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."
Table of Contents
Introduction
Entrepreneur Life Cycle
Manager Life Cycle
Comparison of Task’s
Comparison of Skills
Environmental Influences
Conclusion
Research Objectives and Topics
This paper examines the fundamental similarities and differences between entrepreneurs and managers. It aims to determine whether entrepreneurs possess unique characteristics or if they are simply a highly effective category of managers, while exploring the life cycles, tasks, and skill sets inherent to both professional roles.
- The comparative analysis of Entrepreneurial and Managerial Life Cycles.
- Evaluation of key professional tasks such as team building, innovation, and problem-solving.
- Assessment of essential competencies including creativity, risk-taking, and self-confidence.
- The influence of environmental and cultural factors on entrepreneurial behavior.
- The distinction between internal, individual traits and external business requirements.
Excerpt from the Book
Building a team
Firstly they have to form a creative and high-qualified team, which exactly fits the required standards. Thereby they have to unify different characters, personalities and opinions and motivate this group. "An entrepreneurial team can, in principle, generate a series of successful solution concepts, and in case follow the concept through to maturity," but it must be lead efficiently throughout various projects over a long-term period.
Recruitment in this context is also an important task to secure further expand of their companies. Therefore "many directors emphasised their companies’ reliance upon the recruitment, development and motivation of high-quality staff. Their belief was also commonly supported by profit-sharing schemes, upon communication policies, management share option schemes, internal promotion, staff training schemes and other positive programmes aimed at maintaining good employee relations."
Summary of Chapters
Introduction: Provides the foundational context for the study, highlighting the difficulty in defining entrepreneurship and setting the stage for comparing entrepreneurs with business managers.
Entrepreneur Life Cycle: Introduces a five-stage theoretical model—education, employment, self-employment, leadership, and retirement—to categorize the development of an entrepreneur.
Manager Life Cycle: Outlines a four-stage model for managers, comparing their career progression and societal responsibilities to those of the entrepreneur.
Comparison of Task’s: Analyzes the specific duties of business leaders, focusing on team building, leadership styles, managing innovation, and strategic problem-solving.
Comparison of Skills: Discusses the core competencies required for business success, such as creativity, life-long learning, good judgment, and self-confidence.
Environmental Influences: Examines how culture and external factors, such as social and educational systems, influence the development of entrepreneurial behavior.
Conclusion: Synthesizes the findings to argue that the entrepreneur is, in essence, a very effective type of manager, sharing many core traits and challenges.
Keywords
Entrepreneurship, Management, Life Cycle, Leadership, Innovation, Business Strategy, Recruitment, Team Building, Risk Management, Professional Development, Entrepreneurial Culture, Decision Making, Market Understanding, Business Leaders, Competences.
Frequently Asked Questions
What is the core focus of this research paper?
The paper fundamentally investigates the relationship between entrepreneurs and managers to determine if they are distinct entities or if the entrepreneur is simply an exceptionally effective type of manager.
What are the primary thematic areas covered?
The work explores life cycle models for both roles, the specific tasks required to sustain business growth, essential skill sets, and the influence of external environments on behavior.
What is the main research goal?
The objective is to analyze whether the characteristics and tasks of entrepreneurs are unique or shared with high-level managers, ultimately testing the hypothesis that they are different manifestations of business leadership.
Which scientific methods were employed?
The paper utilizes a theoretical comparative approach, drawing on established academic literature and business management theory to map life cycles and behavioral traits.
What topics are discussed in the main body of the work?
The main body treats the stages of professional development, the practicalities of building and motivating teams, the necessity of innovation, and the role of risk management and vision in business.
Which keywords best characterize this work?
Key terms include Entrepreneurship, Management, Life Cycle, Leadership, Innovation, and Business Strategy.
How does the author interpret the "Entrepreneur Life Cycle" in this context?
The author adapts the product life cycle concept to human career development, segmenting the path from education through employment to leadership and eventual retirement.
What conclusion does the author reach regarding the difference between a CEO and an entrepreneur?
The author concludes that despite some differences in the speed of skill acquisition, both roles rely on similar core competencies, leading to the view that the entrepreneur is essentially a specialized and highly effective manager.
- Citar trabajo
- Oliver Weimann (Autor), 2001, The Entrepreneur is just another Manager - albeit a very effective one, Múnich, GRIN Verlag, https://www.grin.com/document/4536
