Introduction of Entrepreneur

Entrepreneur can be defined as a person who starts a business and willing to risk loss in order to make money. Based on Merriam-Webster, an entrepreneur is defined as the one who organizes, manages, and assumes the risks of a business or enterprise. But actually there are many definition of entrepreneur such as an entrepreneur is the people who is combining, managing and organizing the resources including labour, capital, assets and others in the business and able to take risks and challenges (Sobel, 2003).

            An entrepreneur also defined as an innovator of new ideas and a leader in the business which is make many contributions in the economy. They will use their knowledge and skills to create splendid new ideas and then introduce it to the market (Entrepreneur, 2016). In Malaysia, government together with private agencies play a role to supporting an entrepreneur in order to encourage them and others in this business because it will contribute to national income.

            The policy makers especially shows an interest on providing a medium to an entrepreneur to start their business since the establishment of Ministry of Entrepreneur and Cooperative Development (MECD), Ministry of Science, Technology and Innovation (MOSTI), Majlis Amanah Rakyat (MARA), Ministry of Youth and Sports, Malaysia Production Organization (FMM), Malaysia Chambers of Commerce (DpM), SIRIM, Entrepreneurs National Capital Berhad (PUNB), Development Malaysia Bank and others.

            An entrepreneur is needed has some entrepreneur traits to operate their business and become a successful entrepreneur. So in this coursework, we will discuss about entrepreneur traits. There are eight entrepreneur traits which is persuasion, self-confidence, work commitment, efficiency oriented, tolerance for failure, high initiative level, information seeking and problem solving. Some successful entrepreneurs will be applied into entrepreneur traits to understand them clearly.