02 - Entrepreneur and Entrepreneurship

02 - Entrepreneur and Entrepreneurship - ENTREPRENEUR An...

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ENTREPRENEUR • An entrepreneur is a person who has possession of an enterprise, or venture, and assumes significant accountability for the inherent risks and the outcome. It is an ambitious leader who combines land, labour, and capital to create and market new goods or services (Arthur Sulivan, 2003, Economics : Principle in Action) The word "entrepreneur" is a loanword from French. In French the verb "entreprendre" means "to undertake― An entrepreneur is a person who is willing and able to convert a new idea or invention into a successful innovation (Schumpeter,1950)
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ENTREPRENEUR Entrepreneur take actions to commercializes invention or innovation and create New Ventures to appropriate value from them (Burgelman & Hitt, 2007) ―When successful entrepreneur identify an opportunity, they pursue it with vigor. They are immersed in the business day in and day out, risking both capital and time. They are driven to succeed and are probably more afraid of failure than anything else.‖ Wayne Huizenga as interviewed by Donal L. Sexton (Entrepreneur and Wealth Creator, AME, 2001, Vol. 15 No.1) ―Entrepreneurs are persons who take action—they engage in vigorous, persistent efforts to convert their ideas and visions into profitable, operating companies.― Baron, R. (2007). Behavioral and cognitive factors in Entrepreneurship: entrepreneurs as the Active element in new venture creation, SEJ.
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Entrepreneurship is the practice of starting new organizations or revitalizing mature organizations , particularly new businesses generally in response to identified opportunities. Entrepreneurship is often a difficult undertaking, as a vast majority of new businesses fail. Entrepreneurial activities are substantially different depending on the type of organization that is being started. Entrepreneurship ranges in scale from solo projects (even involving the entrepreneur only part-time) to major undertakings creating many job opportunities
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Entrepreneurship’s Attention: To wealth creation centres on identifying new and emerging opportunities in market place (Shane & Venkataraman, 2000) OPPORTUNITY SEEKING Strategic Management’s Attention: How do firms outperform others…. Competitive Advantage ADVANTAGE SEEKING Strategic Enterpreneurship: Pursuit of superior performance via simultaneous opportunity-seeking and advantage-seeking activities (Ireland, Hit, & Simon, 2003)
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Opportunities Strengths Kirzner (1997) : ―Entrepreneur often see what others do not see‖ Kirzner (1997) : ―They have Entrepreneurial Alertness, a superior insight into market imperfection creating an entrepreneurial opportunities‖
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1. Tolong hitung berapa kali tim putih melempar bola basket ke sesama tim -nya 2. Film hanya diputar sekali saja, tidak akan diulang !
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This note was uploaded on 11/06/2011 for the course PSCHOLOGY 201 taught by Professor Dr.mckenny during the Spring '08 term at Delta State.

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02 - Entrepreneur and Entrepreneurship - ENTREPRENEUR An...

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