Nowadays, entrepreneurship has undergone democratization processes connected with technology. Therefore, it is of utmost importance to find out its function in an individual’s life.
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Indeed, entrepreneurial people serve as a subject of interest not only for psychologists but also for economists, managers, sociologists, and even philosophers. The power of entrepreneurship lies in the ability to change people, giving them the opportunity to create, launch new enterprises, and break into the market (Mitra, 2016). However, such a radical change of lifestyle may be a fixed state of existence or a role that individuals undertake to create organizations depending on the particular situation and even one’s personal goals.
Concerning entrepreneurship as a role, one may remember how Mark Zuckerberg has turned from a former student to a person of the year, a successful Internet entrepreneur. These days he is believed to have changed people’s communication once and for all (Hisrich & Kearney, 2014). In this case, there is the person who seems to take a certain role, to be more exact, an innovator, influenced by the needs of their community. It might be implied that the benefits of top-notch technologies are likely to influence an entrepreneur’s decision-making processes (Townsend & Hunt, 2019). Thus, driven by public demand and equipped with new technological opportunities, one can get a desire to introduce innovative ideas for products and services.
Besides, sociologists may connect one’s inclination to entrepreneurship as a certain role with an individual’s motivation and the quality of education. Highly motivated and educated entrepreneurs are expected to have innovative businesses (Drucker, 2015). Moreover, not only personal qualities and educational achievements but also sex and gender are taken into consideration. Unfortunately, Entrepreneurship policies tend to prioritize masculine culture and remain highly male-dominated.
Nevertheless, there is the other side of entrepreneurship. As far as the fixed state of existence is concerned, it should be clarified how and how not entrepreneurship is considered to be in a fixed state of existence (Rusu & Roman, 2017). Firstly, one may easily think that the fixed state of existence refers to stagnation. Still, it is not fully right because entrepreneurship is expected to influence the economy without even being a part of it (Landström, 2020). That means that the gist of entrepreneurship lies in its ability to change the world around it (Weinberger et al., 2018). It would be better to consider a fixed state of existence as a positive phenomenon describing a certain enterprise being stable. According to recent research, successful entrepreneurs are middle-aged, not young (Azoulay, 2020). Such people tend to seek sustainability in business because there is a risk of bankruptcy if an entrepreneur suddenly changes the strategies that prove to be working.
Azoulay, P., Benjamin, F., Jones, J., Daniel, K. and Javier, M. (2020) Age and High-Growth Entrepreneurship. American Economic Review: Insights, 2 (1), pp. 65-82. Web.
Coleman, S., Henry, C., Orser, B., Foss, L. and Welter, F. (2018) Policy Support for Women Entrepreneurs’ Access to Financial Capital: Evidence from Canada, Germany, Ireland, Norway, and the United States. Journal of Small Business Management, 00(00), pp. 1-27. Web.
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Drucker, P.F. (2015) Innovation and entrepreneurship: Practice and principles. Abingdon: Routledge.
Hisrich, R.D. & Kearney, C. (2014) Managing innovation and entrepreneurship, London: Sage 4.
Landström, H. (2020), ‘The evolution of entrepreneurship as a scholarly field’, Foundations and Trends in Entrepreneurship, 16 (2), pp 65-243. Web.
Mitra, J. (2020) Entrepreneurship, innovation and regional development. Oxon: Routledge.
Rusu, V.D. and Roman, A. (2017) Entrepreneurial activity in the EU: An empirical evaluation of its determinants. Sustainability, 9, pp. 1679. Web.
Townsend, D. M. and Hunt, R. A. (2019) Entrepreneurial action, creativity, & judgment in the age of artificial intelligence, Journal of Business Venturing Insights, 11, pp. e00126. Web.
Weinberger, E., Wach, D., Stephan, U. and Wegge, J. (2018) Having a creative day: Understanding entrepreneurs’ daily idea generation through a recovery lens. Journal of Business Venturing, 33(1), pp.1-19. Web.