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What is Entrepreneurship?
In discussing entrepreneurship and writing articles on the subject, I have found that it aids understanding when we begin by agreeing on exactly what the word means to us. Entrepreneurship is the process of creating or seizing an opportunity, and pursuing it regardless of the resources currently controlled. The American Heritage Dictionary defines an entrepreneur to be "a person who organizes, operates, and assumes the risk for business ventures." These are rather abstract concepts for a person just beginning to consider whether they ought to start a business rather than take a job, or leave a secure job for a chance at greater self-fulfillment. Let us try to refine our understanding of entrepreneurship by asking some more specific questions. Is everyone who runs a business an entrepreneur? Many would not consider the newspaper carrier, shoeshine person, and grass cutter entrepreneurs, though these are often the youthful pursuits of those with an entrepreneurial bent. Does it matter whether the business is merely part-time? Whereas some part-time activities are basically hobbies, or undertaken to supplement income, some entrepreneurial ventures can be tested in the marketplace on a part-time basis. The path to an entrepreneurial venture might begin by earning a salary in the business one expects to enter, while learning more about it, and waiting for the opportune time to go out on one's own. This time can be used to develop a support network, professional and personal, and generating ideas to "bounce off" people whose opinion one respects. At what scope does self-employment become a venture? The primary objective of many self-employed people is merely to employ themselves (and others if necessary) at a moderate to good salary; some are even willing to eke out a living to do what they enjoy. This approach is often referred to as a "lifestyle" business, and is generally accompanied by little, if any, plan for growth. These questions are intended, not to develop a precise definition of entrepreneurship, but to help us understand our attitude toward its many forms of expression. We may each answer these questions differently, yet all answer appropriately within our own frame of reference. Entrepreneurship is more an attitude than a skill or a profession. Some of us may prefer a corporate or public service career path, but many would choose an entrepreneurial opportunity that "feels right." Would you consider a person who inherits a business an entrepreneur? From the point of inheritance on, it is their own money and financial security at risk. They could possibly sell the business, invest the proceeds in blue-chip stocks, and live off dividends. Some might consider managing a personal stock portfolio for a living as an entrepreneurial venture. Would a person who inherited a small or marginal business, then took it to new dimensions be considered an entrepreneur? The inheritor could have tried merely to keep it going, or even to pace the business' decline to just carry them to retirement. In a family-held business, long-term success is often a central goal. Are franchise owners entrepreneurs? Many feel that, for those who have access to the large up-front investment, franchises are sure things. For many, operating a franchise is similar to investing in "blue chips," a relatively sure thing with generally unexciting returns. John B. Vinturella, Ph.D. has almost 40 years experience as a management and strategic consultant, entrepreneur, author, and college professor. For 20 of those years, Dr. Vinturella was owner/president of a distribution company that he founded. He is a principal in business opportunity sites jbv.com and muddledconcept.com, and maintains business and political blogs.
Latest News:Site: Yahoo! News Search Results for news Myanmar's Suu Kyi to get family letters, news mags (Reuters via Yahoo! News) Detained Myanmar opposition leader Aung San Suu Kyi has managed to wring small concessions from the ruling generals in the form of letters from her family and some international news magazines, her lawyer said on Friday. JCDecaux in talks for News Outdoor Group in Russia (AP via Yahoo! News) French outdoor advertising firm JCDecaux SA said Thursday it is negotiating to buy Russian rival News Outdoor Group from global media company News Corp. News Corp tightens grip on Premiere with new CEO (Reuters via Yahoo! News) Rupert Murdoch tightened his grip on German pay-TV broadcaster Premiere by appointing News Corp executive Mark Williams as CEO in a move to get the company back on track. SEC Looks Into UAL Stock Scare; Implications For Online News? (CBS News) A ton of digits have been devoted to this in other spots but the SEC's decision to investigate takes it to another level. The backstory: a six-year-old news story about UAL declaring bankruptcy made it into the Tribune-owned Sun-Sentinel 's current news flow, was picked up by a Google (NSDQ: GOOG) News bot and, via a reporter for a newsletter, made it onto Bloomberg News. After a lot of buck ... JCDecaux and News Corp. in talks to combine outdoor ad groups (International Herald Tribune) The News Corp. chief executive, Rupert Murdoch, has recently expressed nervousness about investments in Russia, where News Outdoor generated the bulk of its revenue last year. SEC Looks Into UAL Stock Scare; Implications For Online News? (paidContent.org via Yahoo! Finance) A ton of digits have been