BUSS 3108 Assignment Help on Concept Map Building

From time immemorial, man has been an entrepreneur. In most cases, entrepreneurship was coupled with innovation. Enterprises which were formed by entrepreneurs who were innovators as well have done exceedingly good when compared to just entrepreneurs. 

Entrepreneur is a person who is willing to take a risk to explore an opportunity that he or she believes exists. While doing so, an entrepreneur may or may not get financial assistance from external parties.

In all case where the where the entrepreneur was a social entrepreneur, a technology / innovation entrepreneur, a corporate entrepreneur or a family business, all have realised that without innovation, the enterprise does not succeed in the long run. 

While each of the entrepreneurs has a its own individual objectives and separate models to follow, the common thread that runs through all of them is that of innovation and the ability to take risk. 

Every category of entrepreneurs has its own distinct characteristics as mentioned below:

Social Entrepreneur:

• High on creativity.
• Very high on self confidence and high regards to ones beliefs. 
• A very high level of perseverance as the problem itself is of gargantuan proportion.
• High on leadership and acts as a source of inspiration to others. 
• Such people are high on adaptability. 
• High on agility as there is nothing to lose. 

Technology / Innovation entrepreneur:

• They are exceedingly good in identifying commercial opportunities. 
• They are fast learners, particularly from their mistakes.
• They are clear of the requirement and often have high physical stamina to stretch themselves to the limit.
• They are often secretive of their opportunity, but are also good at getting help from others for working on parts of their projects.