ASSESSMENT OF GLOBAL GREAT ENTREPRENEURS' LIFE: LESSON FOR NEW ENTREPRENEURS FOR SUCCESS IN 21ST CENTURY

Norwegian Journal of development of the International Science No 167/2025 105 SOCIAL SCIENCES ASSESSMENT OF GLOBAL GREAT ENTREPRENEURS’ LIFE: LESSON FOR NEW ENTREPRENEURS FOR SUCCESS IN 21ST CENTURY Dr. Hossain K. Vice Chancellor, Bangladesh Maritime University Dhaka, Bangladesh https://doi.org/10.5281/zenodo.17492594 Abstract World resource is limited and always there is a constraint. Any founders of venture/business can control only their own human, social, and financial capital at a new venture’s outset or startup. Entrepreneurship is a long, challenging journey, not an overnight success story. Great entrepreneurs emphasize qualities like motivation, innovation, passion, patience, balance, self-confidence, and embracing failure as a learning opportunity, rather than a setback. They focus on a long-term vision over quick riches, prioritizing customers and their product or service over investors and they always take some amount of risk. New founders of a venture/business can learn to adopt an entrepreneurial mindset, demonstrate unwavering commitment, be flexible and adaptable, maintain brilliant communication, and stay focused on providing value to the world to build a long-lasting, purposeful and successful business. Execution risk relates to the entrepreneur’s ability to attract employees and partners who can implement the venture’s plans. The potential of entrepreneurship to drive economic growth is significant, applicable to individual nations and the global landscape, provided that favorable conditions are in place and individuals pursue entrepreneurship with the appropriate motivations. Entrepreneurs, whether operating independently or collaboratively, identify opportunities within both their personal and professional spheres. They develop hypotheses regarding methods to provide value to customers and conduct systematic experiments to verify their concepts in 21st century, where technological advancement is crucial. Innovation and tech modernization frequently correlate with successful entrepreneurship. Many entrepreneurs bootstrap and they keep expenditures to a bare minimum while investing only their own time and their personal funds. In some cases, this is adequate to bring a new venture to the point where it becomes self-sustaining from internally generated cash flow. With most high-potential ventures, however, founders must mobilize more resources than they control personally and the venture eventually will require production facilities, distribution channels, working capital, and many more. This investigative paper will assess the life of great entrepreneurs around the globe and analyses their grooming, struggling and developing narrative along with their successful story and ideas for success of new entrepreneurs. Keywords: Venture, Entrepreneur, entrepreneurship, innovation, technology, risk, success 1. Introduction The English word entrepreneur originates from the French word "entreprendre," meaning "to undertake," which leaves considerable scope for creativity and significance in its application. 22 Stevenson, widely known as an expert and a professor and pioneer in entrepreneurship studies at Harvard Business School (HBS), has defined entrepreneurship as the “pursuit of opportunity beyond resources controlled.” 23 Entrepreneurship encompasses a diverse array of fields, including economics and incentives, markets, management and opportunity, processes, sociology and influence, norms, psychology and motivation, anthropology and history, values and culture, regionalism, regulation and firm structure, research and development, as well as technology and engineering, among others. They develop hypotheses regarding methods to provide value to customers and conduct systematic experiments to verify their concepts. 24 Tom Eisenmann, another HBS professor, explains that "beyond resources 22 https://link.springer.com/article/10.1007/s11301-02000193-7, accessed on 12 Sep 2025 23 https://www.amazon.com/Howards-Gift-Uncommon-Wisdom-Inspire/dp/1250004241/, accessed on 12 Sep 2025 24 https://www.amazon.com/Howards-Gift-Uncommon-Wisdom-Inspire/dp/1250004241/, accessed on 25 Sep 2025 controlled" means resource limitations. The founders of a new business are solely responsible for their own financial, social, and human resources at the outset. Many entrepreneurs employ a strategy known as "bootstrapping," in which they invest their own time and, if necessary, their personal funds, while keeping expenses to a minimum. 25 Stanford University's Stanford Center provides a little more straightforward definition for Professional Development: "At its core, entrepreneurship pertains to an individual or a small consortium of partners who embark on an innovative venture to establish a new business. An individual with entrepreneurial aspirations diligently pursues a specific business opportunity, taking on the highest level of risk linked to the endeavor. This individual is likely to benefit the most if the project is successful. 26 Joseph Schumpeter, a former professor at Harvard University and Austrian political 25 https://hbr.org/2013/01/what-is-entrepreneurship, accessed on 12 Jul 2025 26 https://online.stanford.edu/what-is-entrepreneurship, accessed on 12 Jul 2025 106 Norwegian Journal of development of the International Science No 167/2025 economist and Finance Minister, 27 stated, "The fundamental impulse that keeps the capital engine in motion comes from the new consumers' goods, the new methods of production and transportation, and the new markets (which are known as the process) continually revolutionize from within, incessantly destroying the old one and incessantly creating a new one." The fundamental reality of capitalism is this process of Creative Destruction. 28 Entrepreneurship is widely recognized as a key driver of economic progress. 29 Entrepreneurship is a broad term that encompasses the initiation of a new venture. However, scholars and policymakers have been in controversy for an extended period regarding its precise definition. An entrepreneur is a person who starts a new venture, taking on the majority of the risks and receiving the majority of the rewards. Social entrepreneurship may endeavor to generate both financial gain and societal benefit; however, the outcomes are frequently inconsistent. 30 The history of the word entrepreneurship is fascinating and scholars have indeed parsed its meaning. 31 Many profit improvement opportunities are not novel–and thus are not entrepreneurial–for example, raising a product’s price or, once a firm has a scalable sales strategy, hiring more reps. 32 New entrepreneurs should create a business that makes a positive impact on the world, and the financial rewards will often follow. Financing risk relates to whether external capital will be available on reasonable terms. New entrepreneur’s task is to manage this uncertainty, while recognizing that certain risks cannot be influenced by their actions. 33 Adam Smith's theory of economic growth is based on the notion that a country's prosperity is determined by its whole output, rather than just gold or agriculture. He thought that economic progress is driven by higher productivity, principally through labor division or work specialization and capital accumulation. 34 Smith's theory emphasizes free markets, competition, and self-interest as drivers of economic growth. Within this framework, entrepreneurial activity is a fundamental force for global development. Consequently, the study of entrepreneurship 27 Shionoya, Yuichi (2007). Schumpeter and the Idea of Social Science: A Metatheoretical Study. Cambridge University Press. p. 14. ISBN 978-0521037969, accessed on 12 Jul 2025 28 Reisman, David A. (2004). Schumpeter's Market: Enterprise and Evolution. Cheltenham: Edward Elgar Publishing. p. 4. ISBN 978-1845420857, accessed on 12 Jul 2025 29 https://ageconsearch.umn.edu/record/49270/?ln=en#:~:text=Economic%20growth%20may%20have%20a,a%20larger%20nu mber%20of%20people, accessed on 12 Jul 2025 30 “Entrepreneurship: A Survey of the Literature,” David Audretsch, European Commission, 2003, accessed on 12 Jul 2025 31 Albulescu CT, Draghici A (2016) Entrepreneurial activity and national innovative capacity in selected European countries. Int J Entrep Innov 17:155–172, available at: https://doi.org/10.1177/1465750316655902, accessed on 25 Sep 2025 32 Acs ZJ, Audretsch DB, Lehmann EE (2013) The knowledge spillover theory of entrepreneurship. Small Bus Econ 41:757–774, available at: https://doi.org/10.1007/s11187-013-9505-9, accessed on 25 Sep 2025 has expanded beyond business and economics into numerous disciplines. This intellectual diffusion has resulted in a fractured, yet rapidly growing, field of study. Its academic origins are often traced to Joseph Schumpeter's arrival at Harvard University in 1932. In 1946, he established the Research Center for Entrepreneurial History in collaboration with Arthur Cole. 35 The next year, Myles Mace gave 188 Harvard Business School students what might have been the first entrepreneurship course in the United States. 36 Entrepreneurship education (EE) refers to specialized training designed to equip students with the knowledge, skills, and motivation to pursue entrepreneurial success across various disciplines. Since its inception, the integration of such programs within higher education has seen remarkable growth. Nevertheless, EE is accessible at all levels of education, from primary or secondary institutions to graduate university programs. 37 Entrepreneurs are passionate and fully engaged in everything they do. They believe in themselves, remain dedicated, and have strong confidence in their projects. At times, this focus and conviction may come across as stubbornness, but it is balanced by their dedication and consistent discipline. 38 When he has a deep passion for his work and the confidence to succeed, it is essential to pair it with disciplined execution. Successful entrepreneurs are known for their exceptional discipline, which in their chosen endeavors can often be compared to military-grade precision. 39 Being objective in his business is never easy, especially when he is deeply passionate about its success. However, it is essential to remain dispassionate and impartial when making decisions, as bias, sentiment, and emotion can ultimately lead to poor choices. 40 One of the most important qualities of entrepreneurs is self-discipline. Being self-disciplined means putting in the necessary work even when he doesn’t feel like it. For those balancing a day job alongside a startup, this often involves working long hours to ensure the business receives the attention it needs to thrive. There will be times when he needs to motivate himself to wake up early or stay up late to 33 https://hbr.org/2013/01/what-is-entrepreneurship, accessed on 25 Sep 2025 34 Spengler, J. J. (1959), ‘Adam Smith’s theory of economic growth Part II’. Southern Economic Journal 26, 1–12. 35 Hughes, J. (1986), The Vital Few: The Entrepreneur and American Economic Progress. Oxford: Oxford University Press 36 Katz, J. A. (2003), ‘A chronology and intellectual trajectory of American entrepreneurship education: 1876–1999’. Journal of Business Venturing 18, 283–300, accessed on 12 Jul 2025 37 https://www.igi-global.com/dictionary/gender-and-entrepreneurship-in-developing-economies/72294, accessed on 12 Jul 2025 38 https://ceoentrepreneur.com/are-successful-entrepreneursborn-or-made/, accessed on 14 Jul 2025 39 Ruangkrit, S. and Thechatakerng, P. (2015). Characteristics of Community Entrepreneurs in Chiangmai. Thailand. World Journal of Management. 