Reflective Essay

Topics: Entrepreneurship, Entrepreneur, Factors of production Pages: 3 (1066 words) Published: November 20, 2014
Enterprise and Business Development
BABS Year 2
21023656

Reflective Essay
With reference to appropriate academic sources compare and contrast your own personality and characteristics to those found in entrepreneurs.

I became interested earlier on my life in entrepreneurship when I started up a new boutique back in my home country Sudan, selling ladies Fashions that was imported from various countries including Turkey, Lebanon and Egypt, I was very interested in the way Egyptians friends started this business while we were studying at college and the two friends eventually left college after the first year of study to work full time for them self. Which made me think of doing the same, I have looked at the question what distinguish a successful entrepreneur, from other people, I think there are common traits that all entrepreneur shares!? In this paper I will attempt to answer this question.

There is no set or agreed definition to entrepreneurship and entrepreneur, but I agree with Norman M Scarborough definition in his book Effective small business management 9th Edition. “An entrepreneur is one who creates a new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying opportunities and assembling the necessary resources to capitalize on those opportunities. Entrepreneur usually starts with nothing more than an idea.”

Many writers suggest that the most important factor stimulating entrepreneurship is a need for autonomy. According to psychological self-determination theory, autonomy leads to well-being and acts as a compensator for higher earnings offered by less independent positions (Calliendo and Kritikos, 2011). With regard to my personal score of 5 out of maximum 6 , In the test, a result suggest that it is true that I don’t like doing conventional things and prefer working alone, also I have a tendency to express what I think, and dislike taking orders, also I do...
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