Codes are becoming more prevalent in organizations today, and they are proving to be more meaningful in their implementation. This chapter concludes with a model of entrepreneurial motivation, which depicts the important factors of expectation and outcome. The Entrepreneurial Mind-Set Every person has the potential and free choice to pursue a career as an entrepreneur. What motivates people to make this choice is not fully understood. Entrepreneurial Cognition Cognition is used to refer to the mental functions, mental processes thoughts , and mental states of intelligent humans.
Entrepreneurial cognition is about understanding how entrepreneurs use simplifying mental models to piece together previously unconnected information that helps them to identify and invent new products or services, and to assemble the necessary resources to start and grow businesses. Metacognitive Perspective Metacognitive model of the entrepreneurial mind-set integrates the combined effects of entrepreneurial motivation and context, toward the development of metacognitive strategies applied to information processing within an entrepreneurial environment.
Starting a new business requires more than just an idea; it requires a special person, an entrepreneur, who combines sound judgment and planning with risk taking to ensure the success of his or her own business. It can also compensate for personal shortcomings. Simple problems bore them, unsolvable ones do not warrant their time. They believe that their accomplishments and setbacks are within their own control and influence and that they can affect the outcome of their actions.
When they decide to participate in a venture, they do so in a very calculated, carefully thought out manner. In many cases this vision develops over time as the individual begins to learn what the firm is and what it can become. Most successful entrepreneurs have highly qualified, well-motivated teams that help handle the growth and development of the venture.
Dealing with Failure Entrepreneurs use failure as a learning experience. They have a tolerance for failure. The most effective entrepreneurs are realistic enough to expect difficulties and failures. If entrepreneurs deal effectively with grief that emanates from failure then they will not become disappointed, discouraged, or depressed. In adverse and difficult times, they will continue to look for opportunity.
The Grief Recovery Process Grief is a negative emotional response to the loss of something important triggering behavioral, psychological, and physiological symptoms. The emotions generated by failure i. However, avoiding negative emotions is unlikely to be successful in the long-run Research indicates that entrepreneurs may recover more quickly from a failure if they oscillates between a loss and a restoration orientation. The Entrepreneurial Experience The prevalent view of entrepreneurship in the literature is that entrepreneurs create ventures.
Its narrow framing, however, neglects the complete process of entrepreneurship. The creation of sustainable enterprises involves three parallel, interactive phenomena: emergence of the opportunity, emergence of the venture, and emergence of the entrepreneur. None are predetermined or fixed—they define and are defined by one another.
The Dark Side of Entrepreneurship Certain negative factors that may envelop entrepreneurs and dominate their behavior. Although each of these factors has a positive aspect, it is important for entrepreneurs to understand their potential destructive side as well. A typology of entrepreneurial styles helps describe the risk-taking activity of entrepreneurs. In this model, financial risk is measured against the level of profit motive the desire for monetary gain or return from the venture.
Stress and the Entrepreneur To achieve their goals, entrepreneurs are willing to tolerate the effects of stress: back problems, indigestion, insomnia, or headaches. Lacking the depth of resources, entrepreneurs must bear the cost of their mistakes while playing a multitude of roles, such as salesperson, recruiter, spokesperson, and negotiator. Simultaneous demands can lead to role overload. Entrepreneurs often work alone or with a small number of employees and therefore lack the support from colleagues.
A basic personality structure, common to entrepreneurs and referred to as type A personality structure , describes people who are impatient, demanding, and overstrung. Loneliness—Entrepreneurs are isolated from persons in whom they can confide. They tend not to participate in social activities unless there is some business benefit. Immersion in Business—Most entrepreneurs are married to their business. They work long hours, leaving them with little or no time for civic recreation. People Problems—Most entrepreneurs experience frustration, disappointment, and aggravation in their experience with people.
Need to Achieve—Achievement brings satisfaction. However, many entrepreneurs are never satisfied with their work no matter how well it is done. Networking—One way to relieve the loneliness of running a business is to share experiences by networking with other business owners. Getting Away from It All—The best antidote could be a well-planned vacation. Communicating with Employees—Entrepreneurs are in close contact with employees and can readily assess the concerns of their staff. Finding Satisfaction Outside the Company—Entrepreneurs need to get away from the business occasionally and become more passionate about life itself; they need to gain some new perspectives.
