1.0       Introduction

The concept of entrepreneurship has a wide range of meaning. On the one extreme an entrepreneur is a person of very high attitude who pioneers change, processing characteristics found in only a very small fraction of the population. On the other extreme Oxford definitions, anyone who want to work for himself is considered to be an entrepreneur. The word entrepreneur originates from the French word,  entrepreneur  , which means “to undertake ”.In a business context, it means to start a business .the  Merriam-Webster Dictionary presents the definition of an entrepreneur as one who organizes, manages, and assumes the risk of a business or enterprise. Entrepreneurs are individuals who are continually looking for opportunities to start/grow their own business. Individuals are attracted to entrepreneurship by a number of powerful incentives such as profit, independence and a satisfying way of life .An 'entrepreneur' is a person who is in control of a commercial undertaking. The word has also come to mean a person who is 'enterprising', who is ready to engage in a bold or difficult activity.  In general there are four routes to entrepreneurship including 1)Entering a family business, 2) opening a franchised business, 3) Buying an existing business and 4) starting a new business. While all four can be both financially rewarding and satisfying, this curriculum unit will focus on the process of staring one’s own business. Furthermore, owing to time constraints, the authentic learning takes (ALT’s) in this curriculum unit will focus on only two sub-aspects, grouped under the general hangings of technology and marketing. The capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit. The most obvious example, of entrepreneurship is the starting of new businesses. In economics, entrepreneurship combined with land, labor, natural resources and capital can produce profit. Entrepreneurial spirit is characterized by innovation  and  risk-taking, , integrity and reliability ,decisive of taking decisions , initiative , versatility , the competence , foresight , ethical consciousness , perceptiveness and ability to learn from mistakes  to successes in an ever changing and increasingly competitive global marketplace.

1.1.1   Characteristics of Entrepreneurs

An 'entrepreneurial' person is someone who is prepared to take some kind of risk in order to accomplish a task they find attractive. First and foremost, a successful entrepreneur is creative. While entrepreneurs have in common certain characteristics and skills, there is a wide range of individuality among them. In sports, some athletes do well because they love a sport and are trained to play it. They have developed their skills. Others are full of natural talent and require much less special training. Still others simply find their own successful approach to playing a sport even though they may not have been trained. Entrepreneurs are the same way. Some receive formal training and skill development. Others have a natural flair for it. Still others break every rule or devise very unusual approaches, but still succeed. Which do you think would be your style? While there is no recipe for becoming a successful entrepreneur, certain characteristics are associated with entrepreneurial success. Here are several important ones.

                       

1.1.2 Some other skills, abilities and qualities of successful entrepreneurs are:

·         The ability to see opportunities, and the confidence to seize them.

·         The ability to identify what other people want - existing customers, potential new customers, employees, colleagues.

·         Knowing how to satisfy people's needs and wants.

·         Tenacity, persistence, determination and a willingness to work hard.

·         Self-motivation and enthusiasm.

·         The ability to work as a member of a team.

·         The ability to take independent action.

·         Openness to new ideas and new ways of doing things.

·         Goal-setting skills.

·         Reliable intuition - a good entrepreneur is an educated risk taker.

·         Vision - the ability to see how products or practices might be improved, and to plan for different possible outcomes.                                        

·         Readiness to look at things differently, to 'think outside the box' or to take innovative action.

·         Readiness to learn from their mistakes and those of others.

·         Problem-solving ability and a desire to solve problems so that all involved parties are satisfied with the outcome.

Entrepreneurial skill and personal qualities that highly needed to operate the business successfully by the entrepreneurs.

2.0       Initiative

Sense of initiative and entrepreneurship refers to an individual's ability to turn ideas into action. It includes creativity, innovation and risk-taking, as well as the ability to plan and manage projects in order to achieve objectives. This supports individuals, not only in their everyday lives at home and in society, but also in the workplace in being aware of the context of their work and being able to seize opportunities, and is a foundation for more specific skills and knowledge needed by those establishing or contributing to social or commercial activity. This should include awareness of ethical values and promote good governance.

