The majority of start-ups worldwide need to declare bankruptcy after a short time. The art here is to assure the survival of the business and to guarantee its expanding.
There are various theories trying to explain why some people can make it and others do not. Is it due to the education? Another question in this context is, if it is possible to become a successful entrepreneur or if entrepreneurs have some inherent qualities or talents that others never will have. The role of the entrepreneur in society has changed in recent years. He has improved his international standing; people recognise his creative innovations that simplify our lives, boosting the economy through self-exertion and adding new jobs.
The German Chamber of Industry and Commerce supports this point of view. Nowadays, entrepreneurial studies of legends like Henry Ford, Thomas Edison, Bill Gates, Walt Disney and Anita Roddick play an important role in academic business lectures and are portrayed as role models for an assured economical future.
In general, entrepreneurs can have different roles. Amongst others, they can be intrapreneurs, be a Me-Stock-Corporation and owners of an entrepreneurial company. The entrepreneurial company is also an explored part in this essay. In comparison with the so called small business there are interesting differences that also help to clarify the term entrepreneurship itself. There are behavioural, psychological, social, economical and many other approaches to describe entrepreneurship.
It is clear that it is hard to define the term entrepreneur and that there is no generally accepted answer. In the 15th century the term has been used to portray people that take risks, especially during wars. Entrepreneurs buy at certain prices in the present and sell at uncertain prices in the future. The entrepreneur is a bearer of uncertainty.
The French economist and businessman Jean-Baptiste Say complemented that statement by focusing on entrepreneurs as co-ordinators of production factors. What makes the entrepreneurial personality of a person? Basically there is not a coherent, all-embracing, generally accepted definition of the term Entrepreneurship. In the international literature there are various attempts to define it; many authors had not only given economical, but also psychological, sociological and anthropological opinions. Gartner Study In the following chapter the entrepreneurial profile will be described in detail, using different approaches like observing external influences and analysing personality attributes.
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