- In this text, anyone who owns a business is an entrepreneur.
- A small business owner is an entrepreneur.
- Someone who is self-employed is an entrepreneur.
- There are several ways in which people become entrepreneurs.
- Founders are people who start a new business.
- Buyers purchase businesses.
- Others may own a franchise.
- Some may be heirs of a family business.
- After entry, most entrepreneurs become owner-managers.
- Throughout this text the terms small business owner, entrepreneur, and self-employed are used interchangeably.
- Self-employed founders of firms are involved in what the authors call independent entrepreneurship.
- Founders of not-for-profit organizations or for-profit social ventures are pursuing social entrepreneurship.
- These efforts involve creating new charitable and civic organizations that are financially self-sufficient, or for-profit companies the use much of their profit to fund charities such as Tom’s Shoes does.
- When the focus is more specifically on the planet and ecological issues, we call it sustainable entrepreneurship or green entrepreneurship.
- Yet another type of entrepreneur, innovative individuals who are employed by others in existing companies are pursuing corporate entrepreneurship.
- In corporate entrepreneurship, the focus is typically on bringing new products or services to market, or opening up new markets for your firm.
- Together, these three represent what might be called CSI entrepreneurship or the three forms of entrepreneurship and people move between the three forms more often than you might think.
- There are two kinds of motivation driving most entrepreneurs.
- Opportunity-driven entrepreneurship is entrepreneurs who are going into business to improve themselves financially or to launch an improved product or service into the market.
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Learn More Online Corporate Entrepreneurship: Early To Rise earlytorise.com/corporate-entrepreneurship/ Social Entrepreneurship: Ashoka ashoka.org/en-US Independent Entrepreneurship: Entrepreneur Magazine entrepreneur.com/ |
The other type is where the person becomes an entrepreneur because they do not see any workable prospects for getting employed by someone else – this is called necessity-driven entrepreneurship. Entrepreneurship Elsewhere
There is a patters (see Figure 1.5) to which countries are likely to have high rates of entrepreneurship, and which will have lower rates.
< >In nations where there is little manufacturing, most industry relates to farming and extracting raw materials, such as mining and forestry.