STEPPING STONES 10/30/16 By The Law Firm of COUNSEL OF KING SOLOMON "...and justice for all"

Volume 2, Issue 42, October 30, 2016

In this issue...

Public Service Announcements

Quote Of The Week: A. A. Bomani

Book Of The Month: “CQB A Guide to Unarmed Combat and Close Quarter Shooting” By Mark V. Lonsdale, Specialized Tactical Training Unit (STTU)

It’s YOUR Health: Athlete’s Foot

Historical Fact Of The Week: History Of Entrepreneurship

Editorial Commentary: Coming!                               

 

Public Service Announcements

• The rechartering for The Head Cornerstone Corporation in the State Of Delaware as well as all updated business licenses and associated issues are forth coming pending litigation. Thank you.
• Visit WWW.Ready.gov at your earliest convenience so that you may be informed of basic protective measures before, during, and after disasters/emergencies, learn disaster prepared activities, training, plans, and what shelters are in or near your community, develop an emergency plan for yourself and your family in the event of an actual disaster/emergency, build an disaster/emergency supply kit including a basic emergency medical/trauma bag in case of an event, and GET INVOLVED!
• Get your CPR (Cardio-Pulomonary Resuscitation) and Basic First Aid/First Responder/Basic Life Support including child birth and Emergency Pediatric Care training today. Check with the American Heart Association at WWW.Heart.org for locations. It may just save a life.
•  It’s a lot of fun and excitement, it’s healthy, it’s a great family activity, and it’s very practical. Find a course in self defense for you and your loved ones and learn to protect yourselves. You just never know.
•  We have the constitutional right to BEAR ARMS and many states have the CCW (Conceal Carry Weapon) License for when you and your loved ones are outside of your home environment. Search the web for free information concerning the Conceal Carry Laws as well as other valuable information. Get the CCW License today (where applicable) for you and your family members of age and LEARN HOW TO SHOOT. You’ll feel better that you did.
•  WATER; it’s very essential for normal body functions and not only carries nutrients to your cells, but flushes out the toxins in are bodies that lead to diseases such as cancers, diabetes, and heart diseases. According to the Mayo Clinic and the Institute of Health, water consumption varies for each person depending on many factors associated with life styles, such as current health, activities, and where you live. Be informed about what your daily intake should be and “drink up”. It will make YOUR world a better place.

Public Service Announcements

are brought to you by

 COMMUNITY INTERNATIONAL

 

Tending The Garden; Plucking Poverty By The Roots

By Akil A. Bomani

The most severe form of poverty is ignorance; lack of knowledge or factual, true, and always objective information (as opposed to misinformation or ill knowledge). Only when we breathe, speak, and teach true knowledge to ourselves, each other, and especially to our youth will we begin the work of eradicating the overwhelming abundance of poverty from our minds, our bodies, and most importantly, our spirits; and thus, the world. This alone will heal all plagues, address every societal need, and end suffering the world over and forever. And what is knowledge without wisdom? Just look around you at our world today. Lack of wisdom is the second most severe form of poverty afflicting “Man”. Without wisdom, knowledge is just a loaded gun or an explosive device in the wrong hands. It is the obvious cure for the disease. And then, what will we do with ourselves?

Pedophiliac: The Grip Of Reality Reveals The One And Only Solution

By Akil A. Bomani

Pedophiliac, Child molester, Child predator, Child sex slaver/trafficker, … In summarizing this…“issue”, what a complete contradiction of nature and even evolution; an abomination. And what an example to the youth of the world we have set in not only not putting an end to such atrocity everywhere it exists, but have allowed it to now be an accepted part of popular culture in some of our societies, continue in others as “tradition”, or incidents and perpetrators have become so common place that one can see them “coming out of the closet”. The damage they inflict on their victims, their victims’ family, friends, school mates, care providers, emergency response personnel, etc. go far beyond bad dreams. Our current problem is this; the DISEASE is spiritual and mental which leads to the actual physical act and crime and THERE IS NO CURE. And so, there is but ONE solution. No matter where you are, no matter your socio-politico, cultural, and/or economic back ground, only those with no reasoning will disagree. And so, no matter where you are…no matter what country, city, township, or village, ethnic group, cultural orientation, or other group, support the enacting and, most importantly, enforcement of internationally standardized laws that reflect and directly address this most serious matter. Until there is a cure, our children are not safe. Seek to initiate the passing of laws that PERMANENTLY remove offenders from society by penalties of either LIFE OF IMPRISONMENT/MENTAL INSTITUTION with NO CHANCE OF PAROLE or RELEASE until a cure is discovered or DEATH BY SOME LETHAL MECHANISM for all perpetrators of this most heinous assault on our youth. We must, also, in a formal setting, teach our youth from the early developmental stages “sex education”, the very best parenting practices among other essential “life skills”, and the need, how, and why to report offenders to assist with their protection and bringing perpetrators to justice. And we must, in a formal setting, teach current parents, educators, as well as all other care providers how to recognize a problem when they encounter it. Please, join this War on Pedophiliacs as we seek all progressive methods to “end this right now”. Why? Pedophiliacs CAN’T help themselves and the next child could be yours. Or how else will our children ever respect us again?

