Entrepreneurial Business Skills

THE CHARACTERISTICS
OF AN ENTREPRENEUR
DIFFER FROM THE
CHARACTERISTICS OF A
NON-ENTREPRENEUR’
 Contents
Entrepreneurial Business Skills...............................................................................................................................0

‘the characteristics of an entrepreneur influence the performance of a business venture’.....................................1

Abstract...................................................................................................................................................................1

Keywords:...............................................................................................................................................................2

Introductions............................................................................................................................................................2

Literature review.....................................................................................................................................................2

Entrepreneurs and business.....................................................................................................................................5

powerful traits that separate successful millionaires like Jeff Bezos and Mark Zuckerberg from everyone else...5

Entrepreneurship assets and the success of corporate companies...........................................................................7

Issues relevant to the study of company and business characteristics....................................................................8

Conclusion...............................................................................................................................................................8

References...............................................................................................................................................................9
 ‘the characteristics of an entrepreneur influence the
performance of a business venture’

Abstract
Entrepreneurship means the willingness and readiness to work together with some reservations on profits
and to create, organise and operate an enterprise. The launch of new ventures is the most obvious example of
entrepreneurship. The business vision, distinguished by discovery and risk-taking, is currently essential to a
nation's ability to succeed in a highly competitive global climate.

"Business is our economy's backbone and our nation's prosperity mandate. It is at the very centre of our
lives." (Carland Jr. and Carland 2019: 33) Business is everywhere about us. It can be seen in every third-world
country in the smallest family shops and can be seen in every foreign organisation. Our whole economy is built
on business. Entrepreneurship has already generated great interest among university students for decades,
although the amount of literature and entrepreneurial studies can be very overwhelming. The appetite in
entrepreneurship has, however, been boosted to a different degree in recent years. Like Dragon's Den and Shark
Pool, any average person has taken entrepreneuriality into the living room. The Red Carpets star influential
entrepreneurs like Steve Jobs, Bill Gates and Mark Zuckerberg and are recognisable to everyone in every
corner of the world.

Entrepreneurship is the best starting place for a new small company. Enterprises tend to give them new
ideas on the market by mixing current with new ideas as a conduit of fresh ideas or innovatives. It may be split
into domestic or small multinational companies. In industry, the business profit involves property, natural
resources, money and labour. In short, someone who tries to start a new business and is able to take on the
challenges it entails becomes a contractor. There are not many entrepreneurs, but entrepreneurship is definite
and successful. A substantial risk of failure is expected for the implementation of any new project. The
contractor must also be brave and able to consider and accept risks that can play an important part of becoming
an entrepreneur.
 Keywords:
entrepreneurship, entrepreneur, entrepreneurial personality, business performance

Introductions
The purpose of this analysis is to analyse a contractor's personality characteristics and impact on the
company results. The research further attempts to explain how an entrepreneur distinguishes from non-
personality entrepreneur's characteristics. The paper consisted of a summary of literature that developed the
principle of the analysis. A broad variety of scholarly outlets, based on entrepreneurial operations, contractors
and industry figures, have gathered the theoretical context. The analysis was concluded on two assumptions: (1)
The businessperson's traits vary from those of a non-businessperson. And (2) the entrepreneur's characteristics
impact the efficiency of a business. Bothing from the literature review results as well as many prior studies
related to the topic, the two hypotheses were evaluated. The findings of these experiments together with the
hypothesis set in the literature review suggested that both theories were true. The research paper therefore
concluded primarily that the success of a new company is influenced by the entrepreneur's personality
characteristics.”As the publishing of Frank Knight's book Risk, Confusion and Benefit in 2020 has been
illustrated in several studies, and a crucial start to thorough and cautious study on the personalities of business
people who differentiate themselves from the general business people. As Åstebro et al. (2020)

Literature review

Entrepreneurship is the skill and preparation to develop, organise and run an organisation together with
some of its reservations about profit-making. The most apparent example of entrepreneurship is the launch of
new businesses. The entrepreneurial vision is marked by discovery and risk-taking and is currently central to a
nation's potential to compete in a foreign environment that is highly competitive.
The perfect starting point for a modern small business would be entrepreneurship. Entrepreneurs prefer to be
pointed to as a source of fresh ideas or innovators to offer new ideas on the market by combining existing ones
with new ones. It may be divided into international corporations at home or small enterprises.
Many texts, creativity, primarily focus on large corporations like Apple. However, Walter is keen to find out
that innovation still occurs in smaller enterprises.” (a moniker introduced by Uusitalo, 2019). "The Internet
MBA equips the entrepreneurs of tomorrow together with crucial mindset, the essential experience and
competencies of activity it requires to successfully cause a change in a universe of ever-increasing speed," says
Fredrik. Walter accepts that "The values and mentality required to direct an innovative expansion and renewal-
oriented firm,", recent work shows the remarkable degree to which these subpopulations behave differently
(e.g., Hurst and Pugsley, 2019, Levine and Rubenstein, 2018),
 Explore the character of the company and creativity in our hard online programme will allow you to
achieve a new degree of impact in your work. In economics, the benefit generated by an entrepreneur
incorporates land, natural resources, capital and labour. In short, someone who wishes to start a new company
and is willing to deal with the risks that go with it will become a contractor. Not many entrepreneurs are strong,
but entrepreneurship is definite and efficient. Any of the following are mentioned:(e.g., Brockhaus and
Horwitz, 2019; Gartner, 2020).

