Who is an Entrepreneur

Entrepreneur, Small business owner manager, Entrepreneur and Entrepreneurship

There is no clear consensus among entrepreneurship specialists on the definition of the word โ€˜entrepreneurโ€™ or that of its derivative, 'entrepreneurship'. While some people would treat small business owner managers and entrepreneurs as synonymous, the bulk of the entrepreneurship specialists attempt to draw a distinction between them. This distinction is central to an understanding of the meaning of 'entrepreneur'. We proceed to look at the definitions of these terms with a view to delineating the differences among them.

Small business owner manager

A small business owner manager is one that manages a small firm or venture. There is no single agreed upon definition of the small firm. "Small business" is usually defined using a combination of quantitative and qualitative criteria, including: number of employees; total assets; share capital; number of shareholders; market share; composition of management; degree of formalization; etc. Some of the common definitions are as follows:

A small business is a firm with the following features
(1) its share of the market is relatively small
(2) capital is supplied and ownership is held by an individual or a small group; and (3) area of operation is mainly local.
(4) Workers and owners are in one community, but markets need not be local

Economically a small firm has a relatively small share of the market. Managerially, it is administered by its owners or part owners in a personalized way, rather than by means of a formalized management structure. Financially, it is independent in the sense that it does not form part of a larger enterprise and owner managers are free from outside control in taking their principal decisions

An entrepreneur

Some of the definitions of entrepreneur that have been proposed over the years are as follows:

a) One who develops new profitable business opportunities by combining resources in a new way
b) Is an individual who owns and manages a business for the principle purpose of profit and growth. The entrepreneur is characterized principally by innovative behaviour and will employ strategic management practices in the business
c) A contractor acting as intermediary between capital and labour; one who undertakes an enterprise; one who owns and manages a business; a person who takes the risk of profit or loss
d) One can also refer to an entrepreneur as some one who engages in the process of entrepreneurship. This calls for behavioral definition of the term โ€˜entrepreneurshipโ€™.
e) An entrepreneur takes initiative, organizes some socio economic mechanisms, and accepts risks of failure
f) An entrepreneur always searches for change, responds to it and exploits it as an opportunity

Entrepreneurship

Entrepreneurship has two meanings. First, it refers to the field of knowledge derived from the study of entrepreneurs. Secondly, it refers to processes which entrepreneurs undertake, and therefore distinguish them from others. Entrepreneurship as a process has been defined as follows:

a) Entrepreneurial behavior is opportunistic, value driven, value adding, risk accepting, creative activity where ideas take the form of organizational birth, growth, or transformation .
b) Entrepreneurship is the process of creating something different with value by devoting the necessary time and efforts, assuming the accompanying financial, psychic, and social risks, and receiving rewards of monetary and personal satisfaction and independence

Intrapreneur

Intrapreneur is a term drawn from and closely related to the entrepreneur. It refers to an individual who operates in an entrepreneurial way, from within an established organization rather than by founding or building up his or her own firm Some have referred to him as 'administrative entrepreneur'

The intrapreneur need not be a chief executive; it is sufficient for him or her to operate in an entrepreneurial way. Therefore, different kinds of managers with or without shares in the organisations in which they work may be intrapreneurs.

Entrepreneurship vs. Small Business

Many people use the terms โ€œentrepreneurโ€ and โ€œsmall business owner synonymously. While they may have much in common, there are significant differences between the entrepreneurial venture and the small business. Entrepreneurial ventures differ from small businesses in these ways:

1. Amount of wealth creation โ€“ rather than simply generating an income stream that replaces traditional employment, a successful entrepreneurial venture creates substantial wealth, typically in excess of several cash of profit.
2. Speed of wealth creation โ€“ while a successful small business can generate several cash of profit over a lifetime, entrepreneurial wealth creation is often rapid; for example, within 5 years.
3. Risk โ€“ the risk of an entrepreneurial venture must be high; otherwise, with the incentive of sure profits many entrepreneurs would be pursuing the idea and the opportunity no longer would exist.
4. Innovation โ€“ entrepreneurship often involves substantial innovation beyond what a small business might exhibit. This innovation may be competitive advantage that results in wealth creation. The innovation may be in the product or service itself, or in the business processes used to deliver it.

