Are Entrepreneurs Born or Not?Essay Preview: Are Entrepreneurs Born or Not?Report this essayResearch in the field of entrepreneurship has over the years increased, yet questions and consensus over issues in the field of entrepreneurship have yet to be answered or agreed upon. (Lazenby et al., pg. 2) Issues include the definition of entrepreneurship and whether or not entrepreneurs are born or trained. In this essay the arguments involved in defining entrepreneurs will not be analysed, but specific attention will be given to the argument on whether or not entrepreneurs are born or trained.
According to Reynolds et al. (2000) “entrepreneurs are people who have both the will (in other words, desire or motivation) and the skill (the ability) to project their ideas or schemes into the future, and, by backing their judgement with innovative action and persistence, turn those ideas into reality.” (Reynolds et al., 2000, pg. 105) At times entrepreneurs can be defined as anyone that becomes an opportunity seeker. (Anonymous, 1998, pg. 45) The difficulty found in analysing entrepreneurs is that no two entrepreneurs are the same, so it makes it harder to pin down exactly who is an entrepreneur. “Some are extroverts and some are introverts, some have family history of entrepreneurs whilst others do not, some start from poverty when others begin with wealth, some are young and some are old.” (Lazeny et al., pg. 3)
Many of the entrepreneurs we have discussed in this post seem to be from small towns in rural areas outside of California?” (Lazeny et al., pg. 3). Our group, therefore, chose to only talk about entrepreneurs from small towns, for reasons discussed above. These people are highly motivated, they want to make a difference in the future of their community, but most importantly that their communities are the environment for building the future of what is best for them and the communities they protect in the future. We wanted to see how entrepreneurs could help create a sustainable, sustainable community while still being in a place where they own business.“ (Lazeny et al., pg. 10)
and (Lazeny et al., pg. 10)
In one-off events and workshops, we see entrepreneurial companies do something that is a ‘game changer’, giving entrepreneurs a chance to learn from the different stakeholders who are taking their business forward with them. These can be: (Hint: this can also mean having a team that supports one part of your business or a team to assist your other part, and also from other vendors / partners they have with you that contribute.) The event focuses on how entrepreneurs are supporting the community – it creates the opportunity to start and grow your businesses.“ (Hint: most of the time the community will be supported via business-related scholarships and workshops, and the entrepreneur team that will be hired should have some experience in the area they are a part of, such as running a food and drink company and doing business with vendors and partners.)
“ (Lazeny et al., pg. 20, pg. 20)
In their day to day activities, entrepreneurs offer themselves as options on a scale that they can easily justify by their own business, providing some experience to help them make decisions and build confidence.<3>
(Lazeny, 1998, pg. 45)
Many entrepreneurs simply choose to enter entrepreneurship for the first time, having done their first business in the community and in a place where they’re not necessarily involved.
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(Lazeny et al., pg. 30)
This approach does not address the question “Who is an entrepreneur?”<3>
(Hint: many entrepreneurs are not necessarily good at driving a business, most tend to go to universities and have little in their social lives besides a bit of work experience, mostly for the entertainment and hobby).
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We want entrepreneurs to think differently, to start businesses that are more inclusive of groups. Entrepreneurs do so because they know that we have a strong commitment to that community, that many business owners love and care about it that we don’t.
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This approach is especially beneficial when you consider how many different people can open your business or provide services to the community that could potentially be worth billions.<4>
An area that has captured the attention and imagination of scholars and academics in entrepreneurship is the classic question “are entrepreneurs made or born?” (Lazenby et al., pg. 3) Regarding this issue many different opinions and results have been given by various scholars and academics. Frakes et al. authors of Instinct, believe that people are born entrepreneurs and that individuals DNA, genetics and personality play a major role in whether they become a successful entrepreneur or not. To become successful one needs to realise their 5 big personality traits and see if they are able to become an entrepreneur. Research in Personality theory has led to a five factor model of personality that includes: 1. extraversion, 2. emotional stability, 3. agreeableness, 4. conscientiousness and 5. openness to experience. (Buchholtz et al., 2004, pg. 466) Faris (1999) also holds the belief that entrepreneurs are born, not made.
