The Development Of A Successful Business Venture...

Abstract: What is an entrepreneur? Entrepreneurship is the act of being an entrepreneur, which is a French word meaning one who undertakes an endeavor. Entrepreneurs assemble resources including innovations, finance and business acumen in an effort to transform innovations into economic goods. This may result in new organizations or may be part of revitalizing mature organizations in response to a perceived opportunity or necessity. The most obvious form of entrepreneurship is that of starting new businesses; however, in recent years, the term has been extended to include social and political forms of entrepreneurial activity. The purpose of this paper is to find out to what personal values determine the development of a successful†¦show more content†¦It involves hard work and most are generally workaholics. Entrepreneurs have a nurturing quality and are willing to take charge of, and watch over a venture until it can stand alone. They have an acceptance of responsibility. They are morally, legally, and mentally accountable for their ventures. Some entrepreneurs may be driven more by altruism than by self-interest. They reward orientation and have a desire to achieve, work hard and take responsibility, but also want to be rewarded for their efforts; rewards can be in forms other than money, such as recognition and respect. They are optimistic and live by the philosophy that this is the best of times, and that anything is possible. They have an orientation to excellence and often desire to achieve something outstanding that they can be proud of. They have strong organization and are good at bringing together the components of a venture. They want to make a profit; but the profit serves primarily as a meter to gauge their success and achievement. The demand theory holds that entrepreneurs emerge out of the combination of entrepreneurial opportunities and people who are well-positioned to take advantage of them. Anyone who encounters the right conditions might become an entrepreneur, if they find themselves in a position where they find a valuable problem that they alone can solve. An entrepreneur is a person who