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๐Ÿ“ฐ Recommended Posts๐Ÿ‘‡

๐Ÿ“Œ STORY: Do not ignore everything

A young man was
getting ready to
graduate from
college. For many
months he had
admired a beautiful
sports car in a
dealers showroom,
and knowing his
father could well
afford it, he told him
that was all he
wanted.
As Graduation Day
approached, the
young man awaited
signs that his
father had purchased
the car. Finally, on
the morning of his
graduation, his father
called him into his
private study, told
him how proud he
was to have such a
fine son, and how
much he loved him.
He handed him a
beautifully wrapped
gift box.
Curious, but
somewhat
disappointed, the
young man opened
the box and
found a lovely,
leather-bound Bible,
with his name
embossed
in gold.
Angrily, he raised his
voice to his father
and said,"With all
your money you give
me a Bible?" He
stormed out of the
house, leaving the
Bible behind.
Many years passed
and the young man
was very successful in
business. He had a
beautiful home and
wonderful family, but
realized his father
was very old. He
thought perhaps he
should go to him.He
had not seen him
since that graduation
day.
But before he could
make arrangements,
he received a
telegram telling him
his father had passed
away, and willed all
of his possessions to
him. He needed to
come home
immediately and take
care of things.
When he arrived at
his father's house,
sadness and regret
filled his heart. He
began to search
through his father's
important documents
and saw the Bible,
new,just as he had
left it years ago.
With tears, he
opened the Bible and
began to turn the
pages. His father had
carefully underlined a
verse, Matt 7:11,
"And if ye, being evil,
know
how to give good
gifts to your children,
how much more shall
your Heavenly Father
which is in Heaven,
give to those who ask
Him?"
As he read those
words, a car key
dropped from the
back of the Bible.It
had a tag with the
dealers name, the
same dealer who had
the sports car he had
desired.
On the tag was the
date of his
graduation, and the
words…
PAID IN FULL.
How many times do
we miss God's
blessings because
they are not
packaged as we
expected?

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๐Ÿ“Œ What is agribusiness

(i) supplying of inputs needed for farming and
(ii) Marketing of the products grown from farm.

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๐Ÿ“Œ Be careful

You have been single throughout the year, and two weeks to Christmas you fall in love

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๐Ÿ“Œ Think Critically act Positively


1. ON EARNING:
Never depend on single income. Make investment to
create a second chance.

2. ON SPENDING:
If you buy things you do not need, soon you will have to sell things you need.

3. ON SAVINGS:
Do not save what is left after spending, but spend what is left after saving.

4. ON TAKING RISK:
Never test the depth of a river with both feet.

5. ON INVESTMENT:
Do not put all eggs in one basket.

6. ON EXPECTATIONS:
Honesty is a very expensive gift. Do not expect it from cheap people.

7. Past is a waste paper, present is a newspaper, and future is a question paper. Come out of your past, control the present, and secure the future.

8. When bad things happen in your life, you have three choices. You can either let it define you, let it destroy you or you can let it strengthen you.

9. Our eyes are in the front because it is more
important to look ahead than to look backwards.

10. We use pencil when we were young, but now we use pens. Do you know why? Because mistakes in childhood can easily be erased, unlike now. So read and write carefully, otherwise, life will be a
tissue paper.
__

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๐Ÿ“Œ STORY would you stop to listen?

Here is a lady disembarking from a matatu, she drops something unaware and a shabbily and dirty dressed boy picks it up.

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๐Ÿ“Œ Heart touching story

<HEART TOUCHING STORY>
.
A boy and a girl Loved each other very much.
Unfortunately the Girl Died..
The Boy was So Upset and he couldnโ€™t Stop his
Tears.
.
He kept on Crying Day and Night.. Many People
gave him Sympathy,
but no Argument could Stop His Tears.
.
One Night He Slept and had a Dream;
.
He saw the Girl in Heaven with so many Girls of
Her age.
He felt Relaxed.. But He Noticed that every Girl
was in Fairy Dress;
and had a Lightened Candle in their Hands, but
his GF had a Candle which was not.Lightened..!
.
He asked Her:
โ€œWhy is Your Candle not Lightened?โ€ She Replied:
โ€œWhenever I lighten My Candle;
Your Tears fall on it..!
Please Stop Cryingโ€ฆ
.
PRAYER !! !! !!
.
TODAY I PROPHECIES THAT YOU WILL NEVER
LOOSE ANYONE YOU LOVE ON EARTH
PREMATURELY.
.

