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Muscat, Jan 24 (ONA) Assigned by His Majesty Sultan Qaboos Bin Said, Mohammed bin Al Zubair, Advisor to His Majesty the Sultan for Economic Planning Affairs will sponsor, the day after-tomorrow (Tuesday) the announcement of winners of the 2nd version of the Entrepreneurship Award 2015 in its three main categories, namely Entrepreneurship Award, Small and Medium Enterprises (SMEs) Entrepreneurship Award and Entrepreneurship Supporters Award.
Entrepreneurs may also be driven to entrepreneurship by past experiences. If they have faced multiple work stoppages or have been unemployed in the past, the probability of them becoming an entrepreneur increases Per Cattell's personality framework, both personality traits and attitudes are thoroughly investigated by psychologists. However, in case of entrepreneurship research these notions are employed by academics too, but vaguely. According to Cattell, personality is a system that is related to the environment and further adds that the system seeks explanation to the complex transactions conducted by both—traits and attitudes. This is because both of them bring about change and growth in a person. Personality is that which informs what an individual will do when faced with a given situation. A person's response is triggered by his/her personality and the situation that is faced.
"Entrepreneurs and business owners definitely need to get used to taking risks … You have to get comfortable being uncomfortable. Trying to grow a company or execute on an idea is difficult. It's not always going to be roses and unicorns. At some point, you're going to run into issues, lose customers and have financial constraints. It's at this point you need to get back on the horse and take another risk, whether it's in the form of a new product, new marketing campaign or a new customer recruitment strategy." – Mathew Ross, co-founder and COO of Slumber Yard
Entrepreneurs are leaders willing to take risk and exercise initiative, taking advantage of market opportunities by planning, organizing and deploying resources, often by innovating to create new or improving existing products or services. In the 2000s, the term "entrepreneurship" has been extended to include a specific mindset resulting in entrepreneurial initiatives, e.g. in the form of social entrepreneurship, political entrepreneurship or knowledge entrepreneurship.
^ Laureiro-Martínez, Daniella; Canessa, Nicola; Brusoni, Stefano; Zollo, Maurizio; Hare, Todd; Alemanno, Federica; Cappa, Stefano F. (22 January 2014). "Frontopolar cortex and decision-making efficiency: comparing brain activity of experts with different professional background during an exploration-exploitation task". Frontiers in Human Neuroscience. 7: 927. doi:10.3389/fnhum.2013.00927. PMC 3897871. PMID 24478664.
Flexibility – Not everyone fits into the rigidity of a traditional corporate culture. Entrepreneurs are often looking to free themselves from these constraints, find a better work-life balance, or work at times and in ways that may be unconventional. This doesn't mean they are working fewer hours – oftentimes, especially in the early stages of growing a business, they are working longer and harder – but, rather, that they're working in a way that is natural and instinctual to them.
The majority of scholarly research done on these topics have been from North America. Words like "leadership" and "entrepreneurship" do not always translate well into other cultures and languages. For example, in North America a leader is often thought to be charismatic, but German culture frowns on such charisma due to the charisma of Nazi leader Adolf Hitler. Other cultures, like some European countries, view the term "leader" negatively, like the French. The participative leadership style that is encouraged in the United States is considered disrespectful in many other parts of the world due to the differences in power distance. Many Asian and Middle Eastern countries do not have "open door" policies for subordinates and would never informally approach their managers/bosses. For countries like that, an authoritarian approach to management and leadership is more customary.
Leadership in entrepreneurship can be defined as "process of social influence in which one person can enlist the aid and support of others in the accomplishment of a common task" in "one who undertakes innovations, finance and business acumen in an effort to transform innovations into economic goods". This refers to not only the act of entrepreneurship as managing or starting a business, but how one manages to do so by these social processes, or leadership skills. Entrepreneurship in itself can be defined as "the process by which individuals, teams, or organizations identify and pursue entrepreneurial opportunities without being immediately constrained by the resources they currently control". An entrepreneur typically has a mindset that seeks out potential opportunities during uncertain times. An entrepreneur must have leadership skills or qualities to see potential opportunities and act upon them. At the core, an entrepreneur is a decision maker. Such decisions often affect an organization as a whole, which is representative of their leadership amongst the organization.
Research on high-risk settings such as oil platforms, investment banking, medical surgery, aircraft piloting and nuclear power plants has related distrust to failure avoidance. When non-routine strategies are needed, distrusting persons perform better while when routine strategies are needed trusting persons perform better. This research was extended to entrepreneurial firms by Gudmundsson and Lechner. They argued that in entrepreneurial firms the threat of failure is ever present resembling non-routine situations in high-risk settings. They found that the firms of distrusting entrepreneurs were more likely to survive than the firms of optimistic or overconfident entrepreneurs. The reasons were that distrusting entrepreneurs would emphasize failure avoidance through sensible task selection and more analysis. Kets de Vries has pointed out that distrusting entrepreneurs are more alert about their external environment. He concluded that distrusting entrepreneurs are less likely to discount negative events and are more likely to engage control mechanisms. Similarly, Gudmundsson and Lechner found that distrust leads to higher precaution and therefore increases chances of entrepreneurial firm survival.
