial Organisation |
"An entrepreneurial organisation is essentially made up of numerous individual entrepreneurs who are willing and able to show leadership and motivation in business." |
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 Comment on this Page
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
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