Entrepreneur is a loanword from the French language that refers to a person who undertakes and operates a new venture, and assumes some accountability for the inherent risks.
Most commonly, the term entrepreneur applies to someone who establishes a new entity to offer a new or existing product or service into a new or existing market, whether for a profit or not-for-profit outcome in which case he or she is an entredonneur. Business entrepreneurs often have strong beliefs about a market opportunity and are willing to accept a high level of personal, professional or financial risk to pursue that opportunity.
Nelson Kruschandl - Entrepreneur looking for investors
Research has demonstrated that there is such a thing as an "entrepreneurial type," with certain characteristics (such as having a father or a mother who was an entrepreneur) linked to the probability of someone being an entrepreneur themselves. There is little good evidence, however, that entrepreneurial type is linked to ultimate success of an entrepreneurial venture.
Business entrepreneurs are often highly regarded in US culture as being a critical component of its capitalistic society. Famous entrepreneurs include: Henry Ford (automobiles), J. Pierpont Morgan (banking), Thomas Edison (electricity/light bulbs), Bill Gates (computer operating systems and applications), Steve Jobs (computer hardware, software), Richard Branson (travel and media) and others.
Some distinguish business entrepreneurs as either "political entrepreneurs" or "market entrepreneurs."
An entrepreneur is someone who organizes a system to create a product or service in order to gain profit. However though there is a general sense that entrepreneurship involves the establishment of a new venture while adopting some of the risk, there is no common definition as the word has been used many ways in many times. Some scholars of entrepreneurship, such Prof. W. Long have tried to develop a definition by looking at the historical use of the word, as it evolved (Outcalt 2000). Perhaps the first person to create a theory about entreprenurs would be Schumpeter, although instead of using the French word adopted by the American literature, he used the German word "unternehmer".
Entrepreneur as a risk bearer
Richard Cantillon, an Irish man living in France was the first to introduce the term entrepreneur and his unique risk bearing function in economics in the early 18th century. He defined an entrepreneur as an agent who buys factors of production at certain prices in order to combine them into a product with a view to selling it at uncertain prices in future. Uncertainty is defined as a risk, which cannot be insured against and is incalculable. There is a distinction between ordinary risk and uncertainty. A risk can be reduced through the insurance principle, where the distribution of the outcome in a group of instances is known. On the contrary, uncertainty is a risk, which cannot be calculated. The entrepreneur, according to Knight, is the economic functionary who undertakes such responsibility of uncertainty, which by its very nature cannot be insured, or capitalized or salaried too. Mark Casson has extended this notion to characterise entrepreneurs as decison makers who improvise solutions to problems which cannot be solved by routine alone.
Entrepreneur as an organizer
Jean–Baptiste Say, an aristocratic industrialist, developed the concept of entrepreneur a little further. His definition associates entrepreneur with the functions of co-ordination, organization and supervision. According to him, an entrepreneur is one who combines the land of one, labour of another and the capital of yet another, and, thus, produces a product.
By selling the product in the market, he pays interest on capital, rent on land and wages to labourers and what remains is his or her profit.
Functional and indicative approach to entrepreneur definition
Mark Casson divides the approach of defining entrepreneur into two parts! Functional approach states that an entrepreneur is what entrepreneur does. The indicative approach provides a description of the entrepreneur by which he may be recognized. The indicative approach maybe more concrete: it can describe entrepreneur in terms of legal status, relation with other parties, position in society, etc. An entrepreneur is an individual whose specialism and economic contribution refer to allocation of factors of production.
Entrepreneur as a person willing to engage uncertainty
Frank Knight, in his seminal contribution to economics Risk, Uncertainty and Profit (1921), defines uncertainty as a primary attribute of his entrepreneurship theory. If there were no uncertainty no losses would be made. Risk is calculable, uncertainty is not. Entrepreneur is a person who is willing to put his career and capital on an uncertain venture.
Entrepreneur as a leader
More recently, researchers such as R. B. Reich have argued that leadership, management ability, and team-building should be added to the definition of entreprenership. Other scholars disagree, viewing management as separate from entrepreneurship.
