Entrepreneurs are born and made

Topics: Entrepreneur, Entrepreneurship, Joseph Schumpeter Pages: 3 (1402 words) Published: May 18, 2014
QUARTEY ISAAC
01125369D
HND ACCOUNTANCY 2 PART TIME
MAY 18, 2014.
ASSIGNMENT

ENTREPRENEURS ARE BORN AND MADE
There are two sides to every debate, and the "what makes an entrepreneur" argument has raged for decades with neither side able to conclusively prove their case. There are many who believe that an entrepreneur must possess personality traits such as vision, passion and drive that are innate and cannot be taught. Others argue that the skills of evaluating opportunities, motivating people and operating a business are easily passed on to eager students looking to be entrepreneurs. The truth is that both sides are right and it's time for a compromise: Entrepreneurs are born and made. Some people may be natural entrepreneurs and immediately open a business, others will have studied and trained long and hard before doing so, and while each may enjoy some success, neither will be as successful as the person who possesses the inherent qualities and has spent the time to get the education and experience of the business world. A lot of studies and research have been done on this particular matter. In the beginning many theorists believe that people are either born entrepreneur or they are not. Professor of Psychology Alan Jacobowitz, after conducting interviews to more than 500 entrepreneurs in a period of 3 years, concludes that entrepreneurs are born not made. He maintains that his subjects share common characteristics, which include: restlessness, independence, a tendency to be a loner, and extreme self confidence. Still, other researchers maintain that there are other personality characteristics that are uniquely entrepreneurial including being innovative, action oriented, high on need for personal control and highly autonomous.

In addition to this, Jacobowitz also devised a chronological schema of entrepreneurial indicator that he calls the five ages of entrepreneur. The ages are early childhood exposure, trouble in school, problems with work,...
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