Entrepreneurs Essay Example | Topics and Well Written Essays - 1000 words

Entrepreneurs - search ExampleThe basic attributes of an entrepreneur comprise risk taking, opportunity seeking, innovation, high degree of motivation, unconventional, positivism, goal-oriented, leadership skills, police squad management, problem solving skills and most importantly, ability to take initiatives. The innovative nature and ability to take deliberate risk differentiate entrepreneurs from other business owners (Cuervo, Ribeiro and Roig, 2007).Entrepreneurs are considered extremely important for mixer and stinting ontogenesis. The main(prenominal) advantages of entrepreneurial development are effective utilisation of resources, employment generation, creation of human and social capital, development of backward and rural areas, minimisation of power and wealth inequality, reduction in regional imbalance and economic growth. Cantillons theory suggests that involvement of risk in entrepreneurship helps in maintaining equilibrium in demand and fork up in an economy. Ent repreneurial development for societal progress is supported by a number of theories such as, David McClellands theory of needs and Maslows hierarchy of needs (Bula, 2012). In addition, Schumpeter and Drucker argued that entrepreneurial innovation is obligatory for exploiting unseen opportunities and encouraging changes in the economy (ledzik, 2013).There are a number of entrepreneurs presently operational in surrounding business environment. Under broad categories, they can be classified as social entrepreneurs, women entrepreneurs and intrapreneurs.Social entrepreneurs are by nature innovators, but they are different from business entrepreneurs in scathe of purpose. They play distinct role in developing and initiating changes in the society. Social entrepreneur is an individual who recognises problems preponderating in the society and employ principles of entrepreneurship for creating and supporting scope of social ventures. Social entrepreneurs