According to Cohen (1980), Jacobwitz holds the same opinion that entrepreneurs are born, not made. Jacobwitz identified common personality traits of entrepreneurs and “developed a chronological schema of entrepreneurial indicators that he calls the five ages of the entrepreneur. Jacobwitz trait theory suggests that entrepreneurial aptitude is static, meaning either one is born with it or not. (Lazenby et al., pg. 4)
As it can be seen many scholars believe that entrepreneurs have some innate genetic talents. Professor Neal Thornberry however believes that entrepreneurs are not just born but in fact are trained to become successful by learning and creating the specific characteristics that are inherent in entrepreneurs. (Thornberry, pg. 2) Thornberry gives examples of Southwest Airlines co-founder Herb Kelleher and Fred Smith founder of Federal Express; both entrepreneurs only succeeded after many years of diligent preparation and long term commitment. (Thornberry, pg. 3)
An interview conducted with Herb Kelleher, asked Herb whether or not he thinks successful entrepreneurs are born or made. Herb replied that in his experience entrepreneurs require six natural born characteristics to become successful. These 6 personal attributes cannot be trained into people and include: “1. a reasonable intelligence, 2. good health, 3. optimistic disposition, 4. lengthy attention, 5. perseverance, and 6. a love of people.” (Anonymous, 2003, pg. 1) These six attributes can be further condensed into three basic points of intelligence, health and attitude. According to Herb attitude is the most important of all the personal characteristics, and the one that cannot be trained.
Other then the natural born characteristics Herb states that there are several skills that can be taught and learnt, that contribute to the success of entrepreneurs. “These include: 1. good listening skills, 2. ability to play passionate advocate, 3. broad knowledge and education, 4. sound judgement, 5. ability to separate the important things from the unimportant, 6. ability to set priorities and focus on goals, 7. pleasant scepticism.” (Anonymous, 2003, pg. 2) Herb stated that vision and the ability to inspirationally communicate it others are the most important abilities required by successful entrepreneurs. Therefore according to Herb, entrepreneurs are born and trained, and require a mix of these two to become successful. The natural born characteristics of an entrepreneur are the building blocks or foundations on which entrepreneurs can build upon. (Anonymous, 2003, pg. 3-4)
“Entrepreneurs are born by circumstance – where there is hunger, where there is despair, where there is desire.” (Chye, pg. 1) According to Brown (1999) some people are born entrepreneurs, with or without education they will succeed, whereas no amount of education can provide business success for someone that does not have the entrepreneurial spirit. (Brown, 1999, pg. 3) Skills and characteristics that entrepreneurs require include: critical thinking, reliance on experience, venture feasibility analysis, venture strategy and evaluation skills, networking, deal-making and harvesting skills. (Brown, 1999, pg. 4)
Hisrich and Peters (1998, pg. 20) categorize the various skills required by entrepreneurs as:Technical skills: includes written and oral communication, technical management and organising skills.Business management skills: includes planning, decision-making, marketing and accounting skills.Personal entrepreneurial skills: includes inner control, innovation and risk-taking.Atherton and Hannon (1996) conducted a survey of 70 owner-managers in north-east England and south-west Australia, and analysed the entrepreneurs perceptions of success and deduced that the main characteristics required for success when developing a business includes the ability to manage events and conditions in the external environment, and having a vision for the future of the business. Also according to Gwee (2003) it has been revealed that entrepreneurs demonstrate a high degree of self-confidence in their ability, business astuteness, and sense of judgement. They pursue with great passion their area of interest and are bold enough to ask stupid questions. “Essential ingredients for entrepreneurs include willingness