Professional Documents
Culture Documents
Entrepreneur: Entrepreneurs are people that notice opportunities and take the initiative to mobilize resources to make new goods and services. whose goal is to create or capitalize on new economic opportunities through innovation Entrepreneurship: Process through which entrepreneurs create and grow enterprises Entrepreneurial community: Community where significant economic and social entrepreneurial activity exists within an effective system of public and private support Entrepreneurship development: Policies and prs (public and private) that foster entrepreneurship
What is Entrepreneurship?
Academic Definition (Stevenson & Jarillo)
Entrepreneurship is the process by which individuals pursue opportunities without regard to resources they currently control.
Identifying Entrepreneurs
People with underused talent Social entrepreneurs Small businesses
Unemployed
tEntrepreneurship
High-growth businesses
Youth
Self- employed
Innovators
Unsuccessful
Poor Managers Low work ethic Inefficient Failure to plan and prepare Poor money managers
Financial rewards
Product/Customer Focus
A second defining characteristic of successful entrepreneurs is a product/customer focus. An entrepreneurs keen focus on products and customers typically stems from the fact that most entrepreneurs are, at heart, craftspeople.
Execution Intelligence
The ability to fashion a solid business idea into a viable business is a key characteristic of successful entrepreneurs.
Job Creation
Small businesses are the creators of most new jobs in the U.S., and employ half of all private sector employees. According to a Kauffman Foundation survey, 92% of Americans say entrepreneurs are critically important to job creation.