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๐Ÿ“Œ Entrepreneurial Characteristics

It is clear that the definitions of the 'entrepreneur' are not similar. However, there are certain qualities and/or functions which explicitly or implicitly, feature in most of them. Each definition contains similar notions, such as newness/value, organizing, creating wealth, and risk taking, despite viewing the entrepreneur from a slightly different perspective. Failing to agree on a single definition, entrepreneurship specialists have resorted to drawing up lists of qualities and/or functions which typify the entrepreneur. Invariably, these lists include a combination of characteristics: People with entrepreneurial qualities and skills tend to enjoy the challenges, the hard work and the success of self-employment.

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๐Ÿ“Œ How to develop ones Enterprising Tendencies?

At some point in an entrepreneurial career a person has to start developing experience and learning actively about what they do best and what they should learn to do better, and the sooner they start learning actively the sooner they start being enterprising.

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๐Ÿ“Œ See how this man reacts!

A man went for HIV test on Saturday and they told him tocome back on Monday to pic his results.On sunday he went to church and the pastor was praying and said "… may the things that you'll receive as from tomorrow be positive …"The man quickly opened his eyes and shouted "Acha ujinga weweeee!!"

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๐Ÿ“Œ STORY Be that kind of woman

Sometime ago, a man went with his wife in their car to a fuel station, while they were buying the fuel, the man discovered that it was the wife's ex boyfriend that is attending to them, He then smiled and turned to his wife and said, "you would have ended up marrying that petrol attendant", but the wife smiled and said, "if I had married him, He will be the one sitting by the steering of the car"

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๐Ÿ“Œ Ways to overcome public anxiety

Erase The Preconceived Notions People typically associate the task of public speaking with stress! This is absolutely untrue! Public speaking is only stressful if you allow it to be! Ironically, if you shake off this incorrect belief, public speaking can be a very enjoyable and invigorating experience for you. Try to dig out the hidden cause for your fear, diagnose it and say hello to a new fun hobby! Knock off the fear of public humiliation! You're overreacting! It's purely psychological. Stage fright can be curbed with a smooth build up of self-confidence. The best way to start that process is by facing reality and accepting that public speaking is not as difficult as you once thought! Capitalize On Three Good Points Stumble upon three relevant points and you're ready to nail it. In other words, you have good potential to set the stage on fire! Maintain a calm and composed demeanor! You don't have to be the funniest or smartest orator on the planet to receive a round of applause. Even if you make a couple of mistakes, skip a few important portions of your speech and pause for a minute, you haven't necessarily failed! Stop focusing so much on your performance, it's the value of the content effused that matters most. As long as audiences have something valuable to take back home (or with a smile on their faces), you will be remembered positively. Bear in mind that heaps of inconsequential facts does not augment your orator status. Stick to two or three clever points and render your speech interesting and genuine. Stress on one key point if you strongly believe in it. Diminish the number of quick notes and let words flow straight from the heart to the tip of your tongue! Avoid silly complexities for you will end up boring the crowd. Prepare But Don't Over-Prepare Preparation is essential. More importantly, prepare well in advance and not overnight for anxiety will double and the outcome will be messy. Practice does indeed make a man perfect but never overdo it. A speech turns superficial when planned too far ahead. It should be natural! In fact, the more effort you put into it, the worse might be your performance. So, don't over-prepare! Relax and take a deep breath! Just rehearse once and revise the key points along with a few good examples. Memorizing a speech verbatim only ruins the authenticity of a speech and implies that you don't have a firm grasp over the subject. Try not to script the speech! Gain self confidence and you will soon begin to respect the natural public speaker hidden deep down inside of you. Select A Topic That Interests You It will make all the difference if you chose a topic that you feel strongly passionate about! You will feel excited to research the topic and make the overall speech as interesting as possible. As you immerse your heart into it, you will notice your phobia slip away. Even when you have no choice but to resort to a lackluster topic, you could make alterations to the technique or approach of speech making. For example, make a colorful PowerPoint presentation or screen a funny video! The surging enthusiasm will tranquilize the goosebumps. Be Humble, If Not Humorous While adding a glint of humor to your speech would earn you brownie points, it's not mandatory. It is important to discover your style of speaking and work on improving that. However, it is important to maintain a fine sense of humility throughout your speech. When you stand up in front of the masses, share some of your weaknesses and frailties. This highlights your image as a credible, respectable and lovable speaker. Audiences will be able to connect with you and respect your honesty. If at all, humility isn't your style, don't feign it! The pretense of acting humble is easily detectable and this will trample your image in no time! You could hence make up for it by capitalizing on your good sense of humor! After all, who doesn't enjoy a good hearty laugh! Start with a joke or narrate a bunch of anecdotes, just don't digress from the actual topic. Don't Let Hecklers Get To You! Hecklers are all over the place and most of the time, they do a pretty good job at tormenting speech makers! However, it is in your best interest that you master the art of turning a deaf ear to such obstacles or counter-attack their witty statements with a wittier one. This most definitely helps you overcome all fears. But if you are still battling with glossophobia, then you should try your best and ignore those silly sadists or respond with an "I really appreciate your comment". Visualize Success Elite athletes rely on the technique of visualization to enhance their athletic performance. Every time you rehearse your speech, visualize your audience being amazed by your oratory skills! It is best to believe in yourself and that you are conveying solution for a very strong ground-breaking problem. Hence, your audiences ought to be impressed. Hear the cacophony of thousand claps and "wows" every time you emphasize on the last sentence of your speech! Boost your confidence!

