Entrepreneurs are a very, or perhaps the most, important boost in our economy. An online article by Bryan Tracy, believes that in order for a country or civilization to be successful, they need to inject entrepreneurial “activities” into their culture and economy in order for them to accomplish financial and security stability. In this research I would try to define entrepreneurship and perhaps establish a better understanding of whom an entrepreneur really is and what they do to keep our economy working. I would also discuss the impact and importance entrepreneurs have on our society. Entrepreneurship is not an easy field to understand and master. One of the obstacles top universities face today is accepting the fact that teaching students with real life experiences is more valuable rather than just preparing them with business administration courses. I will use this research to deeply analyze the lack of good entrepreneurial courses in most colleges.
Entrepreneurship: Their Importance and Characteristics
Over the last decade, entrepreneurship has risen and changed the rules of business. Entrepreneurship is a field that doesn’t necessarily require all entrepreneurs to have the same level of education; perhaps they don’t need to be geniuses or have a brilliant idea in order to make a “profitable” business (Praag and Versloot 2007). Unfortunately, people assume that entrepreneurs need to be born in a wealthy family, or are around money all their lives in order to be recognized as a successful entrepreneur. Whenever I have the chance to ask anyone about entrepreneurship, they immediately assume that it is just about being a business owner. It is true that entrepreneurial activity around the country is mainly focused on small business. We have hundreds of people opening their own restaurants and becoming part of a franchise, which is still considered entrepreneurial. However, despite this stereotype, people do not realize the real meaning behind and values of an entrepreneur. A successful entrepreneur is a person who knows how to prioritize and creates simple goals and objectives. In addition, an entrepreneur is more than just a person who sees opportunity for business, they see a journey.
First, entrepreneurs play a very important role in our economy because they create opportunities for employment, wealth, and culture. Entrepreneurial activity employs more than 53% of the private market, and the number increases every year (Kuratko). The amount of wealth entrepreneurs are generating also is increasing and in large amounts. This is due to the fact that many Americans are now turning more to local business. In addition, an entrepreneur quickly adapts to any change in culture. The reason why they have to be alert to any cultural change is because entrepreneurs need to keep selling and making business so they can keep their business running smoothly, and most importantly keep their profit earnings high. Being an entrepreneur can be stressful but...