tag:blogger.com,1999:blog-38894514.post783982418655880246..comments2022-05-03T16:20:14.710-07:00Comments on Entrepreneurs' Workshop Log: Define EntrepreneurshipPhilhttp://www.blogger.com/profile/13753921112128111694noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-38894514.post-77534482813460579222012-06-07T02:33:51.125-07:002012-06-07T02:33:51.125-07:00Great post and comments.Great post and comments.Lauritsnoreply@blogger.comtag:blogger.com,1999:blog-38894514.post-28727516132863153452012-01-17T05:47:15.424-08:002012-01-17T05:47:15.424-08:00'Breakthrough Entrepreneurship' by Jon Bur...'Breakthrough Entrepreneurship' by Jon Burgstone and Bill Murphy seems to be a very interesting and useful book! thanks for this great recommendation! I absolutely love to read books about business in general and successful entrepreneurs like Richard Branson or <a href="http://www.linkedin.com/pub/dir/Yury/Mintskovsky" rel="nofollow">Yury Mintskovsky</a>. They are very inspiring and motivational!stacie28https://www.blogger.com/profile/08784982811726082465noreply@blogger.comtag:blogger.com,1999:blog-38894514.post-75460609819705704692012-01-17T00:59:19.882-08:002012-01-17T00:59:19.882-08:00"a person who is willing and able to convert ..."a person who is willing and able to convert a new idea or invention into a successful innovation" <br /><br />The Understanding of entrepreneurship owes much to the work of economist Joseph Schumpeter in the 1930s and other Austrian economists such as Carl Menger, Ludwig von Mises and Friedrich von Hayek. For Schumpeter, the entrepreneur did not bear risk: the capitalist did.<br /><br />The behavior of the entrepreneur reflects a kind of person willing to put his or her career and financial security on the line and take risks in the name of an idea, spending much time as well as capital on an uncertain venture. The acts of entrepreneurship are often associated with true uncertainty, particularly when it involves bringing something really novel to the world, whose market never exists. Entrepreneurs are often contrasted with managers and administrators who are said to be more methodical and less prone to risk-taking. The vast literature studying the entrepreneurial personality found that certain traits seem to be associated with entrepreneurs. Many real-life entrepreneurs operate in teams rather than as single individuals.<br /><br />Motivated by an overwhelming need for achievement and strong urge to build or create something new, the entrepreneurs are tough, pragmatic people driven by needs of independence and achievement. They seldom are willing to submit to authority. Prone to insights, brainstorms, deceptions, ingeniousness and resourcefulness, they are cunning, opportunistic, creative, and unsentimental. <br /><br />Entrepreneurs exhibit extreme optimism in their decision-making processes, and thus are prone to overconfidence and over generalizations.<br /><br />Creativity requires a nomadic life of endless study. Creative destruction and recombination of ideas, requires a lack of fear of failure, and a level of persistence and economic courage uncommon in conservative capitalism. <br /><br />Of debate is the importance of short-term vs. long-term gains in the ethical implementation of risk and in assessing opportunities. Some large corporations and government try to implement policies that encourage entrepreneurship without setting guidelines that limit the type of risk or implementing specific goals, and fall victim to short term profiteers and opportunists who use such policies for personal gain at the expense of the group.<br /><br />Warning: Unrealistic beliefs and over-confidence may also be indicative of narcissistic tendencies that boarder upon sociopathic disorders. True entrepreneurs understand the consequences of their risks and do not gamble on the outcome, they only act when they can directly effect the outcome of their gamble, putting the ball in their court and control of the probabilities on their side.Philosopher3000https://www.blogger.com/profile/02942266294640299113noreply@blogger.com