Premium Essay

“Entrepreneurs Are Born Not Made.” Critically Analyse This Statement with Reference to the Literature and to Your Experience of Entrepreneurship.

In: Business and Management

Submitted By martinb195
Words 3376
Pages 14
“Entrepreneurs are born not made.” Critically analyse this statement with reference to the literature and to your experience of entrepreneurship.
This essay aims to evaluate the various traits identified with entrepreneurs, and then establish whether entrepreneurs are born with these traits, or whether, they are shaped and developed through their life experiences. Put simply the purpose of this essay is to establish whether entrepreneurs are ‘born or made’. This essay focuses on two distinct schools of researchers in the field of entrepreneurship: The more traditional group of researchers has focused on the personality characteristics of the individual, the internal factors, whilst a second group of researchers have taken a social cognitive approach. They look at the relationship between an individual and his or her environment. The external factors include culture, role models, work experience, education, and environment. This essay looks at the early definitions of an entrepreneur, evaluates the literature which supports the theory that entrepreneurs are ‘born’, and also evaluates the proposal that there is a relationship between the individual entrepreneur and their social environment, that is, entrepreneurs are ‘made’.
Cantillon (1756) defined the entrepreneur as engaging in business without an assurance of profits; thus the bearing of risk being the distinguishing feature of an entrepreneur. Jean Baptiste Say expanded on this by making the entrepreneur the pivot of the economy, and a catalyst for economic change and development. The entrepreneur was seen as someone willing to take the risk of bringing different factors of production together. The commonly held view of the entrepreneur as a calculated risk-taker is close to the view of Knight (1921) that the entrepreneur is prepared to undertake risk. Profit, according to Knight, is the return for bearing…...

Similar Documents

Premium Essay

Education vs. Experience in Entrepreneurship

...INTRODUCTION 2. FACTS ABOUT ENTREPRENEURIAL EDUCATION 3. IMPORTANCE OF ENTREPRENEURIAL EDUCATION 4. IMPORTANCE OF LIFE EXPERIENCE 5. CONCLUSION 6. LIST OF REFERENCES Introduction Within the last 25 years the number of entrepreneurship courses increased twentyfold and lists over 45,000 books dealing with entrepreneurship. This demonstrates the increasing interest in entrepreneurial education and illustrates that there is a strong belief that entrepreneurship can be taught. In contrast, successful business leader as Zineb Hefiri didn’t attend any entrepreneurial courses and argue that her success came from her life experience.1 Moreover, there are plenty stories about entrepreneurs who run a business without a college degree, some without even finishing high school. Are they the exception or is being an entrepreneur an art that you either have or don't have? What is the road to be a successful entrepreneur? Does entrepreneurship education make people better entrepreneurs? Or are life experiences enough to establish the required skills and knowledge? The purpose of this dissertation paper is to identify what makes a successful entrepreneur and to determine to which extent entrepreneurial education has more impact than a person’s life experiences. ¬¬¬¬¬¬¬¬¬¬¬¬¬¬___________________________________ 1Mondo, M 2011, Entrepreneurship: Managing new venture growth, Pearson Education, viewed 04 December 2011 Facts about Entrepreneurial......

Words: 1167 - Pages: 5

Premium Essay

Entrepreneurs Are Born and Not Made?

...Entrepreneurs are born and not made An entrepreneur is ‘a person who has possession of a new enterprise, venture or idea and assumes significant accountability for the inherent risks and the outcome.’ So are entrepreneurs born? Or made? There have been many debates from businessmen to academics alike on whether entrepreneurs are born or made, but is it as straight forward as that? In this essay I will evaluate arguments both for and against this statement and conclude it with my own personal observation. The argument for this statement that entrepreneurs are born is a scientific one, with the questions being are there specific entrepreneurial genes and/or chromosomes. Some of the characteristics credited to entrepreneurs include extroversion, risk taker, persistence, independent, innovative, opportunistic and the need for achievement. These skills are the reason many believe they are from nature as they go above and beyond those of an ordinary office manager. Many believe that these are skills are innate in a person, that they are born with them and they are skills and characteristics that cannot be taught. (Scott Shane, wall street journal) ‘40 percent of the variation in the tendency to be an entrepreneur is inherited.’ Some people say that not anyone can become an entrepreneur; they have to have the right innate qualities from birth alongside the external influences for their talents to be recognized in business. “If the environment is not conducive then entrepreneurial......

