Entrepreneur Responsibilities and Definition

Whenever you encounter an unfamiliar word, the first thing that you usually do is look up for its meaning. In this article, you will know the definition of entrepreneur. There are many definitions of entrepreneur but sometimes because of the many definitions, you often find it hard to understand even such simple word.

What is an entrepreneur? An entrepreneur is someone who manages and organizes any form of business. In order to understand the definition, you must know about an entrepreneur’s responsibilities. There are many responsibilities but those mentioned in this article are the most important ones.

Some of the responsibilities of an entrepreneur include planning, organizing, staffing, and controlling. These four responsibilities when done properly together will give you high returns in such a short period of time.

To start with, planning is a very important responsibility of any entrepreneur. Good planning is the very first duty that should be fulfilled by an entrepreneur. Oftentimes, an individual has many business intentions. To direct such intentions, you need careful planning. You must plan ahead so that you will know what to expect as you go through the course of the business. You have to plan all your actions and make sure that you follow such plans.

The next responsibility is organizing. In order to attain your specific targets, you must know how to organize especially if you’re handling several departments. This way, you can divide all the work that needs to be done. You don’t have to do all the work as an entrepreneur; you must know how to designate. By work designation, all the jobs are finished on time or even in advance. Not only that, the work are also done properly.

Staffing is another great responsibility of an entrepreneur. Sometimes, you’re burdened with your responsibilities but if you know proper staffing, you can lessen such burden. Through staffing, all the jobs are done properly and there is less possibility of business loss. You must have a competitive staff so that you can entrust the work to them.

Another responsibility of the entrepreneur is controlling. You need to direct, improve, and train employees. All the business plans made by the entrepreneur should be put into order. All the aspects of the business should be controlled by the entrepreneur – from production to inventory, quality checks, and many others. You should be able to monitor all the aspects of the business at all times.

In order to do all your responsibilities as an entrepreneur, you must be an excellent communicator. Good communication is needed so that you can deal with all kinds of individuals. If you’re good in communicating, you can convey all your messages correctly, completely, and clearly. This way, everyone will understand what you’re saying. Aside from being a good communicator, you must also be an excellent listener, writer, and reader.

If you want to become a successful entrepreneur, you must be able to do all the responsibilities mentioned earlier. You need to be a good and rational manager. If you can organize your business organization properly, you will not encounter many problems and you will have higher chances of earning big profits.

Now that you know the different responsibilities of an entrepreneur, you can understand what an entrepreneur really is. If you want to become an entrepreneur, you should determine first if you can handle such responsibilities.

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Is Education needed to be an Entrepreneur?

Is there really an education needed to be an entrepreneur? This is a question often asked by aspiring entrepreneurs.

Well, it all depends on the individual. There are times even when those that have no educational business background are still able to make it big in the business world. Some say that they owe it all to patience, hard work, and dedication. Most of the successful entrepreneurs on the other hand claim that it would take good education to become an entrepreneur.

So what will it be? Well, if you can afford to study a business degree, then don’t let that chance pass you by. You're quite lucky if you can attend college especially for a business degree. You have to dedicate your time studying all your lessons because in due time, you will be able to use such information to the advantage of your business.

You can choose to study in a local university or college or those individuals with more money to spend can study abroad if they want to. The important thing is to take your education seriously because you can use them when the right time comes. And while you're studying, you have to develop all the needed skills and characteristics of being an entrepreneur.

You have to participate actively in all school activities especially those that require you to exercise your skills in business planning, controlling, directing, etc.

There are many business degrees that you can choose from like commerce, business administration, economics, and many others. Make sure that you choose a course that you like and one that you can afford so that you can finish your way to college. Remember, passing alone is not important. You have to learn every step of the way and don’t forget the things that you've learned.

Some entrepreneurs didn’t have the proper educational background and yet they've become successful in their chosen field. The fact is, there are many successful entrepreneurs without the proper business education. How many times have you heard of an entrepreneur who started from scratch and yet ended up having a high-profit earning business? Perhaps there's more to just education.

You see, aside from education, you have to possess the right qualities and characteristics of being an entrepreneur like leadership, innovativeness, creativeness, risk taker, and many others. Even if you have the proper educational background, you can't become a successful entrepreneur if you don’t have these qualities and characteristics.

It seems that education and the right characteristics go hand in hand in producing an effective and successful entrepreneur. If you can have them both, take advantage of it right away. Education is something that money can't buy in an instant and besides, you can use your knowledge for the best interests of your business.

This is not to discourage those that can't afford to earn a business degree in college. If you want, you can use the resources available on the internet and learn everything you can about being an entrepreneur. You must also develop the right attitude and characteristics as early as possible. If you can pull it off, then no one can stop you from entering the business world.

Is there an education needed to be an entrepreneur? This question can only be answered by you. If you're an aspiring entrepreneur, try to assess your qualities, skills, and educational background. After that, you can already determine if you're fit to become an entrepreneur.

