Influences and Characteristics of Entrepreneurial Behavior Essay

Management skill and strong team building abilities be often perceived as essential leadership attributes3 for successful entrepreneurs. Robert B. Reich considers leadership, management ability, and team-building as essential qualities of an entrepreneur. This concept has its origins in the model of Richard Cantillon in his Essai sur la Nature du Commerce en (1755) and Jean-Baptiste Say4 in his Treatise on Political Economy.Psychological studies show that the psychological propensities for male and female entrepreneurs are more similar than diverse. A growing body of work shows that entrepreneurial behavior is dependent on social and economic factors. For example, countries with healthy and diversified labor markets or stronger safety nets show a more golden ratio of opportunity-driven rather than necessity-driven women entrepreneurs. Empirical studies suggest that male entrepreneurs possess strong negotiating skills and consensus-forming abilities.Research studies that explore the characteristics and personality traits of, and influences on, the entrepreneur have come to differing conclusions. Most, however, agree on certain consistent entrepreneurial traits and environmental influences. Although certain entrepreneurial traits are required, entrepreneurial behaviours are also dynamic and influenced by environmental factors. Shane and Venkataraman (2000) argue that the entrepreneur is solely concerned with opportunity recognition and exploitation, although the opportunity that is recognised depends on the type of entrepreneur while Ucbasaran et al. (2001) argue in that location are many different types contingent upon environmental and personal circumstances.Jesper Srensen has argued that some of the most significant influences on an individuals decision to become an entrepreneur are work peers and the social composition of the workplace. In researching the likelihood of becoming an entrepreneur based upon work with former entrepreneurs, Srensen discove red a correlation between working with former entrepreneurs and how often these individuals become entrepreneurs themselves, compared to those who did not work with entrepreneurs.5 The social composition of the workplace can influence entrepreneurism in workplace peers by proving a contingency for success, causing a He can do it, why cant I? situation. As Srensen stated, When you meet others who have gone come out of the closet on their own, it doesnt seem that crazy. 5Perception of entrepreneursThe ability of entrepreneurs to innovate is thought to relate to innate traits such as extroversion and a proclivity for risk-taking. correspond to Schumpeter, the capabilities of innovating, introducing new technologies, increasing efficiency and productivity, or generating new products or services, are characteristic qualities of entrepreneurs.Entrepreneurs are catalysts for economic change, and researchers argue that entrepreneurs are gamely creative individuals with a tendency to im agine new solutions by finding opportunities for profit or reward.6 Largely due to the influence of Schumpeters heroic conceptions of entrepreneurs, it is widely maintained that entrepreneurs are unusual individuals. In line with this view, there is an emerging research tradition investigating the genetic factors that are perceived to make entrepreneurs so distinctive (Nicolaou and Shane, 2009).However, there are also critical perspectives that attribute these research attitudes to oversimplified methodological and/or philosophical assumptions (Gartner, 2001). For example, it has been argued that entrepreneurs are not that distinctive, but that it is in essence unrealistic preconceptions close non-entrepreneurs that maintain laudatory portraits of entrepreneurs (Ramoglou, 2011).Classification of entrepreneursA. Based on functional characteristics1. Innovative entrepreneur such(prenominal) entrepreneurs introduce new goods or new methods of production or discover new markets or reor ganize the enterprise. 1. EX new product, new ways of product, new markets and reorganise the enterprise. 2. Imitative or adoptive entrepreneur Such entrepreneurs dont innovate,they copy technology or technique of others.1. EX Chinese mobiles.3. Fabian entrepreneur Such entrepreneur display grates situation and disbelief in experimenting with any change in their enterprise. They change only when there is a serious threat to the very existence of the enterprise. 4. Drone entrepreneurs Such entrepreneurs are characterised by a diehard conservatism and may even be prepared to suffer the losses. 1. EX Acc. To MC Kinsey in 2015, 110-130 million people entrust be unemployed out of which 90-100 million people will be Fresher.editB. Based on development angle1. Prime mover This entrepreneur sets in motion a powerful sequence of development expansion and diversification of business. 1. EX Ambani 2. Manager such an entrepreneur doesnt initiate expansion and its guinea pig in just staying i n business. 3. Minor innovator This entrepreneur contributes to economic progress by finding better use for existing resources. 1. EX minimal wastage maximum production.4. Satellite This entrepreneur assumes a suppliers role and slowly move towards a productive enterprise. 5. Local trading such entrepreneur limits his enterprise to the topical anaesthetic market.C. Based on entrepreneurs business1. Manufacturing2. Wholesaling3. Retailing4. ServiceBased on personality traits1. The improver They have unwavering to run these businesses with high integrity and ethics. 2. The consultant Customer is right and we must do everything to please him because company is built by advisors and advisors become customer focused. 3. The superstar All depends upon the charisma and on the high energy of the superstar CEO. 1. EX Richard Branson (400 cos/Virgin coin), Larry Page (Google), Lt. Steve Jobs (Apple), Ratan Tata (Tata sons). 4. The artists Are highly creative type, very conscious about busi ness. If feedback is inferential i.e. positive than also lets go with negative self-image. 1. EX Aamir Khan, Michael Dell (Dell), MC Cormich (EMI).5. The visionary Too focused on dreams with little focused on reality. 1. EX Jack Welch (GE), Bill Gates (Microsoft), Kishore Biyani (Future Group), Warren Buffet (Berkshire Hathaway), Sam Walton (Wall Mart). 6. The analyst More focused on fixing problems in a systematic way. 1. EX Gordon Hore (Intel), Rana Kapur (Yes Bank), Gautam Adani (Adani Groups) 7. The fireball A business owned and operated by a fireball is full of life, energy and optimism. They have A get it done attitude in a playful manner. 1. EX Malcolm Forbes Forbes magazine8. The hero Have an incredible will and ability to lead the world and your business through and through challenges. 9. The healer They provide nurturing harmony to their business, they have uncanny abilities to survive and persists inner calm. 1. EX Dr. Bindeshwar Pathak (Sulabh International), Kumar Man glam Birla (Son of L.M Birla). 1. The Opportunistic take advantage of opportunities as they occur. 1. EX Mark Zuckerberg theoretical TypologiesRecent advances in entrepreneur researcher indicate that the differences in entrepreneurs and the heterogeneity in their behaviors and actions can be traced back to their the founders identity. For instance, Fauchart and Gruber (2011) have deep utilized social identity theory to illustrate that entrepreneurs can be distinguished in three main types Darwinians, Communitarians and Missionaries. These types of founders not only diverge in fundamental ways in terms of their self-views and their social motivations in entrepreneurship, but also engage fairly differently in new firm creation.