In English, it is the term applied to person who is willing to launch a new venture or enterprise and accept full response for the outcome. In 19th century, Jean Baptiste Say defined entrepreneur is one who undertakes an enterprise, especially a contractor, acting as intermediate between capitals and labour.
Leadership attributes
For successful entrepreneurs, management skills and strong team building abilities are essential leadership qualities. An entrepreneur may perceive that they are among the few to recognise or be able to solve a problem. Joseph Schumpeter saw the entrepreneur as innovators.
Influences, personality traits and characteristics
Workplace peers and the social composition of the workforce have significant influence on an individual's decision to become an entrepreneur. An entrepreneur acts as a catalyst for economic change. Certain traits are required, entrepreneurial behaviours are dynamic and influenced by environmental factors. Perceived gender differences may be due to more gender stereotyping. Empirical studies suggest that women entrepreneurs possess strong negotiating skills and consensus forming abilities.
Types of entrepreneurship
Social entrepreneur is driven by an emotional desire to address some of the big social and economic conditions in the world, for example, poverty and education deprivation. Their aim is to offer a better service improving the community as a whole.
Serial entrepreneur is one who continuously comes up with new ideas and starts new businesses. Serial entrepreneur are more likely to experience repeated entrepreneurial success and to take risks and recover from business failures.
Lifestyle entrepreneur, when launching a business he places passion before profit in order to combine personal interests and talent with the ability to earn a living. Lifestyle entrepreneur may combine a hobby with a profession or they may specifically decide not to expand their business in order to remain in control of their venture.Startup is a company that has limited operating history and in the phase of research and development. A high tech startup company is a startup company specialized in high tech industry. Investors are interested in those companies that are renowned due to its risk/reward profile. That has lower bootstrapping costs, higher risk and higher potential risk on investment. They are more growing in smaller resources, land and investment than the larger business.Startup companies are funded by angel investors, venture capital firms and by founder themselves. The most important task is to conduct research in order to validate, assess and develop the ideas and concepts of business to obtain greater understanding of business and market, find opportunities and exploit them. For technological companies it is very important to obtain intellectual property protection for their ideas as early as possible. When a company focuses on profitability, becoming publicly traded in an IPO, not able to exist independently or merger /acquisition take place. The patent assets of these failed companies have been purchased and used by others.Startupers are those involved in the cultivation of high tech startup companies.Starupers are entrepreneurs, hackers, web designers, venture capitalist and others involved in the ground level of a new high tech venture.