6(1): 58 – 74, accessed on 23 Aug 2025 40 https://quasa.io/media/34-characteristics-of-successful-entrepreneurs, accessed on 23 Aug 2025 Norwegian Journal of development of the International Science No 167/2025 107 move his venture forward. 41 While self-discipline is essential, it is equally important to maintain balance and avoid overworking to the point of burnout. Entrepreneurs also possess a growth mindset—the belief that skills and intelligence can be developed over time. While some qualities may come naturally to certain individuals, continuous personal development is what ultimately drives success. He can cultivate a growth mindset by reframing failure as a learning opportunity, recognizing his limitations, and setting clear goals for self-improvement. 42 Entrepreneurship can fuel economic growth under the right conditions and when people become entrepreneurs for the right reasons. It's not a magic bullet for economic growth, however, particularly in less-developed economies. 43 Technical, social and small product/industrial entrepreneurship can attempt to deliver both profits and societal good although often with mixed results. 44 The level of economic development of a country can affect whether entrepreneurship will lead to greater economic growth there. Entrepreneurship is related to starting a business. Its precise definition has long been a matter of debate among scholars and policymakers. 45 We live in an era in which innovation and entrepreneurship seem omnipresent and global in nature, particularly in the area like Silicon Valley or Research. But many metrics of economic growth, such as productivity growth and business dynamism, have been at best modest in recent years. 46 The resolution of this apparent paradox is dramatic heterogeneity across sectors, with some industries seeing robust innovation and entrepreneurship and others seeing stagnation. 47 By construction, the impact of innovation and entrepreneurship on overall economic performance is the cumulative impact of their effects on individual sectors. Understanding the potential for growth in the aggregate economy depends, therefore, on understanding the sector-by-sector potential for growth. 48 For successful en41 Zhao, H., Seibert, S. E., & Hills, G. E. (2005). The mediating role of self-efficacy in the development of entrepreneurial intentions. Journal of Applied Psychology, 90(6), 1265–1272, accessed on 23 Aug 2025 42 https://www.businesspartners.co.za/the-four-most-common-traits-of-successful-entrepreneurs-with-examples/, accessed on 23 Aug 2025 43 Atems B, Shand G (2018) An empirical analysis of the relationship between entrepreneurship and income inequality. Small Bus Econ 51:905–922. https://doi.org/10.1007/s11187017-9984-1, accessed on 25 Sep 2025 44 https://www.nber.org/books-and-chapters/role-innovationand-entrepreneurship-economic-growth, accessed on 12 Sep 2025 45 Alvarez SA, Barney JB (2014) Entrepreneurial opportunities and poverty alleviation. Entrep Theory Pract 38:159–184, available at: https://doi.org/10.1111/etap.12078, accessed on 25 Sep 2025 46 Andersson M, Noseleit F (2011) Start-ups and employment dynamics within and across sectors. Small Bus Econ 36:461– 483. https://doi.org/10.1007/s11187-009-9252-0, accessed on 25 Sep 2025 47 Acs ZJ, Varga A (2005) Entrepreneurship, agglomeration and technological change. Small Bus Econ 24:323–334, available at: https://doi.org/10.1007/s11187-005-1998-4, accessed on 25 Sep 2025 trepreneurs, competition often serves as a key motivator. 49 Competitiveness drives them to continually ask why customers would choose their business over others, and the answer lies in their ability to succeed. Good communication is crucial for exchanging information accurately, especially in today’s fast-moving world, using various methods including both electronic and interpersonal channels. 50 New entrepreneurs need to cultivate confidence in their ideas and their ability to overcome challenges. Successful entrepreneurs are optimistic and consistently focus on the positive aspects of any situation. They strive to improve in everything they do, taking calculated risks and seeing opportunities in every challenge. Instead of dwelling on the negatives, an entrepreneur concentrates on the potential benefits and solutions. 51 Entrepreneurship is never a one-person endeavor, even for solo entrepreneurs. No matter how skilled he is, the support of a talented and reliable team is essential. Without a capable team, entrepreneurs may fall behind on achieving their milestones. 52 Having the right team can be a decisive factor in the success of a venture. Successful entrepreneurs typically begin any project with a strong team that helps them make a significant impact. 53 Trust and honesty is essential in business. Entrepreneurs with high integrity not only follow ethical practices but are also transparent and honest in all their interactions. This fosters trust and builds longterm relationships, which are crucial for business growth and sustainability. The business environment is constantly evolving, with new challenges arising regularly. New entrepreneur needs to remains flexible and adaptable, adjusting strategies based on feedback and changing circumstances while keeping their ultimate goals in focus. 54 This investigative paper will assess the life of great entrepreneurs around the globe and analyses their grooming, growth, struggling and developing narrative along with their successful story as entrepre48 Acs ZJ, Armington C (2004) Employment growth and entrepreneurial activity in cities. Reg Stud 38:911–927, available at: https://doi.org/10.1080/0034340042000280938, accessed on 25 Sep 2025 49 Thomke, S. H. (2020). Experimentation works: The surprising power of business experiments. Harvard Business Press 50 https://www.nu.edu/blog/skills-needed-to-be-an-entrepreneur/, accessed on 23 Aug 2025 51 Zuzul, T., & Edmondson, A. C. (2017). The advocacy trap: When legitimacy building inhibits organizational learning. Academy of Management Discoveries, 3(3), 302–321, accessed on 23 Aug 2025 52 Zott, C., & Huy, Q. N. (2007). How entrepreneurs use symbolic management to acquire resources. Administrative Science Quarterly, 52(1), 70–105, accessed on 23 Aug 2025 53 Carrie, M., Van Stel, A., Thurik, R., & Wennekers, S. (2002). Economic development and business ownership: an analysis using data of 23 OEDC countries in the period 19761996. Small Business Economics. 19(3): 271-290, accessed on 23 Aug 2025 54 https://www.quora.com/What-are-some-qualities-of-agreat-business-owner-manager-What-makes-them-successful-and-what-can-we-learn-from-them-to-be-more-successful-ourselves, accessed on 23 Aug 2025 108 Norwegian Journal of development of the International Science No 167/2025 neurs. This analytical article will evaluate entrepreneurship in global perspective on basis of the story of great entrepreneurs along with analysis of literature, history, lesson learn of successful entrepreneurs, their thought, story, life, along with discussion/connection of owner, CEOs, managers, of firm/organization (around the globe), professional, advisers, teachers, researchers, consultant, public and private government official, and many more. There will be discussion on the ideas and lessons from great entrepreneurs’ life and which will be useful for new entrepreneurs success in 21st century. 2.1 Research Gap In 21st century, an entrepreneur is a person who identifies a need or a want and starts a business to fill that void. And he/she provides little insight into the specific quality and attributes that makes his/her thrive as an entrepreneur and that is appropriate for anyone who is doing business in this era. Entrepreneurship is a critically important driver of economic development and has undergone significant changes over time. Traditional entrepreneurship relies on proven methods and heavily depends on established business models and personal savings. According to a Small Business Administration (SBA) study, 75% of traditional small businesses are funded through individual savings, loans, and grants. This approach typically involves physical locations and direct interactions with customers. Whereas modern entrepreneurship is different from traditional entrepreneurship. It is shaped by innovation and agility and uses technology and digital platforms. According to a report by Statista, 62% of startups use digital marketing as their primary way to get new customers. Today crowdfunding and venture capital are also crucial for successful entrepreneurs. 55 At a fundamental level, all entrepreneurs try to overcome adversity to pursue opportunity with limited resources. According to the U.S. Bureau of Labor Statistics (BLS) states that about 20% of new businesses fail in their first year, 30% within two years, 45% within five years, and 65% within ten years. 56 The road to success as entrepreneurs is often long and lonely, with brutal hours, massive amounts of stress, and lots of personal/family sacrifice and debt. The benefit to become entrepreneurs is very distinguished and prestigious as it gives us the freedom to become our own boss and the creator of our own future. Again, there exists a clear deficiency in comprehending understanding of modern thinking of entrepreneurship along with relation between technology and economic development with entrepreneurship in modern era. We must know how to develop contemporary entrepreneurs for success in 55 https://eimrglobal.org/traditional-entrepreneurship-vsmodern-entrepreneurship/, accessed on 25 Sep 2025 56 https://www.bls.gov/bdm/us_age_naics_00_table7.txt, accessed on 25 Sep 2025 57 Watson, John B. (1913). "Psychology as the Behaviorist Views It". Psychological Review. 20 (2): 158– 177. doi:10.1037/h0074428. hdl:21.11116/0000-0001-91827. S2CID 145372026, accessed on 08 Aug 2025 58 Skinner, B. F. (1972). Beyond Freedom and Dignity. Vintage Books. ISBN 978-0-553-143720. OCLC 34263003, accessed on 13 Sep 2025 59 Bandura, A. (2006). "Toward a Psychology of Human Agency". Perspectives on Psychological Science. 1 (2): 164– modern age. This discrepancy between theoretical frameworks and practical application reveals a significant gap. So, useful research may conduct to address the relation between technology and economic development with entrepreneurship as a global perspective. This investigative paper will evaluate the life of great entrepreneurs around the globe and analyses their life struggling and grooming narrative along with their successful story as entrepreneurs. 2.2 Research Questions a. What is the concept of entrepreneurship in historical and global perspective? b. What are the benefits and challenges of technology in 21st Century c. What are the story and narrative of (selective) great global entrepreneurs? d. What are the lessons of (selective) great global entrepreneurs for new entrepreneurs? e. How to develop of new entrepreneurs for success in 21st century? 