But number ones things foremost, what does the term enterpriser means. This denomination is non recent, the first definition of it was released in the 18th century thanks to the work of a Gallic economic expert Richard Cantillon. Indeed, he has received acknowledgment as the innovator of the impression of entrepreneurship ( Murphy, 2006 ) he identified that an enterpriser is person who take determination and aware of the hazards an endeavor generates. In the 20th century ( A. , 1965 ) , Schumpeter described an enterpriser as an pioneer. More late, harmonizing to Onuoha ( G. , 2007 ) , entrepreneurship is respond to an analyzed chance by get downing a new concern.
For many economic experts or specializers in the field of entrepreneurship, being an enterpriser is non something we can larn but something inborn. Harmonizing to Frakes et al. , persons DNA and personality are of import histrions in whether the people can or can non go a successful enterpriser. In other words, Frakes explicitly states the persons are born enterprisers or non, it is non something which can be taught. As said antecedently, everything is in the cistrons of the persons, in their personalities. What traits of personality leads to the success as an enterpriser? Harmonizing to the plants of many different writers and economic experts like Frederick et. Al. ( 2007 ) , Sexton and Bawman ( 1984 ) or Bolton and Thompson ( 2000 ) , some traits of personality are more likely to be the keys of what makes a successful enterpriser:
Need for Achievement
Need for Autonomy
Locus of Control
The Need for Achievement plays an of import function in the traits of personality that an enterpriser demand. Thankss to the work of Stewart ( 1998 ) , it has been reported that the will of accomplishment of an enterpriser was higher than both corporate director and small-business owners-managers. Harmonizing to the theory of McClelland ( 1961 ) , this demand makes the single to fight for the success. It is easy to associate this trait of personality with the impression of aspiration, which is defined by lexicons as a strong desire to accomplish something. It is easier for a individual to win in problem-solving and decision-making procedure when holding a strong demand for accomplishment ( Littunen, 2000 ; Utsch and Rauch, 2000 )
Many research workers suggested that feelings and action of personality are motor forces for all human creative activities. The positive gestures affect the variables called feelings and emotions which is a nexus between them and they are analysed in different environments. The positive mentality indicates the positive feeling which promotes creativeness.
Merely like the demand for accomplishment, Need for Autonomy ever had a close relationship to the entrepreneurial motive. It has been characterized as the aspiration of being independent and self-directing ( Harrell & A ; Alpert, 1979 ; McClelland, 1975 ) . The Need for Autonomy has besides been described as a forecaster of the successful “ fit ” of an person with an entrepreneurial place ( Harrell & A ; Alpert, 1979, p. 264 ) .
The Locus of Control is besides a truly of import character in the traits of personality a individual should hold to be a successful enterpriser. It is related on how he or she can manage the events in life ( Leone and Burns, 2000 ) . The Locus of Control is an emotion dimension which relies on the thought of control. There are two distinguishable kinds of it, the external and internal venue of control. A individual with an external venue of control will be able to believe and believe beyond the fortunes like destiny, while persons with an internal venue of control will more likely believe in personal control events and effects in lives ( Koh, 1996 ; Riipinen, 1994 ; Hansemark, 1998 )
The Risk-Taking leaning is a critical factor for a successful enterpriser. Having an entrepreneurial place within an administration require non being afraid of decision-making and risk-taking procedures. It is sensible to anticipate in any profile of what make an enterpriser to hold risk-taking leaning. Harmonizing to Chantillon ( 1755 ) the chief difference between an enterpriser and an employee was the hazard involved in the work they are making. Another difference is, at the antonym of a regular employee or even a director, an enterpriser personally takes all the hazards ( Erdem, 2001 ; Brockhaus, 1980 ; Littunen, 2000 ) .
Even though this “ born-made ” argument have been argued for decennaries, some rational like Hollander in 1971, affirm that a portion of our personality is congenital and lasting. Other psychological like Hans Eysenck ( 1965 ) , suggests that 75 % of an single personality is based on familial influence, and therefore, merely 25 % based on external influence.
It is loosely said that some traits of personality are critical to go a successful enterpriser. In general, psychologists believe that, even if a individual is non born with these unconditioned features, come others which can be learn and act upon the latter, and that is what we will discourse in the following portion.
