Approaches to explain Entrepreneurship Essay Example | Topics and Well Written Essays - 2000 words

Approaches to explain Entrepreneurship - Essay ExampleThere are several approaches using which one can learn the mortalality of an entrepreneur. In this paper, we will discuss whatever key approaches, which can help us explain an entrepreneur. 2. Environmental Background of An Entrepreneur Environmental setting of an entrepreneur is very important to consider when assessing different approaches to explain entrepreneurship. Environmental background includes several elements, which simulated military operation critical roles in the development of an entrepreneur. Some of those elements include family, education, role model, consume, and government support. Let us analyze these elements in many detail. 2.1 Family Family plays a vital role in the development of an entrepreneur. Professions and businesses of the family members of a person perk up a lot of influence on his/her professional mindset. According to bruin and Dupuis (2003, p. 93), family business has a rich associati on with the concept of entrepreneurship. In some families, if the father of a person is involved in the business of construction, son will also try to trample into that business by opening a impregnable or an independent construction company. Similarly, businesses of relatives also influence the mindset of an entrepreneur. 2.2 Education Education also plays a critical role in shaping professional approach of a person. Education makes a person aware of the legalities of different businesses, which help him/her become an entrepreneur at some stage of life. Education non only creates awareness among the entrepreneurs but also ensures economic development. Bruin and Dupuis (2003, p. 178) state, Raising overall education and learning levels of indigenous peoples is undoubtedly crucial to indigenous economic development. 2.3 Role Model A nonher element, which plays a role in shaping the mindset of an entrepreneur, is role model. As discussed earlier, a person is resemblingly to step into the business of his/her ancestors. The reason is that success of parents or other relatives in any specific business positively influences the professional thoughts of an entrepreneur, which results in making that person an entrepreneur at some stage of life. Similarly, some lucky businesspersons also become the role models for some people and they try to test their luck in the businesses of those people. 2.4 intimacy Professional work experience is also an important element in the life of an entrepreneur. According to Bruin and Dupuis (2003, p. 69), entrepreneurs having little or no prior experience are slight likely to succeed in their ambitions. A person is likely to start his/her own business after getting some experience in the related field. For example, a person doing job in a fresh food submit or in a construction company may open his/her own company at some point in life after getting some practical experience and knowledge of all issues related to the business. 3 . Entrepreneurs are Born or Made According to Shefsky (1994, p. 2), entrepreneurs are made, they are not born. Various factors play their roles in shaping an entrepreneur. Every entrepreneur is a normal person like every other person. The difference is just of their approaches to professional life. A normal person is generally less enthusiastic and innovative. He/she does not think of starting an independent business. On the other hand, an entrepreneur has some determination to do something new in life. Various