a Framework for their implementation and enforcement was adopted in January 2013  it is a non-governmental, venture philanthropy fund which supports new ideal organizations in and to promote activities social change chain  initiative is the implemented in preparation for a rapid expansion of the brand. Necessary knowledge includes the ability to identify available opportunities for personal, professional and/or business activities, including ‘bigger picture’ issues that provide the context in which people live and work, such as a broad understanding of the workings of the economy, and the opportunities and challenges facing an employer or organization. Individuals should also- be aware of the ethical position of enterprises, and how they can be a force for good, for example through fair trade or through social enterprise. Skills relate to proactive project management (involving, for example the ability to plan, organize, manage, lead and delegate, analyses, communicate, de-brief, evaluate and record), effective representation and negotiation, and the ability to work both as an individual and collaboratively in teams. Example about it Steve Jobs, co-founder of Apple computers, which produces Macs, iPods and iPhones, as well as Apple TV. Apple’s first product, the Apple I, was vastly different from the Apple products of today. This first handmade computer kit was constructed by Apple co-founder Steve Wozniak. It lacked a graphic user interface (GUI), and buyers had to add their own keyboard and display. Co-founder Steve Jobs convinced Wozniak that it could be sold as a commercial product. In 1976 the Apple was unveiled at the Home Brew Computer Club and put on sale.

2.1       INTEGRITY AND RELIABILITY

 Integrity can be defined as the adherence to moral and ethical principles, soundness of moral character, honesty and also the state of being whole, entire or undiminished. Reliability can be defined as ability to be relied on or depended on, as for accuracy, honesty, or achievement .Integrity can boost entrepreneurship by doing the right thing at all times, integrity should be a core pillar of entrepreneur because it leads to success, When it comes to integrity, it’s a matter of deciding up front what you are and are not prepared to do. If you want your behavior  to be a source of inspiration for your children, to continue to earn and deserve the respect of friends, colleagues, competitors, and clients, and go to sleep at night knowing you’ve done right by the people around you, then it pays to make a commitment to living a life of integrity, based on lasting principles. Jeff Bezos made headlines worldwide on August 5, 2013, when he purchased The Washington Post and other publications affiliated with The Washington Post Co., which owns the paper and other entities, for $250 million cash. The deal marks the end of the four-generation reign over The Post Co. by the Graham family, including Donald E. Graham, the company's chairman and chief executive, and his niece, Post publisher Katharine Weymouth. The Post could have survived under the company's ownership and been profitable for the foreseeable future, Graham stated, in an effort to explain the transaction. But we wanted to do more than survive. I'm not saying this guarantees success, but it gives us a much greater chance of success.

   

 

2.2       TIME COMPETENCE 

The system of those sequential relations that any event has to anyother, as past, present, or future;  indefinite and continuous durationregarded as that in which events succeed one another. Time can be the duration regarded as belonging to the present life as distinct from thelife to come or from eternity; finite duration. Competency as a term has been used in management literature for a long time now. However, its role and importance has been understood only in the recent decade. It is defined as the sum of experiences, knowledge, skills and attitude which we acquire during our life time for effective performance in a task or job. Competency is the concept of knowledge, skills and attitude of the person. The term competency has a number of definitions which depends on the specific task to be performed by individuals under Different conditions. These definitions differ on different counts. Boyatzis (1982) conducted a study on approximately 2000 managers and he identified and assessed hundred potential competencies. He defined competency as: “A capacity that exists in a person that leads to behavior that meets the job demands within the parameters of organizational environment, and that, in turn brings about desired results”. Spencer & Spencer (1993) define competency as an underlying characteristic of an individual that is casually related to criterion referenced effective and/or superior performance in a job or situation .This indicates that there are certain identifiable traits that constitute a person’s characteristics and level of performance in a job situation. Underlying characteristic means the competency is a fairly deep and enduring part of a person’s personality and can predict behavior in a wide variety of situations and job tasks. Casually-related means that a competency causes or predicts behavior and performance. Criterion-referenced means that the competency actually predicts who does something well or poorly, as measured on a specific criterion or standard. It is commonly understood that competency is a combination of knowledge, skills abilities and other characteristics which are required for successful job performance.