Delegating—Entrepreneurs find delegation difficult because they think they have to be at the business all the time and be involved in all aspects of the operation. Exercising Rigorously—Research demonstrates the value of exercise regimens on relieving the stress associated with entrepreneurs. The Entrepreneurial Ego Certain characteristics that usually propel entrepreneurs into success also, if exhibited in the extreme have destructive implications for entrepreneurs. As there is no simple universal formula for solving ethical problems, entrepreneurs have to choose their own codes of conduct; the outcome of their choices makes them who they are.
Ethics represents a set of principles prescribing a behavioral code that explains what is good and right or bad and wrong. Ethics may outline moral duty and obligations. Legality provides societal standards but not definitive answers to ethical questions. Because deciding what is good or right or bad and wrong is situational, instead of relying on a set of fixed ethical principles, entrepreneurs should an ethical process for making decisions.
The Matter of Morality Requirements of law may overlap at times but do not duplicate the moral standards of society. Some laws have no moral content whatsoever. Some laws are morally unjust. Some moral standards have no legal basis. Legal requirements tend to be negative, morality tends to be positive. Legal requirements usually lag behind the acceptable moral standards of society Complexity of Decisions Business decisions, in the context of entrepreneurial ethics are complex.
Ethical decisions have extended consequences. Ethical business decisions often have mixed outcomes. Most business decisions have uncertain ethical consequences. Most ethical business decisions have personal implications. Establishing a Strategy for Ethical Enterprise Entrepreneurs need to commit to an established strategy for ethical enterprise. Ethical Codes of Conduct A code of content is a statement of ethical practices or guidelines to which an enterprise adheres. Ethical Responsibility A strategy for ethical responsibility should encompass three major elements: ethical consciousness, ethical process and structure, and institutionalization.
Ethical Considerations of Corporate Entrepreneurs Recognize the fine line between resourcefulness and rule breaking. Recognize that unethical consequences that can result in organizations where there are barriers to innovation. Recognize that companies can take action to combat unethical behavior by: Establishing flexibility, innovation, and employee initiative and risk-taking.
Removing barriers to innovation faced by entrepreneurial middle managers. Including an ethical component in corporate training. Caring is a feminine alternative to the more traditional and masculine ethics based on rules and regulations. In attempting better to understand the driving forces within entrepreneurs, we can gain a more complete perspective if we take a psychological look at entrepreneurs and consider the entrepreneurial mind-set. Part of that mind-set includes the package of mental processes that entrepreneurs possess, which include attention, remembering, producing and understanding language, solving problems, and making decisions.https://rasexppinsrothimb.gq/religions/pigmentprotein-complexes-in-plastids-synthesis-and-assembly.pdf
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Entrepreneurial cognition refers to the knowledge structures that people use to make assessments, judgments, or decisions involving opportunity evaluation, venture creation, and growth. This process is metacognitive. The process responsible for ultimately selecting a response i. Entrepreneurs have a tolerance for ambiguity, are calculated risk takers. What do these characteristics mean for any potential entrepreneur? Entrepreneurs face uncertainty compounded by constant changes that introduce ambiguity and stress into every aspect of the enterprise.
A tolerance for ambiguity exists when the entrepreneur can deal with the various setbacks and changes that constantly confront him or her. Successful entrepreneurs are not gamblers—they are calculated risk takers. They do everything possible to get the odds in their favor, and they often avoid taking unnecessary risks. These strategies include getting others to share inherent financial and business risks with them—for example, by persuading partners and investors to put up money, creditors to offer special terms, and suppliers to advance merchandise.
Entrepreneurial passion is a fundamental emotional experience for entrepreneurs. It is a discrete emotion that is quite intense being described as an underlying force that fuels our strongest emotions, or the intensity felt when engaging in activities that are of deep interest, or the energy that enables entrepreneurs to achieve peak performance.
Is it true that most successful entrepreneurs have failed at some point in their business careers? Entrepreneurs use failure as a learning experience; hence, they have a tolerance for failure. How should failure be dealt with by entrepreneurs? As noted above, the most effective entrepreneurs are realistic enough to expect difficulties and failures. If they can deal effectively with any grief that emanates from the failure then they will not become disappointed, discouraged, or depressed by a setback or failure.
In this way entrepreneurs will believe that they learn more from their early failures to form the foundation of later successes. Research shows that an entrepreneur recovers more quickly from a failure if he or she oscillates between a loss and a restoration orientation. This oscillation means that the entrepreneur can gain the benefits of both orientations while minimize the costs of maintaining either for an extended period.