The other side of the argument, the trusters that entrepreneurship is something which can be taught and learnt, has many statements as good. In fact, the bulk respondents in a study conducted by Hood and Young in 1993 of chiefs executives from entrepreneurial houses believed that “ while personality traits are hard to act upon, the huge bulk of cognition required by enterprisers can be taught ” . Furthermore, we can easy detect the turning sum of people interested in that field and who choose to analyze this peculiar country during their surveies by the measure of books covering the topic by a speedy research on a web site like Amazon. With the key word “ entrepreneurship ” , the web site generates about 30,000 consequences.
But the inquiry here is the undermentioned: if being an enterpriser can be taught, what are the impressions and cognition that needs to be learnt?
Harmonizing to Schumpeter ‘s vision of entrepreneurship, three facets are identified as critical to be taught to a future enterpriser: chance acknowledgment, resource acquisition and invention. However, from Schultz ‘s reading of it, it is necessary to add a 4th facet: the direction of bing resources.
The latter, pull offing bing resources is non merely concern skills-based, but a mix with other leading and determination devising cognition. Every pupil in any concern school over the universe will hold to larn these impressions. This compose the base of most undergraduate concern plans.
Again, the resource acquisition constitute many undergraduate entrepreneurship classs. For case, here in the University of Exeter, some of our talks in the faculty “ Could You be an Entrepreneur? ” focal point on the acquisition of resources: composing concern programs, geting venture, marketing new merchandises, etc. We learn these accomplishments through basic impressions coming from analysis, instance surveies or even project like the concern program we have to fix.
The chance acknowledgment is decidedly the anchor of the accomplishments which demands to be learnt by immature enterprisers. Although, something highly of import harmonizing to Alvarez and Barney ( 2005 ) , is that it does non merely affect the designation of existent chances, but besides the creative activity of new 1s. Normally, this impression is taught via creative-thinking activities.
Finally, the construct of invention. This one is evidently the most contested, is it truly possible to learn person how to be advanced. Myocardial infarctions said: “ What distinguishes the successful enterpriser [ … ] is the fact that he does non allow himself be guided by what was and is [ … ] . He sees the yesteryear and the present as other people do ; but he Judgess the hereafter in a different manner ” ( Mises, 1949, p. 585 ) . The message here is that a successful enterpriser demands to be cognizant of what surrounds the company and therefore, is ever one measure frontward from his rivals. In other words, the impression of invention can non be learnt, but the thought of systematically being qui vive of the environment can be assimilated.
In add-on to these four facets or impressions which can be taught through his academic life, the person can besides larn some other variables. For illustration, a individual is more likely to get down a new concern in the country he used to work as an employee because he know for facts how the field works and the ways the market is articulated ( Brockhaus, 1982 ) . In 1986, Timmons will back up this thought by happening that the most successful enterprisers have acquired many old ages of experience in the field they have started their concern. Surveies besides have shown that a deficiency of experience can ensue to a shorter calling as an enterpriser ( Ronstadt, 1984 ) .
To sum up, the side which argue for the fact that entrepreneurship is something which can be taught is non incorrect. Indeed, as discussed in this portion, some knowledge an enterpriser should hold can be learnt by an person in school or university. Some others are learnt through the professional calling.
We can easy state that many factors play a function in an entrepreneur life in order to be successful. The inquiry “ is an enterpriser made or born? ” does non hold one precise reply, as we saw, it may differ from one individual to another.
In this essay, we have developed the fact that some traits of personality are inborn and can non be gained by everyone, the demand for accomplishment, the positive mentality, the demand for liberty, the venue of control and the hazard taking inclination. These traits can play a monolithic function in doing an enterpriser successful or non. However, normally, between the clip a individual will pass in university, larning the accomplishments needed to put up his ain concern, and the minute he or she will really make it, there is a spread. This spread will give him the chance to derive work experience and concern experience which will be critical for him and for his future administration.
The best is to be a balance these factors. Neither the individual with the perfect congenital personality traits or these with the best instruction can anticipate to be successful as an enterpriser. Having the good personality traits is an first-class start but when it is build up with a strong concern and instruction experience it is even better. In other words, a successful enterpriser is neither born nor made, they are born and made.
The inquiry we could inquire ourselves now is to cognize if there is some factors more critical than the others in the success of an enterpriser and if there is, what are they and how should we pull off them?