Entrepreneurial learning does not stop, say, five years after starting a firm. It will continue to develop depending on the initiatives employed by managers and their employees, as well as on the specific situational challenges the firms faces. However, this type of learning does not lead to diplomas or certificates and is hence difficult to include in general statistical data. Therefore, research interests have focused on formalizing the informal.  However, Entrepreneurs play a very important role for business survival and its success. For the survival and success of the business entrepreneurs required skills and abilities. For example, Melissa De León, founder of Panama Gourmet, a company which produces gluten-free foods, just won the 2012 UNCTAD Empretec Women in Business Award. This award honors businesswomen from developing countries who have founded successful firms, created jobs, and become role models in their communities. The finalists for this year’s award were women from Brazil, El Salvador, Ethiopia
(1995) “maintains that entrepreneurial competencies are defined as underlying characteristics possessed by a person which result in new ventures creation, survival, and /or growth.” Man, Lau& Chan (2002) refer to these competencies as the “total ability of the entrepreneur to perform this role successfully. Several studies have found positive relationship between existences of competencies and venture performance.

2.3 ETHICAL CONSCIOUSNESS

Ethics is the branch of philosophy that involves systematizing, defending, and recommending concepts of right and wrong conduct while Consciousness is the quality or state of awareness, or, of being aware of an external object or something within oneself. It has been defined as sentience, awareness, subjectivity, the ability to experience or to feel, wakefulness, having a sense of selfhood, and the executive control system of the mind.

Ethical consciousness can be define as the state of being aware of something within oneself with what is good and bad and with moral duty and obligations. It can also be seen as the study of how personal moral norms apply to the activities and goals of commercial enterprise. For example, if an entrepreneur is confronted with a choice between bribing officials to obtain government contracts or laying off workers, what should he do, He probably realizes that paying bribes is wrong, but is laying off workers and depriving them of their livelihood less wrong or less moral than paying bribes.

An Example of an entrepreneur who operated on ethical consciousness in his business is John Markey, who was described as a “right wing hippie”. John Mackey (born August 15, 1953) is an American businessman. He is the current co-CEO of Whole Foods Market, which he co-founded in 1980. Named the Ernst & Young Entrepreneur of the Year in 2003, Mackey is a strong supporter of free market economics. He is one of the most influential advocates in the movement for organic food. John Mackey believes ethical consciousness plays a very vital role in the development and success of the company in which often included in lists of most ethical/sustainable businesses, the tenets seem to suit new ventures and entrepreneurs far more than mature businesses with decades of corporate cultural baggage. Whole Foods Market is Mackey’s day job, in which ethical consciousness is a serious avocation for him. John Mackey believes one day, virtually every business will operate with a sense of higher purpose, integrate the interests of all stakeholders, elevate conscious leaders, and build a culture of trust, accountability and caring.

2.4 Entrepreneur versatility skill

A versatile entrepreneur is a person who opens door to several opportunities comparing to those who are not entrepreneurs. In terms of learning about culture, and language Versatility can also be considered as a great means in order to communicate with customers as it can build a strong business relation with clients. Moreover obtaining information on a regular basis obtaining information about the business industry in order to be more competitive than other businesses is an important characteristic. In another term, versatility and flexibility use of intellectual capital is important to entrepreneurs to be able to discover opportunities for new business. Intellectual capital as such is not that important but a certain combination of them because opportunity discovery is a multiform process.

The study found that entrepreneurial versatility is an ability to predict resource needs and resource sequencing has positive impacts on firm performance. General human capital, i.e., industry and managerial experience, and social capital, i.e., extensive and diverse personal networks, have weaker effects on performance of entrepreneurial ventures. Resources are needed may lead to better assessments of entrepreneurial opportunities, and this enables entrepreneurs to formulate the right strategy to exploit recognized opportunities. For example entrepreneurs may activate their own knowledge skill and experience to come up with certain business problems at the beginning.

It is assumed, however, that extensive networks enable entrepreneurs to locate clients and suppliers who are socially bound. This may facilitate sales stabilization and eventual growth since they provide a flexible room for negotiations that might allow entrepreneurs to convert the social bonds into revenue growth. The personal chemistry between the entrepreneur and the supplier is likely to enable the entrepreneur to purchase raw materials and other production inputs at stable prices, and that might positively influence profit margin.

