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    Profile of The Entrepreneur

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    Viviana Iftimie
    There is no single clear profile of an entrepreneur. While some research has found tendencies like optimism and overconfidence, findings on other traits are mixed. Ultimately, an entrepreneur is defined by their ability to discover opportunities, assemble resources, and exploit those opportunities to create wealth through starting and managing business ventures. Entrepreneurs can take many forms from serial entrepreneurs starting multiple businesses sequentially to those starting businesses in parallel fields or through non-traditional means.

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    Profile of The Entrepreneur

    Uploaded by

    Viviana Iftimie
    1K views11 pages
    There is no single clear profile of an entrepreneur. While some research has found tendencies like optimism and overconfidence, findings on other traits are mixed. Ultimately, an entrepreneur is defined by their ability to discover opportunities, assemble resources, and exploit those opportunities to create wealth through starting and managing business ventures. Entrepreneurs can take many forms from serial entrepreneurs starting multiple businesses sequentially to those starting businesses in parallel fields or through non-traditional means.

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    Profilul omului de afaceri - engleza

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    Profile of the Entrepreneur

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    There is no single clear profile of an entrepreneur. While some research has found tendencies like optimism and overconfidence, findings on other traits are mixed. Ultimately, an entrepreneur is defined by their ability to discover opportunities, assemble resources, and exploit those opportunities to create wealth through starting and managing business ventures. Entrepreneurs can take many forms from serial entrepreneurs starting multiple businesses sequentially to those starting businesses in parallel fields or through non-traditional means.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    1K views11 pages

    Profile of The Entrepreneur

    Uploaded by

    Viviana Iftimie
    There is no single clear profile of an entrepreneur. While some research has found tendencies like optimism and overconfidence, findings on other traits are mixed. Ultimately, an entrepreneur is defined by their ability to discover opportunities, assemble resources, and exploit those opportunities to create wealth through starting and managing business ventures. Entrepreneurs can take many forms from serial entrepreneurs starting multiple businesses sequentially to those starting businesses in parallel fields or through non-traditional means.

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    PROFILE OF THE ENTREPRENEUR

    Professor Laura Huang

    WHARTON ONLINE

    Entrepreneurship

    The word on the street about entrepreneurs

    a business leader
    - Investopedia1

    make [a concept]
    viable
    - BN Daily2
    run their own
    companies
    popular press1

    organizes and
    manages a business
    undertaking- US SBA1

    1) h%p://www.inc.com/jus3n-bariso/so-what-is-an-entrepreneur-anyway.html,
    2) h%p://www.businessnewsdaily.com/2642-entrepreneurship.html
    WHARTON ONLINE

    Entrepreneurship

    Given the vast number of opinions

    Who, really, is the entrepreneur?


    Is there a clear profile?
    Can we predict who will be successful?

    Ian Ippolito entrepreneur magazine plaque.png via Wikimedia Commons

    WHARTON ONLINE

    Entrepreneurship

    Is there an Entrepreneurial Mindset1?


    Are some people more adept or predisposed to entrepreneurship (e.g. because of personality)?

    Fundamental Attribution Error : assuming behaviors are caused by someones


    disposition even when circumstances are the real explanation
    Example: assuming driver of speeding car is irresponsible rather than assuming there is an
    emergency
    This type of error is powerful in western cultures (e.g. like USA) - values are individualistic
    and the explanation fits into our world view about fairness, such as good people get rewarded
    We think of famous people (e.g. Bill Gates) rather than the local guy starting a coffee bar
    We admire attributes that came as a result of the success, such as their charity work, and
    not the factors that made them entrepreneurs in the first place
    1) ar3cle in the WSJ The Entrepreneurial Mindset (by Peter Capelli and Laura Huang)
    WHARTON ONLINE

    Entrepreneurship

    What we know from research

    Social Capital, Cognition, and


    Entrepreneurial Opportunities
    Optimism
    Overconfidence

    Image via Wikimedia Commons

    WHARTON ONLINE

    1) Forbes, 2005, Are some entrepreneurs more overcondent than others?


    2) Koellinger, Minni3, & Schade, 2007, I think I can, I think I can:
    Overcondence and entrepreneurial behavior
    3) Keh, Foo, & Lim, 2002, Opportunity evalua3on under risky condi3ons: The
    cogni3ve processes of entrepreneurs

    Entrepreneurship

    Other mixed findings


    Findings related to other traits are still mixed

    1 Risk

    WHARTON ONLINE

    2 Personality

    3 Passion

    Entrepreneurship

    Types of entrepreneurs
    We usually find three main types of entrepreneurs
    1 Serial
    entrepreneurs

    2 Parallel
    entrepreneurs

    3 Non-tradiLonal
    entrepreneurs

    ...

    Someone who
    focuses on starLng
    mulLple businesses,
    one aOer the other
    WHARTON ONLINE

    Someone who focuses


    on starLng mulLple
    businesses, at the same
    Lme (doesnt mean they
    all are successful)

    Someone creaLng a
    job for themselves in a
    variety of idiosyncraLc
    ways by establishing
    businesses

    Entrepreneurship

    Another definition of the entrepreneur

    Regardless of what is said...

    We do know that an entrepreneur is


    a person or team of people that
    1) discover opportunities
    2) assemble resources (people,
    funding, tech, etc.) in order to..
    3) exploit the opportunities and
    create wealth

    WHARTON ONLINE

    Entrepreneurship

    Summary: The Opportunity


    Key points:
    The entrepreneur may have some general social and
    cognitive tendencies, though can exhibit multiple
    profiles and personality types
    At the most fundamental level, entrepreneurs assemble
    resources to exploit opportunities to create value

    WHARTON ONLINE

    Entrepreneurship

    WHARTON ONLINE
    KNOWLEDGE FOR ACTION

    Entrepreneurship

    WHARTON ONLINE

    Entrepreneurship

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