Up to now the role of entrepreneurship and entrepreneurial culture in economic and social development has been diluted. Nevertheless, over the years it has become obvious that entrepreneurship has grown in importance and that it indeed contributes to economic well being. Converting ideas into successful economic opportunities is the main essence of entrepreneurship. If we cast an eye over the past, the economic momentum has been substantially advanced by pragmatic individuals who are creative and innovative, able to utilize opportunities and willing to take risks.
Whatever the definition of entrepreneurship, it is associated with creativity, literacy, innovation and change that are in turn vital for competitiveness in the wake of increasing globalization. Therefore preparing successful entrepreneurship means advancing the competitiveness of a business. SME and entrepreneurship development are two very important factors in reducing the poverty of any country. For many countries SME is the backbone of their economy.
In the wake of rising importance of entrepreneurship, various disputes over it, have increased. One such dispute is weather the entrepreneurs are born or made. The primary objective of this work is to compare and contrast the two schools of thought and based on the research make a reasonable conclusion.
Entrepreneurs: born or made?
Firstly it is worth to identify what actually entrepreneurship is. Generally talking, there are many definitions of entrepreneurship. Many authors are still struggling with relevant definition. Many recognize three important themes deriving from various definitions – namely, that entrepreneurship involves risk and uncertainty, managerial competence and creativity. According to Kent (1990) ‘entrepreneurship is drawing from a wide range of skills capable of enhancement to add value to a targeted niche of human activity. The effort expended in finding and implementing such opportunities is rewarded... [continues]
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