For example, a successful entrepreneur as Bill Gates Bill Gates is predominately touted as the example of the potential for entrepreneurs and who better than the guy who started his own company, built an industry giant, and amassed the largest personal net worth. The Wall Street Journal’s write up about Gates for Breakaway list his most significant attribute by stating he “refuses to be complacent” His refusal to be complacent resonates with his ambitious and achievement-oriented character (Leaders and Entrepreneurship _ Leadership)

2.5 ABILITY TO LEARN FROM MISTAKES

Ability to learn from mistakes is always being the best way to increase our mental and emotional stability. For example we can take a boxer. He always tries to learn from his missteps. Which means he is improving his ability to fight more intelligently and does not want to redo the same mistake again? By the views of some experts, learning from mistakes is largely depending on genetic factors. It may be true, but anyone learn from mistakes at some point. Now, I want to share some advises of psychologists and experts about how to upgrade learning skills .Own your error. Couple of things conflict with us more than a cautious state of mind when we attempt to gain from a misstep. It's regular to need to protect ourselves in the wake of some slip-up — as it would turn out; botching is humiliating, actually mortifying. Anyway where's the point in protecting a blunder? What do you pick up by ensuring what you did wrong despite feedback? At last, you wind up underwriting it, offering it to others, when you ought to just be owning it. As opposed to attempting to append the fault to outer sources (the activities of others, nature, terrible timing) and guaranteeing they merit some piece of the fault, acknowledge the fault as your own. Put obtusely, it is by difficult to gain from a slip-up on the off chance that you can't even concede that you made it, that you are in charge of it. On the off chance that you miss a due date, own up to it — don't accuse activity or associates. In the event that you err a few figures, acknowledge that it was your do Change your attitude. As per creator and Stanford brain science educator Carol Dweck, the way to accomplishment and achievement is one's viewpoint on the thought of capacity: Do you believe that capacity is characteristic (significance possibly you have it or you don't), or do you surmise that capacity is something that can be produced? The position you take speaks to a piece of your identity; accepting the previous is genuine is embracing a settled mentality, one that demoralizes critical thinking, while the recent speaks to a development outlook, and supports critical thinking. For example, Mr. Shi Yuzu who did many mistakes in his entrepreneurship as he gets more and more arrogant, and doesn’t care others’ ideas. Sometimes a false decision he makes possibly brings fatal results.

2.6 Decisive

A leader of a small business is typically the person charged with making organizational decisions, both large and small. A failure to make a decision or take quick action when called for can sometimes hurt your business more than making a miscalculated or bad decision. You can improve your decision-making capabilities by setting specific parameters for making important judgment calls. The ability to make decisions and solve problems is a key to the success of every enterprise, another measure to use in the process of becoming a more decisive leader is to evaluate how a particular call has the potential to impact your business. Example: You have an established customer who is growing and expanding and needs more of your business’ time and resources. You can accommodate the request, but only if you reduce the number of new clients that you accept. This could put you at risk if the large, current customer goes under, because you’ll have fewer secondary clients to rely on for revenue. Weigh the pros-immediate guaranteed business-and the cons-the potential loss of yet-to-be-secured new business. Crunch the numbers to help guide you through the process, then make your decision based on your analysis. For example, Tim Westergren : Avoid the risk of not trying and the regret of wishing you had.
Tim Westergren, the founder and Chief Strategy Officer at Pandora, said if he could offer his younger self one piece of advice, it would be to realize from an early age that it’s far more haunting to live with the regret of having not followed your instincts—even when those instincts required a diversion from the beaten path—than to have followed your gut and failed. Luckily for Westergren, he was one of the few who did follow his passions and that pursuit led him to found a company with a market cap of $2.5 billion.

2.7 Foresight:

Foresight, innovation and entrepreneurship (FI&E). In approaching this subject, originally we considered that globalization and rapid modernization were increasingly creating the need for social reflexivity. We considered that new approaches to thinking about how and what we innovate, the choices we face for new enterprise creation and the influence of infrastructure for generating entrepreneurship would need to emerge. Our research has consistently exposed implications for education. We have also considered social entrepreneurs and the way in which they use foresight to create innovation based upon triple bottom line measures of sustainability. Our findings in this study exposed the variability with the extent to, and the way in which foresight is used. Deeper exposure to foresight thinking seemed to bring about broader engagement with communities across expanding boundaries. If transformational thinking is a goal the development of foresight practices within education would seem vital. The opportunities for education that extend from this body of work seem to point to the need for deeper appreciation of multiple paradigmatic views, a need to transcend disciplinary Boundaries, and a need for education practices that encourage the acceptance of emergence. Education in this field is less concerned with providing answers and solutions but instead with providing enabling processes and world views that respond to the challenges arising from the increasing complexity imposed by our changing world. For example, Willingness to work hard distinguishes a successful entrepreneur from unsuccessful one. Most of the successful entrepreneurs work hard endlessly, especially in the beginning and the same becomes their habit for their whole life. While delivering the Convocation Speech at the Entrepreneurship Development Institute of India, Ahmedabad on Saturday, 17th September, 2005, the well-known entrepreneur Shri Hair Shankar Singhania exhorted the budding entrepreneurs that “I have always followed the dictum that success comes only with 10% inspiration and 90% perspiration. There is no substitute for hard work. One must have a focus to achieve his /her Vision. Nobody gets a clean slate to write on and has to start with the dirty slate he gets. If one waits for ideal situation, the time will never come.