Words: 1378 - Pages: 6

Premium Essay

History of Bangladeshi Entrepreneurs and Entrepreneurship

...History of Bangladeshi Entrepreneurs and Entrepreneurship Several studies on topics like entrepreneurship and entrepreneurs were done by several academicians all over the world in different countries. The issue got immense importance in the eyes of the researchers. The case of Bangladesh is also similar. After the period of British ruling when two new states India and Pakistan came, the economy of this subcontinent was backward, highly agricultural and characterized by massive poverty (Ray, 1992). During the ruling of Pakistanis, though the other side of Pakistan (West Pakistan) saw some economic developments, the portion which is now called Bangladesh (the then East Pakistan) could not see that light. Bangladesh got rid of Pakistani ruling in December 1971.But because of one-eyed behavior of the then Pakistani rulers huge economic problems were already prevailing in East Pakistan even at the pre-independence period. After independence, as a result of the post-war crisis, massive political unrested. The overall economy became more backward and stagnant. From then, even today Bangladesh is known all over the world for its mass-poverty and poor economic growth (Kamal, 1985). Even now-a-day, the dominant sector of economy is the agricultural sector. But investment in agriculture from commercial point of view has not been made much due to ownership problems, existing inheritance laws, uneconomic size of farm, socio-cultural traditions of the people and absence of governmental......

Words: 1251 - Pages: 6

Premium Essay

Entrepreneur & Role Model

...TI 2011-061/3 Tinbergen Institute Discussion Paper Entrepreneurship and Role Models Niels BosmaA Jolanda HesselsB,C Veronique SchutjensA Mirjam van PraagD Ingrid VerheulE Utrecht University; B EIM Business and Policy Research, Zoetermeer; C Erasmus School of Economics, Rotterdam; D Faculty of Economics and Business, University of Amsterdam; E Rotterdam School of Economics; all in the Netherlands. A Tinbergen Institute is the graduate school and research institute in economics of Erasmus University Rotterdam, the University of Amsterdam and VU University Amsterdam. More TI discussion papers can be downloaded at Tinbergen Institute has two locations: Tinbergen Institute Amsterdam Gustav Mahlerplein 117 1082 MS Amsterdam The Netherlands Tel.: +31(0)20 525 1600 Tinbergen Institute Rotterdam Burg. Oudlaan 50 3062 PA Rotterdam The Netherlands Tel.: +31(0)10 408 8900 Fax: +31(0)10 408 9031 Duisenberg school of finance is a collaboration of the Dutch financial sector and universities, with the ambition to support innovative research and offer top quality academic education in core areas of finance. DSF research papers can be downloaded at: Duisenberg school of finance Gustav Mahlerplein 117 1082 MS Amsterdam The Netherlands Tel.: +31(0)20 525 8579 ENTREPRENEURSHIP AND ROLE MODELS Niels Bosma A, Jolanda Hessels B, C, Veronique Schutjens A, Mirjam van Praag D, Ingrid Verheul E A Faculty of Geosciences,......

Words: 11822 - Pages: 48

Premium Essay

Skills and Competencies of a 21st Century Entrepreneur

...START UP PLANNING AND PREPARATION 3 ENTREPRENEUR IN AN ORGANISATION 4 ENTREPRENEUR AS AN INDIVIDUAL 5 ENTREPRENEUR WITHIN THE SOCIETY 5 CONCLUSION 6 RECOMMENDATION 6 REFERENCES 7 ANNOTATED BIBILIOGRAPHY 8 APPENDIX 9 INTRODUCTION Various definitions have been given to the word entrepreneur, due to the changes and complexity of the world’s economic structure. Entrepreneurs have been cussed and discussed, declared to be social misfits and bastions of the private enterprise system. “An entrepreneur sees an opportunity which others do not fully recognize, to meet an unsatisfied demand or to radically improve the performance of an existing business. They have unquenchable self-belief that this opportunity can be made real through hard work, commitment and the adaptability to learn the lessons of the market along the way”.(Martin , 2010). Entrepreneurship is an act of being an entrepreneur which involves initiating in a business venture, gathering the necessary resources and assuming the associated risks and rewards. There are common traits associated with an entrepreneur, most entrepreneurs tend to: * Tolerant of ambiguous situations * Resist conformity * Enjoy risk-taking * Self-reliant, dominant and independent * Be interpersonally aloof yet socially adroit * Adapt readily to change The importance of entrepreneurship for economic development has been widely acknowledged in recent times. Entrepreneurship is assumed to be a major......