Brought to you by

 THE BOMANI GROUP 

 

QUOTE OF THE WEEK

“…who know that this is not an African American, Caucasian, Native American, Latino, nor Asian thing…this is not a Republican, Democrat, nor Independent thing…it’s not about taxes, budgets, economies, foreign affairs, nor immigrants…for these are but only parts of the whole. Good, bad, or indifferent (which is impossible), all of history has brought us all up to this point in time and space. A careful study of what has become of us, among many other things, will reveal a very passive participation in our progressive growth by the many. Look around you…what do you see? And here we are…in the 21st century! We must be most proactive in all things that effect our today and tomorrow. Or who shall we have to blame? This is a “WE THE PEOPLE” thing!! EACH MUST PROACTIVELY PARTAKE THAT WE ALL MAY PROSPER!!! Join us as we prepare to take, not only OUR country, but OUR world back for the sake of our own selves and for the sake of our children’s future in order that there be a beautiful tomorrow (smile)…”

 A. Bomani

Quote Of The Week 10/26/08

 

" …music is one of the highest forms of communication. There are no barriers that will completely restrict it’s influence. Through music, you may teach, inspire, and accomplish miracles of all kinds. In this, I write and sing songs about experiences and trials in hope that through sharing, they may uplift or motivate others to overcome the trials and struggles in their lives. My goal is to be the best of the talents of which I've been blessed to be and to make Stone Records an icon within the music industry as the recording label with "…music for the soul". And by the will of our FATHER in heaven, that's what I'm going to do”.

"George"

Have a taste at

Reverbnation.com/Georgethesmoothandsexycrooner

and pick up the debut single,

“I Want To Know”

from

“Volume I George”

when it drops!

“Taste my funk (smile).”

George

Follow George on Twitter:

George

@George_StoneRec

"Strictly business for serious business minds…".

 

 BOOK Of THE MONTH

“CQB A Guide to Unarmed Combat and Close Quarter Shooting”

By Mark V. Lonsdale, Specialized Tactical Training Unit (STTU)

ISBN: 0-939235-03-X

 

MARY & MODINE'S MUSIC SHOP (BMI)

 Whether it’s Soul Contemporary Gospel, Smooth Jazz, Love Ballads, Commercial Jingles, Sound Tracks…

“…we’ve got that song you were looking for”

 

IT’S YOUR HEALTH

Athlete's Foot

From Wikipedia, the free encyclopedia

Athlete's foot, known medically as tinea pedis, is a common skin infection of the feet caused by fungus. Signs and symptoms often include itching, scaling, and redness. In severe cases the skin may blister. Athlete's foot may infect any part of the foot, but most often grows between the toes. The next most common area is the bottom of the foot. Fungal infection of the nails or of the hands may occur at the same time. It is a member of the group of diseases known as tinea.

Tinea pedis is caused by a number of different fungi. These include species of Trichophyton, Epidermophyton, and Microsporum. The condition is typically acquired by coming into contact with infected skin, or fungus in the environment. Common places where the fungi can survive are around swimming pools and in locker rooms. They may also be spread from other animals. Usually diagnosis is made based on signs and symptoms; however, it can be confirmed either by culture or seeing hyphae using a microscope.

Some methods of prevention include avoiding walking barefoot in public showers, keeping the toenails short, wearing big enough shoes, and changing socks daily. When infected, the feet should be kept dry and clean and wearing sandals may help. Treatment can be either with antifungal medication applied to the skin such as clotrimazole or for persistent infections antifungal medication that are taken by mouth such as terbinafine. The use of the cream is typically recommended for four weeks.

Athletes foot was first medically described in 1908. Globally, athlete's foot affects about 15% of the population. Males are more often affected than females. It occurs most frequently in older children or younger adults. Historically it is believed to have been a rare condition, that became more frequent in the 1900s due to the great use of shoes, health clubs, war, and travel.