2.8 Perceptiveness

In my opinion, one important quality of entrepreneurship is the individual’s perceptive quality. Only very perceptive entrepreneurs can distinguish between ideas that are most likely to succeed, the nature of innovations that would provide the solution that the market is waiting for to lap up and the people who can deliver the required innovative solutions for the market and the organization. Such perceptive quality is generally very personal. Jeffry Timmons, one of the most respected commentators on the topic of entrepreneurship, has defined the term in his book The Entrepreneurial Mind as "the ability to create and build something from practically nothing." His definition captures the spirit of the word, the sense that entrepreneurs are like magicians, creating thriving organizations out of good ideas and a lot of sweat. Timmons's words hint at the myths inherent in the common understanding of entrepreneurship.. Men and women of popular lore such as King Gillette, Mrs. Fields, Colonel Sanders, Ray Kroc, Steven Jobs, Mary Kay, Ben and Jerry, and Bill Gates have taken a place in the spotlight of American business mythology. 
Many businesspeople believe that entrepreneurs have a personality that is different than everyone else's. Entrepreneurs have "the right stuff." But what does that consist of? While it is hard to generalize about what it takes to be a successful entrepreneur, some personality traits seem to be more important than others. But there are other, less obvious, personality characteristics that an entrepreneur should develop as a means of further ensuring their success. In his book Entrepreneurship: Texts, Cases, Notes, Robert C. Ronstadt indicated some of the traits that help entrepreneurs build thriving organizations. Chief among these, Ronstadt numbered creativity and the ability to tolerate ambiguous situations. 
Creative solutions to difficult problems may make or break the young and growing business; the ability of an entrepreneur to find unique solutions could be the key to his or her success. Being creative enables entrepreneurs to more successfully manage businesses in new and ambiguous situations, but without the ability to handle the pressure that uncertainty brings upon an organization, the entrepreneur may lose sight of his or her purpose. Often, personal or work history has led individuals to be more open to taking the risks involved with undertaking a new venture. For instance, individuals who know successful entrepreneurs may be stimulated to try their hand at running their own business. The successful entrepreneurs act as role models for those thinking about undertaking a new venture, providing proof that entrepreneurship does not always end in bankruptcy. Furthermore, Robert H. Blockhouse Sr. pointed out that dissatisfaction with previous employment often is related to a person's interest in entrepreneur. Those who have been dissatisfied with working for others or who have had negative work experiences are more likely to be willing to tolerate the ambiguity that characterizes new ventures. Personal experience and work history work in conjunction with personality traits to bring out the entrepreneurial spirit in individuals, pushing them towards the process of entrepreneurship.

 

 

 

 

 

 

 

PART B

Successful entrepreneur

                                                Mr. Shi Yuzu

3.0 introduction

Mr. Shi Yuzu was born in Hua Yuan of Anhui Province in 1962. He worked in Anhui Province Statistic Bureau after he graduated from Mathematics department of Zhejiang University in 1984.  He got software master degree in 1989 from Shenzhen University. After that he resigned from government, and earned 1million Yuan RMB by selling his invention of Chinese operation software M-6401 in 4month.In 1991 he set up Giant Company, and invented a series software .In 1992, the Giant headquarters removed to Zhuhai from Shenzhen and made 35 million Yuan RMB profit. In the same year , the Giant Building of 38-story was designed .In views of various reasons the design was amended again and again, at last the plan was changed from 38-story to 70-story. At the end of 1992, the US.