Is This Recession Real?

Jobless rate in Western US tops 10 percent

Play Video CBS 2 Chicago – Illinois Jobless Rate Hits Milestone

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AP – Santiago Romero, an unemployed architect, uses a phone to check at the California Employment Development …

By JEANNINE AVERSA, AP Economics Writer Jeannine Aversa, Ap Economics Writer – 1 hr 31 mins ago

WASHINGTON – The housing bust sent the unemployment rate in the West bolting past 10 percent in May — the first time in more than 25 years that a region of the United States has suffered double-digit joblessness.

A Labor Department report released Friday showed the West absorbing the worst of the recession, which is now the longest since World War II. California, Nevada and Oregon endured particularly heavy job losses in construction, manufacturing and tourism.

The region has been pounded because it was the epicenter of the housing boom that collapsed. As home values plummeted, the West lost jobs and wealth, and consumers grew skittish about spending.

"The West is where houses are being abandoned most quickly because it has the largest percentage of the population under water — owing more on their houses than they're worth," said Robert Reich, labor secretary under President Bill Clinton and now a professor at the University of California, Berkeley. "They lose their capacity to borrow. All of that means that they can't buy very much."

The West reported the highest regional jobless rate for May: 10.1 percent. The last time any region had an unemployment rate of at least 10 percent was in September 1983, when the economy was emerging from a severe recession.

The region's problems also go beyond housing. Cutbacks on businesses travel are hitting hard in Arizona and Nevada.

"It's difficult to keep major projects going — like casinos — in Las Vegas. That's pretty much come to a halt," said Steve Cochrane, managing director at Moody's Economy.com.

In California, the jobless rate jumped to 11.5 percent last month. In Nevada, it rose to 11.3 percent, and in Oregon, to 12.4 percent. All three figures were records, based on documentation going back to 1976.

In Oregon, makers of plywood, window sashes and doors have suffered from reduced demand. The state also has lost jobs in high-tech industries and at factories that make heavy trucks and recreational vehicles.

At a training center in a blue-collar Portland neighborhood, 36-year-old construction worker Michael Clark said he lost a job with a property management company in December.

"When I was laid off 2 1/2 years ago, you could mail out resumes, and you'd be getting four, five calls a week, and they'd be hiring," Clark said. These days, he said, the response is, "Thanks for your interest." And then silence.

Even as jobs have vanished, people who find Oregon a desirable destination keep moving into the state, and those already there are hesitant to leave, state labor economists say. That means more competition among job seekers for the few positions that come available.

In addition, many Oregon households that once had a single earner now have two people seeking work as spouses of laid-off workers have entered the labor market. And analysts say retirees seeking to replenish their shrunken 401(k) accounts are re-entering the work force, too.

What's more, hard-to-get credit has cooled once-hot real estate markets in the Portland area and in central Oregon, where the sunny desert climate has long attracted retirees from rainier parts of the Northwest and people cashing out of pricey California homes.

In Arizona, which along with Florida suffered the largest percentage drop in jobs last month, the losses were spread across many industries, including health care and government, said Marshall Vest, director of the University of Arizona's Economic and Business Research Center.

After the West, the Midwest had the second-highest unemployment rate, at 9.8 percent. The South's jobless rate was 8.9 percent. The Northeast had the lowest, 8.3 percent.

The government report showed employment conditions deteriorating in 48 states and the District of Columbia last month.

Michigan, the heart of the sinking auto industry, had the highest unemployment rate: 14.1 percent.

Eight states had record-high jobless rates. Only two — Nebraska and Vermont — reported no increases. Nebraska's jobless rate dipped, and Vermont's was flat.

The five other states that set new unemployment highs were North Carolina, Oregon, Rhode Island, South Carolina, Florida and Georgia.

After Arizona and Florida, the next-largest percentage drop in jobs last month was Oklahoma, followed by Arkansas, Kentucky and Michigan.

Nationwide, the jobless rate stands at a quarter-century high of 9.4 percent. Analysts say companies are unlikely to ramp up hiring until they feel sure their sales are rebounding and that any economic recovery will have staying power.

Some economists say the nation's jobless rate could rise as high as 11 percent by the summer of next year before it starts a slow descent. The highest rate since World War II was 10.8 percent at the end of 1982.

North Dakota and Nebraska reported the lowest unemployment rates: 4.4 percent each. North Dakota has been helped by the oil business. Nebraska has been supported by farm businesses.

Neither state ever got carried away by the housing boom, either, so they never suffered huge hits to household wealth. Nebraska also has benefited from the relative strength of two of its main industries: agriculture and food-production.

___

Associated Press writers Tim Fought in Portland, Ore., Evelyn Nieves in San Francisco, Arthur Rotstein in Tucson, Ariz., and Josh Funk in Omaha, Neb., contributed to this report.

