Entrepreneurship Development Article 2022

Running head: ENTREPRENEURSHIP DEVELOPMENT
ENTREPRENEURSHIP DEVELOPMENT
Name of Student
Name of University
Author Note

ENTREPRENEURSHIP DEVELOPMENT1
Executive Summary
The objective of this research paper is to identify as well as understand the important
characteristics required for being a successful entrepreneur and to analyse the entrepreneurial
process, the role of entrepreneurs and entrepreneurial consequences. Entrepreneurship is the
foundation for creation of any business and is responsible for creation of wealth opportunity,
improvement and bringing change to life. The entrepreneurs must have some inevitable traits
and roles to execute for achieving success, which are discussed in this paper. After
conducting the study it can be concluded that the success of entrepreneurship requires more
than only starting a new business.

ENTREPRENEURSHIP DEVELOPMENT2
Table of Contents
Introduction................................................................................................................................3
Discussion..................................................................................................................................3
Entrepreneurial Traits:...........................................................................................................3
Limitations of Trait Analysis:................................................................................................5
Other Important Factors Required for Success of New Venture:..........................................6
Conclusion..................................................................................................................................8
References..................................................................................................................................9

ENTREPRENEURSHIP DEVELOPMENT3
Introduction
Entrepreneurship is the quality, ability and the willingness to introduce, develop,
organize, manage and run a business venture (Eisenmann 2013). Entrepreneurship is
important to ensure innovation, creation of wealth, opportunities for not only the
entrepreneurs but also for people and other business (Bullough, Renko and Myatt 2014).
Entrepreneur is the person with the ability of producing innovate new ideas, identifying
opportunities, build and manage team. In this study Mark Zuckerberg, the co-founder as well
as the CEO and Chairman of Facebook is selected for analysing the important required
characteristics of the entrepreneurs for getting success in business (Hoffmann, Proferes and
Zimmer 2018). In the next section of the paper, the important traits that entrepreneurs should
possess are discussed with respect to Mr Mark Zuckerberg. Then the limitations of the
approach of trait analysis for understanding the entrepreneurship and its behaviour are stated.
At the last section of the narration, many other important factors required for initiating and
growing the successful business ventures.
Discussion
Entrepreneurs or the successful businesspersons generally have some certain
characteristics in common. Some of the required traits that the entrepreneurs must possess to
achieve their goals are discussed below.
Entrepreneurial Traits:
Multidimensional nature and characteristics of entrepreneurs leads towards a variety
of approaches for measuring the entrepreneurship. Entrepreneurial trait analysis is one of
those approaches where the primary focus is on the behavioural aspects, the differences in
entrepreneurial characteristics existing in different traditional and social entrepreneurs