3. Literature Review and Methodology There is a comprehensive understanding of the activities that entrepreneurs undertake and the genuine factors that drive a venture to succeed is not currently available. This evaluation and summary of current scholarship is based on a methodical review of literature encompassing several hundred empirical studies and an examination of the biographies of several hundred prosperous entrepreneurs, connecting their actions and cognition to business outcomes. Theories of behaviorism, for instance, those put forward by Watson (1924) 57 and Skinner (1953) 58 , contend that an individual's traits are molded by their surroundings and processes of learning. The capacity for people to develop entrepreneurial abilities by building confidence and learning from their actions is emphasized in Bandura’s (1977) 59 concept of self-efficacy. The viewpoint that entrepreneurial competencies are acquired through formal education, mentorship, and experiential learning is supported by contemporary research 60 . Furthermore, current analyses emphasize the way expertise within an industry and professional connections boost entrepreneurial achievement, particularly for more mature entrepreneurs, which strengthens the idea that entrepreneurship is developed progressively. 61 Although some innate personality characteristics might provide a benefit, the field of entrepreneurship is mainly formed by acquired knowledge, hands-on experience, and external influences. The conclusion that entrepreneurs are more often made than born is supported by many academic literatures. 62 80. doi:10.1111/j.1745-6916.2006. 00011.x. PMID 26151469, accessed on 08 Aug 2025 60 Nicholls-Nixon, C., & L., Cooper, A. C., & Woo, C. Y. (2000). Strategic experimentation: Understanding change and performance in new ventures. Journal of Business Venturing, 15(5), 493–521. https:// doi. org/ 10. 1016/S08839026(98) 00018-4, accessed on 08 Aug 2025 61 https://ideas.repec.org/top/top.country.downloads.html, accessed on 08 Aug 2025 62 Shane, S., & Venkataraman, S. (2010). The promise of entrepreneurship as a field of research. The Academy of Management Review, 25(1), 217–226, accessed on 08 Aug 2025 Norwegian Journal of development of the International Science No 167/2025 109 The utilization of literature reviews as a formal research methodology holds increased relevance and critical importance within modern fields of study such as entrepreneurship. Conventional approaches to reviewing literature frequently suffer from a lack of rigor and systematic process, being performed in an ad hoc manner without adherence to a defined procedure. 63 These reviews fulfill a vital function as a foundational element for all research endeavors. They are capable of acting as a platform for the advancement of knowledge, establishing frameworks to guide policy and practice, and furnishing proof of an effect; when executed proficiently, they also possess the potential to generate novel concepts and trajectories for a specific discipline. 64 Furthermore, they provide the foundational justification for subsequent research and theoretical development. When confidence exists that an investigation is constructed upon a base of high accuracy, it becomes significantly more feasible to pinpoint genuine gaps in the research rather than perpetually replicating previous studies, to formulate superior and more exact hypotheses and questions, and, as a result, to elevate the collective standard of research quality. 65 Consequently, it is essential to maintain a clear research question from the outset and to guarantee the selection of an appropriate methodological approach to address the specific research problem. This paper of the process involves a careful examination of different studies including literature. The focus is on the methods they used, like research on twins and the study of personality traits. Along with the literature review, a content analysis is also done. This analysis uses a collection of important publications about entrepreneurship. These include works by famous experts like Druker (1985) 66 , Gladwell (2008) 67 , and Sarasvathy (2001) 68 , 69 Interviews and case studies of successful entrepreneurs are also used. These provide reallife examples of how experience and networks are important for success. 70 A wide range of literature on entrepreneurship has been thoroughly reviewed, including both the history of entrepreneurship and contemporary views from academic and practical perspectives. This paper presents the key literature used to support the conclusions. Again, Harvard Business School has made a significant impact on the field of entrepreneurship through historical research and the development of 63 Boyd and Solarino, 2016 B.K. Boyd, A.M. Solarino Ownership of corporations: A review, synthesis, and research agenda Journal of Management, 42 (2016), pp. 12821314, 10.1177/0149206316633746, accessed on 27 Sep 2025 64 Carlborg et al., 2014 P. Carlborg, D. Kindström, C. Kowalkowski The evolution of service innovation research: A critical review and synthesis The Service Industries Journal, 34 (5) (2014), pp. 373398, 10.1080/02642069.2013.780044, accessed on 27 Sep 2025 65 Covington, 2000 M.V. Covington Goal theory, motivation, and school achievement: An integrative review Annual Review of Psychology, 51 (2000), pp. 171200, 10.1146/annurev.psych.51.1.171, accessed on 27 Sep 2025 66 Drucker, P. F. (1985). Innovation and Entrepreneurship. Harper & Row, accessed on 27 Sep 2025 various schools of thought. The institution's emphasis on business history, notably via the Harvard Research Center in Entrepreneurial History, has influenced perceptions of entrepreneurial functioning within extensive economic and social frameworks. In addition, Harvard professors have developed ideas such as the "Harvard School" hypothesis, which examines how internal and external factors interact to facilitate entrepreneurial success. 71 This Harvard Business School center played a pivotal role in promoting research on the historical role of entrepreneurs. Entrepreneurship as a historical phenomenon has been dramatically influenced by historians affiliated with the center, such as Arthur Cole and Joseph A. Schumpeter. 72 The center's research examined how entrepreneurship has evolved over time and how entrepreneurs have impacted economic growth and social transformation in various periods. This historical approach offered significant insights into the enduring patterns and dynamics of entrepreneurship, influencing both scholarly study and pragmatic commercial practices. 73 Harvard has made numerous contributions to entrepreneurship, including the development of theoretical frameworks, historical research, and hands-on educational initiatives. This comprehensive strategy has solidified Harvard's standing as a preeminent university in the field. In 21st century, a new wave of entrepreneurship research was sparked by Schumpeter's theory of economic development and the notion of entrepreneurship that was part of it. However, reactions from twentiethcentury writers have been fairly divergent. At Harvard University, Schumpeter's academic foundation in the United States gave rise to a tradition of studying entrepreneurship through the lens of economic history. Other scholars have focused on the analytics of Schumpeter's theory, namely, whether the entrepreneur is an equilibrating or disequilibrating force. Other writers distinguish themselves along neoclassical and Austrian lines. In this section, we will explore and discuss the various methods, as well as the writers who developed them. Following Schumpeter's examination of economic history, a tradition of historical studies of entrepreneurship emerged at Harvard University's Research Center in Entrepreneurial History, founded by Arthur 67 Gladwell, M. (2008). Outliers: The Story of Success. Little, Brown and Company, accessed on 27 Sep 2025 68 Sarasvathy, S. D. (2001). Effectuation: Toward a theory of entrepreneurial expertise. The Academy of Management Review, 26(2), 243–263, accessed on 27 Sep 2025 69 Wilkinson, A. (2015). The Creator's Code: The Six Essential Skills of Extraordinary Entrepreneurs. Simon & Schuster, accessed on 27 Sep 2025 70 Kotler, S. (2021). The Art of Impossible: A Peak Performance Primer. Harper Wave, accessed on 27 Sep 2025 71 https://www.rethinkingentrepreneurship.com/entrepreneurship-annotated-bibliogr/three-waves-of-research-on-historical-entrepreneurship, accessed on 10 June 2025 72 https://www.researchgate.net/publication/39731185_A_Conceptual_History_of_Entrepreneurial_Thought#, 73 https://www.sbs.strath.ac.uk/newsletter/2022-11/09.asp#, accessed on 12 Sep 2025 110 Norwegian Journal of development of the International Science No 167/2025 H. Cole (1889-1974). 74 Edwin influenced Cole’s interest in entrepreneurship and his views on the subject. F. Gay (1867– 1946), founder of the Economic History Association and a follower of Schumpeter. The entrepreneur, as a destabilizing force of change, holds a significant position in Gay's philosophy of history, which posits that the degree of allowable free competition in society fluctuates according to social necessity. In this system of free competition, the entrepreneur is a selfcentered actor and a disruptive force, as noted by Gay (1923–1924), 75 “there are periods in the rhythm of history when ... that disruptive, innovating energy is socially advantageous and must be given freer opportunity.” Entrepreneurs create history, according to G. L. S. Shackle (1903–1992), who lived across the Atlantic. Shackle concentrated on the psychological process of making decisions in the business environment. 76 Shackle (1955) defined two tasks that must be performed early on in his inquiry into the character and substance of economic businesses. One deals with uncertainty, and the other makes choices. These two jobs are connected because making decisions requires improvisation or innovation, which can only occur in a world full of unknowns and uncertainties. Shackle was at his finest when he explained what business decisions are and how people might act within them. He was a smart Marshallian who criticized orthodox economic theory for not recognizing Marshall's most important finding: the importance of time in the realm of affairs. Shackle claimed that time weaves a historical tapestry, and the strands of that tapestry are the results of people's choices. Consequently, “we assume that we bear responsibility for our actions; that these actions are fundamentally creative, initiatory, and the origin of historical innovation; that each action represents, in a sense, the independent commencement of a new thread in the tapestry woven by time” (Shackle, 1966, p. 73). 77 Shackle perceives his study as an extension of a Keynesian issue, specifically the factors influencing corporate investment. He discovered a fundamental discrepancy within the Keynesian framework. He referred to Keynes's General Theory as "a paradox, for its central concern is with uncertainty, decisions based on conjecture, and situations altogether lacking in objective stability, yet it uses an equilibrium method" (Shackle, 1955, p. 222). 78 In reaction to this anomaly, Shackle jettisons the equilibrium method – a radical stroke which probably accounts for the failure of mainstream economics to take him more seriously. Shackle’s faithful followers are relatively few. The most prominent is Ludwig Lachmann, who also exhibits strong Austrian tendencies. Nobel laureate T. W. 74 Cole, A. H. (1946), ‘An approach to the study of entrepreneurship: A tribute to Edwin F. Gay’. Journal of Economic History 6, 1–15, accessed on 10 June 2025 75 Gay, E. F. (1923–1924), ‘The rhythm of history’. Harvard Graduates’ Magazine 32, 1–16, accessed on 10 June 2025 76 Shackle, G. L. S. (1966), The Nature of Economic Thought. Cambridge: Cambridge University Press 77 Ibid 78 Ibid 79 Schultz, T. W. (1980), ‘Investment in entrepreneurial ability’. Scandinavian Journal of Economics 82, 437–448, accessed on 10 June 2025 Schultz (1902–1998) 79 has advanced a theory of entrepreneurship that is fully within the neoclassical paradigm. In contemporary economic literature, Schultz observes a persistent failure to recognize the benefits that accrue to those who facilitate economic equilibration, particularly in nonmarket activities. Schultz, a pioneer in the human capital theory, approached entrepreneurship from this perspective. He criticized the conventional concept and treatment of entrepreneurship on four primary grounds: (1) the concept is typically limited to businessmen, (2) it fails to account for the differences in allocative abilities among entrepreneurs, (3) the supply of entrepreneurship is not treated as a scarce resource, and (4) entrepreneurship is disregarded when general equilibrium considerations dominate economic inquiry (Schultz, 1975, p. 832). 