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Characteristics of Entrepreneurial Businesses

Author

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  • Claudia Ramona Ciocnitu (Stoiconi)

    (Business Administration, Faculty of Economic Sciences, University of Oradea, Romania)

Abstract

This study examines the dynamics of entrepreneurial businesses, focusing on innovation and risk management as catalysts for economic development. Through a survey, we analyzed entrepreneurs' perceptions on creativity, opportunity identification, risk tolerance, management skills, and adaptability. Results indicate a strong recognition of creativity and innovation, with a majority considering their businesses highly innovative. Most respondents are confident in recognizing and seizing opportunities, though some acknowledge the need for improvement. Attitudes towards risk vary, with a segment willing to embrace significant risks for potential rewards. Generally, management skills are rated positively, but some see room for growth. The study highlights entrepreneurs' capability to navigate complex business landscapes, emphasizing the importance of entrepreneurial traits in promoting economic vitality.

Suggested Citation

  • Claudia Ramona Ciocnitu (Stoiconi), 2024. "Characteristics of Entrepreneurial Businesses," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 408-417, August.
    • Handle: RePEc:ovi:oviste:v:xxiv:y:2024:i:1:p:408-417
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    References listed on IDEAS

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    1. Wiklund, Johan & Nikolaev, Boris & Shir, Nadav & Foo, Maw-Der & Bradley, Steve, 2019. "Entrepreneurship and well-being: Past, present, and future," Journal of Business Venturing, Elsevier, vol. 34(4), pages 579-588.
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    creativity; innovation; risk-taking; management skills; entrepreneurship;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • L53 - Industrial Organization - - Regulation and Industrial Policy - - - Enterprise Policy
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

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