supporting or hindering the continued growth of the company entrepreneurship and innovation:
* Training - The system of education plays a major role in inspiring entrepreneurial merit in all respects.
* Social importance – Entrepreneurship development requires sufficient motivations such as acquisition, stature
acquisition and performance in society. Ambitious and ambitious men take chances and invent if they are solid.
The intensity of these motivations depends on this society's history. Whether society is effectively or
monetarily geared, industry may be applauded and praised; the accumulation of resources for a means of living
is admired.People are not economically driven in developing countries. Comparatively less appealing are cash
rewards. People have enough opportunity to gain social distinction through non-economic efforts.
Consequently, men with management experience are not introduced into the business.as well as by
analyzing the correlation of these characteristics with entrepreneurial performance factors such as
business survival and growth (e.g., Baron, 2019). For the non-economic end they use their expertise.
* Motivation - Cole claims that businessmen want prestige, strength, protection and service besides prosperity.
In specific, Stepanek points to non-monetary factors such as independence, the self-confidence, strength and
esteem of individuals.
* Changes - Everett Hagen is the one who is thinking with social transition psychological effects.

Hagen notes a radical reduction to the status of certain social classes at any point in age.
While many doubted if creativity and entrepreneurship are possible and learned skills, our teachers hope so.
"The fantastic thing is that 60 percentage created', meaning we could train these abilities." "Professional
innovation direction could be educated; it is a set of procedures and good practises such as financial or
production direction"While Frese (2009) highlights how entrepreneurial action extends to efforts beyond
for-profit firm creation (e.g., social activism) However, he also believes that there are individuals who are most
likely directly to become entrepreneurs. An contractor can be a brilliant innovator but not always a fantastic
entrepreneur is an innovation boss.”The probability of a risk- The launch of any new project requires a
significant amount of risk of failure. Therefore, a contractor must be courageous and willing to assess and
assume risks that can play a crucial role in being an entrepreneur.We aimed spend low time on the achievments
of overconfidence, optimism, and risk taking given the detailed recent review of Åstebro et al. (2014) on these
issues:
Innovation- The creation of new technologies, starts an organisation, which benefits from them can be
extremely creative. Shift may be the beginning of a new brand commodity that is new for the market or a
process that is essentially the same but in a more productive and economic manner.(Stewart and Roth, 2007)
Visionary and leadership – The founder wants a very strong picture of his new business to be effective.
Open-minded—Each scenario can be an opportunity and a work for an organisation in a corporation. In a
situation like this, Paytm understood the gravity and the desire for Internet transactions, thus took advantage of
the circumstances and widened them.
Adaptive – A contractor should be responsive and versatile to adapt in compliance with the circumstances. In
order to be the best, a businessman should be prepared to alter a solution and offer assistance, if possible.

You should know that your company operator would become aware of the goods sold and know the new
mode on the market. It is necessary to consider whether the open good or service fits the existing consumer
expectations or whether it is the correct time for it to be modified a little. In a meta-analysis of 41 studies,
Collins et al. (2004) . A very critical part of entrepreneurship is being able to be responsible and then adapt if
required. Entrepreneurial creativity is really important. Revolutionary thoughts are what differentiate you from
the rest of the intensely dynamic society in which we live. Your target is not just to develop a medium start-up,
right? You want to evolve in order to provide a powerful and excellent approach and to develop the consumer
grou .and enthusiastic (Costa and McCrae, 1992).