80 Schultz made two significant moves. He began by redefining entrepreneurship as "the ability to deal with disequilibria," and he expanded the idea to include both market and nonmarket activities (such as time allocation and family decisions). Second, he presented data showing how education affects people's perceptions and responses to disequilibrium. He maintained that Schumpeter's formulation fell short. "If economic growth is considered 'progress,'" stated Schultz (1975, p. 832), 81 “it is a process beset with various classes of disequilibria.” Schumpeter's entrepreneur "creates developmental disequilibria," but he did not effectively apply this concept to "all manner of other disequilibria," such as laborers reallocating their labor, or students, housewives, and consumers reallocating their resources, primarily time. In the 1930s, several second-generation Austrian economists left Europe before the ominous shadow of Hitler's Third Reich spread across the continent. Friedrich Hayek (1889–1992) 82 went to London. Ludwig von Mises (1881–1972) 83 and Joseph Schumpeter, both students of B¨ Böhm-Bawerk, came to America. Schumpeter soon found a place to work in the United States, while Mises had a hard time. He eventually became a professor at New York University as part of a unique agreement. There, he became the leader of Austrian economics, reaching out to a small but smart group of students and supporters. The concept of a standard supply curve for entrepreneurial talent emerged as a significant point of debate between Kirzner (1979) 84 and Schultz. Schultz 80 Schultz, T. W. (1975), ‘The value of the ability to deal with disequilibria’. Journal of Economic Literature 13, 827–846, accessed on 10 June 2025 81 Ibid 82 Hughes, J. (1986), The Vital Few: The Entrepreneur and American Economic Progress. Oxford: Oxford University Press 83 von Mises, L. (1949), Human Action: A Treatise on Economics. New Haven, CT: Yale University Press 84 Kirzner, I. M. (1979b), Perception, Opportunity, and Profit: Studies in the Theory of Entrepreneurship. Chicago: University of Chicago Press Norwegian Journal of development of the International Science No 167/2025 111 (1980, p. 439) 85 criticized Kirzner for neglecting entrepreneurship as a scarce resource (i.e., failure to treat it in terms of a supply curve). According to Kirzner, entrepreneurship, or attentiveness, is a human quality that can exist or not. 86 Kirzner believes that awareness, like beauty, cannot be substantially enhanced once nature has conferred its particular allotments. Despite their basic disagreement, Kirzner and Schultz's theories address several crucial concerns. 87 Both authors regard the entrepreneur as an individual who identifies the potential for profit in a state of disequilibrium and responds accordingly. Both of them think that the idea is quite important and covers a lot more ground than it has been shown to do in economic writing up to this point. The distinctions between the two theories are predominantly established on methodological rather than analytical criteria. Kirzner and other neo-Austrian economists offer a theoretical alternative to neoclassical economics' general equilibrium paradigm. Their perspective emphasizes change, inaccuracy, and defects in markets and human decision-making, rejecting the comparative-statics, perfect-markets view of economic activity. Their challenge to the prevailing paradigm is not the only one, however, as we have demonstrated that Clark, Schumpeter, and Shackle have all made successful attempts to critique and offer alternative perspectives on the neoclassical framework. The concept of X-efficiency, developed by Harvey Leibenstein (1922-1994) 88 , is another contemporary challenge that has emerged from outside the German group. Leibenstein's paradigm appears to converge with Austrian theory at several crucial points; yet, neo-Austrian theorists have expressed reservations over its analytical efficacy. Neo-Austrians often regard Leibenstein's concept of entrepreneurship as only an intriguing aspect of the economic landscape, rather than a fundamental component of the economic process. Kirzner (1979a, p. 142) 89 has written that Leibenstein’s entrepreneurship “is a feature that indeed seems to come into focus when observed through the X-efficiency lens, but the X-efficiency paradigm can be presented without any special reference to entrepreneurs.” Neo-Austrians, on the other hand, see the entrepreneur as the key to comprehending all economic events. The entrepreneur's thoughts and actions elucidate the occurrences within the disequilibrium situation. Schumpeter's theory of economic growth, which emphasized the role of the entrepreneur, led to several studies at Harvard University and beyond that sought to contextualize the entrepreneur within a historical framework. However, over the majority of the 20th century, ideas regarding the nature 85 Schultz, T. W. (1980), ‘Investment in entrepreneurial ability’. Scandinavian Journal of Economics 82, 437–448, accessed on 10 June 2025 86 Kirzner, I. M. (1973), Competition & Entrepreneurship. Chicago: University of Chicago Press 87 Kirzner, I. M. (1985), Discovery and the Capitalist Process. Chicago: University of Chicago Press 88 Leibenstein, H. (1979b), ‘The general X-efficiency paradigm and the role of the entrepreneur’. In Time, Uncertainty and Disequilibrium, Rizzo, M. (ed.). Lexington, MA: D. C. Heath, accessed on 10 June 2025 89 Kirzner, I. M. (1979a), ‘Comment: X-inefficiency, error, and the scope for entrepreneurship’. In Time, Uncertainty and and function of entrepreneurship predominantly concentrated on one of two issues: the dichotomy between risk and uncertainty, or the contrast between equilibration and disequilibrium. Now we are in 21st century, these problems remain largely unsolved. Still, writers in the 20th century tended to broaden the definition of entrepreneurship to the point where practically any economic action that involves uncertainty or changing disequilibria has some entrepreneurial aspect. There are two fundamental explanations offered by economic theory and tradition for why things are produced and distributed in the ways that they are. According to one theory, the pricing mechanism serves as the integrative force and resource allocator in a market economy. According to another, this role is carried out by the entrepreneur. Ronald Coase (1910–1975) was the first economist to question why the entrepreneur, an integrating force, should replace the price system and economic development of nation and globe. In a pioneering article, The Nature of the Firm, Coase (1937) 90 questioned why firms are commonly used as resource allocation mechanisms, when economic theory dictates that the price mechanism is an efficient allocator in competitive markets. If the competitive price system is an efficient allocator of resources, why do we have firms? And given that firms exist, does their presence imply market failure or the absence of competition? On the other hand, Arrow (1974) 91 and Williamson (1975), 92 Some people have said that the existence of economic organizations shows that the market isn't working. Coase utilized the Marshallian theory of substitution at the margin to examine the internal dynamics of organizations in addressing these inquiries. He said that businesses exist because the price system makes things more expensive, but administrative procedures can make them less costly or even eliminate them. There are many other types of costs, but to Coase, the most important one was the cost of determining the right prices in a market system. 93 The majority of the other expenditures he discovered are contract and transaction costs for various exchanges. According to Coase, production can be arranged via the pricing mechanism, an impersonal method of resource allocation, or a company's administrative channels under the direction of one or more people we'll refer to as entrepreneurs. Malmgren's (1961) careful exposition of the costs associated with allocating resources through the price system improved Coase's analysis. Uncertain input pricing and market flaws are the main causes of these expenses. Malmgren (1961, p. 399) 94 concluded that “the market operates Disequilibrium, Rizzo, M. (ed.). Lexington, MA: D. C. Heath, accessed on 10 June 2025 90 Coase, R. H. (1937), ‘The nature of the firm’. Economica N.S. 4, 386 405, accessed on 10 June 2025 91 Arrow, K. J. (1974), The Limits of Organization. New York: W. W. Norton 92 Williamson, O. E. (1975), Markets and Hierarchies. New York: The Free Press 93 Williamson, O. E. (1985), The Economic Institutions of Capitalism. New York: The Free Press 94 Malmgren, H. B. (1961), ‘Information, expectations and the theory of the firm’. Quarterly Journal of Economics 75, 399–421, accessed on 10 June 2025 112 Norwegian Journal of development of the International Science No 167/2025 between firms, but the entrepreneur is the planning and coordinating agent within the bounds of any one firm.” Unlike Coase, he emphasized uncertainty, but confined it to input prices and quantities. Both Coase and Malgrem considered the final end of the production process as fixed, so the entrepreneur’s judgment in either case does not extend to the choice of which product to produce. According to Knight, the rise of the entrepreneur class brings about major changes in the basic form of business organization of a nation. When things are unpredictable, a firm cannot simply leave the organization to chance or rely on a simple formula. Business owners must make their own choices. Companies must recognize that individuals differ in terms of intelligence, judgment, and willingness to take risks. To make informed decisions, a successful firm needs to establish an effective organizational structure. Knight (1921, pp. 269–270) states that it achieves this by encouraging the brave and confident to confront the danger that the unsure and scared wish to avoid. In short, entrepreneurs "insure" the latter group by promising them a certain amount of money in exchange for a percentage of the business's profits. The Knightian firm exists because the real world doesn't meet all of the conditions for competitive equilibrium that economic theory says it should. Knight believed that the price system is good at dividing up resources between different uses, but it doesn't set the pattern of those uses. Entrepreneurs do that. So, the heart of entrepreneurship is making decisions based on not knowing what will happen. “Any degree of effective exercise of judgment, or making decisions,” Knight (1921, p. 271) 95 wrote, “is in a free society coupled with a corresponding degree of uncertainty-bearing, of taking the responsibility for those decisions.” The entrepreneur's collateral promises of set compensation to resource suppliers are an expression of this obligation. Knight shared Schumpeter's