Be complete in your answer. The dark side of entrepreneurship is a destructive course that exists within the energetic drive of a successful entrepreneur. There are three major traits that are associated with the dark side of entrepreneurship: risk, stress, and the entrepreneurial ego. All potential entrepreneurs need to be aware that the dark side of entrepreneurship exists. What are the four specific areas of risk that entrepreneurs face.
Describe each. The four specific areas of risk are as follows: 1. Financial risk—In most new ventures the individual puts a significant portion of his savings or other resources at stake. Career risk—A question frequently raised by would-be entrepreneurs is whether they will be able to find a job or go back to their old jobs if their venture should fail. Family and social risk—Entrepreneurs expose their families to the risk of an incomplete family experience and the possibility of permanent scars.
Psychic risk—The greatest risk may be to the well-being of the entrepreneur. What are the four causes of stress among entrepreneurs? How can an entrepreneur deal with each of them? There are four causes of stress: loneliness, immersion in business, people problems, and need to achieve. To reduce stress, entrepreneurs must define the cause of the stress.
After clarifying the cause of stress, the entrepreneur can combat excessive stress by acknowledging its existence, developing coping mechanisms, and probing personal unacknowledged needs. If you choose to learn more about a particular venture by working for another organization, be aware of non-compete clauses in your employment contract. In some jurisdictions, these clauses can be very restrictive. You don't want to risk your future projects by violating the rights of another entrepreneur or organization. Armed with this information, assess your skills in each of these areas.
The harder you work to build your skills, the more successful you're likely to be. Having said that, many successful business-owners are impulsive, uncomfortable with risk, or belligerent with colleagues and customers. Still, others have little business knowledge, and have simply hired the talent they need to succeed.
You can succeed without some of these skills, however, the more you're missing, the more likely you are to fail. As you work through your analysis, you may feel that you're ready to take the plunge into your own venture. Alternatively, you may decide to wait and further develop your skills. You may even decide that entrepreneurship isn't for you. While there is no one "right" set of characteristics for being a successful entrepreneur, certain general traits and practical skills will help you succeed. By examining your own personal strengths and weaknesses and comparing these with those of the typical entrepreneur, you can get a sense of how well this career will fit with your personality.
Remember, becoming an entrepreneur is a career decision like any other. Do your homework, look at your needs and desires, and then decide whether this path is for you. This site teaches you the skills you need for a happy and successful career; and this is just one of many tools and resources that you'll find here at Mind Tools. Subscribe to our free newsletter , or join the Mind Tools Club and really supercharge your career!
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Between and , he fought in the California uprising against Mexico and the Mexican-American War. In , Beckwourth joined the California gold rush and while in the Sierra Nevadas discovered a mountain pass that bears his name today. He made the gap more passable, opened an inn, and, by , was guiding wagon trains through the pass. Beckwourth, Mountaineer, Scout and Pioneer , were in part ghost written by T. Bonner and published in Beckwourth traveled to St. Louis and Kansas City where the popularity of his book enhanced his reputation and he was regarded as somewhat of a celebrity.
Beck-wourth returned to Denver, married again, opened a trading post, and was acquitted on a charge of manslaughter. Tiring of city life he signed on with the Army as a scout and fought the Cheyenne Indians. Beckwourth probably died of food poisoning on or around September 25, , while riding to a Crow encampment. Accounts of his purposely being poisoned by Crows are largely discounted today. He was named to play on a national All-Star team and was voted most valuable player on the tour.
Bing attended Syracuse University on a basketball scholarship graduating in with a B. He was the second overall pick in the National Basketball Association draft and was chosen by the Detroit Pistons. The company eventually came to be known as the Bing Group. In its first five years, the company doubled its revenues. In , a disgruntled employee burned down the main offices and warehouse of the Bing Group, and while the company experienced tough times, Bing rebuilt; the company continues to be a major supplier to most car companies in the Detroit area.
She went to work as a social studies teacher in the Philadelphia public school system. Brown stayed at Doubleday for two years, then moved to Los Angeles with her new husband. She moved back to New York in and returned to Doubleday as an associate editor. In , Brown quit Doubleday to become founding editor of Elan magazine, which focused on the cultural life of the international black community. She went to work at a bookstore, giving her firsthand retail experience.