Innovation does not always mean something brand new: innovators also take, update, change and improve
something that already exists, and make it the right thing for their consumers. Complex theories are what will
violent a start-up. The success of the day doesn't occur: it takes time and commitment.
When we explore entrepreneorship, invention and creativity go hand in hand. Seven excellent means of
analysing the technology are available here, in order to appreciate its importance in entrepreneurship, training,
ideas and much more.Antoncic et al. (2015)
* Creativity and education - As we live in an invention age, sensitive preparation should prepare a person for a
role that is not yet present and still unambiguous.
* Sensibilisation, creativity and knowledge - Information acquired from new ties encourages innovation;
perspectives gained by journeys to other areas; busy collegial Networks;

And the flexible borders are open. Ongoing exchanges in which knowledge is not only accumulated or
preserved, but generated are creativity. Innovation. Cash and creativity – Innovation has nothing to do with how
much R&D bucks you've got. Expertise comes from partnerships that weren't here. IBM invested 100 times
more time in R&D as Apple created the Mac. It's not capital. It's all about the people you've got, who you're led
and how many you get.analyses like Zhao and Seibert (2018) and Zhao et al. (2020)
* Proposals and creativity – Innovation is the crucial spark behind all human developments, improvements and
development as energy forms the foundation of life itself and concepts a source of innovation
* The application of thought and innovation — Design is a mechanism that turns concepts into a productive and
marketable form.
* Persistence, determination and invention – Creativity would not initially be embraced by definition. It calls
for repetitive attempts, constant lectures, boring experiments before the invention within an enterprise can be
picked up and internalised. This needs "brave patience.
* Learning and invention: learning and creativity go together. Good arrogance results of believing that
everything that you did yesterday will be enough for tomorrow.

Entrepreneurs and business

powerful traits that separate successful millionaires like

Jeff Bezos and Mark Zuckerberg from everyone else
You're not confused about loss
The way you planned them would not always work out stuff. Many startups collapse — 90%, study
shows. Perhaps many of your proposals won't work. You might be abandoned by citizens. Yet successful
people are not allowed to get in the way of anything like that. Rather, you benefit from your mistakes. Mark
Elliot Zuckerberg is an American media magnate, Internet founder, and philanthropist (bornMay 14, 1984).
Mark Zukerberg is an American media magistrate. He is known for co-founding Facebook, Inc. and serves as
its President, CEO and shareholder controller..In 1994, when Bezos introduced Amazon, it gave itself just a
30% chance of success. He told Time magazine in 2019, when they crowned him as Person of the Year. "These
are also a rather liberating hope, planning to fail.(e.g. Kanfer,
1992; Rauch, 2020).
In 1994, when Bezos introduced Amazon, it gave itself just a 30% chance of success. He told Time magazine in
2019, when they crowned him as Person of the Year. "These are also a rather liberating hope, planning to
fail.Luszczynska et al., 2019), In reality, from the Fire Mobile to Amazon Wallet, the Amazon founder had a
decent amount of mistakes, but he still took the opportunity in search of the success. He said at Business
Insider's Ignition Conference 2020 on stage "If you are to make bold bets, they are to be experiments. "You do
not know in advance if they are going to work whether they're tests. By their own existence, tests are bound to
fail. However, a few fantastic achievements made up for tens and thousands of items that didn't work."(Lent
and Hackett, 2020).
Shooting for the moon
The co-founder of Tesla, Elon Musk, practically took it when he said that his goal was to introduce
visitors to the moon. One of the best qualities for Musk is often to set the most ambitious targets, from the
construction of underground tunnels, over the noise of traffic to link the brain to computers.
Extremely optimistic targets will take a lot from you to set them (and try to accomplish them). However,
several experiments have shown that you will be more happy in the long term. In one experiment, two classes
of participants were observed: one that set sky-high expectations and one that set conservative aims.
Once their aims have been accomplished, the first party recorded feeling more satisfied. Why? In comparison to
other optimistic targets, if you set conservative goals, you are far less pleased with achieving them.Chen et al.
(1918) Oprah Winfrey is also a master of corporate business. She began as a TV reporter and grew her empire
of media with videos, podcasts, and web pages. "The Oprah Winfrey Show" claims to be America's top ranked
daily talk show. She was already at 32 years of age millionaire. They are driven by personal experience In 2019
a 10-page memo was leaked by a Google software developer against the diversity efforts of the technology
giant. The text was viral and prompted Google CEO Sundar Pichai to respond quickly.Kickul and Gundry
(2002)

However, Susan Wojcicki, CEO of YouTube, gave the most brave and audacious response. Rather than
talking about her own experience and addressing suffering and empathy to those who had read memo in a
corporate, sterile manner – as is anticipated because Google owns YouTube.
"I've doubted my skills and loyalty to my career. I was left out of main activities and social meetings in the
sector. I have spoken with external leaders of whom mostly the younger male friends have talked," she wrote
for Fortune in an article.(Parker,2009) The response from Wojcicki centred on ways to inspire young women
of the next generation. Her outlook not only showed her future vision but won many's hearts. When to lead an
analytical approach and lead with empathy and humanity, the most powerful leaders realise.
You know that at unlikely moments the best innovations arrive
Brain tests and internal perception (i.e. daydreaming, imagination) found that our 'aha' experiences always
arise at most unforeseen periods. 'Knowledge comes in,' says Claudia Kalb, a best-selling author and writer who
writes on human actions. "But it goes unintentionally and the subsequent solution springs out if the mind
doesn't anticipate it.