interest in elucidating the nature of economic advancement in a market system, which is primarily composed of businesses and entrepreneurs. He used the term "firm" to refer to a fundamental type of business structure where the entrepreneur assumes responsibility, control, and direction. According to Knight (1921, p. 353), contracting alone does not fully represent the role of the entrepreneur 96 because “In the world as it is the interests affected by contracts are never all represented in the agreements.” Knight thinks that entrepreneurs are more than just contractors. They are experts at dealing with uncertainty, and while the contract is one way to lessen it, some ambiguity can never be fully removed. Knight (1921, p. 283) posits that the number of enterprises is contingent, among other factors, on the availability of entrepreneurial abilities. Knight's thesis provided a fair analysis of the roles that risk-taking and risk-management play. Because it did not restrict the firm's ability to offer interim guarantees to its owners, 95 Knight, F. H. (1921), Risk, Uncertainty and Profit. New York: Houghton Mifflin, accessed on 10 June 2025 96 Ibid 97 Ibid 98 Stauss, J. H. (1944), ‘The entrepreneur: The firm’. Journal of Political Economy 52, 112–127, accessed on 10 June 2025 it established a broad class of entrepreneurs. In fact, finding the role of ultimate control in a Knightian company may require a significant climb up the management structure. Knight stated that selecting the individuals who will make the necessary decisions to run the company is the key responsibility of management. A hierarchy of functionaries serves as the fundamental framework for the decision-making organization, with individuals at each higher level appointing the functionaries below them. Therefore, each functionary transfers economic responsibility to a higher level until it ultimately falls on the controlling functionaries (i.e., the guarantors of the contractual remuneration of resource suppliers) by leaving the repercussions of their actions to their selectors. For Knight (1921), 97 only this last decision is crucial; all subordinate decisions are routine, and consequently, non-entrepreneurial. Some researchers viewed that companies that operate well tend to develop, and bigger companies tend to have strict standards on how people should act. The notion of the corporation as the entrepreneur is likely to face opposition based on methodological individualism. Stauss (1944, p. 126) 98 rejected the notion that the firm is a mere aggregation of decision makers having a collective will be expressed through a system of working rules. Instead, he suggested treating the company as an accounting entity for the sake of general economic research and as a specific, tangible organization when addressing particular difficulties. However, he did not clarify how to make this dual concept of the company operative in economic theory, and it is nearly impossible to detect any indication of Stauss's influence on other authors after more than 40 years. Therefore, in the first half of the 20th century, there was a significant debate over the distinction between the entrepreneur and the firm, as well as whether they could be interchangeable. These issues remain a topic of debate among modern economists. Since the idea of personality different from humans is resisted in most places, the sentiment appears to be maintaining a distinction—albeit an imprecise one— rather than combining the two into one. The relationship—whether symbiotic or not—between the entrepreneur and the type of business organization in which he operates has been brought to light by the controversy surrounding this topic. Drucker's earliest and favorite mentor was his father's acquaintance, the Austrian economist Joseph Schumpeter, who instilled in Drucker the value of creativity and entrepreneurship. 99 Peter Drucker fought for the rights and well-being of all people throughout his long and successful career. Drucker believed that everyone should be treated with respect, have a sense of dignity, a significant role in society, and some freedom. Drucker also advised managers that while caring for employees is vital, productivity and success are what ultimately drive businesses forward (Murphy 2023). 100 99 Beatty, Jack (1998). The World According to Peter Drucker. The Free Press. ISBN 978-0-684-83801-4, accessed on 14 Jul 2025 100 Murphy, Glenn (2023). Delivering on Drucker’s Call to Action. Strategic Finance, Volume 104, Issue 7, Jan. 2023, accessed on 10 June 2025 Norwegian Journal of development of the International Science No 167/2025 113 Drucker states that successful entrepreneurs are committed to making innovation work and that innovation is the very foundation of entrepreneurship. He thought that innovation isn't so much about being smart as it is about finding and taking advantage of opportunities to be innovative (Drucker 2013). 101 To highlight Drucker's view that successful organizations are creative and productive and contribute immensely to economic development. Drucker narrates entrepreneurship as "any business that engages in innovation," not simply small or new enterprises. Innovation is the attempt to make meaningful, targeted changes to a business's economic or social potential. In other terms, innovation is change that leads to greater results. One may argue that Drucker sees innovation and entrepreneurship as synonymous. In his essay titled The Discipline of Innovation (Drucker 2013), 102 Drucker states that most successful innovations result from a conscious, purposeful search for innovation opportunities. Within a business or industry, Drucker identifies seven areas of potential. These include: unexpected events, inconsistencies, procedure requirements, Market and industry shifts, demographic shifts, perception shifts, and new information. The development of the first modern accounting computer by IBM in the early 1930s is an example of an unexpected event. Although banks were not purchasing new equipment at the time, it was developed with them in mind. Luckily, one of the devices was purchased by the New York Public Library. As a result, additional libraries purchased over 100 machines. Rather than losing money, IBM's success increased. Drucker provides further examples of unforeseen events that led to profitable inventions. Because mistakes or problems can lead to valuable inventions, Drucker advises firms to concentrate as much on arising problems as on possible opportunities in their monthly and quarterly reports. Many renowned researchers found that the skill to create new things, take chances, and lead well is built through focused effort and constant learning. This supports the idea that entrepreneurs are made, not born. 103 Some people say today's great entrepreneurs, like Elon Musk, had an easy start. Others say genes are not important. Musk himself said, 'I believe the simple answer to the age-old question is that entrepreneurs are made, not born.' To be successful, entrepreneurs need education (which does not have to be formal) and experience. These are not qualities a person is born with. We all know stories about big companies that failed when the children of the founder took over. Other people did not get a business from their family and were not born rich. They started with nothing and learned how to build a successful business. 104 Skills for entrepreneurship are viewed as very important for a business to grow and 101 Drucker, Peter (2013). The Discipline of Innovation Chapter in On Innovation, Harvard Business Review, 2013, 102 Ibid 103 https://ideas.repec.org/a/ajn/abrjou/v10y2025i3p4549id315.html, accessed on 12 Aug 2025 104 Aparicio, S., Urbano, D. and Audretsch, D., 2016. ‘Institutional factors, opportunity entrepreneurship and economic growth: panel data evidence’, Technological Forecasting and Social Change, 102: 45– 61 https://doi.org/10.1016/j.techfore.2015.04.006, accessed on 29 Sep 2025 succeed. In fact, government groups and others use the idea of entrepreneurial skills in their work to help the economy and business. However, the main idea of these skills, how to measure them, and how they connect to business performance needs more careful research and use in the real world. 105 This paper presents a complete learning material for all entrepreneurs. It is for young or old; small or big; new or experienced; public or private; just starting or finishing. It is for any entrepreneurship or venture to help them succeed and handle challenges, struggles, risk, and failure. To answer the research questions well, this study uses a mixedmethod design. It combines both qualitative and quantitative methods. It also uses serious and wide reading of previous literature and studies. This gives a full understanding of entrepreneurship and entrepreneur quality around the world. 106 This paper also talks about important insights with through reviewing literature and focused group discussions. It also includes a critical study and their views of all-time great entrepreneurs from around the globe. The study looks at their life, struggle, education, thoughts, views, ideas, and advice. This can show the path for modern entrepreneurial activities to ensure lasting economic growth and development. To effectively address the research questions, this study adopts a mixed-method research design, integrating both qualitative and quantitative approaches along with serious and extensive literature and previous studies to provide a multi-dimensional understanding of entrepreneurship and its relation with technology and economic development in a global context. It is an analytical article and it will evaluate the relation of entrepreneurship with economic growth and technology as a global viewpoint. This paper will also discuss about the development of entrepreneurs in technological enhancement in the modern era. 3.1 Secondary Data Collection and Analysis of Historical Concept Comprehensive desk research was conducted to collect secondary data from authoritative sources such as literature, books, journals, recent studies, successful entrepreneurs’ experiences of local and global entrepreneurs along with own experience and perspective as 105 https://www.emerald.com/ijebr/article-abstract/16/2/92/119106/Entrepreneurial-competencies-a-literature-review?redirectedFrom=fulltext, accessed on 12 Aug 2025 106 Atems, B. and Shand, G., 2018. ‘An empirical analysis of the relationship between entrepreneurship and income inequality’, Small Business Economics, 51: 905– 922 https://doi.org/10.1007/s11187-017-9984-1, accessed on 29 Sep 2025 120 Norwegian Journal of development of the International Science No 167/2025 as its impact on people's day to day lives evolves. 163 In fact, IoT is critical for operating large-scale businesses and the service industry in the twenty-first century. Furthermore, it was shown that IoT has a considerable impact on decision-making and corporate operation management. 164 Figure 3: AI and future of life 165 and working relationship between human and robots 166 In 21st century, AI has been around everywhere for a great deal of time. The benefit of AI is steadily improving our everyday life. The technology is being used for robots that welcome at shopping centers or online search engines for offering suggestions. 167 Today, AI simulates human analysis in AI systems. It is the ability of the computer program to think and learn. Everything can be taken to be AI, if it involves a program that does something and that we usually think depends on human intelligence. Innovations in the AI space have led to several benefits across multiple industries and different sectors. 