Contents

1 Signs and symptoms

1.1 Complications

2 Causes

2.1 Transmission

2.2 Risk factors

3 Diagnosis

4 Prevention

5 Treatment

5.1 Topical treatments

5.2 Oral treatments

6 Epidemiology

7 See also

Signs and symptoms

Athlete's foot

Athlete's foot is divided into four categories or presentations: chronic interdigital athlete's foot, plantar (chronic scaly) athlete's foot (aka "moccasin foot"), acute ulcerative tinea pedis, and vesiculobullous athlete's foot. "Interdigital" means between the toes. "Plantar" here refers to the sole of the foot. The ulcerative condition includes macerated lesions with scaly borders. Maceration is the softening and breaking down of skin due to extensive exposure to moisture. A vesiculobullous disease is a type of mucocutaneous disease characterized by vesicles and bullae (blisters). Both vesicles and bullae are fluid-filled lesions, and they are distinguished by size (vesicles being less than 5–10 mm and bulla being larger than 5–10 mm, depending upon what definition is used).

Athlete's foot occurs most often between the toes (interdigital), with the space between the fourth and fifth digits most commonly afflicted. Cases of interdigital athlete's foot caused by Trichophyton rubrum may be symptomless, it may itch, or the skin between the toes may appear red or ulcerative (scaly, flaky, with soft and white if skin has been kept wet), with or without itching. An acute ulcerative variant of interdigital athlete's foot caused by T. mentagrophytes is characterized by pain, maceration of the skin, erosions and fissuring of the skin, crusting, and an odor due to secondary bacterial infection.

Plantar athlete's foot (moccasin foot) is also caused by T. rubrum which typically causes asymptomatic, slightly erythematous plaques (areas of redness of the skin) to form on the plantar surface (sole) of the foot that are often covered by fine, powdery hyperkeratotic scales.

The vesiculobullous type of athlete's foot is less common and is usually caused by T. mentagrophytes and is characterized by a sudden outbreak of itchy blisters and vesicles on an erythematous base, usually appearing on the sole of the foot. This subtype of athlete's foot is often complicated by secondary bacterial infection by Streptococcus pyogenes or Staphylococcus aureus.

Complications

As the disease progresses, the skin may crack, leading to bacterial skin infection and inflammation of the lymphatic vessels. If allowed to grow for too long, athlete's foot fungus may spread to infect the toenails, feeding on the keratin in them, a condition called onychomycosis.

Because athlete's foot may itch, it may also elicit the scratch reflex, causing the host to scratch the infected area before he or she realizes it. Scratching can further damage the skin and worsen the condition by allowing the fungus to more easily spread and thrive. The itching sensation associated with athlete's foot can be so severe that it may cause hosts to scratch vigorously enough to inflict excoriations (open wounds), which are susceptible to bacterial infection. Further scratching may remove scabs, inhibiting the healing process.

Scratching infected areas may also spread the fungus to the fingers and under the fingernails. If not washed away soon enough, it can infect the fingers and fingernails, growing in the skin and in the nails (not just underneath). After scratching, it can be spread to wherever the person touches, including other parts of the body and to one's environment. Scratching also causes infested skin scales to fall off into one's environment, leading to further possible spread.

When athlete's foot fungus or infested skin particles spread to one's environment (such as to clothes, shoes, bathroom, etc.) whether through scratching, falling, or rubbing off, not only can they infect other people, they can also reinfect (or further infect) the host they came from. For example, infected feet infest one's socks and shoes which further expose the feet to the fungus and its spores when worn again.

The ease with which the fungus spreads to other areas of the body (on one's fingers) poses another complication. When the fungus is spread to other parts of the body, it can easily be spread back to the feet after the feet have been treated. And because the condition is called something else in each place it takes hold (e.g., tinea corporis (ringworm) or tinea cruris (jock itch)), persons infected may not be aware it is the same disease.

Some individuals may experience an allergic response to the fungus called an id reaction in which blisters or vesicles can appear in areas such as the hands, chest, and arms. Treatment of the underlying infection typically results in the disappearance of the id reaction.

Causes

Athlete's foot is a form of dermatophytosis (fungal infection of the skin), caused by dermatophytes, fungi (most of which are mold) which inhabit dead layers of skin and digests keratin. Dermatophytes are anthropophilic, meaning these parasitic fungi prefer human hosts. Athlete's foot is most commonly caused by the molds known as Trichophyton rubrum and T. mentagrophytes, but may also be caused by Epidermophyton floccosum. Most cases of athlete's foot in the general population are caused by T. rubrum; however, the majority of athlete's foot cases in athletes are caused by T. mentagrophytes.

Transmission

According to the National Health Service, "Athlete’s foot is very contagious and can be spread through direct and indirect contact." The disease may spread to others directly when they touch the infection. People can contract the disease indirectly by coming into contact with contaminated items (clothes, towels, etc.) or surfaces (such as bathroom, shower, or locker room floors). The fungi that cause athlete's foot easily spread to one's environment. Fungi rub off of fingers and bare feet, but also travel on the dead skin cells that continually fall off the body. Athlete's foot fungi and infested skin particles and flakes may spread to socks, shoes, clothes, to other people, pets (via petting), bed sheets, bathtubs, showers, sinks, counters, towels, rugs, floors, and carpets.

