Entrepreneur
is a complex term that’s often defined simply as running your own business.
While entrepreneurship is the process of designing, launching and running a new
business which is often initially a small business. The person who creates
these businesses is called as entrepreneur. Entrepreneurships are likely
linking to the economic growth.
The
growth intentions of an entrepreneur were influenced by their own attitudes, by
the views of other people. For example by observing their spouse, business
partner, accountant or banker, and by the perceived feasibility of success. The
attitudes of the entrepreneur were influenced by positive factors such as
financial implications, contribution to the community and recognition of the
community but they were negatively influenced by factors such as work-family
balance, additional stress, and potential loss of control. The combination of
these influences contributed to the accumulation on an entrepreneur’s growth
intentions, which combined with competitive advantage and managerial skills
determined the growth outcome of the firm.
Next
is views of significant others. Based on the journal, this point discussed
about how the others views can lead to growth outcomes. Much of the literature
reviewed agreed that the most significant barrier to growth was based upon
psychological or motivational factors. If there is not a strong commitment by
the entrepreneur / management team to grow the business, then it is unlikely to
happen of its own accord. However, even if the commitment to growth is
demonstrated, then issues such as management capability, funding, shortage of
orders, sales / marketing capacity and poor product / service offering has also
been featured in the literature as being the primary barriers to firm growth. Perceived
feasibility is one of the factors of growth intention. When the entrepreneur
realized what will happen in the future, it will lead to a business growth.
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