Who are entrepreneurs? According to an economist Joseph Alois Schumpeter (1965), defined entrepreneurs as individuals who exploit market opportunity through technical and/or organizational innovation. The word “entrepreneur” comes from 13th century French verb “entreprendre”, which has the meaning of “to do something” or “to undertake”. Nowadays, an entrepreneur can be defined as a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk.
Why entrepreneurs are so important in our life? They contribute to our economy. Entrepreneurs can change the way we live and work. If successful, their innovations may improve our quality of living, such as bulbs, computers, smart phones, thumb drives, and others. Apart from that, they also create job opportunity to the community.
In fact, everyone has a chance to be an entrepreneur, but not everyone can be the successful one. To succeed in the field of business, an entrepreneur should possess some good quality of entrepreneurial traits. These characteristics will assist the entrepreneurs to sustain their business.
In this assignment, we will identify and analyse the eight entrepreneurial traits, which are persuasion, self-confidence, work commitment, efficiency oriented, tolerance for failure, high initiative level, information seeking and problem solving. These entrepreneurial traits are applied by the successful entrepreneurs to operate their business.
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