The external factors include culture, role models, work experience, education, and environment. It is important to look at all of these factors and their influence on entrepreneurial behaviour. The relationship between the entrepreneur, personality characteristics, values, and other dimensions helps explain why some become entrepreneurs and others do not.
Entrepreneurship is often difficult and tricky, as many new ventures fail. In the context of the creation of for-profit enterprises, entrepreneur is often synonymous with founder. Most commonly, the term entrepreneur applies to someone who creates value by offering a product or service in order to obtain certain profit. While there is social entrepreneurship in most markets, business entrepreneurs often have strong beliefs about a market opportunity and are willing to accept a high level of personal, professional or financial risk to pursue that opportunity. Business entrepreneurs are viewed as fundamentally important in the capitalistic society. Some distinguish business entrepreneurs as either "political entrepreneurs" or "market entrepreneurs." There is also the concept of social entrepreneurship.
Since the beginning of the history, people have been interested in studying the nature of entrepr ...Show more