Words: 2594 - Pages: 11

Free Essay

Entrepreneurs Are Born Not Made

...REDP The present chapter makes an attempt to assess the impact of REDP training. The impact of REDPs is measured in terms of (i) the number of new enterprises created by REDP trainees, (ii) the creation of new enterprises with and without wage employment, (iii) annual employment generation, (iv) annual incremental income and (iv) attainment of success rate. Thus, the impact of REDP is ascertained on the basis of changes in income and employment as a result of creation of new enterprises. The economics of REDPs is assessed with particular reference to costs and benefits of REDP. Cost includes expenditure incurred per trainee by agencies imparting REDPs, while benefits are taken into account as addition to value of produce and net surplus generated annually. The emphasis of the analysis was on major activities and agencies of the selected districts. Attempts were also made to estimate the Financial Rate of Return (FRR) of the Entrepreneurship Development Programme keeping in view NABARD’s financial contribution on the expenditure side and average net incremental income on income side. Impact of REDP 1. Enterprises set up with and without Wage Employment As mentioned earlier, 793 sample REDP trainees were selected from 1000 REDPs during the survey. Out of which information is available from 701 trainees. Among the 701 trainees, 460 trainees constituting 65.62 per cent were settled new job employment while 241 accounting for 34.38 percent were settled with new units. Details are...

Words: 10665 - Pages: 43

Premium Essay

Born Global Literature

...THE BORN GLOBAL LITERATURE The emerging scholarly literature presents born global firms as an entirely new phenomenon. Traditionally, international business scholars have argued that firms venturing abroad follow a set process of development, beginning at home, with clearly defined stages which unfold sequentially.12 This conventional view was challenged by Oviatt and McDougall’s seminal 1994 analysis,13 which argued that these firms commence their internationalisation at inception, because local competitive forces prevent them from beginning operations within their domestic economies. Additionally, focus Oviatt and McDougall maintained that internationalising firms focus on controlling resources rather than owning them. Traditional international business theory was also questioned by the ‘innovation models’ approach, which identifies managerial innovations within the firm as the driving force of international expansion.14 The observations made in the present investigation accord in part with both the established view of internationalisation and its critics, as the additional extension of born global firms beyond exporting is characterised by impersonal processes as well as entrepreneurship. What is evident, however, is that the firms examined here did not follow a linear path of expansion. Rather, the processes they went through often occurred simultaneously and in a compressed period of time. Existing literature on born global firms lapses......

Words: 4748 - Pages: 19

Premium Essay

‘Leaders Are Born Not Made’. to What Extent You Agree or Disagree with This Statement? Justify Your Answer Using Leadership Theories and Relevant Examples.

...‘Leaders are born not made’. To what extent you agree or disagree with this statement? Justify your answer using leadership theories and relevant examples. ‘The most dangerous leadership myth is that leaders are born – that there is a genetic factor to leadership. This myth asserts that people simply either have certain charismatic qualities or not. That’s nonsense; in fact, the opposite is true. Leaders are made rather than born.’ – Warren G. Bennis (Farlow, n.d.). Leadership is about changing minds and moving organisations forward (Leadership Theories and Styles, 2009). The art of leadership, however focused on a specific goal or vision, is also about the individuals that are being led; learning, advancing and prospering (Farlow, n.d.). Education, mentoring and experience are how leaders are made, they are not born with any genetic capacity to lead. When it comes to leadership, competencies determine what a person can do. Commitment determines what they want to do, and character determines what they will do (Crossan et al., 2012). The theoretical framework surrounding leadership is based upon power of an individual over a collective, moving toward a defined goal or common purpose. It entails planning, organising and controlling to build enthusiasm and maintain momentum (Schermerhorn 361). “The ability of a superior to influence the behavior of subordinates and persuade them to follow a particular course of action.” (Barnard 1968). Barnard has identified superiority...