When the fungus has spread to pets, it can subsequently spread to the hands and fingers of people who pet them. If a pet frequently gnaws upon itself, it might not be fleas it is reacting to, it may be the insatiable itch of tinea.

One way to contract athlete's foot is to get a fungal infection somewhere else on the body first. The fungi causing athlete's foot may spread from other areas of the body to the feet, usually by touching or scratching the affected area, thereby getting the fungus on the fingers, and then touching or scratching the feet. While the fungus remains the same, the name of the condition changes based on where on the body the infection is located. For example, the infection is known as tinea corporis ("ringworm") when the torso or limbs are affected or tinea cruris (jock itch or dhobi itch) when the groin is affected. Clothes (or shoes), body heat, and sweat can keep skin warm and moist, just the environment the fungus needs to thrive.

Risk factors

Besides being exposed to any of the modes of transmission presented above, there are additional risk factors that increase one's chance of contracting athlete's foot. Persons who have had athlete's foot before are more likely to become infected than those who have not. Adults are more likely to catch athlete's foot than children. Men have a higher chance of getting athlete's foot than women. People with diabetes or weakened immune systems are more susceptible to the disease. HIV/AIDS hampers the immune system and increases the risk of acquiring athlete's foot. Hyperhidrosis (abnormally increased sweating) increases the risk of infection and makes treatment more difficult.

Diagnosis

When visiting a doctor, the basic diagnosis procedure applies. This includes checking the patient's medical history and medical record for risk factors, a medical interview during which the doctor asks questions (such as about itching and scratching), and a physical examination. Athlete's foot can usually be diagnosed by visual inspection of the skin and by identifying less obvious symptoms such as itching of the affected area.

If the diagnosis is uncertain, direct microscopy of a potassium hydroxide preparation of a skin scraping (known as a KOH test) can confirm the diagnosis of athlete's foot and help rule out other possible causes, such as candidiasis, pitted keratolysis, erythrasma, contact dermatitis, eczema, or psoriasis. Dermatophytes known to cause athlete's foot will demonstrate multiple septate branching hyphae on microscopy.

A Wood's lamp (black light), although useful in diagnosing fungal infections of the scalp (tinea capitis), is not usually helpful in diagnosing athlete's foot, since the common dermatophytes that cause this disease do not fluoresce under ultraviolet light.

Prevention

There are several preventive foot hygiene measures that can be practiced to prevent athlete's foot and reduce recurrence. Some of these include keeping the feet dry, clipping toenails short; using a separate nail clipper for infected toenails; using socks made from well ventilated cotton or synthetic moisture wicking materials (to soak moisture away from the skin to help keep it dry); avoiding tight fitting footwear, changing socks frequently; and wearing sandals while walking through communal areas such as gym showers and locker rooms.

According to the Centers for Disease Control and Prevention, "Nails should be clipped short and kept clean. Nails can house and spread the infection." Recurrence of athlete's foot can be prevented with the use of antifungal powder on the feet.

The fungi (molds) that cause athlete's foot require warmth and moisture to survive and grow. There is an increased risk of infection with exposure to warm, moist environments (e.g., occlusive footwear—shoes or boots that enclose the feet) and in shared humid environments such as communal showers, shared pools, and treatment tubs. Chlorine bleach is a disinfectant and common household cleaner that kills mold. Cleaning surfaces with a chlorine bleach solution prevents the disease from spreading from subsequent contact. Cleaning bathtubs, showers, bathroom floors, sinks, and counters with bleach helps prevent the spread of the disease, including reinfection.

Keeping socks and shoes clean (using bleach in the wash) is one way to prevent fungi from taking hold and spreading. Avoiding the sharing of boots and shoes is another way to prevent transmission. Athlete's foot can be transmitted by sharing footwear with an infected person. Hand-me-downs and purchasing used shoes are other forms of shoe-sharing. Not sharing also applies to towels, because, though less common, fungi can be passed along on towels, especially damp ones.

Treatment

Athlete's foot resolves without medication (resolves by itself) in 30–40% of cases. Topical antifungal medication consistently produce much higher rates of cure.

Conventional treatment typically involves thoroughly washing the feet daily or twice daily, followed by the application of a topical medication. Because the outer skin layers are damaged and susceptible to reinfection, topical treatment generally continues until all layers of the skin are replaced, about 2–6 weeks after symptoms disappear. Keeping feet dry and practicing good hygiene (as described in the above section on prevention) is crucial for killing the fungus and preventing reinfection.

