Wednesday, April 26, 2006

What it takes to be an entrepreneur ? ( Part 1)

A survey of Stanford MBAs suggests that the decisive factor that divides entrepreneurs from the rest of the pack is their well-rounded experience.
Business School Professor Edward Lazear, is the Jack Steele Parker Professor of Human Resources Management and Economics, and a senior fellow at the Hoover Institution. He is also the founding editor of the Journal of Labor Economics. He conducted a research centered on employee incentives, promotions, compensation and productivity in firms. The main factor affecting whether someone was more likely or less likely than average to become an entrepreneur, was, the number of different positions the individual occupied previously. Lazear stated that, "If you perform different roles, you pick up different skills and that makes you multidimensional” and added that: "Entrepreneurs are jacks-of-all-trades, not specialists."