INTRODUCTION
This essay aims to examine the world and nature of entrepreneurship in a limited context with the objective to evaluate and assess an interviewee, which is an entrepreneur, if one falls into the context of entrepreneurship. Not all who have businesses can be readily considered an entrepreneur for entrepreneurship have the certain characteristics, attitudes, skill, and so on before one can be considered a true entrepreneur.
The definition of entrepreneurs is broad; some studies have narrowed the definition of entrepreneur into three dimensions, entrepreneur’s attitudes, abilities and motive. The attitude dimension pertains to the way how entrepreneurs interact with customers to learn customer’s needs since customers are valuable for the business. But the most important attitude as to what an entrepreneur should have is to be a moderate risk taker. Risk taking is part in any business aspect (1970), if an entrepreneur is coward to be a risk taker of the fear of losing a lot, then the entrepreneur is not likely to excel in the business aspect because it causes stagnation in terms of the business opportunity for growth. Meanwhile, on the abilities dimension, According to (1984), entrepreneurs can think both intuitively and rationally. Intuitiveness is a skill useful for creative task. The need for an entrepreneur to be creative is apparent because as an entrepreneur, to make the business looks interesting and exciting, will gratify the curiosity of the people for the simple reason that people always like to venture for things that are interesting and new. On the other hand, the motive dimensions. Entrepreneurs are not to be called entrepreneurs if they do not have the urge for achievement. The three entrepreneur’s dimension as what have been studied by researchers, is basically pertains to the aspect of entrepreneurs that is intangible and the extra factors that makes an entrepreneur. The mentioned entrepreneur’s dimensions are the intangibles characteristics of being an entrepreneur that is not readily learned but is of intrinsic nature. Although, these dimensions can be developed it still does not imply that one can really get the essence of it.
Further, entrepreneurs are being characterized as one who identifies and capitalize on opportunities that place emphasis on innovation, profitable venture, effectiveness and the non-programmed or vague situations. Simply stated, entrepreneurs often gets involved in decision making which involved in the identification, design, selection and implementation as the phases that constitutes the decision process an entrepreneur must partake. Identification when entrepreneur is able to pinpoint the perceived need to fill an unfilled need. An entrepreneur having have identified the gap, could find means and appropriate solutions to eliminate the discrepancy that exist. This ability to seek solutions to a discrepancy is the coverage of the design phase. In the selection process, it connotes entrepreneurs taking actions that evoke the making of choice as to what course of action to make. The final phase of decision process, which is the implementation, implies the bringing in of the whole package in the decision process and its actual application whether or not it will be effective or it still needs improvement. The decision making ability of an entrepreneur is very crucial as it serves as a test for the entrepreneur and is likely to be a predictor of the future success of an entrepreneur in general. One wrong decision may cost a lot, thus, the decision making ability of an entrepreneur says something as to how capable an entrepreneur is.
To peek specifically the decision making process of restaurant entrepreneurs are likely to use the market-pull decision where the entrepreneur seeks to identify the unfilled gaps in the market place. Following the identification phase, entrepreneur thoroughly studies the discrepancy before deciding as to what is the right move to do.
Opportunities are interpreted as entrepreneur’s primary importance in the decision making situations. (1974), father of modern entrepreneurial thought, holds that entrepreneurs distinguish themselves by carrying out new combination of productive forces. In addition, he claims that entrepreneurs are innovator such that they introduce new concepts in the business. However, in contrary to , according to (1980), entrepreneurial activities relate to the introduction of new ideas within a firm, the focus is on strategies entrepreneurs employ in the development of their firms. Penrose criticisms to Schumpeter is not of essence, I believe was right because, it does not necessitates that an entrepreneur should introduce their innovative thinking for firms only, as part of the motivation aspect of an entrepreneur is concerned, the high level of the need for achievement is evident, therefore, the introduction of innovative concepts in which an entrepreneur engulfs, can also be interpreted as his motivation for self-achievement.