"At its core, [entrepreneurship] is a mindset – a way of thinking and acting. It is about imagining new ways to solve problems and create value. Fundamentally, entrepreneurship is about ... the ability to recognize [and] methodically analyze [an] opportunity and, ultimately, to capture [its] value." – Bruce Bachenheimer, clinical professor of management and executive director of the Entrepreneurship Lab at Pace University
Because smartphones are everywhere, the demand for new and creative apps is increasing in popularity more than ever before. Between Google’s Android and Apple’s iPhone market, people are using countless apps everyday. And, most of them are selling right and left. Taking the time to develop and sell a smartphone app may be worth your while since it’s a very lucrative way to earn money online. The apps cost almost nothing to actually develop and don’t involve any shipping or storage costs, which works to expand your overall profit margin. Well performing apps can make thousands in ad revenue each month for their creators, making them another great passive income strategy.
Entrepreneurship is one of the resources economists categorize as integral to production, the other three being land/natural resources, labor and capital. An entrepreneur combines the first three of these to manufacture goods or provide services. They typically create a business plan, hire labor, acquire resources and financing, and provide leadership and management for the business.
The road to entrepreneurship is often a treacherous one filled with unexpected detours, roadblocks and dead ends. There are lots of sleepless nights, plans that don't work out, funding that doesn't come through and customers that never materialize. It can be so challenging to launch a business that it may make you wonder why anyone willingly sets out on such a path.
Economist Joseph Schumpeter (1883–1950) saw the role of the entrepreneur in the economy as "creative destruction" – launching innovations that simultaneously destroy old industries while ushering in new industries and approaches. For Schumpeter, the changes and "dynamic disequilibrium brought on by the innovating entrepreneur [were] the norm of a healthy economy". While entrepreneurship is often associated with new, small, for-profit start-ups, entrepreneurial behavior can be seen in small-, medium- and large-sized firms, new and established firms and in for-profit and not-for-profit organizations, including voluntary-sector groups, charitable organizations and government.
Nice post but while it sounds good in theory, faith based businesses don’t work well. My first passion as a Christian who loves tech was to create a business that would serve the community. I started from an events platform to an online radio station. I did this because I identified gaps in the market. There wasn’t any doubt that it would meet a need. However, most people wanted to use the services for free. Had many who came for what they could get and then left when they were asked to pay. They seem happy to pay with a “God will bless you”. However after many God bless you, there were no money to keep things afloat and they fail miserably.
Former heavyweight boxer George Foreman became an ordained minister after a religious experience in 1977 and continues to share his religious experiences in the media and on Christian television today. George Foreman Cooking http://www.georgeforemancooking.com/ has grown from the George Foreman Grill into other products, including cookbooks, home and car cleaning products, vitamins and supplements, and personal care products.
Core values- Values such as integrity, honesty and the pursuit of professional excellence are a reflection of an individual's self image, created by their religious beliefs, their family experience and life lessons. We have found that people with similar values work well together, work harder, teach each other, hold each other accountable and deliver a work product that serves the client well.
"Being an entrepreneur is like heading into uncharted territory. It's rarely obvious what to do next, and you have to rely on yourself a lot when you run into problems. There are many days when you feel like things will never work out and you're operating at a loss for endless months. You have to be able to stomach the roller coaster of emotions that comes with striking out on your own." – Amanda Austin, founder and president of Little Shop of Miniatures
Outreach of World-Wide Missions seeking to assist donors in making wise and productive choices in their charitable giving. With over 60 years of experience and numerous projects options available, AAACIF’s intention is to link donors with opportunities to “invest” in programs and causes that bring positive change to human lives. AAA Charity Investment Fund was formerly known as Emergency Relief Response Fund.
Differences in entrepreneurial organizations often partially reflect their founders' heterogenous identities. Fauchart and Gruber have classified entrepreneurs into three main types: Darwinians, communitarians and missionaries. These types of entrepreneurs diverge in fundamental ways in their self-views, social motivations and patterns of new firm creation.
If you know the ins and outs of search engines and have technical skills in platforms like Google Ads and Google Analytics, becoming an SEO consultant can be a lucrative option for you. Many small business owners don't realize how much of an impact search engine optimization (SEO) can have on their business. Start your online consulting business by educating those business owners on the power of SEO to help transform their websites and increase their conversion rates.