Wang An Computer Company went bankrupt so Mr. Shi thought that his company needed new industry mainstays. In 1994, the first phase of Giant Building project started, which it would be finished in 3 years due to the plan, and its new healthcare product “brain gold” came onto the market and got a big success. In 1996, due to the overinvestment on Giant Building project and mismanagement, Giant Company fell into abyss of finance quickly. Soon the construction project stopped, and many public investors screamed for repayment. After that Giant Company existed in name only.　

Mr. Shi was subject to great suffering, but he never gave up. After his flying low of 3 years, he stood up again. He has become a famous expert in capital operation, and gotten surprised success, and he is paying back to the public small investors in Giant Building project. He swore that he would repay all investors for sure. He set out with 500 thousand Yuan RMB again, developed a new healthcare product, which is famous all over the country. In 2004, he sold his production technology, assembly line and brand by 1.2 billion Yuan RMB. Now he has become the CEO of Stone Company, a famous company listing in Hong Kong. Nobody knows what, beyond other imagination.

  

When Mr. Shi was a primary school student, he was bad in study, but he was full of curiosity on everything. He once took the new-buy radio into pieces, and once made explosives by himself, which bombing sound scared all the neighbors, so he got a nickname “Valiant Shi”. After he became a junior middle student, he started to study crazily. In 1980, he passed the national college entrance examination with excellent scores. He once set foot in tennis, bridge card, uitar, and football while he studied in college.

Mr. Shi was an excellent expert in Software. He dug the first bucket of gold in the early of 1990s by means of his wit, then grasped the tide of China economic development, and became the most famous private entrepreneur. In 1993, Giant Company promoted many kinds of their own products, such as M-6405、Chinese laptop, Chinese hand-writing computer and so on. Only his Chinese hand-writing computers and software sale reached 360 million Yuan RMB the same year. Giant Company became the second largest private hi-tech enterprise to Stone Company in China. What’s more, the average age of the company staff was only 24 years old. In 1995, Giant invented 12 types of healthcare products, 100 million Yuan RMB was put into advertisement, Mr. Shi ranked 8th in the richest list of China mainland by Forbes Magazine.

3.1 What challenges did this person confront? And how did he overcome these challenges?

After his Giant Company fell into crisis and went out of business, the rumors spread that he had killed himself or he had escaped with a big amount of money. At that time, Mr. Shi had thoroughly nothing he could manipulate. He was subject to great suffering. During his flying low, he and his a few subordinates once climbed the Everest, they almost lose their lives there.  After that they realized they must restart. Mr. Shi began to do work for other company. Due to his reputation, he was paid high salary. After 5 months he earned 500 thousand Yuan RMB. With the money, he called up his old subordinates to set up a new company, they believed in Mr. Shi, and they didn’t care the slender salary. They followed him stubbornly. In view of laws causes, he couldn’t register his company with his name, so he took a big risk to invest in the new company. If others got rid of him, he had no law protection. He used his cause why he failed for reference, then built a new team and adopted modern enterprise management system. After 3years later, he appeared before people with a new shape.

3.2 how were Mr. Shi’s decisive in his decisions?

He was smart entrepreneur, he know how to maximum his team’s potential. He often studies china’s history and Chairman Mao’s works. He said why 20s or 30s year’s old people could become commanders of army, division, because they had huge pressure in front of them. He often imitates the war air, and give his team hard tasks possibly beyond their ability, two third of them created the miracles. He said nature of Giant phenomenon is a kind spirit that young people bravely run after struggle for their causes. After he was in trouble, he once said he has a bad drawback in an interview that he was not good at communication with others. Mismanagement is a very important reason for his failure. In Giant Company, Mr. Shi owned 90% of the company’s stock. He has made too many decisions by himself, his right cannot be restrained.
His self-opinion brought achievement to his company, but at same time it brought a big disaster, too. His subordinates once suggested him a few times that their company should use the loan of bank, but he refused these suggestions, which led to the break of operation capital chain. After this failure, Mr. Shi got mature in operation. He becomes a flag again, his reputation and his charming attributes promote him to a new position, and his great influence is strengthened by his stubborn spirits.

3.4 rishi and the versatility!?

Shi made his made his first small fortune in the software industry after founding Zhuhai Giant Hi-Tech Group in 1991. But excessively rapid expansion and lofty goals such as building a 70-story skyscraper plagued the company with bad debts, leading eventually to its collapse in 1997.