Treating the feet is not always enough. Once socks or shoes are infested with fungi, wearing them again can reinfect (or further infect) the feet. Socks can be effectively cleaned in the wash by adding bleach. Washing with bleach may help with shoes, but the only way to be absolutely certain that one cannot contract the disease again from a particular pair of shoes is to dispose of those shoes.

To be effective, treatment includes all infected areas (such as toenails, hands, torso, etc.). Otherwise, the infection may continue to spread, including back to treated areas. For example, leaving fungal infection of the nail untreated, may allow it to spread back to the rest of the foot, to become athlete's foot once again.

Allylamines such as terbinafine are considered more efficacious than azoles for the treatment of athlete's foot.

Severe or prolonged fungal skin infections may require treatment with oral antifungal medication.

Topical treatments

There are many topical antifungal drugs useful in the treatment of athlete's foot including: miconazole nitrate, clotrimazole, tolnaftate (a synthetic thiocarbamate), terbinafine hydrochloride, butenafine hydrochloride and undecylenic acid. The fungal infection may be treated with topical antifungal agents, which can take the form of a spray, powder, cream, or gel. Topical application of an antifungal cream such as terbinafine once daily for one week or butenafine once daily for two weeks is effective in most cases of athlete's foot and is more effective than application of miconazole or clotrimazole. Plantar-type athlete's foot is more resistant to topical treatments due to the presence of thickened hyperkeratotic skin on the sole of the foot. Keratolytic and humectant medications such as urea, salicyclic acid (Whitfield's ointment), and lactic acid are useful adjunct medications and improve penetration of antifungal agents into the thickened skin. Topical glucocorticoids are sometimes prescribed to alleviate inflammation and itching associated with the infection.

A solution of 1% potassium permanganate dissolved in hot water is an alternative to antifungal drugs. Potassium permanganate is a salt and a strong oxidizing agent.

Oral treatments

For severe or refractory cases of athlete's foot oral terbinafine is more effective than griseofulvin. Fluconazole or itraconazole may also be taken orally for severe athlete's foot infections. The most commonly reported adverse effect from these medications is gastrointestinal upset.

Epidemiology

Globally, fungal infections affect about 15% of the population and affects one out of five adults. Athlete's foot is common in individuals who wear occlusive shoes. In fact, studies show that individuals who normally go barefoot are 15 times less likely to be affected by Athlete's foot.[medical citation needed] Studies have demonstrated that men are infected 2–4 times more often than women.

See also

• Hypha – long, branching filamentous structure of a fungus. In most fungi, hyphae are the main mode of vegetative growth, and are collectively called a mycelium. Hyphae grow at their tips.
• Keratin – family of fibrous structural proteins. Keratin is the key structural material making up the outer layer of human skin. It is also the key structural component of hair and nails.
• Mycelium – vegetative part of a fungus, consisting of a mass of branching, thread-like hyphae.
• Toenail fungus, tinea unguium, an infection affecting the toenails

 

 HISTORICAL FACT OF THE WEEK

History Of Entrepreneurship

From Wikipedia, the free encyclopedia

In political economics, entrepreneurship is the process of identifying and starting a new business venture, sourcing and organizing the required resources, while taking both the risks and rewards associated with the venture.

Contents

1 Background

2 History

2.1 Etymology and historical usage

3 What is an entrepreneur

4 Influences and entrepreneurial behavior

4.1 Schumpeter

4.2 The individuals-opportunities nexus

5 Psychological make-up of the entrepreneur

5.1 Innate ability vs. public perception

5.2 Entrepreneurial styles

6 Linking to economic development

7 Financial bootstrapping

8 External financing

9 See also

Background

"Entrepreneurship" describes the establishment of new organizations or the revitalization of mature organizations in response to a perceived business opportunity. A new business is sometimes referred to as a startup company. In recent years, the term has been extended to include social and political forms of entrepreneurial activity.

Entrepreneurship within an existing firm or large organization has been referred to as intra-preneurship and may include corporate ventures where large entities spin off subsidiary organizations.

Entrepreneurs are leaders willing to take risk and exercise initiative, taking advantage of opportunities in the market by planning, organizing and making use of resources, often by innovating new or improving existing products (Johnson, 2005). More recently, the term entrepreneurship has been extended to include conceptualizations of entrepreneurship as a specific mindset (see also entrepreneurial mindset) resulting in entrepreneurial initiatives e.g. in the form of social entrepreneurship, political entrepreneurship, or knowledge entrepreneurship.

According to Paul Reynolds, founder of the Global Entrepreneurship Monitor,

"by the time they reach their retirement years, half of all working men in the United States probably have a period of self-employment of one or more years; one in four may have engaged in self-employment for six or more years. Participating in a new business creation is a common activity among U.S. workers over the course of their careers."