devoted to this in other spots but the SEC's decision to investigate takes it to another level. The backstory: a six-year-old news story about UAL declaring bankruptcy made it into the Tribune-owned Sun-Sentinel's current news flow, was picked up by a Google News bot and, via a reporter for a newsletter, made it onto Bloomberg News. JCDecaux in talks to buy News Corp. billboard unit (AP via Yahoo! Finance) In a deal that would create the world's largest outdoor advertising company, French conglomerate JCDecaux SA said Thursday that it is in talks to buy Russian rival News Outdoor Group from global media company News Corp. Phila. mayor to announce grim budget news (The Philadelphia Inquirer) The Nutter administration is expected to announce grim budget news today, which is all but certain to lead to significant spending cuts - perhaps as high as 10 percent - in some city departments, according to three sources familiar with the budget. News Corp says Mark Williams interim Premiere CEO (Reuters via Yahoo! News) News Corp. executive Mark Williams has taken over as chief executive of German pay-TV broadcaster Premiere in an interim capacity, News Corp. said after the move led to renewed takeover speculation. News Corp. says Mark Williams interim Premiere CEO (Reuters via Yahoo! News) Mark Williams, a News Corp. executive named late on Wednesday as chief executive of German pay-TV broadcaster Premiere, has taken over in an interim capacity, a News Corp. spokeswoman said on Thursday. Site: news - Google News Phil Schiller bringing the news at Macworld - San Francisco Chronicle
MORE RESOURCES: Site: Yahoo! News Search Results for entrepreneurialism Lone Star Library: Green Mountain founder shares entrepreneurial insights (Fort Worth Business Press) Rural Southerner Sam Wyly came by his self-made captain-of-industry status the hard way, developing a passion for business strategy by playing schoolboy football and observing his parents? natural gift for small-business operations and hard-bargain bartering. S.C.'s brightest complete Business Week (Columbia Star) Approximately 200 high school students from across S.C. have successfully graduated from South Carolina Business Week, presented by the South Carolina Cable Television Association, July 13- 18, at Presbyterian College in Clinton. Wellington West opens Montreal branch (CNW Group via Yahoo! Finance) Wellington West Holdings Inc., a privately held, employee-owned financial services firm, today announced the expansion of its national network with the opening of a Wellington West Capital Inc. full-service retail investment branch in Montreal, Quebec. Ctek Selects Kyocera 300 Module for Z4100 Wireless Router (Centre Daily Times) Kyocera Wireless Corp. (KWC), a leading global manufacturer of wireless handsets, devices and embedded machine-to-machine (M2M) modules, and Ctek, a leading manufacturer of specialized communications solutions for industrial and commercial applications, today announced the selection of the Kyocera 300 Module for Ctek's cost-effective Z4100 Router. The Kyocera 300 Module enables reliable, ... Memphis confident of growth campaign (Memphis Commercial Appeal) One year after the launch of a $64 million economic development campaign, city officials are increasingly optimistic about the impact of MemphisED on the Bluff City. Summer break project: JTCC student lives, learns nonprofit leadership with Pheonix Project (The Petersburg Progress-Index) CHESTER ? Jamie Poniatowski, a Class of 2008 human services major, spent her summer break in Petersburg, participating in the Phoenix Project?s 2008 Nonprofit Leadership and Social Entrepreneurship Program, which transforms committed undergraduate and graduate students into effective social entrepreneurs with the knowledge, skills and connections to succeed in Virginia?s nonprofit sector. Ctek Selects Kyocera 300 Module for Z4100 Wireless Router (Business Wire via Yahoo! Finance) SAN DIEGO & RANCHO PALOS VERDES, Calif.----Kyocera Wireless Corp. , a leading global manufacturer of wireless handsets, devices and embedded machine-to-machine modules, and Ctek, a leading manufacturer of specialized communications solutions for industrial and commercial applications, today announced the selection of the Kyocera 300 Module for Ctek?s cost-effective Z4100 Router. $1 Million Opus Prize Finalists Announced (PR Newswire via Yahoo! Finance) Seattle University and the Opus Prize Foundation today announced three finalists for the $1 million 2008 Opus Prize, one of the world's largest humanitarian service awards. Guided by faith and an entrepreneurial spirit, Marguerite "Maggy" Barankitse, Krishnammal Jagannathan and Michael Woodard are working throughout the world to give people the tools to transform their lives. Scotiabank Online Small Business Contest Last Call (CNW Group via Yahoo! Finance) The chance for Canadian small business owners to win $50,000 in cash prizes is coming to a close. As part of Scotiabank's 'Get Growing to a Million' Campaign, the online challenge has offered small business owners across Canada a chance to win one grand prize of $20,000 and six regional prizes of $5,000. In cinemas this weekend (Guardian Unlimited) RocknRolla | The Duchess | Bangkok Dangerous | Disaster Movie | Sweete Land | El Cantante | Never Apologise | Mera Pind My Home Site: entrepreneurialism - Google News Ohio House Speaker Budish touts regionalism in his first address - WKYC-TV
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