In the fall of , Brown started her own business, Marie Brown Associates, a literary agency that run from her Harlem apartment. Although, similar to any new business venture, times were lean for several years, things started to turn around as Brown began signing more and more writers. As the s began, the larger publishing houses began courting African American writers, but Brown was far ahead of them, as one of only five African American literary agents in the country. Brown still contributes her time to the community, sitting on several boards including the Studio Museum of Harlem.
Born on March 22, , in Allentown, Pennsylvania, CasSelle has accomplished a great deal at a young age. Growing up in Allentown, Pennsylvania, CasSelle developed a passion for writing computer programs in high school. Upon his return to the United States he took a job with Apple Computers. CasSelle would later introduce E. David Ellington, his partner, to the wonders of cyberspace. By she was its first African American female vice president. Chappell was active in the community during her assent to the top of Continental.
She worked for a variety of community action groups that were concerned with redeveloping the inner-city. In she took time off from Continental to be the treasurer for the presidential campaign of the Reverend Jesse Jackson. In Chappell and a group of community business leaders founded the United Bank of Philadelphia, the only African American-owned bank in the city. The bank struggled to find funding in the late s. By March , however, it opened for business with sufficient backing. Black Enterprise chose it as the financial company of the year in It also began issuing its own credit cards and embarked on a partnership with American Express to offer investment advice and financial services to its depositors.
In June Chappell stepped down from her duties as chairman of the board and chief executive officer, but United continued its campaign to improve banking services in historically poor neighborhoods of Philadelphia and the surrounding cities. He attended the upscale, private, untraditional Waldorf School. Following high school, he attended Springfield College on an athletic scholarship. After only one year there, he decided to concentrate more on academics.
He transferred to Bowdoin College and received a B. In , he graduated from Harvard Law School with a juris doctorate. After graduation, Chenault spent two years working for a corporate law firm before transferring to a firm that specialized in business consultancy. In , he joined American Express. He moved up to become vice president of the merchandise services division in , and from to served as senior vice president and general manager of marketing for the division.
With the business on an upswing, Chenault became vice chairman of the company in , making him the highest-ranking African American executive in corporate America. Two years later, he made even more waves when he was named president and chief operating officer. Cottrell was born in Mobile, Alabama, on December 7, He began his sales career at the age of eight, joining his father for visits to clients selling insurance. Cottrell continued his sales career at Sears Roebuck after graduating from the University of Detroit in Years later, while managing a post exchange at a military base, Cottrell observed that there were no hair products for African Americans.
Cottrell decided to form a company that would sell products specifically for hair styles worn by African Americans. He started out marketing hair spray to African American beauticians and barbers. With the moderate success of this product, the Proline company was born. Five years later, Proline opened a distribution center in Birmingham, Alabama. In , Cottrell became—as a member of a owner consortium of investors that purchased the Texas Rangers —the first African American to own a Major League Baseball franchise.
Cottrell used his position to speak out about affirmative action in professional sports. In , he continued his philanthropy by purchasing the bankrupt Bishop College, a Dallas school founded by free slaves and Baptist missionaries, and he convinced Paul Quinn College to relocate from Waco, Texas, to the Bishop College grounds.
It is believed that he may have been educated in Paris, France, and worked as a sailor during his young adult years. In the early s, entrepreneur Du Sable established the first settlement in the area later called Chicago. Having impressed the British as a well-educated man and capable frontiersman, he was sent to the St. Clair region to manage trade and act as a liaison between Native Americans and the British. Later returning to his original settlement, Du Sable built a bakery, dairy, smoke house, horse mill and stable, workshop, and a poultry house.
He also traded, trapped, and served as the local cooper and miller. In Du Sable wedded a Potawatomi woman named Kittihawa, or Catherine, with whom he raised two children. Once married, Du Sable became increasingly involved in the community. His bid in , however, for tribal chieftaincy failed, and soon after he sold his holdings and moved from the Chicago area.
Real estate records suggest that he moved to St. Charles, Missouri, and that he probably died there in poverty on August 28, Growing up in Harlem, he was raised primarily by his mother. While earning his undergraduate degree at Adelphi University, which he received in , Ellington worked in the office of a U. Later, he earned his law degree from Georgetown University. He founded the Law Offices of E.
