The Entrepreneur is just another Manager - albeit a very effective one (ePub)

Seminar paper from the year 2001 in the subject Leadership and Human Resource Management - Miscellaneous, grade: A 15 - deu, University of Wolverhampton (Business), course: Business Enterprises and Competences, language: English, abstract: Entrepreneurial behaviour can be seen in various areas like sports, music, solidarity, etc. just to mention a few. In this context we have to focus on the business style entrepreneur to enable the comparison with the manager.

But what exactly does an entrepreneur and which characteristics he fits? Thereby even experts despair at the question what exactly makes an entrepreneur successful und which lacks leave him fail. "Entrepreneurship is an extremely topical subject. The concept of entrepreneurship is useful, however, only if it is careful defined. It is sometimes suggested that entrepreneurship is to be found mainly in high-technology industries or in owner-managed firms," but if we look in history entrepreneurs can be found in every branch. Moreover it would point out that an entrepreneurs is not just another manager, but a business owner. Otherwise it would lack concrete information about the differences between these two kinds of business leaders.

"I am often asked what it is to be an 'entrepreneur' and there is no simple answer. It is clear that successful entrepreneurs are vital for a healthy and competitive economy. If you look around you, most of the largest companies have their foundations in one or two individuals who have the determination to turn a vision into reality." (Richard Branson, 1995)

Even one of the greatest entrepreneurs of the last century does not have a concrete definition or explanation about entrepreneurship. Therefore we need to evaluate firstly which components influence persons to be entrepreneurs or managers.

"Certainly, internationally we can see that many of today's dominant corporations, have been spawned by individuals with vision and, importantly, the commitment to turn that vision into a reality. What they have in common is that they saw an opportunity, commercialised it, and in the process created wealth and jobs that, hopefully, benefit the rest of the society. Such entrepreneurs are people who have the courage and self-belief to turn their own dreams into realities. Furthermore, they permeate all levels of society and every walk of life."