Moreover, (1982) characterizes entrepreneurs as individuals who search and identify profit opportunities. For , entrepreneurial profit opportunities exist where people do not know what it is that they do not know, and do not know that they do not know it. As an entrepreneur, they are perceived by all as business-minded people. In agreement with statement, any entrepreneur is very much likely to find means in which to maximize profits and exploit the potentials in whatever aspect that seems to generate profitability in the future. It is expected in every entrepreneur, to quest for achievement either of intrinsic (the sense of achievement) or extrinsic motivation (the profit).
Given the definitions of an entrepreneur, entrepreneurship is a concept that has been discussed for many years, since the time of in 1700 ( 1988). Entrepreneurship is a cycle happening in the environment it evolves and the settings that causes alteration in the economic system through entrepreneurs who generates innovations in response to opportunities that stirs value for the entrepreneurs and the society where it belongs. The environment where entrepreneurship operates occurs in the different economic, social and political environments whether it evolves from western-based economies, eastern or even the third-world economies which have inexpensive labor cost. The varying settings is dependent to the given environment aspect. Examples of the varying settings are new ventures, small and medium-sized enterprises, large-scale businesses or corporations, and the like.
MAIN PART
The selection process
Entrepreneurs are not at all hard to find. In Edinburgh, as the capital of Scotland, have many entrepreneurs. However, to limit my choices I trimmed down selection process into categories. Categories are range from restaurants, hotel, food, and so on. One thing I put into consideration in selecting is that it has got to be something that of great interest to me such that I would not have a hard time relating to him or her by the time I get to interview an entrepreneur. After picking the category of my choice, which is the restaurant, I have to limit again my choices into which I find exciting and new. Finally, the decision has to be made and I decided to choose an Italian restaurant that is slowly getting its reputation in the restaurant business. With respect to the other entrepreneurs, I did not reject the prospect of selecting them but the preference of selecting a restaurant that is a click to many people is more of an exciting thing to venture into. Luckily, in spite of the busy schedule of the owner, he was able to squeeze some of his time for an interview with me.
, is a restaurant owned by an Italian who is married to a Scottish woman. The reason I select the said entrepreneur is because it amazes me as to what secret had why people flocks from the restaurant like there are no other restaurants available in town. The restaurant started out as only having thirty seats but after a year, it doubled and has extended to seventy seats. As I have observed, every night is full house night and somehow I believed that is the talk of the town. Aside from that, I am a person who adores and appreciates the essence of eating good food and certainly is a place that would gratify my fetish for good food.
Methodology
Well, I use a very simple methodology wherein I just used my instincts and my personal choice in selecting for an entrepreneur. I did not have to place myself into a confusion as to who to pick and I find it easy since I do not have to set-up very formal appointments to interview an entrepreneur or interview a set of entrepreneurs. The methodology is of advantage to me because it was a personal choice and it is something I really have interest. Moreover, I get to enjoy the convenience of having a casual interview rather than a formal interview where I may find myself to be stiff. If there is a disadvantage as to what methodology I use, perhaps, it is bias in having made a personal choice.
Findings and analysis
The exploratory literature of entrepreneurs speaks of the vast characteristics of entrepreneurs in terms of their capabilities and the intangibles aspects that constitute the essence of an entrepreneur. Base from the findings of the literature review read, the conviction to approve is conceived. The reason is simple, the authors have expounded on the essence of an entrepreneur as a person and in terms of an entrepreneur’s potential and capabilities.
