In this article, written by William B. Gartner, he (1988, p. 12) discusses two different ways that researchers have tried to define entrepreneurs. The first being the trait approach. This approach attempts to study the personality traits possessed by entrepreneurs and define them that way. The second being the behavioral approach. This approach attempts to study the behaviors and actions of entrepreneurs and define them that way. Van de Ven (1980, p. 22) discussed a previous study on leadership that attempted to define leaders by their traits and characteristics. He warns that the results of this particular study were inconclusive, because researchers could not decipher any specific trait differences between successful and unsuccessful leaders. He went on to explain that there had been some breakthrough in leadership research that was based on behavior studies as opposed to trait studies.
This example, along with the knowledge I gain from the entirety of the article, leads me to believe that no amount of research will ever lead to an all encompassing definition of what an entrepreneur is. However, we can conduct research and try.
There is an example in this article that asks how would we define a baseball player? We could talk about an individual who is athletic, tall, in shape, eats sunflower seeds, and so on. But ultimately,
“To be a baseball player means that an individual is behaving as a baseball player.” (Gartner, W. B. 1988, p.22).
This, in my opinion, is a way in which researchers can simplify their attempts to “define” what an entrepreneur is. This simple idea that “to be an entrepreneur means that an individual is behaving as an entrepreneur” allows me to believe two things. 1) The behavioral approach to defining an entrepreneur is the most rational approach. 2) Although there is not ever going to be a perfect definition, this idea that an entrepreneur is anyone who behaves like an entrepreneur is a very broad scope definition that simplifies this thinking.
I honestly had a hard time following this second article, but I am going to take a swing at it. Right out the gate, Robert F. Herbert and Albert N. Link (1989, p. 39-40) discusses the history of the idea of entrepreneurship. They discuss briefly the significant role that entrepreneurs have played in the economic trajectory. I learned that the term “entrepreneur” is a generally young term. This makes me think even deeper about how we are to define entrepreneurs of the past when that term was not even in existence yet. For example, Thomas Edison and Henry Ford were both American inventors in the 1800-1900s. Using today's terminology, both of these men were textbook entrepreneurs, however since those terms were not yet coined, what did they call themselves, and how did they attempt to define their craft? These are the bits of information that I would wish to have in order to define an entrepreneur.
Richard Cantillon (p.42) goes back to an idea that was discussed in the first article. He stressed that what we should be looking at is the entrepreneurs function as opposed to their personality traits. This refers back to the traits vs. behavior discussion from earlier. I think that even though these two different people are stating this idea in different ways and through different lenses, that they are generally saying the same things. This can give us more confidence in the validity of the point of behavior over traits.
“An entrepreneur must have the courage of his convictions and face the consequences of his actions, whether they produce profits or losses” (Hébert, R. F., & Link, A. N., 1989, p. 47).
This article is titled “In Search of the Meaning of Entrepreneurship”, and I think that this quote above about having the courage of your own convictions might be the perfect way to sum up what the meaning of entrepreneurship is to me. I think that the true meaning of entrepreneurship can have many different answers depending on your own personal beliefs. However, I really like this idea that we are responsible for what we create as entrepreneurs, and it is up to us to take risks that could benefit the economy greatly, but if we fail, it is our responsibility to deal with the consequences of our failure.
Saras D. Sarasvathy (2006, p. 2) begins her article by discussing the differences between causal and effectual reasoning in attempts to explain what makes entrepreneurs entrepreneurial. She starts out by discussing a study that she ran in which she sat down and recorded conversations with 30 different founders from varying levels of success, backgrounds, and industries. She found similarities when reviewing her conversations and determined that that was a teachable aspect found in all of these founders. She determined that as opposed to causal reasoning, most entrepreneurs lean more toward effectual reasoning. Effectual reasoning not only requires a lot more creativity, but it also focuses more on execution than planning.
“Seasoned entrepreneurs, however, know that surprises are not deviations from the path. Instead, they are the norm, the flora and fauna of the landscape, from which one learns to forge a path through the jungle” (Sarasvathy, S. D. 2006, p. 3).
“In finding the first customer within their immediate vicinity, whether within their geographic vicinity, within their social network, or within their area of professional expertise, entrepreneurs do not tie themselves to any theorized or preconceived “market” or strategic universe for their idea.” (Sarasvathy, S. D., 2006, p. 5).
These two ideas point to the importance of open mindedness as an entrepreneur. If I, as an aspiring entrepreneur, can see changes in plans or surprises as normal and “just part of the process”, I think I will be a more successful entrepreneur. I like this idea of just trying to sell the product and see who is attracted to your company, and then using that information to fuel your marketing efforts. I think that by keeping your company open to whoever is attracted to it will bring the exact right customer to your company. This idea is a part of effectual reasoning.
In conclusion, the ability for entrepreneurs to think creatively or effectively is what sets entrepreneurs apart from other business persons. In other words, this is what makes entrepreneurs entrepreneurial.
Gartner, W. B. (1988). “Who is an entrepreneur?” is the wrong question. American journal of small business, 12(4), 11-32.
Hébert, R. F., & Link, A. N. (1989). In search of the meaning of entrepreneurship. Small business economics, 1(1), 39-49.
Sarasvathy, S. D. (2006). What makes entrepreneurs entrepreneurial
