The Role of Entrepreneurs in a Competitive Economy (Characteristic for…
The Role of Entrepreneurs in a Competitive Economy
A person who seeks a profitable opportunity and takes the necessary risks to set up and operate a business.
Categories of Entrepreneurs
Classic Entrepreneurs: Mengidentifikasi peluang bisnis dan mengalokasikan sumber daya yang ada untuk memanfaatkan pasar.
Serial Entrepreneurs: Memulai bisnis, menjalankannya, dan kemudian memulai dan menjalankan bisnis tambahan secara berurutan.
Social Entrepreneurs: Mengenali masalah sosial dan menggunakan prinsip bisnis untuk mengembangkan solusi inovatif.
Reasons to Choose Entrepreneurship as a Career Path
Being Your Own Boss: Getting to make all the important decisions.
Financial Success: Entrepreneurs believe they won't achieve their greatest success by working for someone else.
Job Security: Large companies sought efficiency by downsizing and actually eliminated more jobs than they created.
Quality of life: An attractive career option for people seeking to improve their quality of life.
Characteristic for Entrepreneurs
Need to Achieve: Entrepreneurs work hard because they want to excel.
Self-Confidence and Optimism: Entrepreneurs believe in their ability to succeed, they see opportunities where others see danger lurking.
Tolerance for Failure: They view failures as learning experiences and are not easily disappointed when things don't go as planned.
Creativity: Some entrepreneurs find creative solution to problems. others find creative ways to accomplish a task or provide a service.
High Energy Level: Need a high level of energy in order to success.
Vision: An overall idea for how to make their business idea a success.
Tolerance for Ambiguity: Entrepreneurs look for strategies that they believe have a good chance of success and make adjustments quickly when a strategy isn't working.
Internal Locus of Control: Entrepreneurs believe that they control their own destinies.
Starting a New Venture
Finding Financing: Banks are more willing to make loans to entrepreneurs who have been in business for a while.
Creating a Business Plan: Entrepreneurs typically seize opportunities as they arise and change course as necessary.
Government Support for New Venture
Selecting a Business Idea: People willingly work hard doing something they love, and the experience will bring personal fulfillment.
Intrapreneurship: Process of promoting innovation within the structure of an existing organization.