168 Now, AI has been around everywhere for a great deal of time. The benefit of AI is steadily improving our everyday life. The technology is being used for robots that welcome at shopping centers or online search engines for offering suggestions. 169 Today, AI simulates human analysis in AI systems. It is the ability of the computer program to think and learn. Everything can be taken to be AI, if it involves a program that does something and that we usually think depends on human intelligence. Innovations in the AI space have led to several benefits across multiple industries. 170 5.2 Prospect and Impact of AI and Robot in 21st Century AI refers to systems that display intelligent behavior by analyzing their environment and taking actions with some sort of autonomy to attain specific goals. AIbased systems can be purely software-based, acting in the virtual world like voice assistants, image analysis 163 What is IoT: The Internet of Things explained | McKinsey.https://www.mckinsey.com/featured-insights/mckinseyexplainers/what-is-the-internet-of-things, accessed on 31 May 2023 164 http://it-in-industry.org/index.php/itii/article/view/702,accessed on 31 May 2023 165 https://stock.adobe.com/tw/search?k=%22future+world%22, accessed on 27Aug 2025 166 https://robinmarkphillips.com/marriage-humans-robotspart-2/, accessed on 21 Aug 2025 167 Housman M., (2018), Why ‘Augmented Intelligence’ Is a Better Way to Describe AI, AINews, 2018, accessed on 23 Jul 2023 168 Jordan M.I., (2015), Mitchell, T.M. Machine learning: Trends, perspectives, and prospects. Science 2015, 349, 255– 260, accessed on 29 June 2023 169 Housman, M., (2018), Why ‘Augmented Intelligence’ Is a Better Way to Describe AI, AINews, 2018, accessed on 27Aug 2023 software, search engines, speech and face recognition systems; or AI can be embedded in hardware devices like advanced robots, autonomous cars, drones or Internet of Things (IoTs) applications. In the first decades of the 21st century, highly mathematical and statistical ML has dominated the field, and this technique has proved high success and helping to solve many challenging problems throughout industry and academia. 171 The traditional goals of AI research include reasoning, knowledge representation, planning, learning, natural language processing, perception, and the ability to move and manipulate objects. 172 General intelligence as the ability to solve an arbitrary problem and is among the field's long-term goals. 173 AI researchers have adapted and incorporated a wide range of problem solving techniques, like, search and mathematical optimization, formal logic, artificial neural networks, and methodologies based on statistics, probability, and economics, to solve these difficulties. AI also employs computer science, psychology, medicine, healthcare, language, philosophy, and a variety of other disciplines. 174 AI applications include advanced web search engines (like Google, Bing, Baidu, Yahoo), recommendation systems (like YouTube, Amazon, Netflix), understanding human speech (like Sire, Alexa), self-driving cars (like Waymo, AutoX, Cruise, Motional, Manga International), generative or creative tools (like ChatGPT, Microsoft Bing, Google Bard 170 Jordan, M.I.; Mitchell, T.M. Machine learning: Trends, perspectives, and prospects. Science 2015, 349, 255–260 171 Russell Stuart J., et al., (2009), Artificial Intelligence: A Modern Approach (3rd ed.). Upper Saddle River, New Jersey: Prentice Hall, ISBN 978-0-13-604259-4, accessed on 23 Jul 2023 172 Crevier Daniel, (1993), AI: The Tumultuous Search for Artificial Intelligence, New York, NY: Basic Books, ISBN 0465-02997-3, accessed on 23 Jul 2023 173 Newquist HP, (1994), The Brain Makers: Genius, Ego, And Greed In The Quest For Machines That Think. New York: Macmillan/SAMS, ISBN 978-0-672-30412-5, accessed on 23 Jul 2023 174 Poole David, et al., (2017), Artificial Intelligence: Foundations of Computational Agents (2nd ed.), Cambridge University Press, ISBN 978-1-107-19539-4, accessed on 23 Jul 2023 Norwegian Journal of development of the International Science No 167/2025 121 AI, Perplexity AI, AI art, Amazon Codewhisperer), automated decision-making, and competing at the highest level in strategic game systems (like chess, Go, Arimaa, Dameo). 175 In future AI affect, like optical character recognition is frequently omitted from things considered to be AI, having become a routine technology. 176 Today, there are also thousands of successful AI applications used to solve problems for specific industries or institutions. A few examples are energy storage, 177 deepfakes, 178 medical diagnosis, military logistics, foreign policy, 179 or supply chain management. AI will have a greater impact on technology in the future, by influencing every sector, machinery, equipment, and devices. With a 99% accuracy rate, AI has been applied in facial recognition systems. For example, of such are Apple's FaceID and Android's Face Unlock. Those two are employed in the protection of mobile devices. Google has utilized image labeling to detect products in photographs and to allow customers to search using a photo. It has also been shown to generate speech in order to describe visuals to blind persons. 180 It can predict or simplify the behavior of customers from their digital footprints. 181 Online gambling companies, use AI to improve customer targeting. 182 AI has been used to customize shopping options and personalize offers. 183 Intelligent personal assistants use AI to understand many natural language requests in other ways than elementary commands. For examples: Apple's Sire, Amazon's Alexa, and a more recent AI, ChatGPT by OpenAI. 184 ML can be used to fight against spam, scams, and 175 Nilsson Nils, (1998), Artificial Intelligence: A New Synthesis. Morgan Kaufmann, ISBN 978-1-55860-467-4, accessed on 23 Jul 2023 176 Russell Stuart J., et al., (2003), Artificial Intelligence: A Modern Approach (2nd ed.), Upper Saddle River, New Jersey: Prentice Hall, ISBN 0-13-790395-2, accessed on 23 Jul 2023 177 Frangoul Anmar, (14 June 2019). "A Californian business is using A.I. to change the way we think about energy storage", CNBC, accessed on 23 Jul 2023 178 Brown Eileen, (5 November 2019). "Half of Americans do not believe deepfake news could target them online", ZDNet, accessed on 23 Jul 2023 179 Stephen Chen, (30 Jul 2018), "Artificial intelligence, immune to fear or favour, is helping to make China's foreign policy | South China Morning Post", 25 March 2023 180 Heath Nick, (11 December 2020). "What is AI? Everything you need to know about Artificial Intelligence". ZDNet, accessed on 23 Jul 2023 181 Matz S. C., et al., (28 November 2017), "Psychological targeting as an effective approach to digital mass persuasion", Proceedings of the National Academy of Sciences of the United States of America, 114 (48): 12714–12719, accessed on 23 Jul 2023 182 Busby Mattha, (30 April 2018), "Revealed: how bookies use AI to keep gamblers hooked". The Guardian, accessed on 23 Jul 2023 183 BBC News, (9 November 2020), How artificial intelligence may be making you buy things, accessed on 23 Jul 2023 184 Rowinski Dan, (15 January 2013), Virtual Personal Assistants & The Future Of Your Smartphone (Infographic), ReadWrite, accessed on 23 Jul 2023 phishing. It can scrutinize the contents of spam and phishing attacks to identify any malicious elements. 185 AI has been used to automatically translate spoken language and written content. 186 Additionally, research and development is in progress to interpret and conduct animal communication. 187 While no system provides the ideal of fully automatic high-quality machine translation of unrestricted text, many fully automated systems produce reasonable output. 188 AIs is going to produced superhuman in near future results in many games, like chess (DeepBlue), Jeopardy (Watson), 189 Go (AlphaGo), 190 poker (Pluribus and Cepheus), 191 E-sports (StarCraft), 192 AlphaZero, MuZero). 193 AI has replaced hand-coded algorithms in most chess programs. 194 However, poker lacks the perfect information of go or chess. Therefore, a poker playing program must be able to reason while facing unknowns. Players in the general population function based on information provided by the game system, rather than on the rules themselves. Institutions using AI to address global economic and social concerns are being supported by a new ITU effort called AI for Good. The University of Southern California has established the Centre for AI in Society to apply AI to social issues like homelessness. AI is being used by Stanford University to analyze satellite photos in search of pockets of concentrated poverty. 195 In agriculture, AI has 185 Galego Hernandes, et al, (December 2021), "Phishing Detection Using URL-based XAI Techniques", 2021 IEEE Symposium Series on Computational Intelligence (SSCI): 01–06, accessed on 23 Jul 2023 186 Clark Jack, (8 December 2015). "Why 2015 Was a Breakthrough Year in Artificial Intelligence". Bloomberg L.P 187 The Guardian, (1 Aug 2022), Can artificial intelligence really help us talk to the animals?, The Guardian, original on 31 Aug 2022, accessed on 23 Jul 2023 188 Melby Alan, (1995), The Possibility of Language, Amsterdam: Benjamins, 1995, 27–41, Benjamins.com. 1995, ISBN 9789027216144, accessed on 23 Jul 2023 189 Markoff John, (16 February 2011), "Computer Wins on 'Jeopardy' Trivial, It's Not". The New York Times, accessed on 23 Jul 2023 190 Steven Borowiec, et al., (12 March 2016), AlphaGo beats human Go champ in milestone for artificial intelligence, Los Angeles Times, accessed on 23 Jul 2023 191 Bowling Michael, (9 January 2015), Heads-up limit hold'em poker is solved,Science. 347 (6218): 145–149, accessed on 23 Jul 2023 192 WIRED, (9 Oct 2017), Facebook Quietly Enters StarCraft War for AI Bots, and Loses, WIRED, 2017, available at https://www.wired.com/story/facebook-quietly-entersstarcraft-war-for-ai-bots-and-loses/, accessed on 23 Jul 2023 193 The Guardian, (16 February 2016), The superhero of artificial intelligence: can this genius keep it in check?, accessed on 23 Jul 2023 194 K Bharath, (2 April 2021), AI In Chess: The Evolution of Artificial Intelligence In Chess Engines, Medium, accessed on 23 Jul 2023 195 OFA INTELLIGENCE, (2016), Preparing for the future of artificial intelligence, National Science and Technology Council, OCLC 965620122, accessed on 23 Jul 2023 122 Norwegian Journal of development of the International Science No 167/2025 helped farmers identify areas that need irrigation, fertilization, pesticide treatments or increasing yield. 196 Today, agronomists use AI to conduct research and development. AI has also been used to predict the ripening time for crops such as tomatoes, 197 monitor soil moisture, operate agricultural robots, conduct predictive analytics, 198 classify livestock pig and cow call emotions, automate greenhouses, 199 detect diseases and pests, 200 save water 201 , etc. In future AI will be used to completely automate most cyber security operations over time. 202 AI can create a dysfunctional situation with revenge effects, 203 like technology that hinders students' ability to stay on task. 204 AI can provide early prediction of student success in a virtual learning environment (VLE) like Moodle. 205 In the education process, students can personalize their training with the help of AI. And for teaching professionals, the technology provided by AI can improve the quality of the educational process and teaching skills. 