Entrepreneur
An Entrepreneur is a business owner that is a business creator (who initiates and develops new business ventures).
- AKA: Business Founder, Venture Creator, Enterprise Builder.
- Context:
- It can (typically) identify Business Opportunity through market analysis.
- It can (typically) develop Business Innovation through creative solutions.
- It can (typically) manage Business Risk through strategic planning.
- It can (typically) secure Business Resources through venture funding.
- It can (typically) build Business Teams through talent acquisition.
- It can (often) disrupt Market Dynamics through innovative approaches.
- It can (often) create Market Value through business models.
- It can (often) leverage Social Networks through business connections.
- It can (often) demonstrate Leadership Quality through venture growth.
- ...
- It can range from being a First-Time Entrepreneur to being a Serial Entrepreneur, depending on its venture experience.
- It can range from being a Young Entrepreneur to being a Senior Entrepreneur, depending on its founder age.
- It can range from being a Local Entrepreneur to being a Global Entrepreneur, depending on its market scope.
- It can range from being a Traditional Entrepreneur to being a Digital Entrepreneur, depending on its business model.
- It can range from being a Small-Scale Entrepreneur to being a Large-Scale Entrepreneur, depending on its venture size.
- ...
- Examples:
- Venture Types, such as:
- Technology Entrepreneurs, such as:
- Digital Entrepreneurs, such as:
- Business Impacts, such as:
- Industry Pioneers, such as:
- Steve Jobs, for personal computing.
- Henry Ford, for mass production.
- Market Innovators, such as:
- Industry Pioneers, such as:
- ...
- Venture Types, such as:
- Counter-Examples:
- Professional Manager, who operates but doesn't own the business.
- Business Employee, who works within established ventures.
- Financial Investor, who provides capital without direct management.
- Freelancer, who provides services without building ventures.
- See: Entrepreneurship, Business Innovation, Venture Creation, Start-up Company, Business Development, Professional Manager, Middle Manager, Subject Matter Expert.
References
2023a
- (ChatGPT-OpenAI, 2023) ⇒ https://chat.openai.com/chat Retrieved:2023-4-9.
- Q: What is an Entrepreneur?
- A: An entrepreneur is a person who creates, manages, and runs a business venture or enterprise, typically with the goal of making a profit. Entrepreneurs are characterized by their willingness to take risks, their ability to identify opportunities, their vision for the future, and their determination to succeed. They are often innovative, creative, and have a strong drive to turn their ideas into reality.
Entrepreneurs may start a business from scratch, acquire an existing business, or become a franchisee. They are responsible for all aspects of the business, including planning, financing, marketing, and management. Entrepreneurs often work long hours and take on significant financial risk, but they can also reap great rewards if their business is successful.
2023b
- (Wikipedia, 2023) ⇒ https://en.wikipedia.org/wiki/Entrepreneurship Retrieved:2023-4-9.
- Entrepreneurship is the creation or extraction of economic value. [1] With this definition, entrepreneurship is viewed as change, generally entailing risk beyond what is normally encountered in starting a business, which may include other values than simply economic ones.
An entrepreneur is an individual who creates and/or invests in one or more businesses, bearing most of the risks and enjoying most of the rewards. The process of setting up a business is known as "entrepreneurship". The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures.
More narrow definitions have described entrepreneurship as the process of designing, launching and running a new business, which is often similar to a small business, or as the "capacity and willingness to develop, organize and manage a business venture along with any of its risks to make a profit."[2] The people who create these businesses are often referred to as "entrepreneurs". [3] While definitions of entrepreneurship typically focus on the launching and running of businesses, due to the high risks involved in launching a start-up, a significant proportion of start-up businesses have to close due to "lack of funding, bad business decisions, government policies, an economic crisis, lack of market demand, or a combination of all of these."
In the field of economics, the term entrepreneur is used for an entity which has the ability to translate inventions or technologies into products and services. In this sense, entrepreneurship describes activities on the part of both established firms and new businesses.
- Entrepreneurship is the creation or extraction of economic value. [1] With this definition, entrepreneurship is viewed as change, generally entailing risk beyond what is normally encountered in starting a business, which may include other values than simply economic ones.
- ↑ Diochon, Monica; Anderson, Alistair R. (1 March 2011). “Ambivalence and ambiguity in social enterprise; narratives about values in reconciling purpose and practices". International Entrepreneurship and Management Journal. 7 (1): 93–109. doi:10.1007/s11365-010-0161-0. hdl:10059/613. ISSN 1555-1938. S2CID 144081539
- ↑ "Business Dictionary definitionyuuggtygn". Business Dictionary. Archived from the original on 16 November 2018. Retrieved 21 January 2016.
- ↑ Katila, Riitta; Chen, Eric L.; Piezunka, Henning (7 June 2012). "All the right moves: How entrepreneurial firms compete effectively" (PDF). Strategic Entrepreneurship JNL. 6 (2): 116–132. doi:10.1002/sej.1130. Retrieved 18 May 2017.
2015
- (Ersek, 2015) ⇒ Barrett Ersek, Eileen Weisenbach Keller, and John Mullins. (2015). “Break Your Industry’s Bottlenecks."
- QUOTE: If you want to create a successful business, you have to do more than win your share of customers or control costs — you have to break the rules and overturn the received wisdom about how things work.
2013
- (Levine & Rubinstein, 2013) ⇒ Ross Levine, and Yona Rubinstein. (2013). “Smart and Illicit: Who Becomes An Entrepreneur and Do They Earn More ?." No. w19276. National Bureau of Economic Research,
- QUOTE: We disaggregate the self-employed into incorporated and unincorporated to distinguish between “entrepreneurs" and other business owners. We show that the incorporated self-employed and their businesses engage in activities that demand comparatively strong nonroutine cognitive abilities, while the unincorporated and their firms perform tasks demanding relatively strong manual skills. The incorporated self-employed have distinct cognitive and noncognitive traits. Besides tending to be white, male, and come from higher-income families, the incorporated — as teenagers — typically scored higher on learning aptitude tests, had greater self-esteem, and engaged in more disruptive, illicit activities. The combination of “smart” and “illicit” tendencies as youths accounts for both entry into entrepreneurship and the comparative earnings of entrepreneurs.
In contrast to past research, we find that entrepreneurs earn much more per hour than their salaried and counterparts.
- QUOTE: We disaggregate the self-employed into incorporated and unincorporated to distinguish between “entrepreneurs" and other business owners. We show that the incorporated self-employed and their businesses engage in activities that demand comparatively strong nonroutine cognitive abilities, while the unincorporated and their firms perform tasks demanding relatively strong manual skills. The incorporated self-employed have distinct cognitive and noncognitive traits. Besides tending to be white, male, and come from higher-income families, the incorporated — as teenagers — typically scored higher on learning aptitude tests, had greater self-esteem, and engaged in more disruptive, illicit activities. The combination of “smart” and “illicit” tendencies as youths accounts for both entry into entrepreneurship and the comparative earnings of entrepreneurs.