Entrepreneur

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Summary

What is an Entrepreneur? Meaning.

Entrepreneurs are innovative persons having a low level of risk avoidance. They even have an 'appetite' for risk:

  • Entrepreneurs start a new business. This is intrinsically a risky venture.
  • They look for opportunities, which are always uncertain.
  • A new company normally has a strong focus on being successful from a financial perspective. To be financially successful, risk has to be taken. On the other hand, if too much risk is taken (shareholder) value can also be destroyed.
  • Entrepreneurs need to find a trade-off between risk and return.

Three Theories to Characterize Entrepreneurs

  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.

What is an Entrepreneurial Organization? Meaning.

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, is Agile, undertakes risky ventures, keen on achieving First-mover Advantage and short Time to Market, 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.


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🔥 NEW Bricolage Theory of Entrepreneurship / Innovation
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Typical Traits and Behavior of Entrepreneurs
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5 comments
Types of Social Enterprises Models
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Why it is So Hard to Share with Businessmen?
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7
 
1 comments
The 7 Ms of the Entrepreneur
An entrepreneur basically manages 7M's, namely;
1. Men
2. Machines
3. Material
4. Money
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2 comments
How Entrepreneurs Reason and Make Decisions
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Publish your Research in Entrepreneurship
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Ecopreneurship Challenges
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What Exactly is Entrepreneurial Spirit?
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How to Trigger / Ignite Entrepreneurship?
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5 comments
Average Age of Entrepreneurs
Most people probably think that most current startups are founded by young entrepreneurs. However, an analysis by Pierre (...)
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2 comments
When should a Firm Engage in Social Business?
Businesses are increasingly attempting to participate in social business. In order to create value by using social appro (...)
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Entrepreneurial Blitzkrieg as Solution to High Unemployment
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5 comments
Common Risks in Entrepreneurial Companies
Although every organization has to deal with a set of risks that are specific to the situation the company is working wi (...)
3
 
What Type of Entrepreneur are You?
What type of entrepreneur are you: an entrepreOWNER or an entrepreSLAVE of your business?
You probably started your (...)
3
 
1 comments
Starting a Company Aimed at Young People
I always dream to create my own company aimed at young people. But how can I start and what do you think young people ne (...)
3
 
2 comments
Steps to Become Self-Employed?
I am an employee of a certain company, and I would like to become self-employed and my own employer. I have an interest (...)
1
 
5 comments
Small Business Mortality Rate
State, local and federal government resources are expended each year to encourage entrepreneurship and small business st (...)
1
 
4 comments

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The top-rated topics about Entrepreneurship. Here you will find the most valuable ideas and practical suggestions.


What is the Contribution Entrepreneurs are Making to the Economy?
What are the contributions of entrepreneurs in national economic development? (...)
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5 comments

A Startup Company in Multiple Industries?
We have started a company and we are focusing on 5 fields simultaneously viz. software, telecom, construction and traini (...)
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Expert Tips

Advanced insights about Entrepreneurship. Here you will find professional advices by experts.


Classes of Innovation | Sources of Innovation

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How to Deliver a Business Pitch?

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Entrepreneurial Strategies in Emerging Markets

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Chanvatipsakul and Wongsurawat (2013) examined the reasons why SMEs are successful in entering emerging markets while bi (...)
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Various sources of information regarding Entrepreneurship. Here you will find powerpoints, videos, news, etc. to use in your own lectures and workshops.


Sources and Methods of Financing a Start-up Company or Small Business

Finance, Start-up Financing, Small Business, SME, Bootstrapping, Equity Capital, Debt Capital, Venture Capital
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The Influence of Emotions and Moods on Decision-Making and Entrepreneurship

Decision Making, Emotional Intelligence, Entrepreneurship, Cognitive Bias
This presentation is about emotions in decision-making, thereby paying specific attention to Emotional Intelligence 1. (...)

Entrepreneurship: Characteristics and Success Factors

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Techniques for Entrepreneurial Thinking

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Establishing an Innovative Social Enterprise

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Preparing a Feasibility Study

Feasibility Analysis
This presentation gives an introduction into the concept of idea/business feasibility studies. The presentation consists (...)

Tools for Social Entrepreneurs

Social Business Idea Generation, Business Development, Funding, Marketing and Partnerships, Social Business Toolkit
This nice toolkit provides many useful tools for social entrepreneurs wanting to establish a social business. It include (...)

Entrepreneurial Finance: Sources Of Funding

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Interesting presentation about the financing of new companies, including the following sections: 1. What makes entrepre (...)

Design Thinking for Innovation

Innovation, Entrepreneurship, Design Thinking, CSR, Social Entrepreneurship, Social Innovation
This presentation is about design thinking and the connection to social entrepreneurship. The presentation includes the (...)

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Presentation that is a workshop about Entrepreneurship in the social sector. The presentation includes the following sec (...)

Interview with Richard Branson on Entrepreneurship

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Richard Branson on Business: Entrepreneurship is all about painting a picture, creating something really special and ma (...)

Social Enterprises: an EU Political Perspective

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Presentation about the social enterprise from a political perspective. The presentation includes the following sections: (...)

Social Entrepreneurship for Sustainable Community Development

Social Entrepreneurship, Entrepreneurial Organization
Presentation that elaborates on the ways social enterprises can contribute to sustainable community development. The pre (...)

Managing New, Dynamic Workplaces through Employee Engagement

Workplace Management, Employee Engagement, Organizational Commitment, Burnout
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Writing a Business Plan for a Social Enterprise

Social Enterprise, Innovation, Entrepreneurship, Corporate Social Responsibility
This presentation provides information about the business planning involved in entrepreneurship. It includes the followi (...)

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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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