25Ent[ 5] - Who are they and how do they do it Entrepreneur...

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1 Who are they and how do they do it? Entrepreneur = one who grasps the middle Entre = middle Prend = to grasp Classical De f nition: “One who assumes risk for the sake of pro f t” Question? If pro f ts are the wages for taking risks, is everyone who makes a pro f t or takes a risk an entrepreneur? “Creative destruction” Joseph Schumpeter
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2 Non-Enterprising Person One who accommodates changes React to risks encountered or foisted upon them Cautiously approach opportunity due to inherent risks Focus on maintaining their well-being Focus on minimizing potential losses (risk) Defensively-minded (passive) Enterprising Person One who demonstrates energy, initiative, and a willingness to undertake new ventures. Proactive risk takers Pursue opportunity despite inherent risks Focus on enhancing their well-being Focus on maximizing or optimizing potential gains Offensively-minded (aggressive) Pursue their ventures for very pragmatic reasons. it may provide a lifestyle consistent with their personality, Quite typically, energy driven enterprisers seek autonomy and want to be the architects of their personal outcomes. (e.g. a divorcee, a “downsizing” victim, an immigrant) They may have the choice foisted on them because they have few other options, or it may allow them the opportunity to be the sole beneficiary of their efforts.
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3 Soloists Establish an enterprise, personally operate it, and make a career out of it. They are security- oriented and are represented by shopkeepers, certified
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This note was uploaded on 11/10/2011 for the course MGMT 4125 taught by Professor Robertdesman during the Fall '11 term at Kennesaw.

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25Ent[ 5] - Who are they and how do they do it Entrepreneur...

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