In recent years entrepreneurship has been documented by scholars such as David Audretsch as a major driver of economic growth in both the United States and Western Europe.

Entrepreneurial activities differ substantially depending on the type of organization and creativity involved. Entrepreneurship ranges in scale from solo, part-time projects to large-scale undertakings that create many jobs. Many "high value" entrepreneurial ventures seek venture capital or angel funding (seed money) in order to raise capital for building the business. Angel investors generally seek annualized returns of 20–30% or more, as well as extensive involvement in the business. Many organizations exist to support would-be entrepreneurs, including specialized government agencies, business incubators, science parks, and some NGOs.

Since 2008, an annual "Global Entrepreneurship Week" has been announced, with the aim of "exposing people to the benefits of entrepreneurship" and getting them to "participate in entrepreneurial-related activities".

History

Etymology and historical usage

First used in 1723, today the term entrepreneur implies qualities of leadership, initiative and innovation in manufacturing, delivery, and/or services. Economist Robert Reich has called team-building, leadership and management ability essential qualities for the entrepreneur. The successful companies of the future, he has said, will be those that offer a new model for working relationships based on collaboration and mutual value.

A entrepreneur is a factor in microeconomics, and the study of entrepreneurship reaches back to the work in the late 17th and early 18th centuries of Richard Cantillon and Adam Smith, which was foundational to classical economics.

In the 20th century, entrepreneurship was studied by Joseph Schumpeter in the 1930s and other Austrian economists such as Carl Menger, Ludwig von Mises and Friedrich von Hayek. The term "entrepreneurship" was coined around the 1920s, while the loan from French of the word entrepreneur itself dates to the 1850s. It became something of a buzzword beginning about 2010, in the context of disputes which have erupted surrounding the wake of the Great Recession.[clarification needed] Initially, economists made the first attempt to study the entrepreneurship concept in depth (Landstr?m, 2005) Richard Cantillon (1680-1734) considered the entrepreneur as a risk taker who deliberately allocates resources to exploit opportunities in order to maximise the financial return (Stevenson and Jarillo 2007, referring to Cantillon 1840). Cantillon emphasizes the willingness of the entrepreneur to assume risk, and to deal with uncertainty, thus, he draws attention to the function of the entrepreneur, and distinguishes clearly between the function of the entrepreneur and the owner who provides the money (Landstr?m 2005, referring to Cantillon 1840). Alfred Marshall (1961) viewed the entrepreneur as multitasks capitalist; and he realised that in the equilibrium of a completely competitive market, there was no spot for “entrepreneurs” as an economic activity creator.

What is an entrepreneur

Entrepreneur ( i/??ntr?pr??n?r/), is a loanword from French. It is defined as an individual who organizes or operates a business or businesses. Credit for coining the term entrepreneur generally goes to the French economist Jean-Baptiste Say, but in fact the Irish-French economist Richard Cantillon defined it first in his Essai sur la Nature du Commerce en Général, or Essay on the Nature of Trade in General, a book William Stanley Jevons considered the "cradle of political economy" Cantillon used the term differently, however. Cantillon biographer Anthony Breer notes that Cantillon saw the entrepreneur as a risk-taker while Say considered the entrepreneur a "planner".

Cantillon defined the term as a person who pays a certain price for a product and resells it at an uncertain price: "making decisions about obtaining and using the resources while consequently admitting the risk of enterprise." The word first appeared in the French dictionary entitled "Dictionnaire Universel de Commerce" compiled by Jacques des Bruslons and published in 1723.

An entrepreneur should have the ability and personality to lead a business in a positive direction by proper planning, be able to adapt to the changing environment, and understand one's own strengths and weakness.

A Chronological List of the Definition of 'Entrepreneur'

• 1734: Richard Cantillon: Entrepreneurs are non-fixed income earners who pay known costs of production but earn uncertain incomes,
• 1803: Jean-Baptiste Say: An entrepreneur is an economic agent who unites all means of production- land of one, the labour of another and the capital of yet another and thus produces a product. By selling the product in the market he pays rent of land, wages to labour, interest on capital and what remains is his profit. He shifts economic resources out of an area of lower and into an area of higher productivity and greater yield.
• 1934: Schumpeter: Entrepreneurs are innovators who use a process of shattering the status quo of the existing products and services, to set up new products, new services.
• 1961: David McClelland: An entrepreneur is a person with a high need for achievement [N-Ach]. He is energetic and a moderate risk taker.
• 1964: Peter Drucker: An entrepreneur searches for change, responds to it and exploits opportunities. Innovation is a specific tool of an entrepreneur hence an effective entrepreneur converts a source into a resource.
• 1971: Kilby: Emphasizes the role of an imitator entrepreneur who does not innovate but imitates technologies innovated by others. Are very important in developing economies.
• 1975: Howard H. Stevenson of Harvard Business School: entrepreneurship is the pursuit of opportunity without regard to resources currently controlled.
• 1975: Albert Shapero: Entrepreneurs take initiative, accept risk of failure and have an internal locus of control.
• 2013: Ronald May: An Entrepreneur is someone who commercializes his or her innovation.

