Masrenny Masri | The Essence of Entrepreneurship

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Masrenny Masri - Economic Perspective on Entrepreneurship

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  The concept of entrepreneurship is multifaceted. There are varied, diverse, and somewhat contradictory sets of definitions of the term. As a way out of the definitional dilemma, this article aims to explain the economic perspective on entrepreneurship. The economic perspective rests on certain economic variables which include innovation, risk-bearing, and resource mobilization. Innovation/Creativity In this approach, entrepreneurs are individuals who carry out new combinations of productive resources. The key ingredient, the carrying out of new combinations (or innovation) distinguishes entrepreneurs from non-entrepreneurs. While new venture creation appears as the most prevalent form of entrepreneurship, there exist other forms. Entrepreneurship also involves the initiation of changes in the form of subsequent expansion in the number of goods produced, and in the existing form or structure of organizational relationships. In the entrepreneurship literature, some scholars have qu...
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Masrenny Masri - Traits of the Perfect Entrepreneur

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If you've considered the possibility of becoming an entrepreneur there are eight traits that are important in describing the perfect entrepreneur.   1. Risk Taker - Entrepreneurs understand that in order to make a profit they will need to assume a certain level of financial risk.   2. Business Manager - Entrepreneurs have a keen understanding of finance and are well equipped to manage the finances of a business.   3. Organizer - Entrepreneurs are well equipped in the area of organizing all aspects of the business for current and long-term growth.   4. Marketing Expert - Entrepreneurs are capable of understanding and implementing marketing strategies both online as well as offline.   5. "People" Person - Entrepreneurs love to interact with people. They are proficient in customer service and have never met a customer they didn't like.   6. Self Starter - Entrepreneurs understand that if something is going to be done right they need to ...
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Masrenny Masri - Entrepreneurs: How Strong Is Your Business Foundation

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With the cost of higher education increasing every year, college students are finding it difficult to make ends meet. Between inflation, the recession and high unemployment many "new millennials" are choosing a home based business opportunity over work-study or the more traditional restaurant and service industry jobs offered on campus.   Owning their own home based business allows the young entrepreneur to work right out of their home or dorm room any time during the day or night. (Remember how Facebook and Papa John's got their start?) A home based business can give an unlimited earning potential for college students without the entrapment of a forty hour work week.   But somehow, between the start-up phase and graduation, one of three things happens to derail success. Top business coaches show the three most dangerous activities that lead to home based business closure for young entrepreneurs along with tips on how to proactively avoid them.   Dangerous Bus...
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