Undeterred, Shi regrouped and made splashes in both the health and the online gaming sector. He founded Giant Interactive, a company focused on massively multiplayer online games —or MMO— which are played through networked servers and enable a number of players to simultaneously connect and interact with one another. The company was listed in the US. In addition to his lucrative stake in Mincing Bank, of which he is a director, Shi also owns shares in Beijing-based Huaxia Bank and is diversifying into the Chinese rice wine market.

Shi, who has 6.6 million followers on the Twitter-like Sine We Ibo micro blogging service, is a regular on Forbes' rich lists. He was ranked 719 on the World's Billionaires list and No. 42 on the China Rich List with a net worth of US$1.8 billion as of October 2012.

3.4 What are the mistakes and success we learnt from him if we want to be successful entrepreneur?!

Mr. Shi set up typical example for us from positive and negative aspects.

   3.4.1 Positive:

·         Mr. Shi is far-sighted and experienced. Nobody is a natural leader, a leader must have gone through some hard tests, and in the course of growing up he becomes more and more experienced and has a great ability to predict the changes which will happen in the future. Mr. Shi often study the advanced culture and knowledge, so he often had the special ideas that made him get great achievements.

·         As a great leader, your cohesion and influence is the most important, which make you to have the ability to attract people, make them trust you. Especially in the urgent time, they cannot be suspicious of your ability. While Mr. Shi was in trouble, his many subordinates didn’t abandon him, but followed him till they succeeded again. It is a very important reason for him to succeed again. 

·         As an excellent leader, he will be often confronted with various obstacles for sure, so he must be energetic, strong-willed, optimistic, and passionate to overcome them, or he cannot get a series of success and become a leader finally. Under the fiercely competent circumstances, Mr.Shi could stand up only within 3 years after he failed, it is a miracle itself, which show Shi is sedulous and stubborn leader.

·         He is able to create a gap between vision and reality and then works to close the gap by slowly but deliberately changing reality. So a good leader must accumulate his experiences, steel himself and raise his own ability to create the gap, and to influence others to be faith in what I say or I do

·         He was such a person who can give his team a right navigation, he is a model in the minds of staff, who is the most strong and energetic

3.4.2     Negative:

·         If a leader often makes the correct decisions, he maybe gets more and more arrogant, and doesn’t care others’ ideas. Sometimes a false decision he makes possibly brings fatal results.

·         He is too powerful, which resulted others worship him blindly, and cannot provide and insist their own correct suggestions.

·         A leader should be a motivator to his team who can often be far-sighted and maximum his team’s potential, but Mr. Shi brought himself into play, neglecting others idea at the urgent time.

 

 

 

 

 

4.0       Conclusion:

What makes someone a successful entrepreneur? It certainly helps to have strong technology skills or expertise in a key area but these are not defining characteristics of entrepreneurship. Instead, the key qualities are traits such as creativity, the ability to keep going in the face of hardship, and the social skills needed to build great teams. If you want to start a business, it's essential to learn the specific skills that underpin these qualities. It's also important to develop entrepreneurial skills if you're in a job role where you're expected to develop a business, or "take things forward" more generally. 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. Does your homework, look at your needs and desires, and then decide whether this path is for you. In attempting to lay out the skills needed to be an entrepreneur. If you want to be successful entrepreneurship you must have some of entrepreneur skills, such as  an integrity and reliability, ability to learn from mistakes , decisive when taking decisions , foresight ,ethical consciousness , to have leadership style , prepare strategy plans and the time competence .

References:

Nieuwenhuizen.C. Entrepreneurial skills, Second edition, books.google.com

2011 International Conference on E-business, Management and Economics

IPEDR Vol.25 (2011) © (2011) IACSIT Press, Singapore

Haim, Alexander Watson and Karen Wise Olander. “The Entrepreneur’s Complete Sourcebook. Englewood Cliffs”, NJ: Prentice Hall, 1996.

Drucker, Peter F. “Innovation and Entrepreneurship”. New York:  Harper Business, 1985.

 Stolze, William J. Start Up: “An Entrepreneur’s Guide to Launching and Managing a New Business”, 5th Edition. Franklin Lakes, NJ: Career Press, 1999.

 businessinsider.in/-Life-Lessons-To-Learn-From-Azim-Premji/articleshow/

 Leaders and Entrepreneurship _ Leadership Jot. (n.d.)

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