Words: 2481 - Pages: 10

Premium Essay

Entrepreneurs Are Made Not Born

...Entrepreneurs are made not born /essay/ This is a very old question with a lot of pros and cons, with a lot of defenders and opponents. Are your inner qualities everything that you need in life in order to success? I think that it is not enough. Being honest I believe that qualities like creativity, passion and ingenuity, one of the most important entrepreneurial characteristics, are partly inborn but without developing your inhesions every single day you would not be a successful entrepreneur. It reminds me of Jeff Bezos graduation speech at Princeton University -“Would you be proud of your gifts”. The idea is that you need to improve yourself since you are child. In addition I would like to say that I have never seen baby entrepreneur, so probably your inborn qualities are not enough. To believe that everything you need in life is born qualities is wrong. If you are satisfied with your inborn qualities and believe in this theory you won’t do anything in order to improve yourself and that would be detrimental. Are entrepreneurs just a special bread or they become this way through education? It is a myth that someone is a born entrepreneur. Entrepreneurs can be thought and more important-they should be. How important is a diploma for your future entrepreneurial success? I think a lot. An education in a prestigious college or university is necessary to gain you skills and knowledge that would be very necessary in your future business life. I believe that basic knowledge......

Words: 2294 - Pages: 10

Premium Essay

Entrepreneurs Are Born or Made

... Review of Financial Intelligence for Entrepreneurs: What You Really Need to Know about the Numbers by Karen Berman and Joe Knight, with John Case. H. L. Vacher University of South Florida, Recommended Citation Vacher, H. L. (2014) "Review of Financial Intelligence for Entrepreneurs: What You Really Need to Know about the Numbers by Karen Berman and Joe Knight, with John Case.," Numeracy: Vol. 7: Iss. 1, Article 8. DOI: Available at: Authors retain copyright of their material under a Creative Commons Non-Commercial Attribution 4.0 License. Review of Financial Intelligence for Entrepreneurs: What You Really Need to Know about the Numbers by Karen Berman and Joe Knight, with John Case. Abstract Berman, Karen and Knight, Joe, with John Case. Financial Intelligence for Entrepreneurs: What You Really Need to Know about the Numbers, (Boston MA: Harvard Business Press, 2008). 285 pp. ISBN 978-1-4221-1915-0. From “The art of finance (and why it matters)” (Part One) through “Creating a financially intelligent company” (Part Eight), Financial Intelligence for Entrepreneurs is an engaging explanation and appreciation of financial statements and financial ratios. Short, easily digested chapters; just-in-time boxes to introduce terminology; easy, direct, in-text calculations from bare-bones, hypothetical financial statements to illustrate concepts; a 44-page......

Words: 4002 - Pages: 17

Premium Essay

Are Leaders Born or Made?

...leadership training and development courses, as leaders are born, not made.' Analyse this claim with reference to different theories of leadership. Introduction What is a leader? It is impossible to obtain a single definition. But it happened when achieving an objective and when more than one people are needed to do it. Nowadays, there are many leadership training and development courses that train people to be the position of leaders. Companies send their staff to these courses in order to increase the organizational effectiveness. However, some people argue that these courses are useless. It is because they believed that leaders are born, but not made. This essay will analyse this claim by using different leadership theories as well as discussing the impact on leadership development courses, in order to identify whether leaders are born or are made. Leaders are born There are many successful leaders who demonstrated their skills at an early age. They have natural talents that make them to be 'natural leaders'. Sometimes they also obtained characteristics or elements of a leader when they are born. Trait Theory is one of the main leadership theories and it suggested that certain characteristics are particularly suit to become a leader. Leaders are made Furthermore, there are also many leadership theories that support leaders can be made. According to the Behavioural Theory, leaders can be made rather than are born. The theory focused on what leaders actually do instead of......

Words: 677 - Pages: 3

Premium Essay

Born or Made

...inspiring, and charismatic this in turns inspire subordinates to engage and perform their duties in achieving their goal. Secondly leadership is a process of social influence which motives others in getting the best out of them towards the accomplishment of a task. Throughout the world there are a lot perception, interpretation and definitions that can be formulated from the word “leadership”. And to most extent what a leader is. What is understood, is to be a remarkable leader one must possess some of these skills such as being ambitious, having a positive attitude in terms of holding their own emotions in check especially in tough situations. They must be able to step down to be in touch with their people. Setting the right example by the way they act whiles focusing on the bigger picture. They usually are well-organized they establish a clear vision and provide information knowledge and methods in realizing that vision, they are also capable or coordinating and balancing conflicting interest of all members of a group, organization or institution. Unlike management leadership cannot be taught, some may argue that leadership can be learned through proper mentoring and coaching where others may say that leadership is a rare skill that not any one individual can obtain unless they are born with it. Can we put this old argument to rest and finalize a conclusion. Are great leaders born whiles others are made? Are Great leaders born? Whiles......