Nature or Nurture (origins of the entrepreneur)
There are two theories about how entrepreneurs develop, often called the "supply" and "demand" theories. In the supply theory, entrepreneurs are born, not made -- certain people have the personality traits that make a good entrepreneur. Several research studies have shown that entrepreneurs are convinced that they can command their own destinies, or in the jargon of behaviorial scientists, the "locus of control" of the entrepreneur lies within himself. It is this self-belief which stimulates the entreprenuer, according to supply-side theorists. John G. Burch, writing in the September-October 1986 edition of Business Horizons gave a list of in-born traits that make an entrepreneur:
In academic circles, however, the "demand" theory is now generally more prevalent. The demand theory holds that entrepreneurs emerge out of the combination of entrepreneurial opportunities and people who are well-positioned to take advantage of them. Thus, anyone who encounters the right conditions might become an entrepreneur, if they find themselves in a position where they find a valuable problem that they alone can solve. Scholars studying the demand theory try to understand the conditions under which entrepreneurs appear, particularly in understanding how differences in the information various people have (see Austrian School economics) creates entrepreneurial opportunities, and how environmental factors (access to capital, competition, etc.) change the rate of entrepreneurship.
Theories of the Firm
SOLAR COLA as an INVESTMENT OPPORTUNITY?
The soft drinks market is a tough place to do business, unless you have something different to offer and the marketing muscle to match.
For nearly 100 years Coca Cola and Pepsi Cola have dominated the marketplace with similar products, but at this time they are losing ground to newer drinks with something more to offer. Each company spends around $600-800 million dollars a year to maintain its market position. The advertising centers around sport and music, with a scattering of irregular television campaigns. Each company launches (or attempts to launch) new brands every year. So far, they have not proved as successful as their regular cola brands and brand loyalty is an obstacle.
Red Bull, although in a different drinks category, spends not quite as much on advertising, but has managed to acquire instant status and volume sales from sponsoring formula one, the Darpa Desert Challenge, and now the New Jersey MetroStars football team.
A taste for adventure capitalists
Solar Cola - the healthier cola alternative
Solar Cola, apart from it's contemporary name, is a healthier cola based drink. Just as refreshing, it contains a unique blend of added ingredients as an aid to good health and energy levels. The company contributes to and sponsors alternative projects, to include this website, featuring movies, music and several thousand pages of general information, which generates in excess of 3 million visits a month already. Recent acquisitions include the rights to the Solar Navigator World Electric Challenge - 2009/10, and also the new Bluebird Electric land speed record car for 2007/8. The company may also sponsor the London to Brighton Solar Car Run in 2008 (dependent on the number of university entries received).
It is thought that this marketing strategy will equal several hundred thousand dollars of conventional Ad Agency spending. As an example of the kind of media coverage such nautical antics generate, you have only to look at the newspapers when Ellen Macarthur completed her world circumnavigation. The same was true for Sir Francis Chichester and Sir Robin Knox-Johnston.
The design of the Solar Cola can is copyright protected, with trademark applications in the USA, Australia and Europe pending in Class 32 and granted rights in the UK. Introduction of the drink is held in abeyance pending official launch of one or other sponsored projects, which will be activated when the time is right, such activation to coincide with the market introduction of the drink.
Solar Cola PLC is shortly to be activated for online investment as their trading arm. The company is forecast to produce excellent results for investors, with sustained growth to be followed by an eventual flotation on the Stock Markets of the world in the next five years. At this point estimates suggest investors will reap substantial gains - in line with international Licensing expectations.
Solar Cola Ltd is managing the funding requirement for the trading company. They are looking for medium term or seed investment between £4-5 million in total to kick start phase two of the venture. Accordingly, this may require co-operation between, and several Angel investors, or a mix of Equity House and private investors.
If you are a Business Angel, or Equity House, looking for an opportunity with the potential for good returns, please contact SOLAR COLA LTD for details of their business plan. Or for and informal chat, please ask for the funding project manager: Nelson Kruschandl
+ 44 (0) 1323 831727
+44 (0) 7905 147709
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