To Define an Entrepreneur

When you encounter a new word, what do you usually do? Do you ignore it or do you try to look up its definition in the dictionary? For smart individuals, they will surely look up for the new word's meaning. If you're engaged in business undertakings, perhaps you want to define entrepreneur. Are you an entrepreneur?

There is a specific definition of entrepreneur. According to most dictionaries, an entrepreneur is a businessperson who finances or initiates emerging commercial enterprises. Basically, he or she is the person who provides for the capital of the business. However, providing capital alone is not enough to be called an entrepreneur. How is that?

It's because some individuals prefer to invest in a certain business venture but that person will let someone else handle all the business activities.

Any person who finances a business venture and runs it can be called an entrepreneur. According to some economists, an entrepreneur is someone who develops a fresh and new product, a new way of producing something, or an innovative market. Usually, entrepreneurs start with a small business and if it proves to be successful, the business will slowly expand.

So why put up small businesses? You see, small businesses require smaller amount of capital while larger ones demand huge capital. Not many entrepreneurs nowadays are willing to take the risk of putting up big businesses without proper research and studies.

Some say that being an entrepreneur starts right after a child is born. The qualities are already possessed by the child from the moment of birth. The individual is already a thinker and schemer of things. These individuals will want to reach the impossible. So if you’re a born entrepreneur, you must develop your skills and qualities so that you can use it in the near future for your success.

Putting up a new enterprise may sound very hard but for the entrepreneur, nothing is impossible to achieve. Innovation, creativity, leadership, being a risk-taker, and having the right inner drive or passion are some of the keys to being a successful entrepreneur. If you possess these things, nothing can stop you from being one of the biggest names in the marketplace.

There are thousands of opportunities that you can find from emerging communications, culture, and science and technology. All you need to do is identify these business opportunities and turn them into a real business enterprise. However, choosing a good business opportunity requires careful study and market research. Even if entrepreneurs are known to be risk-takers, they still have to make sure that they are entering a good business.

If you want to know more about the definitions of an entrepreneur, you can easily search for the meaning of the word in popular search engines like Google and Yahoo. By using the power of the internet, you can find a lot of definitions for you to understand the word much better. There are many resources to find online; all it takes is diligent research.

Being an entrepreneur is an exciting and challenging task. If you have the guts, the capital, the right inner passion, appropriate qualities, and skills, don’t hesitate to introduce something new to the market.

Besides, most customers like new stuff. So what are you waiting for? Study the market and see if you can enter it and become a new entrepreneur.

Learn the True Characteristics of an Entrepreneur

It is said that in order to become a successful individual in whatever endeavor you wish to take, you must have the right attitude and characteristics. This is also true with an entrepreneur. Not everyone can become an entrepreneur. But before anything else, what is an entrepreneur?

According to one definition, an entrepreneur is someone who finances or initiates a certain business undertaking. If you too would want to become a businessperson, you have to possess the characteristics of an entrepreneur.

What are the characteristics of an entrepreneur? Are they really important? Well, of course the characteristics are important because if you don’t possess them, you will have lower chances in terms of business success. The characteristics are as follows –

1. Risk taker – this is a very important characteristic of an entrepreneur. If you're not willing to take any risk, then you will not succeed as a businessperson. In the everyday course of the business, you will encounter a lot of problems and challenges which you need to decide the soonest.

Some risks are worth taking after careful evaluation especially if it's for the good of the business. If you're not a risk taker, then you're not an effective entrepreneur and you're bound to fail in your business undertaking.

2. Smart – being smart is another characteristic of an entrepreneur. You have to be clever, keen, and witty in all your business dealings. You have to show mental alertness and intelligence so that you can win the respect and trust of customers and other clients.

3. A leader – leadership is a characteristic that is hard to find among individuals. Not many individuals have the nerve to take the lead. To become a good entrepreneur, you must be a leader. Some say that this is a born characteristic but if you don’t possess it, you can also learn to become a leader.

You're quite lucky if you're a born leader because you only have to develop your other qualities and use them when you choose to become an entrepreneur. As a leader, you should be able to guide, influence, and direct people. This way, you can handle all your business activities with ease and fewer worries.

4. Inner passion for business – another important characteristic is having the right passion for business. You have to maintain your enthusiasm and interest in the business. As long as you have the right drive and passion, you can run the business for a long time.

5. Honest and trustworthy – some say that eighty percent of an entrepreneur's time is dedicated to pooling and attracting customers. This may be true because without the customers, the business will not exist. You have to be honest and trustworthy so that you can develop good will.

There are other characteristics that an entrepreneur should possess. These characteristics help him or her do all the business responsibilities and obligations that need to be done.

These are also the keys to business success. If you want to finance a certain business venture and run the business yourself, you should develop these characteristics. Without them, your business will soon fail and you will suffer the losses.

Be thankful if you already have the characteristics of an entrepreneur. All you need to do now is to study the market carefully, think of a good business venture, and provide for the capital and you're all set.