Paper Summary:

This paper reviews and discusses entrepreneurship and takes and in-depth look at the traits and characteristics of the entrepreneur. The paper reports that opportunity recognition has been an essential characteristic of all entrepreneurs. The paper focuses on ethic entrepreneurship, one of the most controversial topics in the field of entrepreneurship today.

Outline:
Entrepreneurship
Definition
Personal Characteristics of Entrepreneurs
Additional Personal Characteristics of Entrepreneurs
Traits of Entrepreneurs
Ethnic Entrepreneurship
Definition
The Role of Culture and Identity in Motivating Ethnic Entrepreneurs
The Present Status of Ethnic Economy in UK
Reasons for Business Entry
Mixed Embeddedness Model
Displacement Theory
Ethnic Resource Theory (or Cultural Theory)
Ethnic Enclaves
Economic Theories
Entrepreneurial Development and Growth
The Macro Level Perspective
Environmental Factor
Managerial Practices
Strategic Planning
Accessibility of Capital
Social Network and Partnerships
Social Capital
Dimensions of Social Capital
The Micro Level Perspective
Demographics of Successful Entrepreneurs
Personal Attributes
Summary and Conclusion

From the Paper:

"One of the main points that the displacement theory highlights for the high level of immigrants and ethic groups choosing to be entrepreneurs is the job discrimination that they face. They already suffer conditions of dearth, joblessness and with the addition of racial bias they feel like the salary they are given is not close to being good enough and they feel that the door of equal opportunities is always closed to them. One of the reasons why the ethnics and immigrants are not giving well-paid jobs is their inability to fit into the inflexible trends of the labor market force. They are not fluent in English and whatever knowledge, abilities, and schooling they have had does not mesh with the traditions of the labor force market. All these conditions: discrimination, in-fluency in English, lack of knowledge and business techniques, etc leave the immigrants and ethic groups with no choice but self-employment (Granovetter, 1985; 1990; 1995)."

Sample of Sources Used:

• Adler, P. & Kwon, S. (2000). Social capital: The good, the bad and the ugly. In E. Lesser (Ed.), Knowledge and social capital: Foundations and applications (pp. 80-115). Boston: Butterworth-Heineman.
• Aldrich, H. & Zimmer, C. (1986). Entrepreneurship through social networks. In D. Sexton and R. Smilor (Eds), The art and science of entrepreneurship (pp. 3-23). Cambridge, MA: Ballinger.
• Aldrich, H., Rosen, B., and Woodward, W. (1987) "The impact of social networks on business foundings and profit: a longitudinal study," in Churchill, N.C., Hornaday, J.A., Kirchoff, B.A. et al. (eds) Frontiers of Entrepreneurship Research, Welles-ley, MA: Babson College.
• Amabile, T.M. (1988) "A model of creativity and innovation in organizations," in Staw, B. and Cummings, L.L. (eds) Research in Organizational Behavior, Greenwich, CT: JAI Press.
• Ardichvili, A., Cardozo, R., and Ray, S. (2003) "A theory of entrepreneurial opportunity identification and development," Journal of Business Venturing, 18: 105-123.

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