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๐Ÿ“Œ Facts of Life

๐Ÿ˜Š๐Ÿ˜Š๐Ÿ˜Š๐Ÿ˜Š๐Ÿ˜Š๐Ÿ˜Š๐Ÿ˜Š

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๐Ÿ“Œ Dress proper ladies

Two young ladies arrived in a Meeting wearing clothes that were quite revealing their body parts. Here is what the Chairman told them: He took a good look at them and made them sit. Then he said something that, they might never forget in their life. He looked at them straight in the eyes and said; "ladies, everything that God mande valuable in this world is well covered and hardly to see, find or get.

๐Ÿ‘continue to read about ๐Ÿ‘‰Dress proper ladiesโœ”

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๐Ÿ“ฐ Recent Posts๐Ÿ‘‡

A Understand Advent

1. What Is the Purpose of Advent?

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A How do you forget?

How do you forget ?
The same qualifications you have, diploma, degree, masters, PhD that which gave you that job you have , are the same qualifications that your friends have too , but they don't have the job you have. How do you forget ?
The same pastor who officiated your marriage and blessed it, today you have even children is the same pastor who officiated and blessed even your friend's marriages but they don't have children and eventually divorced . How do you forget ?
The same prayer you offered to God and God answered you is the same prayer that your friends have been praying, but up to now they haven't recieved any answer and still praying , How do you forget ?
The same road you use to travel to places and safely you reach home, is the same road that many people have died on, How do you forget ?
The same church you go to worship God to and God has blessed you, is the same church that your friend goes to worship God too, but up to now his life is still miserable, How do you forget ?
The same bed you used in the hospital and you got healed is the same bed that your friends used too but they died in there ,* **How do you forget ?
The same voice you have and you can sing songs, you can preach, you can *talk* and so on, is the *same voice* that your friends also had but eventually *stopped singing , preaching* because they had cancer of throat, *How do you forget ?*
The *same rain* that made your *field to produce good crops* and you had bumper harvest is the *same rain* that *destroyed* your friend's fields, How do you forget ? At this end of the year Come back to your God and thank Him for his kindness.
Whatever you have , is not by your power, nor your intelligence, nor your qualifications but the Grace of God
Have a wonderful new year 2017,
Be blessed In Jesus Name !

