Entrepreneurs Are Playing An Important Role In Global Economy Business Essay
|✅ Paper Type: Free Essay||✅ Subject: Business|
|✅ Wordcount: 1788 words||✅ Published: 1st Jan 2015|
So, we can see that the contribution of entrepreneurs to the countries is extremely valuable. From there, the controversy of the origin of the entrepreneurs is more and more acute.
Entrepreneurship is central to the functioning of market economies. Entrepreneurs are agents of change and growth in a market economy and they can act to accelerate the generation, dissemination and application of innovative ideas.
Entrepreneurs are playing an important role in global economy. To micro aspect, many people recognize that importance of entrepreneurs with their country. Entrepreneurial origin is being debated because of its impact on economy, commerce, and life. Therefore, it has longstanding debate that ”are entrepreneurs are born or made?”. In other word, one person will be an entrepreneur by nature, innate desires or by nurture, training skills. It seems to be a chicken and egg question. However, there are always many different viewpoints in a controversy. This question is longstanding debate. It looks like ”chicken and egg” question that does not have right or wrong states. It depends on how people’s viewpoints and beliefs to answer these. So, this critical essay will discuss those viewpoints at multi- dimensional angles.
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There have many reasons and points of view to believe in that entrepreneurs are born with entrepreneurial characteristics without nurture, education and training. Firstly, entrepreneurs are individuals who have innate desires, natures, personally traits to become an entrepreneur. According to a survey by Northeastern University’s School of Technological Entrepreneurship: ”Two-thirds of entrepreneurs claim they were inspired by innate desire, not education or training” (Leslie Taylor, 2006). This proved that most of entrepreneurs who did not need nurture to become successful entrepreneurs. In this survey, there were only one percent of more than two hundreds US entrepreneurs who have a high education that as a motivator to help them start their venture. Majority of surveyed entrepreneurs said their innate, talents that drive them to be entrepreneurs. Again, from realistic surveys of Northeastern University, it is also prove that academic knowledge from institutions is not enough to help students become entrepreneurs and most of surveyed entrepreneurs are born with their innate. Secondly, entrepreneurs are born to make them designed from the job, not training to become someone. It means they are not get much any training and educating from their school. They do not have any special knowledge in their industry. They left school at very young ages. For examples, Alan Sugar, a British business magnate, is good example for this. He left secondary school and started his venture at 16 years old. Now, he is owner of big electrical products corporation in United Kingdom. Furthermore, Dr Farrah Gray, a young US millionaire, he was born in very poor family in US. He started his venture at age 6 without any education. He became a US millionaire, an entrepreneur and a philanthropist by age 14 that others maybe cannot act as him as well. He found many organizations that contribute social community activities. This proved that Dr Farrah was born to become a boss, a philanthropist who contributes for society. Thirdly, there are opposite views that entrepreneurs are made, not born. It means anyone become an entrepreneur, it is does not make sense. Everybody can be taught knowledge to become expert in their fields. However, people want to become an entrepreneur that not much people can do that. If people do not have gifts, DNA, mindset and passion that support them to be entrepreneur, they cannot become successful entrepreneurs. Reality, most of famous successful entrepreneurs in the world, they have those factors to achieve their success. It will be more right, if everyone who want to become entrepreneur, they risk their money to practice that and they are just got more debts. It is very few individuals can make wealth by taking risk. It will be proved that ”entrepreneurs with a history of success are much more likely to succeed in new ventures than first-timers or those who failed previously, new research from Harvard Business School” (Sarah, 2009). This research does not encourage people take risk to be succeeded.