The appellation today implies a bootstrap operation and some degree of both innovation and financial risk.

Influences and entrepreneurial behavior

The entrepreneur is commonly seen as an innovator — a generator of new ideas and business processes. Management skill and strong team building abilities are often perceived as essential leadership attributes for successful entrepreneurs. Political economist Robert Reich considers leadership, management ability, and team-building to be essential qualities of an entrepreneur.

Schumpeter

According to Schumpeter, an entrepreneur is willing and able to convert a new idea or invention into a successful innovation. Entrepreneurship employs what Schumpeter called "the gale of creative destruction" to replace in whole or in part inferior offerings across markets and industries, simultaneously creating new products and new business models. Thus, creative destruction is largely responsible for the dynamism of industry and long-term economic growth. The idea that entrepreneurship leads to economic growth is an interpretation of the residual in endogenous growth theory and as such is hotly debated in academic economics. An alternate description posited by Israel Kirzner suggests that the majority of innovations may be much more incremental improvements such as the replacement of paper with plastic in the construction of a drinking straw.

For Schumpeter, entrepreneurship resulted in new industries but also in new combinations of currently existing inputs. Schumpeter's initial example of this was the combination of a steam engine and then current wagon making technologies to produce the horseless carriage. In this case the innovation, the car, was transformational but did not require the development of a new technology, merely the application of existing technologies in a novel manner. It did not immediately replace the horsedrawn carriage, but in time, incremental improvements which reduced the cost and improved the technology led to the complete practical replacement of beast drawn vehicles in modern transportation. Despite Schumpeter's early 20th-century contributions, traditional microeconomic theory did not formally consider the entrepreneur in its theoretical frameworks (instead assuming that resources would find each other through a price system). In this treatment the entrepreneur was an implied but unspecified actor, but it is consistent with the concept of the entrepreneur being the agent of x-efficiency.

Different scholars have described entrepreneurs as, among other things, bearing risk. For Schumpeter, the entrepreneur did not bear risk: the capitalist did. Joseph A. Schumpeter (1934) believed that the equilibrium ideal was imperfect Schumpeter (1934) demonstrated that changing environment continuously provides new information about the optimum allocation of resources to enhance profitability some individuals acquire the new information before others, recombine the resources to gain an entrepreneurial profit (Schumpeter, 1934) Schumpeter of the opinion that entrepreneurs shift the Production Possibility Carve to a higher level using innovations (Schumpeter, 1934)

For Frank H. Knight (1921) and Peter Drucker (1970), entrepreneurship is about taking risk. The behavior of the entrepreneur reflects a kind of person willing to put his or her career and financial security on the line and take risks in the name of an idea, spending much time as well as capital on an uncertain venture.

Knight classified three types of uncertainty.

• Risk, which is measurable statistically (such as the probability of drawing a red color ball from a jar containing 5 red balls and 5 white balls).
• Ambiguity, which is hard to measure statistically (such as the probability of drawing a red ball from a jar containing 5 red balls but with an unknown number of white balls).
• True Uncertainty or Knightian Uncertainty, which is impossible to estimate or predict statistically, such as the probability of drawing a red ball from a jar whose number of red balls is unknown as well as the number of other colored balls.

The acts of entrepreneurship are often associated with true uncertainty, particularly when it involves bringing something really novel to the world, whose market never exists. However, even if a market already exists, there is no guarantee that a market exists for a particular new player in the cola category.

The place of the disharmony-creating and idiosyncratic entrepreneur in traditional economic theory (which describes many efficiency-based ratios assuming uniform outputs) presents theoretic quandaries. William Baumol has added greatly to this area of economic theory and was recently honored for it at the 2006 annual meeting of the American Economic Association.

The individuals-opportunities nexus

The contemporary study of entrepreneurship is significantly defined by the agenda-setting article of Shane and Venkataraman in 2000 named The Promise of Entrepreneurship as a Field of Research. According to Shane and Venkataraman, entrepreneurship comprises two phenomena "enterprising individuals" and "entrepreneurial opportunities", and researchers should study the nature of the individuals who respond to these opportunities when others do not, the opportunities themselves and the nexus between individuals and opportunities.

