Executive Summary
Entrepreneurs are doubtlessly not like other people. They differ possibly by personal attributes, family background or gained experiences in their private or professional life.
Not everyone has it in oneself to be an entrepreneur. The majority of start-ups worldwide need to declare bankruptcy after a short time. The art here is to assure the survival of the business and to guarantee its expanding. There are various theories trying to explain why some people can make it and others do not. Is it due to the education? Or is the individual’s character and temperament the crucial factor?
Another question in this context is, if it is possible to become a successful entrepreneur or if entrepreneurs have some inherent qualities or talents that others never will have.
The role of the entrepreneur in society has changed in recent years. He has improved his international standing; people recognise his creative innovations that simplify our lives, boosting the economy through self-exertion and adding new jobs. Harrell (1992) summarises that “If it were not for the entrepreneurs, we would be in a depression that would make 1929 seem like a boom“. The German Chamber of Industry and Commerce (2002) supports this point of view. “Entrepreneurs...facilitate productive change and vitalize competition and hence most cities support them.”
Table of Contents
1 Historical approaches to define entrepreneurship
2 Entrepreneurship – a critical discussion
2.1 Environmental background
2.1.1 Family
2.1.2 Education
2.1.3 Experiences
2.2 Personal attributes
3 The born or the made entrepreneur
4 Entrepreneurial roles
5 Introduction
6 Source People limited – company profile
7 David Priestley’s environmental background
7.1 David Priestley’s family
7.2 David Priestley’s education
7.3 David Priestley’s experiences
8 David Priestley’s personal attributes
8.1 Networking
8.2 Passion
8.3 Taking and managing risks
9 Made or born
10 Source People limited: Entrepreneurial firm or small business?
11 Entrepreneurial Growth
12 Conclusion
13 References
14 Appendix
Objectives and Topics
This study explores the multifaceted nature of entrepreneurship by bridging theoretical frameworks with empirical insights. It examines the personal, environmental, and behavioral drivers of entrepreneurial success through both academic literature and a direct interview with a practicing entrepreneur, aiming to define the core qualities that constitute an entrepreneurial mindset.
- Historical evolution of entrepreneurship definitions
- Impact of environmental background, education, and personal experiences
- Critical analysis of the "born vs. made" entrepreneur debate
- Differentiation between small businesses and entrepreneurial firms
- Examination of entrepreneurial growth strategies and risk management
Excerpt from the Book
7.2 David Priestley’s education
David studied and graduated at Robert Gordon University in Aberdeen but he was never one of the most ambitious students and sailed often through standard grades. Once he failed one of the exams first time round; ironically it has been an exam in HR Management. Due to this failure he was not allowed to progress into second year and that was an important turning point for him. He was abruptly inspired; it fuelled his ambition: “I’m not doing a five year degree; I want my degree in four years.” His lecturer gave him the unique chance to make a placement during the third year and to make the second year after in order to rejoin his class in fourth year. David was late to find a placement; he could only find a position as an administration assistant for a company called Team Recruitment.
David Priestley’s education conforms to the hypothesis that there is no proved connection between entrepreneurial success and education.
Summary of Chapters
1 Historical approaches to define entrepreneurship: An overview of the historical evolution of the term "entrepreneur," tracing its roots from 14th-century French definitions to modern economic theories by figures such as Cantillon, Say, and Schumpeter.
2 Entrepreneurship – a critical discussion: A critical examination highlighting the lack of a single, coherent definition of entrepreneurship, emphasizing the need to consider diverse psychological, sociological, and economic perspectives.
3 The born or the made entrepreneur: An analysis of the debate regarding whether entrepreneurial talent is innate or acquired through learned skills and experience.
4 Entrepreneurial roles: A conceptual model illustrating the diverse roles entrepreneurs play, distinguishing between owner-managers, intrapreneurs, and those running "Me-Stock-Corporations."
5 Introduction: An introduction to the empirical section of the study, which utilizes an interview with David Priestley to test existing entrepreneurial theories.
6 Source People limited – company profile: A descriptive profile of the recruitment agency founded by David Priestley, detailing its business model and operational focus.
7 David Priestley’s environmental background: An investigation into how Priestley's family background, education, and childhood experiences influenced his career path and entrepreneurial drive.
8 David Priestley’s personal attributes: An analysis of the personal soft skills—such as networking, passion, and risk-taking—that have contributed to the success of Source People limited.
9 Made or born: A brief reflection on Priestley’s own view regarding the origins of his entrepreneurial motivation.
10 Source People limited: Entrepreneurial firm or small business?: A comparison between small business characteristics and the entrepreneurial dynamics found at Source People limited.
11 Entrepreneurial Growth: An exploration of growth strategies, focusing on how successful entrepreneurs innovate and diversify rather than just aiming for standard economic expansion.
12 Conclusion: A synthesis of findings confirming that, while there is no universal definition, David Priestley exhibits the essential criteria of a successful entrepreneur.
Keywords
Entrepreneurship, Entrepreneur, Source People, Business Growth, Recruitment, Networking, Personal Attributes, Risk Management, Innovation, Startup, Small Business, Environmental Background, Intrapreneur, Corporate Strategy, Career Development
Frequently Asked Questions
What is the primary focus of this study?
This work explores the complexity of defining "entrepreneurship" by evaluating various academic theories and testing them against the practical experiences of an entrepreneur.
What are the central themes covered in the paper?
The core themes include environmental influences on career choice, the debate over innate vs. acquired entrepreneurial skills, the importance of networking, and strategies for managing business growth.
What is the main objective of the research?
The objective is to determine if David Priestley, as a founder of a recruitment agency, meets the theoretical and practical criteria commonly associated with being a successful entrepreneur.
Which scientific methods were employed?
The research uses a combined approach of secondary research—reviewing literature from renowned authors—and primary research, specifically a face-to-face interview with the subject.
What does the main body address?
The main body systematically analyzes the subject's background, personal attributes, and company development, while also discussing the distinctions between traditional small businesses and entrepreneurial firms.
What keywords characterize the study?
Key terms include Entrepreneurship, Business Growth, Recruitment, Innovation, and Entrepreneurial Attributes.
How does David Priestley distinguish his company from a traditional small business?
Priestley emphasizes that while his company meets certain quantitative criteria of a small business, its growth-oriented strategy, innovation, and risk-taking behavior align it more closely with the definition of an entrepreneurial firm.
What role does networking play in Priestley’s success?
Networking is identified as a crucial tool for both increasing turnover and building long-term professional credibility, which Priestley considers essential for any entrepreneur.
- Quote paper
- Stefanie Drescher (Author), 2007, What is entrepreneurship? - Historical approach and critical disscusion , Munich, GRIN Verlag, https://www.grin.com/document/79134
