The entrepreneurial spirit is usually hard to define let alone examine in more detail simply because of its perception as being a highly creative and dynamic entity and it is with this particular caveat that this article is written.
Whilst the entrepreneurial spirit does apply to an array of entrepreneurship it can be perhaps most closely related to the field of business and incorrectly utilized to describe many successful business people, if in fact very few individuals can truly demonstrate an entrepreneurial spirit.
The term is French in origin and in case interpreted within its literal context means “between jobs”. It can be interesting that a word containing come to project the really pinnacle of success needs to have such mundane roots as a method of describing being unemployed.
This article examines numerous concepts that appear intrinsic from what constitutes entrepreneurial spirit
Inside a highly developed global business community where new ideas and business models are increasingly to put it briefly supply the value of uniqueness cannot be under estimated and the ones exhibiting an entrepreneurial spirit are frequently linked to concepts that encapsulate originality and ingenuity. For example take, Steve Jobs bringing the Apple IPOD for the market,
Creativity is heavily connected to uniqueness however the two are not identical. Those that have an entrepreneurial spirit are experienced at harnessing the creative process to enable them to create a unique product /service or advantage. Where as uniqueness describes the end outcome, creativity describes the procedure of how one achieves it. For that reason those that have an entrepreneurial spirit are frequently creative people who are ready, willing capable to actively adopt new strategies to prosper even at the fee for being ridiculed by others.
In a western society that is frequently risk averse, those that have entrepreneurial spirit embrace risk taking and is particularly impossible for such a concept to not be connected with entrepreneurs as well as the often dangerous potential involved in following a new cutting edge approach. It needs to be observed however that risk is not just like recklessness and others demonstrating an entrepreneurial spirit are likely to be good at assessing the potential risks associated with any undertaking.
As highlighted previously individuals with entrepreneurship should not be considered as reckless mavericks indeed quite the opposite, good entrepreneurs are motivated by profit and they are skilled at identifying a lucrative niche available in the market that can be exploited for profit. Take for example, Steve Jobs at Apple Computers who may have successfully navigated a profitable course in the computing and software industry despite the market being dominated by Microsoft and IBM for many decades. In addition he was the first one to spot the possibility of utilising the computing industry to start a fresh market for the music fraternity , with the roll-out of the IPOD, the industry leader in their business stream. Such actions requires great skill and confidence and demonstrate a precise entrepreneurial spirit.
Identifying, Investing in and nurturing potential can also be necessary to the ideals attached associated with entrepreneurial spirit as a result of are looking for differing strategies to a business problem.
Established businesses often fail to discover breakthroughs mainly because they stay with a rigid investment formula which includes worked to them previously as an alternative to finding new means of moving forward.
The entrepreneurial spirit is obviously adaptable and able to overcome barriers presented by business problems and it is usually quicker at resolving those issues than mainstream business thinkers.
Entrepreneurial spirit is ultimately destructive to the own business from the medium term unless those engaged in using the concept recognize when it is time to handover to mainstream management focussed individuals who can maintain and develop the organisation. This is because true entrepreneurial spirit is obsessed with simoarias creativity and alter which happens to be unsettling to employees without good management and a clear direction. Many of those demonstrating entrepreneurial spirit rarely stay long lasting in any enterprise they undertake, take Richard Branson for example who after launching numerous businesses underneath the “Virgin” brand has subsequently in love with many of these to third parties in a huge profit to himself.
To summarize whilst you can find certainly key characteristics which encapsulate the entrepreneurial spirit it would be foolish to pretend that any one individual has all those traits and many more foolish to believe that this type of concept might be comprehensively defined. It is additionally short sighted to believe those with entrepreneurial spirit are just evident within the read more, indeed many different disciplines and vocations have historical and existing individuals contained within them which can be essentially referred to as entrepreneurs.
Well-known individuals exhibiting the entrepreneurial spirit: Richard Branson, Clive Sinclair, Freddy Laker, Steve Jobs, Bill Gates and Anita Roddic-k.
Words often used to describe people with entrepreneurial spirit : Mavericks, Tycoons, pathological liars, risk takers, self made business owners, successful, charismatic.