In a Reddit-AMA chat, Musk said that as he was taking a shower, he thought up the genius ideas. CEOs and
administrators of some of the world's most influential businesses — like LinkedIn, Facebook and Google— are
having football meetings (e.g. standing, walking) as they think this is where people are the most concentrated,
innovative and profitable. At times most spontaneously, our 'aha' moments also occur.(Chen et al., 2019).
You think beyond the box and the status quo
Katrina Lake, CEO of Stitche Repair, recently told CNBC to build in-app algorithms using artificial
intelligence (A.I.) to improve the business' profit. The algorithms increased the net profits per customer of
Stitch Repair by six percent over the year. There is no status quo or a way to proceed, when you are at the top
of the mountain; you are the one who is blazing the road. It's a distinctive leadership at the stage C, so you don't
have to go up the ladder for years to achieve the same foresight. (Utsch and Rauch, 2020).Instead, you can now
draw on five, ten, or even twenty unconventional alternatives to the present market problems.
 Entrepreneurship assets and the success of corporate
companies
Zhang and Bruning (2018) say that small business success depends heavily on its owner's human
resources. (Zhang and Bruning 2018: 82) The success of an entrepreneur is often requested by a complexity of
psychological qualities. Empirical proofs indicate that the personal characteristics of an entrepreneur
specifically affect the success of the company. (Fine et al. 2019: 280) Entrepreneurship has been an important
factor of the sense of corporate success and a rising number of research have been conducted on
entrepreneurship in recent years. (Zhang & Bruning 2019: 82-86) Previous research reveals that the need for
success and entrepreneurship have a good association.

In addition, the study suggests that businesses that have a greater need for success are more likely to
thrive. The optimistic relation between the management desire for good results and successful business
performance exists unequivocally. Previous analysis also indicates that the control locus and results of the
company are positive. Literature also shows explicitly a positive connection between the domestic control locus
and business conduct. More evidence on the topic remains therefore required. Likewise, Littunen (2020) argues
that success as a contractor can be explained by the incentive for success and the locus of influence. (Zhang and
Bruning2020: 82-87) Positive external supervision fits with and encourages personal accountability that raises
standards of success. Negative external control inhibits and controls personal control, which lowers
expectations of success.

Issues relevant to the study of company and business

characteristics
Performance It may be extremely troublesome to connect a person's personal characteristics to the
company's progress. The success of an organisation is the product of several different influences, one of which
is its personal characteristics. (Burns 2018: 20) Scholars have been researching for a long time what criteria can
improve entrepreneurship. Nevertheless, there is also no comprehensive theory of progress. (Bruning and
Zhang 2019: 94) In addition, recent study was unable to discriminate between effective entrepreneurs and those
in terms of psychological aspects. Similarly, Carsrud argues that the identities of an entrepreneur are not
explicitly related to success. (Ahmad 2020: 203) They compared the economic success of entrepreneurs in an
analysis by Perry, Meredith and Cunnington, which used multiple regression analyses.

They indicated that data on personality traits have been washed out and hope to be done because of low
levels. The study showed, however, that different situation factors have a significant impact on a business
development. The research shows a risk of the achievement of businesses not being 'the right thing' but 'in the
right place at the right time.' The study shows. Various features are also related to the performance of a brand,
However, a causative association between the characteristics and the market performance is necessary to be
able to illustrate. The researchers pointed to this issue by assessing successful entrepreneurs' characteristics and
comparing them to unsuccessful entrepreneurs' characteristics. Some analysts suggest some attributes
differentiate strong businessmen entrepreneurs (Korunka et al., 2003)

Conclusion
In the last decades, entrepreneurship was a closely researched subject when the research paper was first
written. Entrepreneurship is a wide field of research and there is substantial literature on the subject.
Contradictory references can be found and several scholars disagree on this issue. The description of the
business words and the entrepreneur was such a challenge and this Research Paper presented many useful yet
even contradictory concepts. The author intended to use a number of references from various countries and time
periods for the purpose of the research and for the general matter of the article.. The area of the research in this
report was the independent entrepreneur. The author thus permitted the space for a bachelor's thesis to be held
concisely enough. Although the key subject of this paper was the particular entrepreneur and his features,
writers seemed to be largely in agreement on these topics. Notwithstanding a number of differences of opinion,
most of the scholars quoted in this document came to the consensus that an entrepreneur's most significant and
most researched features are the desire for accomplishment, control and risk-taking. These were the features
explored further in the text.

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