Essay on entrepreneurship

The main purpose of writing this essay is to explain how a person can be a successful entrepreneur and what makes him successful. In my essay I will study and understand entrepreneur focus on characteristic, behavior and capability by using economical, sociological and psychological theories. The five entrepreneurs that I am going to study are as follows: 1) Mr.. Diarrhea Mambas founder of reliance group and also known as business tycoon of India. ) Mr.. Mark Seersucker well know computer programmer, Internet entrepreneur and co-founder of the social networking website Backbone. 3) Mr.. John Tu co- founder of Kingston technology 4) Mr.. Sam Walton founder of retail chain Wall-Mart. 5) Mr.. Jeff Bozos founder and chief executive Of Amazon-com. The first question arises what you mean by entrepreneur? There are no of definition given by numerous authors like David dad states that ‘an entrepreneur is a fixed identity.

For example definition includes a person who creates organization enterprising person (Gibbs,1 987),and the errors who recognizes and acts to exploit an opportunity(shank and Buenaventura,2000: Stevenson and carillon, 1990)’ , but according to me an entrepreneur is a person who has a capability of taking risk ,he is self- employed and as an ability to starts a new business or innovate an existing business with the development of new product. He is a person who generates job in the country, contributes to the economy of a country and helps in the development Of a new industry.

To begin with the first entrepreneur would like to give a short introduction of Mr.. Diarrhea Ambit’s life, when and how he started his business and how he became a successful entrepreneur. Diarrhea Mambas was born on 28th December 1932 in a small town of Gujarat named chorded. He started selling phobias in the weekend and then at the age of 16 he worked as attendant in an oil company in Aden, Yemen . In 1958 he returned to India and started his own business in spices. In the same year after earning modest profit he set up a new textile firm with his second cousin and in the year 1966 he named the firm in the public as reliance industries.

The major three characteristic of Diarrhea Mambas made him different from his competitors. He had an exceptional risk taking capacity, he was a managed risk taker this can be illustrated when in the year 1 965 his second cousin ended the partnership with him as he was building yarn inventories and anticipating price rise to earn high profits. Secondly he was proactive in nature, he was always ready to react on the government policy and manage his firm according to the government regulation and this intend help in the development Of

Diarrhea and his organization. Thirdly he was a self-confident in nature, he had an ability to start a business, he knew to face the uncertainty in the business and was confident about the future, as like many entrepreneur are not so confident enough to start a business. Diarrhea Mambas had a motivational behavior, as he took his business as his career and he even had a very small family background . He also had pioneering innovative motive where he had achieved his path by completing different task.