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Friday, 04 November, 2016
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 Entrepreneurship            >

 
 
 
 
 
 
 
 
 
 
 
Book Suggestion
Foundations of Entrepreneurship and Economic Development
 

Foundations of Entrepreneurship and Economic Development

By David A. Harper 
288 pages
 
Read Online
 
Corporate Entrepreneurship: Top Managers and New Business Creation
Corporate Entrepreneurship:  Top Managers and New Business Creation
By Vijay Sathe
407 pages
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Entrepreneurship: The Way Ahead
Entrepreneurship:  The Way Ahead
By Harold P. Welsch
328 pages
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The Trillion-Dollar Enterprise: How the Alliance Revolution Will Transform Global Business
The Trillion-Dollar Enterprise: How the Alliance Revolution Will Transform Global Business
By Cyrus Freidheim
272 pages
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Definition of Entrepreneurship

Entrepreneurship is a global phenomenon as sighted by Lu and Beamish (2001). There is no single agreed definition of entrepreneurship. According to Krueger (2003), an entrepreneur is one who thinks differently, in many ways.  Shane and Venkataraman (2000) define entrepreneurship as a field of business, in a quest to identify the opportunities and how to create something new.

Another study by Baron, Scott and Shane (2005) suggest that entrepreneurship is a process that unfolds over time and that moves through distinct but strongly interconnected phases. The entrepreneurial cannot be divided or easily illustrious stages but typically it involves the creation of new products or services and discovery of an opportunity, assembling the resources. The entrepreneurial process are normally influence by the group, individual or the societal factors.

To be a successful entrepreneur, one has to acquire many skills in order to maintain or sustain the entire lifespan of the business as success factors.

Important Success Factors must have:

1. Need to be persistent, Tenacious and Resilient

According to some research by (Cahill, 1994), most projects fail due to entrepreneurs just do not keep up persistently at their projects because they just simply gave up for some reasons. Being persistent and never give up attitude are important criteria for entrepreneurs to be successful because success rarely come overnight.

Comment by WR: Without persistence, any jobs or potential viable business won't be created or achieved. As the entrepreneur will only work base on his or her likings. Therefore, in order to be successful, the entrepreneur must really concentrate and focus through all the intended vision and mission when they first plunged into entrepreneurship.

 

 

 
 

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