Entrepreneurship University level paper Essay Example | Topics and Well Written Essays - 250 words

Entrepreneurship University level paper - Essay Example Writers have described entrepreneur as a person who’s chief and distinctive abilities are to take risks, has knowledge of market functions and manufacturing know-how, has marketing and management skills and finally possesses the ability to co-operate with others (Littunen 2000). He is able to foresee the unknown, and be daring enough to try it out of absolute desire to take risk. He identifies an opportunity, goes against conventional wisdom and pursues an untried strategy for the joy of achievement of his desired intention. Profit is but a secondary motive to the individual entrepreneur although in a corporate environment, as he cannot ignore it, he skillfully builds his actions around it. Bird (1988, 1992) says that entrepreneurship is a state of mind that reflects how a person focuses his attention and uses his experience and behavior to a specific objective. Intentions are what differentiate an entrepreneur from a normal person. According to Wiklund and Shepherd (2003) they have a mindset that has a strategic orientation for decision making in a specific style, method and practice. Bird, B., (1988), Implementing entrepreneurial ideas: The case for intention. Academy of Management Review, 13, 3, pp 442-453. Retrieved June 23, 2009, from Library and Information Service, Curtin University of Technology. Bird, B., (1992), "The operation of intentions in time: the emergence of new venture", Entrepreneurship Theory and Practice, 17, 1, pp 11-20. Retrieved June 23, 2009, from Library and Information Service, Curtin University of Technology. Littunen, H., (2000), Entrepreneurship and the characteristics of the entrepreneurial personality, International Journal of Entrepreneurial Behavior & Research, 6, 6, pp 295-309. Retrieved June 23, 2009, from Library and Information Service, Curtin University of Technology. Wiklund, J., and Shepherd, D., (2003), Knowledge-based resources, entrepreneurial orientation, and the