Words: 875 - Pages: 4

Premium Essay

There Is a Lot of Debate Within the Academic Literature About the Personality Traits and Characteristics That Are Associated with Successful Entrepreneurs. with Reference to Appropriate Academic Sources Compare and

...In this essay I will be describing the personality traits and characteristics that are associated with entrepreneurs who are successful. I will also be expanding and comparing on my own personality and characteristics to those found in successful entrepreneurs. Firstly, there are many types of traits that entrepreneurs have. Some of these traits include being able to live with uncertainty and take risks, self-confidence, internal locus of control and more. I will be finding out if successful entrepreneurship is based upon the personalities of individuals or not. Previously, I was never really into entrepreneurship until I started college a few years ago. Having done a fashion design course with sewing and marketing experience, this really made me think about starting my own fashion business in the near future. I had the privilege of gaining further experience and knowledge about the fashion industry through work experience with designers and working at London Fashion Week. This enabled me to talk to designers and have an insight on how they became successful as it is a hard market to have a breakthrough in. Having seen how other designers started out, even with minimal experience and no further education made me more determined to make my dream a reality considering I had experience and now in further education to obtain a degree. On the other hand, there is no success manual in becoming an entrepreneur, therefore I believe it depends on character and personality......

Words: 1473 - Pages: 6

Free Essay

To What Extent Has Popular Music Culture Challenged Dominant Gender Norms? Critically Analyse with Reference to Relevant Literature and Examples

...To what extent has popular music culture challenged dominant gender norms? Critically analyse with reference to relevant literature and examples Traditional dominant gender norms state that women are feminine in appearance, including everything from their hair down to their shoes and of course their demeanour, voice and behaviour. The traditional man would be that who is strong and rugged with a deep voice and who is overtly masculine without a hint of make up or traditionally feminine clothing. It has been decades since these norms have begun to alter and be challenged as both sexes began experimenting with gender and identity through the medium of music. By looking at different music genres throughout the ages I will attempt to show how popular music has broken down social barriers and in my opinion has succeeded in challenging gender norms to a point where the perceptions of what is socially acceptable have been altered. Before delving into the world of rock and roll it is noteworthy that the music industry was like any other business, a typically male environment in which women were not expected to survive. The music industry and specifically the Rock genre were sexually focused from the very early stages, as far back as the 40’s and 50’s. Rock music posed a question of morality and was perceived as shocking and dangerous because of its explicit sexual overtones. An example of these first steps in the scene would be Elvis whose gold, tight outfits and pelvic thrusts...

Words: 2161 - Pages: 9

Free Essay

A Literature Survey on Entrepreneurs and Entrepreneurship

...BUSINESS SUCCESS REPORT—FOR ENTREPRENEUR Name Date of Birth Time of Birth Place of Birth XYZ mm/dd/yyyy 12:00:00 AM City, Country Preamble: As per your input, you have a business of producing Sewing thread tubes/cones which you market under your brand name, which was incorporated on 7/16/2008. At present you buy dyed yarn from the market and simple package them as tubes/cones for your customers. Like all Gujrati entrepreneurs, Mr. Dhirubhai Ambani is the role model and you have a dream to set up your own polyester manufacturing mill. In the process, you also dream that one day, you will have a net worth of 100 cores of rupees. In this report, we will first analyze whether you have the potential to realize this dream in your life astrologically as per your natal chart. We will also analyze the astrological signatures for next 5 years w.r.t your natal chart and transit of each planet through your natal chart, to capture the potential ups and downs in your business during next 5 years. A) Basic Astrological Parameters: Your Birth Chart: The important parameters in your birth chart: Your Ascendant: Aquarius Your Sun-Sign: Libra Your Moon-Sign: Gemini Exalted Planet: Rahu & Ketu Debilitated Planet: Sun Retrograde Planet: Saturn Natal status of each of the planets in your chart: We have listed above the natal promise of all the 9 Vedic planets in the chart based on their status in the chart. There are likely to be lot of contradictions about their significance in different......

Words: 8422 - Pages: 34