She received a B. She began her business career at General Electric in as a manpower specialist. There she began as a marketing assistant until she was promoted to assistant product manager in , product manager in , and marketing director in She remained in that position until she joined Kraft General Foods in At Kraft, Fudge started out as the associate director of strategic planning, but by , her worth to the company earned her a vice presidency in charge of marketing and development of the Dinners and Enhancers Division working on products, such as Log Cabin Syrup, Minute Rice, and Stove Top Stuffing.
She managed to reposition the products and increase sales in the over-burdened food market. She moved up to general manager of that division in , and became executive vice president in The same year, she became president of the Coffee and Cereals Division. Fuller was born on June 4, , in Monroe, Louisiana. He moved with his family to Memphis, Tennessee, where he dropped out of school after the sixth grade and worked at various jobs. In , he moved to Chicago and began selling products door-to-door.
By the mid s he had established a successful business on the South side of Chicago. In , he acquired Boyer International Laboratories, a white-owned cosmetics company, and greatly expanded his business. His company grew in size and he became famous for his motivational techniques. In , Fuller Products was forced to declare bankruptcy. Fuller reorganized the company, and it reemerged from bankruptcy in the early s. The company reestablished its sales techniques and grew into a large company again. Fuller died on October 24, , after receiving numerous honors.
Arthur George Gaston was the living embodiment of what makes up an entrepreneur. Gaston was born on July 4, , in Demopolis, Georgia, a small rural town. He started his business career in by founding the Booker T. Washington Burial Society, guaranteeing African Americans a decent burial. In it had grown large enough to be incorporated. In , Smith and Gaston Funeral Directors was formed to complement the services of the burial society.
Finding it hard to staff his growing company with skilled clerical employees, Gaston started the Booker T. Washington Business College in The college provided a place where African American students could learn proficiency in working on business machines. The school continues to this day. Next came a cemetery in , a motel in , an investment firm in , a savings and loan association in , a senior citizens home in , and two radio stations in In , at the hearty age of 94, Gaston opened the A.
Gaston Construction Company. He died on January 19, , in Birmingham, Alabama. La-Van Hawkins was born and raised in Chicago, Illinois. He suffered as a youth through drug addiction and gang membership. Hawkins managed inner-city projects for KFC and became a district manager.
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In , he joined T. Boone Pickens in various investment schemes that earned him large amounts of money.
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In , he began franchising Checkers restaurants. By , the success of this chain had made him a multimillionaire. In , officials for Burger King approached Hawkins about fronting several of their restaurants in urban areas. Hawkins accepted the offer and now owns Burger Kings in various cities and several federal empowerment zones. With more than a dozen Burger Kings in Detroit by , Hawkins continued to add restaurants each year. Robert Holland Jr. In , Holland moved from his job at the Mobil Oil Co. During that time, he worked abroad in the Netherlands, England, Mexico, and Brazil.
In , he switched companies again, accepting the chair position for Gilreath Manufacturing, Inc. In , Holland started Rohker-J Inc. He has also served as chairman of the board at Spelman College.
Johnson was born in Richton, Mississippi, on June 16, He attended Wendell Phillips High School in Chicago then went to work as a production chemist for a firm that produced cosmetic products for African Americans. While there, he developed a hair straightener for men and began marketing it himself in By he had formed Johnson Products and was selling products under the Ultra-Sheen label.
The company prospered and, by , its stock was being traded on the American Stock Exchange. Johnson Products was the first African American-owned company to trade on a major stock exchange. In June Joan B. Johnson Products was officially sold to Ivax in August Johnson has served as a director of the Independence Bank of Chicago, the U. Postal Service, and the Commonwealth Edison Co.
Johnson also is responsible for the George E. Johnson Foundation, which funds charitable and educational programs for African Americans. Johnson has received honorary degrees from many institutions of learning including Chicago State University , Fisk University , and the Tuskegee Institute Meanwhile, Kimbro worked at revising a manuscript left to publisher W.
Hill had been working on a version for an African American audience when he died. Stone gave the manuscript to Kimbro. Kimbro interviewed many successful African Americans to chart how they managed to maximize potential and channel positive thinking to build their success. In the next two years, the was a best seller among African American audiences, selling more than , copies and earning Kimbro an Award of Excellence from the Texas Association of Black Personnel in Higher Education in The same year, Kimbro accepted a post as associate professor and director of the Center for Entrepreneur-ship at Clark Atlanta University School of Business and Administration.
