Essay by poisonivUniversity, Bachelor's November 2003

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What is entrepreneurship? Is it important to the organization? How entrepreneurial organization does create and to maintain it's culture?


A myth or a triumph of human spirit? There is no one fixed definition and the following is my own definition.

An entrepreneur uses innovation to exploit or create change or opportunity for the purpose of making a profit. They do this by shifting economic resources from an area of lower productivity to an area of higher productivity and greater yield, accepting a high degree of risk and uncertainty in doing so.

Whether entrepreneurial tendencies exist at birth or developed as person matures, certain traits are usually evident in those who enjoy success.

A passion for the business: The entrepreneur has more than a casual interest in the business because there will be hurdles and obstacles to be overcome. If there is no passion, or consuming interest, the business will not succeed.

Confidence: Entrepreneurs are confident in their abilities and the business concept. They believe they have the ability to accomplish whatever they set out to do. This confidence is not unfounded; however, they often have an in-depth knowledge of the market and the industry.

Self Determination: Nearly every authority on entrepreneurship recognizes the importance of self-motivation and self determination for entrepreneur success. Self determination is a crucial sign of a successful entrepreneur because successful entrappers act out of choice; they are never victim of fate.

Management of Risk: The entrepreneurs take high risk, however, that is usually calculative risk he is taking. He see risk differently from others, this is because of his knowledge of the industry.

A tolerance of ambiguity: The life of an entrepreneur is much unstructured. There is no one step by one step process to follow and there is no guarantee of success. An entrepreneur's...