ENTREPRENEURSHIP

Entrepreneurs: Born or Made.



Table of Contents

Abstract1

Introduction2

Review Literature2

Approaches to Entrepreneurship3

Entrepreneurial Goal7

Discussion7

Conclusion11

References13

Abstract

The debate that entrepreneurs are born or made is not new. The objectives of entrepreneurs also differ from entrepreneur to entrepreneur. The ultimate profit of every business is profits. Entrepreneur is a person who bears the risk and transforms an innovation into an economic good, through his/her skills and abilities. It is debated for so long now, that whether this breed of entrepreneurs is born or made. The two sides present their arguments from theories, literature and practical examples. An entrepreneur is the one who involves in the process for entrepreneurship, which requires many roles and functions to be played in the effective and efficient manner. The objectives of entrepreneurs also differ from entrepreneur to entrepreneur. There are many important roles in the process of entrepreneurship which include conducting the feasibility of idea, planning, leading, controlling, resourcing and turning them into reality. The ultimate profit of every business is profits. It's not an either or game in reality to decide whether an entrepreneur is born or made. It's something that is in between. While almost every one with knowledge idea and good managing ability can become an entrepreneur, however, the most successful ones are simply gifted. Intuition plays a big role which is very close to inborn characteristics. While the knowledge and experience do add to intuition, however, it is not necessary that senior person will have better intuition always, some people just have it. The business environment today is very competitive and requires much more than simple idea. It requires its manager to have known how of how to formulate, implement and control strategies. The ad-hoc approaches of formulating business strategies are gone. This retires knowledge and experience, therefore, the notion that entrepreneurs are made is not false in any sense.

Entrepreneurs: Born or Made.

Introduction

Entrepreneur is a person who bears the risk and transforms an innovation into an economic good, through his/her skills and abilities. It is debated for so long now, that whether this breed of entrepreneurs is born or made. The two sides present their arguments from theories, literature and practical examples. An entrepreneur is the one who involves in the process for entrepreneurship, which requires many roles and functions to be played in the effective and efficient manner. There are many questions which have to be answered if any of the sides seeks to convince the audience. If the entrepreneur is born and not made then why the statistics reveal that most of the entrepreneurs start their own business after the age of 40 and after acquiring 15 to 20 years of experience (Yecies, 2012: n.d.). However, if the entrepreneurs are not born and made then why not every person in this world becomes a successful entrepreneur after proper education. If the entrepreneur is born and not made then how come they perform all the diverse function of planning, leading, controlling, hiring, motivating, rewarding, and decision making? All these questions need to be answered by both the parties ...