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August 6, 2009
An entrepreneur assumes the risk of owning and operating a business in exchange for financial and other rewards that the business may produce. By contrast, an intrapreneur is a person employed by an organization whose compensation is based, at least in part, on the financial success of the unit for which he or she has responsibility.
An entrepreneur is an individual who accepts financial risks and undertakes new financial ventures. In a general sense applies to any person starting a new project or trying a new opportunity.
Many societies place great value on the entrepreneur. To encourage their activity, they may be offered access to inexpensive capital, tax exemptions and management advice. An entrepreneur has the greatest chance of success by focusing on a market niche either too small or too new to have been noticed by established businesses.
To help new technologies come to market, many universities establish businessincubators for entrepreneurs hoping to turn leading edge research into marketable products.
Characteristics of an entrepreneur include spontaneous creativity, the ability and willingness to make decisions in the absence of solid data, and a generally risk-taking personality. An entrepreneur may be driven by a need to create something new or build something tangible.
Social Entrepreneur
Just as entrepreneurs change the face of business, social entrepreneurs act as change agents for society, seizing opportunities others miss and improving systems, inventing new approaches and creating sustainable solutions to change society for the better.
Unlike business entrepreneurs who are motivated by profits, however, social entrepreneurs are motivated to improve society. But social entrepreneurs are just as innovative and change-oriented as their business counterparts, always searching for new and better ways to solve the problems that plague society.
Entrepreneurs¬タル Organization
EO stands for Entrepreneurs¬タル Organization and is a non-profit membership group for entrepreneurs. It is designed to help business owners on their path to greater business and personal fulfillment.
There are EO chapters worldwide, affording the opportunity to interact with entrepreneurs from many different business segments and locations. The Reno/Tahoe chapter currently has about 30 members, all local business owners who welcome the opportunity to interact with others and improve themselves and their business
Entrepreneurial Management
The Entrepreneurial Management Unit strives to raise the level of academic work in the field of entrepreneurship, in methodological rigor, conceptual depth, and managerial applicability. We also strive to improve the odds of entrepreneurial success for our students and for practitioners worldwide.
Because it is such a complex phenomenon, entrepreneurship must be studied through multiple lenses. We use three.
The process of entrepreneurship – We seek to understand the processes of entrepreneurial activity in start-ups and established firms by examining the antecedents and consequences of various forms of entrepreneurial opportunity identification and opportunity pursuit for individuals, organizations, and industries. We see experimentation and innovation in products, services, processes, and business models as central to entrepreneurial activity.
The finance of entrepreneurship – We seek to understand the financing of entrepreneurial ventures by studying the antecedents and consequences of entrepreneurial funding decisions both domestically and internationally.
The context of entrepreneurship – We seek to understand the ways in which entrepreneurs both respond to and shape the context in which they operate, by examining the history of entrepreneurship across time and national borders and by analyzing the legal and cultural contexts for managerial action.
Ideas for new businesses are common. Indeed, universities like Columbia are hotbeds for the development of novel ideas of diverse types. What distinguishes great entrepreneurs from others is two fold.
First is the ability to discriminate between just a great idea and a truly meaningful business opportunity. We call this opportunity recognition.
The second distinguishing factor is the ability to mobilize resources to pursue attractive opportunities.
The quality of the social networks of nascent entrepreneurs is a key determining factor of their ability to mobilize resources. At Columbia Business School, we help our students to understand what kinds of networks facilitate entrepreneurial activity.
In addition, through the diverse activities of our Lang Center for Entrepreneurship and the encouragement of our faculty and alumni, we endow our students with the seeds of a professional network that will facilitate their lifelong pursuit of entrepreneurial opportunities.
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