Lewis was born December 7, , in Baltimore, Maryland. He received an A. Between and Lewis was in private practice as a corporate lawyer. Lewis became the head of the largest African American owned business in the United States. Lewis died unexpectedly January 19, , in New York. Before attending law school, Llewellyn was the proprietor of a retail liquor store. After graduating he practiced law as part of Evans, Berger and Llewellyn.
Between and he worked in a variety of professional positions for various governmental agencies including the Housing Division of the Housing and Re-Development Board — , Small Business Development Corporation , and the Small Business Administration — He was in the U. Army Corps of Engineers from to Samuel Metters, a native of Austin, Texas, received his B. Metters founded Metters Industries Inc. The firm, which has over employees, is a strategic planning and analysis company that works in conjunction with various governmental entities.
His customers include the IRS and the U. Metters has also worked in Saudi Arabia building new cities and handling the logistical problems that go along with any new development. In Metters was selected as a member of the board of directors of the U. Black Engineers Publications, Inc. Rose Meta Morgan was born c. She started her own business at the early age of ten, making and selling artificial flowers door-to-door with the assistance of other neighborhood children.
By the age of 14, she was earning money styling hair. Morgan claims she was a high school drop out even though she may have actually finished. Either way, she attended Morris School of Beauty, and after graduating, she rented space in a salon and began styling, grooming, and cutting hair full time. Within six months of moving to New York, Morgan opened her own beauty shop.
Later, running out of room, she signed a ten-year lease for an old dilapidated mansion and began to renovate it. By , she drew 1, customers a week and increased her staff to 29 people including a nurse and masseurs. Morgan began producing and selling a line of cosmetics and hosting fashion shows that matured into major social events at the Renaissance Casino and Rockford Plaza in Harlem. Soon she was considered one of the richest business-women in New York.
Customers came from all over the country to visit the House of Beauty, and Morgan travelled abroad with her cosmetics, fashion designs, and ideas about beauty and women of color. In the mids, Morgan bought and refurbished a new building for the House of Beauty. The new salon offered more features, such as a dressmaking department, a charm school, and a fitness department and later a wig salon to cash in on the renewed popularity in hair pieces. In , Morgan created the Trim-Away Figure Contouring business, and shortly thereafter, in the s, she retired with a salon and a set of businesses as a legacy that are the only ones of their kind in the world.
In , she married heavyweight boxing champion Joe Louis , but their marriage was annulled in Later, Morgan married lawyer Louis Saunders, and though they separated in the early s, Saunders died before they were divorced. He worked in a General Motors plant while studying for his undergraduate degree, which he received from the Kettering Institute in In , he was named the president and chief operating officer of Merrill Lynch. He was scheduled to take over the leadership of Merrill Lynch in December Parks was born September 29, , in Atlanta, Georgia.
He received a B. Mary McLeod Bethune. In he was a national sales representative for the Pabst Brewing Co. In addition he became involved in a variety of enterprises, mostly in Baltimore, Maryland, including: theatrical bookings in New York City; a failed attempt at marketing a beverage with former heavyweight boxing champion Joe Louis; real estate; drug store operations; and cement block production.
After becoming familiar with the meat packing industry, he sold his interest in the company for a profit. In he started H. Parks Inc.
He died on April 24, , in Towson, Maryland. He graduated from high school at the age of 16 and attended the University of Hawaii, where he played varsity basketball. He graduated at the top of his class and received the highest score on the state bar exam in He continued in this capacity, also providing legal counsel for President Ford as deputy counsel and then as associate director of the domestic council. He defended clients, such as Happy Rockefeller and Estee Lauder. Parsons lead the bank to a comeback from severe debt. Parsons instead chose to act as chairman of the Economic Development Corporation for the city.
Parsons, no stranger to sitting on boards of directors, has served on boards for Time Warner Inc. Parsons has also served as a member of the presidential Drug Task Force, as chairperson of Wildcat Service Organization, and as a member of the board of the New York Zoological Society. At the age of 16, he first went into business—with his father. They bought a small piece of land and built a duplex on it. Russell used the money he accrued from rent to pay for his education at Tuskegee Institute.
Russell built a reputation for high quality work that allowed him to break down many racial barriers to success. He began to bid on large construction jobs and has worked on many of the biggest projects built in Atlanta since the s, including Hartsfield International Airport, Coca-Cola Company World Headquarters, and the Georgia Dome. He continued to built afforded housing despite the high-profile success of H.
