Enterprising ideas

With the knowledge force becoming the core for strategy formulation in new economy ventures which are technology intensive, does the entrepreneur become a ‘dumb sleeping owner’ ? on the contrary, the presence of knowledge force demands that entrepreneurs have the necessary traits which will enable them to nurture organizational capabilities and act as a catalyst to take advantage of other positive element in the environment, all contributing to an effective strategy formulation process.

Unlike traditional ventures where the entrepreneur is the soul of the firm, new economy ventures have led to a new paradigm in entrepreneurship that create entrepreneurial energy necessary to energize organizations towards their strategic objectives. Thus entrepreneurial energy is the measure of knowledge force and comprises characteristics of the entrepreneur and the methods of functioning which create the necessary energy to activate the organization.

There have been several studies on entrepreneurial characteristics, both from the perspective of the state of entrepreneurship (brockhaus, 1980) as well as from the perspective of their impact on business performance (sandberg 1986).

In the context of knowledge force, the focus will be restricted to a select few variables of the personality characteristics….. entrepreneurial energy is measured by these factors – entrepreneur’s experience, education, networking ability, opportunity recognition ability and managerial competence.