206 AI is used to aid investment decisions at large financial firms. Aladdin, BlackRock's AI engine are used by the firm and its customers alike to make better investing choices. SQREEM (Sequential Quantum Reduction and Extrac196 Gambhire Akshaya, et al., (8 April 2020). Use of Artificial Intelligence in Agriculture, Proceedings of the 3rd International Conference on Advances in Science & Technology (ICAST) 2020, SSRN 3571733, accessed on 23 Jul 2023 197 Intellias, (04 Aug 2023), AI in Agriculture, The Future of Firming, available at https://intellias.com/artificial-intelligence-in-agriculture/, accessed on 23 Jul 2023 198 Zhavoronkov Alex, (1 January 2019), "Artificial intelligence for aging and longevity research: Recent advances and perspectives", Ageing Research Reviews, 49: 49– 66. doi:10.1016/j.arr.2018.11.003, accessed on 21 Jul 2023 199 Moreno Millán M., et al., (1 November 2011), "Population, Poverty, Production, Food Security, Food Sovereignty, Biotechnology and Sustainable Development: Challenges for the XXI Century", Bulletin of University of Agricultural Sciences and Veterinary Medicine Cluj-Napoca.Veterinary Medicine. 1 (68), accessed on 21 Jul 2023 200 Talaviya Tanha, et al., (2020),"Implementation of artificial intelligence in agriculture for optimisation of irrigation and application of pesticides and herbicides". Artificial Intelligence in Agriculture, 4: 58–73, accessed on 21 Jul 2023 201 Olick Diana, (2022-04-18), "How robots and indoor farming can help save water and grow crops year round". CNBC, accessed on 21 Jul 2023 202 VentureBeat, (6 Sep 2020), How AI will automate cybersecurity in the post-COVID world, available at https://venturebeat.com/business/how-ai-will-automate-cybersecurityin-the-post-covid-world/, accessed on 21 Jul 2023 203 Anabel Quan Haase, (2020), TECHNOLOGY AND SOCIETY: social networks, power, and inequality. Oxford University Press. ISBN 978-0-19-903225-9, accessed on 21 Jul 2023 tion Model) is a data mining tool used by financial institutions like UBS and Deutsche Bank to create client profiles and better tailor wealth management offerings to individual clients. 207 Its functions include the use of natural language processing to analyze text like, news, broker reports, and social media feeds. Banks use AI to organize operations, for book-keeping, investing in stocks, and managing properties. AI can react to changes when business is not taking place. 208 Today, AI is used to combat fraud and financial crimes by monitoring behavioral patterns for any abnormal changes or anomalies. 209 The use of AI in applications such as online trading and decision making has changed major economic theories. 210 For example, AI-based buying and selling platforms estimate individualized demand and supply curves and thus enable individualized pricing. AI machines reduce information asymmetry in the market and make markets more efficient. 211 Many banks, funds, and proprietary trading firms now have entire portfolios that are AImanaged. Automated trading systems are typically used by large institutional investors but include smaller firms trading with their own AI systems. 212 There is a large array of applications where AI is serving common people in their day-to-day lives. 204 Richtel Matt, (21 November 2010), "Growing Up Digital, Wired for Distraction", The New York Times, accessed on 21 Jul 2023 205 Chen Hsing Chung, et al., (January 2022), "Week-Wise Student Performance Early Prediction in Virtual Learning Environment Using a Deep Explainable Artificial Intelligence", Applied Sciences. 12 (4): 1885, accessed on 21 Jul 2023 206 Yuskovych Zhukovska, et al., (23 Mar 2022), "Application of Artificial Intelligence in Education.Problems and Opportunities for Sustainable Development", BRAIN: Broad Research in Artificial Intelligence and Neuroscience. 13 (1Sup1): 339–356, accessed on 23 Jul 2023 207 Americanbanker, (5 Jan 2017), Beyond Robo-Advisers: How AI Could Rewire Wealth Management. 5 January 2017, accessed on 23 Jul 2023 208 O'Neill Eleanor, (31 July 2016), "Accounting, automation and AI", icas.com, Archived from the original on 18 November 2016, accessed on 23 Jul 2023 209 Chapman Lizette, (7 January 2019), "Palantir once mocked the idea of salespeople. Now it's hiring them". Los Angeles Times, accessed on 21 Jul 2023 210 Marwala Tshilidzi, et al., (2017), Artificial Intelligence and Economic Theory: Skynet in the Market. London: Springer. ISBN 978-3-319-66104-9 211 Marwala Tshilidzi, et al., (2017), "Efficient Market Hypothesis", Artificial Intelligence and Economic Theory: Skynet in the Market, Cham: Springer International Publishing, doi:10.1007/978-3-319-66104-9_9 212 Investopedia, (2005(, Algorithmic Trading, Investopedia, original 18 May 2005, accessed on 23 Jul 2023 Norwegian Journal of development of the International Science No 167/2025 123 Figure 4: Benefit of AI in automobiles 213 and in healthcare 214 The explosion of technology in the modern era has coincided with an equally seismic shift in how we think and talk about it. AI is so advanced technology that can replicate the human brain or intelligence. It allows computer programs to learn from experience through iterative processing and algorithmic training. Every day, AI has become more practical and innovative in almost all aspects of life. AI has become a crucial issue in the modern era, as it might affect the job market and general employment. Most individuals wish to claim that the widespread usage of AI would result in employment losses for people. 215 However, People are gradually realizing that AI can improve the creative, lucrative, constructive, adaptable, and accessible nature of professions. AI could lead to a more innovative, diversified, and skilled economy. 216 We must need to change the education system, including the curriculum, teaching methods, and many things that need to be done for schooling. Our mass or general education system needs to be aligned with modern and advanced technology, which will change the whole school system and must be purposeful and sustainable for the long term. It is an analytical study in which the researcher has tried to evaluate the diversified use of AI and robots and the consequences for the human future, emphasizing the global education system. Robotics, AI, and machine learning have advanced significantly in recent years. Automation and extensive use of AI can help organizations, companies, or industries do better in production or service by reducing errors, improving quality and speed, accuracy and integrity, and, in most cases, achieving results that are impossible for humans. 217 Again, advances in AI and related automation technologies have led to growing fears about job losses and increasing inequality in society. This concern is widespread in high-income countries. Developing countries and emerging market economies should be even more concerned than highincome countries, as their comparative advantage in the world economy relies on abundant labour and natural resources. 218 Additionally, declining labour and natural resource returns, as well as the winner-take-all dynamics brought on by new information technologies, may lead to a further loss of control in the developing and labour-intensive world. This has the potential to slow the rapid progress made over the last fifty years. It may also jeopardize progress toward reducing poverty and inequality in societies around the world. 213 https://www.telematicswire.net/artificial-intelligence-and-its-use-cases-in-automotive-industry/, accessed on 28 June 2023 214 https://www.tristatetechnology.com/blog/artificial-intelligence-in-healthcare-top-benefits-risks-and-challenges, accessed on 28 June 2023 215 Hossain K A, (2023), Analysis of Present and Future Use of Artificial Intelligence (AI) in Line of 4th industrial Revolution (4IR), Scientific Research Journal 11 (8), ISSN: 2201-2796, Aug 2023, accessed on 14 Aug 2023 216 Hossain, K. A., (2023), Evaluation of Influence of Artificial Intelligence (AI) on Technologies in 21st Century, Journal of Eiectronics and Communication Engineering Research, Quest Journal, accessed on 15 Aug 2023 217 Johnny ChLok · 2019, ,Artificial Intelligence Future Ten Development Stages, Independently Published,ISBN:9781671040670, 1671040678 218 Korinek, Anton and Joseph E. Stiglitz (2019), “Artificial Intelligence and Its Implications for Income Distribution and Unemployment,” in Agrawal et al.: The Economics of Artificial Intelligence, NBER and University of Chicago Press 124 Norwegian Journal of development of the International Science No 167/2025 Figure 5: AI is game changer in manufacturing industry 219 and AI will boost agriculture sector 220 Future dangers from AI may be very significant. AI, IoT, ML, and automation will reduce the need for human workers and the size of the global economy. AI in education is not about humanoid robots as a teacher to replace human teachers. However, it is about using computer intelligence to help teachers and students and improving and effective the education system. In the future, the education system will have many AI tools that will shape the educational experience. Again, who knows, maybe even robot-human emotional relations will be possible in the future. There were already several movies playing with that idea. However, there is a high degree of uncertainty regarding the conceivable technological development scenarios and their effects. 221 So, substantial potential weaknesses and risks cannot be ignored. Economic analysis based on models suited to this new era has the potential to aid in the development of policies at both the global and national levels that can mitigate these negative effects. The big threat of AI is ‘Singularity’ in which AI machines take over and fundamentally alter human existence by making us dependent on them or eliminating us. This is another major threat to humanity on a global scale. Today many people believe that the end of humanity is possible if super-intelligent robots gain access to nuclear weapons or develop biological or chemical agents. Those devastating 219 https://www.manufacturingtodayindia.com/sectors/10725-artificial-intelligence-a-game-changer-for-manufacturers, accessed on 11 Oct 2023 220 https://theconversation.com/using-ai-in-agriculture-could-boost-global-food-security-but-we-need-to-anticipate-the-risks178104, accessed on 11 Oct 2023 221 Hossain, K. A., (2023), Evaluate the Mystery of Creation of Universe and Existence of Antimatter Dark Matter and Dark Energy, International Journal of Current Science Research and Review 6 (6), Jun 2023, accessed on 16 Aug 2023 222 https://nagalandpost.com/index.php/meta-scientist-yann-lecun-dismisses-ai-threat-to-humanity/, accessed on 17 June 2023 223 Johnny ChLok,(2020), Artificial Intelligence How Impacts Global Economy, Independently Published,ISBN:9781661685263, 1661685269,accessed on 30 Aug 2023 224 Pablo Padula,(2023), Are You Going to Lose Your Job to Artificial Intelligence?, Amazon Digital Services LLC - Kdp, ISBN:9798391007401,accessed on 30 Aug 2023 225 Alexander J. Means, et al, (2020),Education and Technological Unemployment,Springer Nature Singapore, ISBN:9789811362255, 9811362254,accessed on 30 Aug 2025 /horrifying tasks could be carried out at any time, either by super clever robots themselves or by some ignorant human acting out of anger, malice, or dictated by a stupid person. So, there should be appropriate procedures, rules and regulations for using advanced AI and robots. And such procedures and regulations should include ethical, privacy, and security concerns. Therefore, global coordination should guide AI development in a positive, gentle path. 222 On the other hand, AI technology has the potential to give benefits to different income choices and bring significant gains to both developed and developing countries. 