Entrepreneurship

Recently in business class, we learned what an entrepreneur is and the attributes and attitudes that would help entrepreneurs succeed. First an entrepreneur is a person who sets up a person and takes risks in order to hopefully gain profit from that business. Normally entrepreneurs are driven because they want to innovate products or they want to be free and work for themselves or they want to have the need of achieving something. We learnt that being an entrepreneur requires attitudes that not everyone is comfortable. For example, entrepreneurs need to be perseverant and not to give up so that when they fail, they can be positive and try to figure out why they failed and restart their business and learn from the failures. Another attitude they need is ambiguity which means making decisions and being comfortable with unknown situations. For example, when going to an industry or market, entrepreneurs tend to have no market research done or tend not to have a clear picture of the industry they are going to. That’s why this attitude is important so they are comfortable of taking risk. There are a whole lot of other attitudes and attributes that entrepreneurs need in order to increase their chance of being successful. This helps me understand the statement of inquiry(SOI) better which is Understand that entrepreneurs must innovate in order to remain competitive over time, I learnt that entrepreneurs need to bring something new to the market, to introduce change so that clients/consumers can be attracted to the new change and hopefully, clients would like the change and that would introduce a monopoly to the entrepreneur. This helps me understand the SOI because in the SOI, it says entrepreneurs must innovate, which is directly related to the SOI because it clearly says entrepreneurs need to make somethings change. This also relates the global context which is orientation in space and time because over time, entrepreneurs gain ideas from ideas which is innovation and the innovation that one entrepreneur got can be innovated from another entrepreneur and that overtime, the market can change dramatically because of innovations drawn from entrepreneurs. Our inquiry questions are “Are the traits that are needed  to be successful as an entrepreneur always the same?” After learning about entrepreneurs, I think that the traits thats are needed to be successful as an entrepreneur would not change, because I think the traits used in the past centuries still apply the same attitudes. For example, creativity, perseverance would still be applied in the 1900s except the technology was different. Entrepreneurs would innovate from past ideas like the steam engine and invent something like the car. Or from the radio to the television. So I think the traits used to be a successful entrepreneur still stayed the same. I think that this helped me understand previous context like innovation and invention because entrepreneurs need to have new ideas which is innovation and that inventions are harder to come up with and harder to be successful at for becoming a profit because innovation is that there is already a market and that if it was successful, you would innovate because the entrepreneur sees how well businesses are doing but inventions could be a new area in the market and that more risks are needed but if it is successful, it would gain a whole monopoly if clients like the new invention.  An example of entrepreneurship is all these big companies. One example is Steve Jobs, he started as an entrepreneur and that he innovated the smartphone to create the iPod and iPhone which was his biggest success. Screen Shot 2015-09-30 at 8.49.12 am

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