In , Russell retired from the management of the company, passing it down to his children. He is well known in the Atlanta area for his philanthropy and for his work in the inner-city. Although he grew up in a middle class neighborhood, Simmons got involved with gangs in his teens.
While studying sociology, Simmons began noticing the influence rap music had on young inner-city African Americans. The boasting and story telling skills of various rappers drew crowds on street corners and in neighborhood parks. Simmons found himself in the middle of a movement that would shape the sound of the music, particularly the rap genre.
Simmons is married to hip hop clothes designer and model Kimora Lee. Simmons left college to promote local rap artists. Hard work and perseverance led to the formation of Def Jam Records in Simmons was primarily interested in promoting rap images that displayed the life and style of tough urban streets. The music Simmons involved himself with not only revolutionized hip hop but helped bring fashion to forefront as well.
High-top Adidas tennis shoes, black leather jackets, and t-shirts displaying the Def Jam Recording logo flooded the streets. These influences laid a foundation for Simmons own line of clothing called Phat Pharm. Simmons furthered his own professional growth by getting involved in film production. Rush is comprised of record labels, management companies, and clothing, radio, film and television divisions.
Simmons was also named a trustee of the National Urban League. Sims was born March 30, , in Oxford, Mississippi. She attended New York University, where she studied psychology, and the Fashion Institute of Technology, where she graduated in Sims was a fashion model with the Ford Agency in New York from to She was the first African American woman to be a high fashion model and the first to appear in a television commercial. She also appeared on the cover of Life magazine. In Sims also started lecturing and writing fashion and beauty articles on a freelance basis.
Sims has also received recognition for her fund raising efforts for sickle cell anemia and cancer research. Army Air Corps. He was promoted to captain and served as a combat intelligence officer in the Italian and Mediterranean theaters. He was decorated with Combat Stars for his service. After his discharge, Sutton attended law school on the G. During the Korean conflict, Sutton reen-listed in the USAF and served as an intelligence officer and a trial judge advocate.
Returning to civilian life, he opened a law office in Harlem with his brother and another attorney. In , he was elected to the New York State Assembly, where he served until In , he was appointed and later elected to the office of president of the Borough of Manhattan, a post he held until With his brother Oliver and Clarence B. The company also produced television programs and videos for entertainment companies around the country, including Showtime at the Apollo. Sutton retired from the company in , but continued to serve as chairman emeritus.
Sutton has been a civil rights advocate both as an attorney and a politician. John W. The silicon valley company, though long-established and financially viable, was sluggish in its performance. A well-known manufacturer of anti-virus and utility software, Symantec was facing stiff competition.
Walker was born Sarah Breedlove near Delta, Louisiana, in She was orphaned as a child, raised by a sister in Vicksburg, Mississippi, married at the age of 14, and widowed in at the age of Walker moved with her daughter to St. Louis where she earned a living by taking in laundry and sewing. She soon married C. Walker, a newspaper-man who taught her the fundamentals of advertising and mail order promotion. In she moved with her daughter to Pittsburgh where she founded a beauty school, the Walker College of Hair Culture, which trained cosmetologists in the use of her products.
In , with a more central location in mind, she moved to Indianapolis, Indiana, where she established a laboratory and factory and developed a nationwide network of 5, sales agents, mostly African American women, known as The Madame C. Walker Hair Culturists Union of America.
Her business prospered, and Walker became the first African American female millionaire. She died in New York on May 25, Walker was a strong believer in self-reliance and education. She was proud of her accomplishments, especially of providing employment for thousands of African Americans who might otherwise have had less meaningful jobs. Walker was also a genius at marketing, promotion, and mail order sales. Walker was born on or around July 15, , in Richmond, Virginia.
Walker attended Richmond public schools including Armstrong Normal School which functioned as a high school. After graduating in she taught in the Richmond schools for three years before marrying building contractor Armstead Walker in While she had been in school, Walker joined the Grand United Order of Saint Luke , a mutual aid society that served as an insurance underwriter for African Americans. Walker became active in the organization and held a number of lesser positions before becoming the Right Worthy Grand Secretary in She soon changed the name of the organization to the Independent Order of Saint Luke and moved its headquarters to Richmond.
