ECONIMIC THEORIES OF ENTREPRENEURSHIP ASSESSMENT 2022

Running head: ENTPRENEURSHIP
Entrepreneurship
Name of the Student
Name of the University
Author Note

ENTREPRENEURSHIP1
Executive Summary
Entrepreneurship is a diverse and dynamic activity that requires a person to be bold, adventurous,
innovative and driven in nature. All entrepreneurs around the world are known to have one trait
in common and that is the desire and the need to achieve and to be successful in whatever it is
that they do. Entrepreneurship as such is a unique activity, which not all people are capable of,
but only those who have the drive and the will to meet the challenges that accompany this
activity. This assignment compares the personality traits of an entrepreneur who was interviewed
for this assignment, with the economic and psychological theories of entrepreneurship. The
report concludes with a number of effective recommendations for better entrepreneurship.

ENTREPRENEURSHIP2
Table of Contents
Introduction......................................................................................................................................3
1. Economic and Psychological Theories of Entrepreneurship – A Brief Overview...................4
1.1. Economic Theories of Entrepreneurship...........................................................................4
1.2. Psychological Theories of Entrepreneurship....................................................................4
2. Comparing the Personality Traits of the Entrepreneur who was interviewed with Economic
and Psychological Theories of Entrepreneurship............................................................................5
Conclusions and Recommendations................................................................................................8
References......................................................................................................................................10
Appendix........................................................................................................................................12

ENTREPRENEURSHIP3
Introduction
Entrepreneurship refers to the process by which a new business, usually a small business,
is designed, launched and operated. It is often described as the willingness and capacity to
organize, develop and manage business ventures along with the risks that accompany such a
business venture for the purpose of making profit (Kuratoko 2016). Most definitions of
entrepreneurship are known to focus on launching and running business operations, but a broader
definition of the same is at times utilized in the domain of scholarship, particularly in fields of
study such as economic theory. The entrepreneur in the economic sense of the term is an
individual who has the capacity of locating and acting upon opportunities and resources for
translating technologies and inventions into services and products (Mckenny et al. 2017). This
assignment prepares a report that compares entrepreneurship theory with the personality traits of
a specific individual entrepreneur who was interviewed in detail for this assignment. Some of the
theories of entrepreneurship that are made use of for the purpose of comparison and analysis are
the economic theories of entrepreneurship and the psychological theories of entrepreneurship,
both of which are discussed in detailed prior to being compared and analyzed with the
personality traits of the entrepreneur interviewed.