The nature of his business reflects very much on his personality and his passion in life that is cooking. Mr. Italian (as what I will call the restaurant owner in this essay) did not start out with a dream of establishing a restaurant business. As a matter of fact, he was a history graduate when he accidentally got into the craft of being a chef. Perhaps, as an Italian, it is intrinsically innate to Mr. Italian his love for good food. He was a chef in his friend’s restaurant business for ten years where he eventually dedicated his years in developing his skills of being a good chef, if not the best chef that he can be, leading to his developed emotional attachment for cooking. The knack of perfecting his craft is very evident and very valuable in the business that he chooses. As a family man, a husband to a lovely Scottish woman and a father to a beautiful daughter, he also takes good care of his restaurant just like he has taken care of his family. More than that, Mr. Italian gets to enjoy the beauty of life as he gets to do the things that matters to him, his family, his restaurant and his craft of being a chef.
Mr. Italian’s business is currently doing well, but according to him, he is just new in the business and is yet to be that stable. To my disbelief, he did not even have a certain strategy in his business. To him, having a restaurant is not all about coming up with strategy, simply it is finding the right location, having the right concept and being in the market before your competitors. In the future, Mr. Italian is hoping to expand his restaurant business if his business will continue to grow.
The restaurant business is somehow hard to manage and maintain since you have to come up with something that would really suit the taste of the customers. Nevertheless, it is not a problem to Mr. Italian. Even though, he is new in the business but not foreign in making food, his tacit knowledge about food equipped him with sufficient understanding as to how a restaurant should be run like. Many people say that when you choose to be a chef, it would not be all about the ingredients that you place in the food that you are cooking but what passion you poured into it will make your food delicious. Mr. Italian’s skills in cooking are I believe the very essence in the success of his restaurant. According to him, he cooks for the customers with special care attached to it. Moreover, his commitment to his restaurant also contributes to the success of his business. His “mano y mano”, referring to one-on-one managing of the restaurant proves his commitment, like checking for the quality of stocks everyday is a routine thing that Mr. Italian dedicates himself into. The success of any business is dependent on how the business is being manage and the extra factor of providing personalize care for customers is essential. By far, Mr. Italian’s commitment and dedication will serve as a very powerful tool in the continuing success of his restaurant business.
CONCLUSION
In summary of the literature review about entrepreneurs, it tackles the dimensions that pertain as to what entrepreneurs should be like. To recap, the dimensions being mentioned was attitude, abilities and motives. With regards to this dimension in which it is conceivable as intangible aspects of entrepreneur is stating being an entrepreneur is not all about learning to be like one but personality and disposition matters in entrepreneurship. The incorporation of these intangible aspects combined with knowledge contributes much in the success of an entrepreneur in line with the entrepreneurial activities an entrepreneur is into.
The definition of entrepreneurs is being narrowed though the concept of which is still broad. Nevertheless, it entails that being an entrepreneur is not easy or a very relaxing job. The discovery of the many duties and responsibilities of being an entrepreneur includes the responsibility of taking care all the necessary things that needs to be taken care of, managing the people that is behind the entrepreneur, satisfying customers and catering to their need, maintaining the business being run, the pressures of making tough decisions and the searching for possible areas of growth in order to expand the business. Among all these and the unmentioned responsibilities an entrepreneur does are vital in the running of the business.
The entrepreneur, Mr. Italian in spite of being new or rather just beginning in the restaurant business is a promising entrepreneur. Attitude, abilities and motivations wise, he is able to meet the pertinent characteristics as to what constitutes an entrepreneur. Mr. Italian ability to interact with the customers and in the provided special care he poured on the dishes he prepares for the customers is one way of making a personal connection with the restaurant customers. In the interview in which he stated, I am not a perfectionist, but I look strive to perfect the things I do is an attitude that falls in the premise of providing excellent service to its customers. Mr. Italian does not even cook a fish that is not fresh because of his aims in giving only the best for his customers. His intuitiveness in establishing a restaurant business paid off since he believes in his intuition that making something out of his passion in cooking will better equip him in the success and future success of his restaurant business. The motivation of excelling in the craft that Mr. Italian chooses is more of an intrinsic value for him. As a chef, seeing the people enjoying the dishes he prepared is rewarding and sense of achievement for him being a chef. Indeed the choice of entrepreneur I made was a true entrepreneur.
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