In , she became the head of the Saint Luke Penny Bank and the first woman in the United States to hold such a position. Although legally separate, the bank had a close financial association with the Independent Order of Saint Luke. In she founded the Richmond Council of Colored Women and was a founding member of the Negro Organization Society, a blanket association for African American clubs and organizations. In she received the Harmon Award for Distinguished Achievement. Walker died on December 15, Terrie Michelle Williams was born on May 12, , in Mt.
Vernon, New York. Her first job after graduate school was as a medical social worker at New York Hospital. She held this job until when she became the program administrator of The Black Film-maker Foundation. In , Williams became vice president and director of corporate communication at Essence Communications, Inc. The multi-faceted Terrie Williams Agency, offers services to individual and corporate clients.
In addition to marketing and communications consulting, the agency also offers executive skills training. Williams also works with organizations and programs that provide services for at-risk and underprivileged youth. Cite this article Pick a style below, and copy the text for your bibliography.
Careers for Self-Starters & Other Entrepreneurial Types, 2nd Edition
September 24, Retrieved September 24, from Encyclopedia. Then, copy and paste the text into your bibliography or works cited list. Because each style has its own formatting nuances that evolve over time and not all information is available for every reference entry or article, Encyclopedia. Entrepreneurship comes from entrepreneur, anglicized from the original French word. It means someone who undertakes something. Merriam-Webster defines "entrepreneur" as "one who assumes the risk and management of business; enterprise; undertaker. Academic students of the entrepreneurial phenomenon have emphasized different aspects of behavior in business.
Josef Schumpeter — , the Austrian economist, associated entrepreneurship with innovation. Arthur Cole — , Schumpeter's colleague at Harvard, associated entrepreneurship with purposeful activity and the creation of organizations. The management guru, Peter Drucker — defined entrepreneurship as a discipline. It's a discipline and, like any discipline, it can be learned. Two widely cited contributors to the Encyclopedia of Entrepreneurship , A. Shapero and L. Sokol argued, from a sociological position, that all organizations and individuals have the potential to be entrepreneurial.
They focused on activities rather than organizational make-up in examining entrepreneurship. In their view entrepreneurship is characterized by an individual or group's initiative-taking, resource gathering, autonomy, and risk taking; thus, like Drucker's their definition encompasses all types and sizes of organizations with a wide variety of functions and goals — very much in line with the observation which shows that entrepreneurship is evident in the foundation and growth of all types of organizations.
The academic approach to this subject has tended to be analytical — attempts at disassembling the entrepreneurial phenomenon in order to generate laws of business. One of Arthur Cole's intentions, for example, was to integrate the entrepreneurial phenomenon into a general theory of economics; thus he spoke of it as one of several production factors: "Entrepreneurship may be defined in simplest terms," he wrote in Journal of Economic History , , "as the utilization of one productive factor of the other productive factors for the creation of economic goods.
Careers for perfectionists and other meticulous types
Another way to look at entrepreneurship is by the study of history on the one hand — how enterprises came to be, with special emphasis on their beginnings — and looking at the reports of entrepreneurs themselves to see what they have to say. The historical approach is very instructive but in a surprising way. First, the actual entrepreneurial experience somewhat de-mystifies the concept as Drucker did, but for other reasons : entrepreneurs very often stumble across opportunities, follow peculiar interests, or make something useful because they cannot find it.
Second, history also highlights intangible aspects of the entrepreneurial personality the very genes that Drucker dismissed : such individuals tend to be open-minded, curious, inquisitive, innovative, persistent, and energetic by temperament, thus showing many of the characteristics highlighted by the academics. But, fourth, the notion that entrepreneurs are risk-takers is not confirmed: rather, entrepreneurs are risk-averse but good at minimizing risk.
Paul Hawken, himself the founder of two successful businesses, provided a good view of entrepreneurship, from the entrepreneur's perspective, in his book Growing A Business. Hawken looked at many instances of start-ups including his own companies and highlighted the interesting mix of personal qualities, leanings, opportunities, the incremental means by which businesses get started, and the characteristics good entrepreneurs exhibit. Hawken made useful distinctions that Peter Drucker apparently overlooked. We need both entrepreneurial and institutional behavior.
Each feeds on the other. The role of the former is to foment change. The role of the latter is to test that change. A jeweler in nearby Redwood Falls refused a shipment of watches in The young Richard Sears, the agent, bought the watches from the seller and sold them to other agents up and down the railroad line.
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