Psychological make-up of the entrepreneur

Studies show that the psychological propensities for male and female entrepreneurs are more similar than different. Empirical studies suggest that male entrepreneurs possess strong negotiating skills and consensus-forming abilities.

Jesper S?rensen, Professor of Organizational Behavior at Stanford Graduate School of Business, wrote that significant influences on an individual's decision to become an entrepreneur are workplace peers and the social composition of the workplace. S?rensen discovered a correlation between working with former entrepreneurs and how often these individuals become entrepreneurs themselves, compared to those who did not work with entrepreneurs. The social composition of the workplace can influence entrepreneurism in workplace peers by proving a possibility for success, causing a “He can do it, why can’t I?” attitude. As S?rensen stated, “When you meet others who have gone out on their own, it doesn’t seem that crazy.”

Innovative entrepreneurs may be more likely to experience what psychologist, Mihaly Csikszentmihalyi calls flow. Flow occurs when the outside world disappears in the face of a vibrant inner motivation to do something. Csikszentmihalyi suggests that breakthrough innovations occur at the hands of individuals experiencing flow. They become so enthralled with the ideas in their heads that they cannot help but follow them. Similarly, other research has concluded that a strong internal motivation is a vital ingredient for breakthrough innovation. Flow may also be compared to Maria Montessori’s concept of normalization, a state which includes a child’s capacity for joyful and lengthy periods of intense concentration. Csikszentmihalyi himself acknowledges that Montessori’s prepared environment offers children opportunities to achieve flow. Thus quality and type of early education may have some influence on entrepreneurial capability.

Innate ability vs. public perception

Individuals use what is described as "an innate ability" or quasi-statistical sense to gauge public opinion. People assume they can sense and figure out what others are thinking.

The Mass media play a large part in determining what the dominant opinion is, since our direct observation is limited to a small percentage of the population. The mass media have an enormous impact on how public opinion is portrayed, and can dramatically impact an individual's perception about where public opinion lies, whether or not that portrayal is factual.

The ability of entrepreneurs to innovate relates to innate traits, including extroversion and a proclivity for risk-taking. According to Joseph Schumpeter, the capabilities of innovating, introducing new technologies, increasing efficiency and productivity, or generating new products or services, are characteristic qualities of entrepreneurs. Also, many scholars maintain that entrepreneurship is a matter of genes, and that it is not everyone who can be an entrepreneur.

It has, however, been argued that entrepreneurs are not that distinctive; and that it is essentially poor conceptualizations of "non-entrepreneurs" that maintain laudatory portraits of "entrepreneurs."

Entrepreneurial styles

Differences in entrepreneurial organizations often partially reflect their founders' heterogenous identities. Fauchart and Gruber have classified entrepreneurs into three main types: Darwinians, Communitarians and Missionaries. These types of entrepreneurs diverge in fundamental ways in their self-views, social motivations, and patterns of new firm creation.

Linking to economic development

Most of the scholars agree that entrepreneurs in small firms employ employees and generate employment and income places a vital link between entrepreneurship and economic development. As earlier mentioned most of the small firms are very innovative and develop new technologies, products, and services which also benefits the economy. On the contrary some of the academic researchers, politicians and economists argue that it is just the opposite. According to them entrepreneurs come up because of economic growth as there was a survey conducted showing a higher rate of entrepreneurs in developed countries than in underdeveloped countries. Instead countries with an unbalanced economy had more demand for jobs other than being an entrepreneur.

Financial bootstrapping

Financial bootstrapping is a term used to cover different methods for avoiding using the financial resources of external investors. Bootstrapping can be defined as “a collection of methods used to minimize the amount of outside debt and equity financing needed from banks and investors”. The use of private credit card debt is the most known form of bootstrapping, but a wide variety of methods are available for entrepreneurs. While bootstrapping involves a risk for the founders, the absence of any other stakeholder gives the founders more freedom to develop the company. Many successful companies including Dell Computers and Facebook were founded this way.

There are different types of bootstrapping:

• Owner financing
• Sweat equity
• Minimization of the accounts payable
• Joint utilization
• Delaying payment
• Minimizing inventory
• Subsidy finance
• Personal Debt

External financing

Many businesses need more capital than can be provided by the owners themselves, and in this case, a range of options is available including:

• Angel investors
• Venture capital investors.
• Crowd funding
• Hedge funds
• Alternative Asset Management

Some of these sources provide not only funds, but also financial oversight, accountability for carrying out tasks and meeting milestones, and in some cases business contacts and experience – in many cases in return for an equity stake.

See also

       Economics portal

• Book: Entrepreneurship
• List of entrepreneurs
• Business opportunity
• Corporate social entrepreneurship
• Entrepreneurship ecosystem
• University spin-off
• Spiral of silence
• Small Business Administration
• Business Administration
• Innovation

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