On the other hand, some people argue that one person is to be an entrepreneur because of training and teaching. It means entrepreneurs are made, not born. Globalization has impacted on global economy. An entrepreneur needs to be trained and educated to get new skills for adaption with changes. Someone said: ”Entrepreneurs are born, not made”. It seems to be out of dated in this century. In some research, formation of potential entrepreneurs through education and entrepreneurial training can help economic growth (Hatten & Ruhland, 1995). Entrepreneurship’s characteristics are to changing the world, creating new products or services, helping global economic growth. Technological science has changing so fast. Entrepreneurs need to be trained technical and personal entrepreneurial skills to adapt those changes (Hisrich and Peters,
1998). So, training and educating are necessary factors that required entrepreneurs should work on them for changing global trends. Besides that, entrepreneurship education and training that improve ability to see commercial opportunities. Throughout those, entrepreneurs will create new products and services to serve consumers. There have some famous successful entrepreneurs in the world such as, Michael Dell who left school when he was at age 19 and used just $1000 to started a company to sell computers. His company is now one of the top computer makers in the world. Another person, Bill Gate, who was also got low educated and then he became owner of the world’s largest software company and one of US millionaires. Those are truth, however, that is small numbers of thousands or millions of entrepreneurs. Others need to be trained and educated for getting the right business knowledge. According Donald Trump, US business magnate said: ” I spent 50% studying and 50% partying at Wharton Business school”. Moreover, currently, most of universities and colleges offer business degrees that not only taught on business modules, but also offer entrepreneurship modules for students. Those are trends that educators, trainers, professors who recognized entrepreneurship training and educating are necessary for students. Assuming that entrepreneurs are born with their gifts, DNA genes, innate desires. However, their DNA genes are unstructured that are still not systematic to promote their advantages. For those, they need to be trained with entrepreneurship education for optimization their advantages. Everybody has their genes and gifts to become special people. However, it is will be succeed or failed that depend on how genes are to be arranged into systematic chain. Entrepreneurship programs can help students get their food in the door by teaching them to develop their ability with new business plans. Furthermore, according to Vivek Wadhwa’s team surveyed more than five hundreds successful entrepreneurs that his team found that majority of entrepreneurs did not have entrepreneurial parents. In this survey, there are 52% of entrepreneurs who is the first in their family to start the business. For instance, Bill gates, Larry Page, Jeff Bezosâ€¦Besides that, some entrepreneurs are born into entrepreneurial families and they can be taught how to run business from their parents, grandfathers, grandmothers, relatives from a very young age. So, it is proving that entrepreneurs are born into entrepreneurial families but they can be taught from their family. The saying, ”entrepreneurs are made, not born” will be more right when Thomas Edition, a famous American inventor, a businessman famously stated that:” Genius is one percent inspiration, ninety nine percents perspiration”. They mean that a genius who will be made with one percent of nature and the rest is nurture. Furthermore, according to Babson College, students will be positively impacted to start their new venture if they take at least two core entrepreneurship classes (Courtney Rubin, 2011).
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All points are displayed above. As an affirmation for entrepreneurial development in Britain that ”if we are putting our hopes for economic revival in young entrepreneurs, so we must step up their training” (Tom Bewick, 2010). A controversial question is always no right or wrong. It depends on people’s views, beliefs. In my viewpoint, entrepreneurs are made, not born. Everybody are born with their genes, innate desires that as same as others. However, entrepreneurial behavior does not follow Mendelian inheritance patterns (Mellor, 2005: Chapter 1.4) and ” entrepreneurship is something you learn in practice”, ”entrepreneurship is learning by doing” (Kolb, 1984). I believe in the way entrepreneurs were trained and educated with entrepreneurial skills, behaviors. They will become entrepreneurs. Recent years ago, international economic trends changed. There are no longer dominant economic powers that control global economy. Bill Gates, Donald Trump as special examples that their country grew up by their contribution. Emerging countries have researched on entrepreneurial origin. Governments were aware of establishing entrepreneurial teaching centers that give a numbers of entrepreneurs to serve their countries. According to Harvard Business school which survey five hundreds entrepreneurs and most of them stated that they learned skills, methods from their families. I believe in that entrepreneurs are born with entrepreneurial family and of course they are taught from their family. It considers as training, teaching that make entrepreneurs.
To sum up, a debate between the origin of the entrepreneurs are born or made is becoming harshly. Some people believe in natures, innate desires of entrepreneurs. Some people stated that teaching, training, experience that create a entrepreneur. Globalization has effected on all fields as economy, culture, human life. Everything is changing under impact of globalization and entrepreneurship is not excepted. Entrepreneurs need to be trained for updating skills, experiences, methods that requires for doing business in new environment. Well, it is hard to say correctly origin of entrepreneurs. Two parties have argued for a long time. Nature or Nurture” is one of those things that can be debated endlessly.
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