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A MARKETING STRATEGIES FOR YOUR BUSINESS

Marketing is a complex subject but one of the most important contributing factors to the success of your business. Without customers there are no sales and therefore no profits.

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A This is the sad story

๐Ÿƒ๐ŸŒน๐Ÿƒ๐ŸŒน๐Ÿƒ๐ŸŒน๐Ÿƒ๐ŸŒน๐Ÿƒ๐ŸŒน

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A Life facts which I have discovered

When I woke up I was pondering about life, I discovered that:

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A Lol ๐Ÿ˜‚ X-Mass is Jesus Birthday ๐ŸŽŠ not yours

Girl: Boo Xmas is approaching.
Boy: Thanks for reminding me. Can't wait.
Girl: Get me a Tablet for Xmas.
Boy: Really?
Girl: Yeah.
Boy: Paracetamol or Vitamin C?
Girl: I mean Samsung Tablet baby
Boy: Relax!! It's Jesus Birthday not yours!

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A Think Critically act Positively


1. ON EARNING:
Never depend on single income. Make investment to
create a second chance.

2. ON SPENDING:
If you buy things you do not need, soon you will have to sell things you need.

3. ON SAVINGS:
Do not save what is left after spending, but spend what is left after saving.

4. ON TAKING RISK:
Never test the depth of a river with both feet.

5. ON INVESTMENT:
Do not put all eggs in one basket.

6. ON EXPECTATIONS:
Honesty is a very expensive gift. Do not expect it from cheap people.

7. Past is a waste paper, present is a newspaper, and future is a question paper. Come out of your past, control the present, and secure the future.

8. When bad things happen in your life, you have three choices. You can either let it define you, let it destroy you or you can let it strengthen you.

9. Our eyes are in the front because it is more
important to look ahead than to look backwards.

10. We use pencil when we were young, but now we use pens. Do you know why? Because mistakes in childhood can easily be erased, unlike now. So read and write carefully, otherwise, life will be a
tissue paper.
__

๐Ÿ‘continue to read about ๐Ÿ‘‰Think Critically act Positivelyโœ”

A Understanding Agribusiness and Entrepreneurship study question

Many people confuse on the difference between agriculture and agribusiness. What is your opinion on that? What are the main factors that brought development in agribusiness in your coutry? (25 marks)

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A Understanding Entrepreneurs and Entrepreneurship

There is no clear consensus among entrepreneurship specialists on the definition of the word โ€˜entrepreneurโ€™ or that of its derivative, 'entrepreneurship'. While some people would treat small business owner managers and entrepreneurs as synonymous, the bulk of the entrepreneurship specialists attempt to draw a distinction between them. This distinction is central to an understanding of the meaning of 'entrepreneur'. We proceed to look at the definitions of these terms with a view to delineating the differences among them.

๐Ÿ‘continue to read about ๐Ÿ‘‰Understanding Entrepreneurs and Entrepreneurshipโœ”

A How to make people think in your way

Show respect for the others persons opinions. Never tell a man he is wrong. The only way to get the best of an argument is to avoid it. If you are wrong admit it quickly and emphatically. Begin in a friendly way. Get the other person saying Yes, yes immediately. Let the other person do a great deal of the talking. Let the other person feel that the idea is his. Try honestly to see things from the other personโ€™s point of view. Be sympathetic with the other personโ€™s ideas and desires. Appeal to nobler motives. Dramatize your ideas. Throw down a challenge

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A Which kind of witchcraft should I use?

People smoke and drink for a few days and get addicted to it.

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A Thanking God

๐Ÿ‘๐Ÿ‘THANKING GOD ๐Ÿ“–

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A See how this man reacts!

A man went for HIV test on Saturday and they told him tocome back on Monday to pic his results.On sunday he went to church and the pastor was praying and said "… may the things that you'll receive as from tomorrow be positive …"The man quickly opened his eyes and shouted "Acha ujinga weweeee!!"

๐Ÿ‘continue to read about ๐Ÿ‘‰See how this man reacts!โœ”

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