223 AI also has the potential to create new and innovative job opportunities, leading to a more productive and efficient economy. 224 Any technology usually eliminates employment that creates. It is the reality that, with the advancement of AI, the world will become more complex and self-centred in the future, as well as there will not be enough jobs for all, or it will not ensure employment for everyone. So, the new generation needs to be educated with advanced technology and valuable skills. Therefore, the current education system must be transformed with a pragmatic solution. 225 Norwegian Journal of development of the International Science No 167/2025 125 Figure 6: Home care robot 226 and AI will change the finance sector 227 An algorithm is ‘a step-by-step procedure for solving a problem or accomplishing some end.’ In the field of AI, algorithms are automated instructions that tell a computer what to do. The instructions are mathematically driven and can be as simple as ‘if X, then Y’ actions or encompass complex mathematical layers of instructions to execute a task or find an answer to a problem. 228 The algorithm manipulates data in a variety of ways, such as sorting, inserting, replacing, or searching for a data attribute. It solves problems when it carries out the instructions. ML can be supervised, unsupervised, semi-supervised, or reinforcement learning depending on the kind of data being input into the program and the type of outputs that can be expected. 229 When we hear someone talk about a machine that learns, the machine is executing a structured set of mathematical procedures. The machine learns how to correct itself based on data used to train the application or by iterating on data used by the application once deployed. How the machine learns to correct itself depends on the mathematical models selected for the task. 230 Data scientists and ML programmers are the team members who select and adjust the mathematical models used in applications. 231 In deep learning, a set of mathematical instructions such as an algorithm, which is called a node, works like a neuron to fire the algorithm, process it as instructed, and pass its information to another node in the computer. That algorithm is then used as input by another node in the neural network. Data move through the nodes in a direction specified by the algorithm. A deep learning model can contain billions of nodes embedded in many layers. Future robotics and automation will be going to serve as assistants, workmates, teachers, surgeons, drivers, operators, and explorers. As engineers, tech226 https://www.theguardian.com/society/2020/sep/07/robots-used-uk-care-homes-help-reduce-loneliness, accessed on 17 June 2023 227 https://www.trickyenough.com/how-ai-is-changing-the-finance-sector-finance-to-fintech/, accessed on 30 Aug 2025 228 Castellanos S. What exactly is artificial intelligence. The Wall Street Journal. 2018, accessed on 30 Aug 2025 229 Fumo D. Types of machine learning algorithms you should know. Towards Data Science, 2017, accessed on 30 Aug 2025 230 Menzies T., (2003), 21st-century AI: proud, not smug. IEEE Intell Syst. 2003;18(3):18–24, accessed on 30 Aug 2025 231 Schatsky D, et al, (2014), Demystifying artificial intelligence: what business leaders need to know about cognitive technologies. Deloitte Insights, 2014, accessed on 17 June 2023 232 https://www.knowledgehut.com/blog/data-science/future-of-robotics, accessed on 16 June 2023 233 https://www.tesla.com/en_eu, accessed on 16 June 2023 234 https://www.forbes.com/?sh=12c92a752254, accessed on 16 June 2023 235 https://www.weforum.org/reports/the-future-of-jobs-report-2020, accessed on 26 June 2023 nologist, and scientists continue to develop and advance robotics, the capabilities of this technology will only increase further. Today, in many ways, robots are already an integral part of daily life. They might even assist us in expanding our horizons on our planet and beyond, helping billions of people live better lives. 232 Today, robots become human friend and have been among us for quite some time and are used to separate humans from dull, automated, dangerous or dirty jobs or tasks in warehouses and factories at the work place. When we are talking about replacing humans with robots, then safety is perhaps one of the most important factors. Robots injuring or even worse, killing their human colleagues, is become even bigger issue as use of advanced AI increases or automation rises and many more factories are adapting automation. Forbes published the interesting story about the incident where a semi-autonomous driving Tesla car 233 collided with a tractor-trailer in Florida, and subsequently killing its driver in 2016. 234 Again in 2015, when an industrial robot killed a German factory employee and in 2017 another killed a Michigan worker. However, in the Future of Jobs Report, more than 80% of business executives said that, they are accelerating plans to digitize work processes and deploy new technologies. 235 And, 50% of employers are expecting to increase speed the automation of some roles in their companies. So, in the age of AI, the McKinsey Global Institute declared that, workforce transitions in a time of automation, estimates that as many as 375 million workers or roughly 14% of the global labor force may need to re-skill in digitization, 126 Norwegian Journal of development of the International Science No 167/2025 automation and AI by 2030, 236 in their report, ‘Jobs lost, jobs gained.’ 237 An up-skilling worker seems to be the most popular course in all advanced company. For example, Amazon’s ‘Up-skilling 2025’ 238 initiative, has announced that it plans to spend US$ 700 million to retrain a third of its workforce with skills for automation or in AI training. Again, 52% of industrial workers interviewed in the Digital Factories 2020 and ‘Shaping the future of manufacturing’ 239 report by PricewaterhouseCoopers (PwC) 240 believed their company lacks a true digital culture. They decided, getting workers involved, and trained, with technologies at the earliest stages can double-up with effective risk assessment and understanding potential safety hazards. Actually, safety and training can go hand-in-hand by ensuring each worker is trained to follow the safety protocol and avoid risks of on-site accidents and injuries; whatever their skill level. Training of the safe use of robots also goes beyond the technologies’ installation. As the national safety guidelines for the manufacturing industry are always changing and periodic training must be delivered to workers to ensure they can operate the machinery safely. The safety of robots must also be guaranteed over the long-term for the betterment of human safety. One way to achieve this is being explored by MIT 241 in collaboration with the automobile manufacturer BMW 242 . By using simulations to develop algorithms that help robots predict and respond to humans in close proximity, like, on a car production line. In addition, effective maintenance is absolutely crucial to the safe operation of robots. 243 So, the future of AI and robotics will provide several fascinating opportunities with high pay and promising career advancement. The chances for new generation of having a rewarding job in the 236 https://www.mckinsey.com/mgi/overview, accessed on 26 June 2023 237 James Bessen, (2015), learning by doing: The real connection between innovation, wages, and wealth, Yale University Press, 2015, accessed on 26 June 2023 238 https://www.aboutamazon.com/news/workplace/upskilling-2025, accessed on 26 June 2023 239 https://www.pwc.nl/en/publicaties/digital-factories-2020shaping-the-future-of-manufacturing.html, accessed on 26 June 2023 240 https://www.pwc.com/, accessed on 26 June 2023 production and service industry can be increased further by formal education, certification, practical training, work experience, and skill development. Currently social robots are designed to interact in ways that make them human by responding to human interactions. 244 Sophia is an example of a social robot conceived as a companion for older adults that demonstrates the potential of technologic advancements to improve how robots function. 245 In 2018, Sophia was redesigned with mobility capabilities and is now the first robot to be given citizenship in a country (Saudi Arabia). 246 Miko is kind of robot that understand human emotion. Miko’s got dozens of emotions (and a few tricks up its sleeve). Not just recognizing you and calling you by name, but responding to your mood and getting to know you a little better each day. Need a joke when you’re down? A dance when you’re bored? Miko’s on it. Because it’s not just the smartest little robot you’ll ever meet. It’s also your friend.Miko’s constantly exploring for fun, prompting you to play, and encouraging you to challenge your brain. As comfortable initiating a conversation as starting a dance party, the only thing Miko’s missing is a partner-in241 https://www.mit.edu/, accessed on 26 June 2023 242 https://www.bmw.com/en/index.html, accessed on 26 June 2023 243 https://blog.wor-con.com/when-smart-technology-meetsmanufacturing/?lang=en, accessed on 17 June 2023 244 www.youtube.com/watch?v=mSBcG-SStqc, accessed on 24 June 2023 245 Greshko M. Meet Sophia, the robot that looks almost human, National Geographic, 2018, accessed on 17 June 2023 246 Hatmaker T. Saudi Arabia bestows citizenship on a robot named Sophia, Tech Crunch, 2017, accessed on 17 June 2023 Norwegian Journal of development of the International Science No 167/2025 127 crime. 247 PARO is an advanced interactive robot developed by AIST, a leading Japanese industrial automation pioneer. It allows the documented benefits of animal therapy to be administered to patients in environments such as hospitals and extended care facilities where live animals present treatment or logistical difficulties. 248 Professor Einstein is a robot that teaches science and general information. 249 ROBEAR is a nursing care robot. 250 Vortex is a programmable robot that teaches kids STEM. 251 Pillo is an AI-powered health companion. 252 Buddy is a home robot. 253 Figure 7: Example of few modern robots (Healthcare robot, Emotional robot) 254 , 255 As robots learn to perform nursing functions, such as ambulation support, vital signs measurement, medication administration, and infectious disease protocols, the role of nurses in care delivery will change. 256 Research suggests that between 8% and 16% of nursing time is spent on non-nursing activities and tasks that should be delegated to others. 257 Again from an example of a robot collaboration is found at Duke University Pratt School of Engineering and School of Nursing. Interdisciplinary teams are working on developing the Tele-Robotic Intelligent Nursing Assistant (TRINA), a remote-controlled robot, to address healthcare workers who are at “high risk for infection due to routine interaction with patients, handling of contaminated materials, and challenges associated with safely removing protective gear.” 258 TRINA is tested in the nursing simulation lab and currently performs about 60% of predefined nursing tasks; however, it's 20 times slower than a nurse. The nurse will become the information integrator, health coach, and deliverer of human caring, supported by AI technologies, not replaced by them. In 2017, the McKinsey Global Institute (MGI) published the report “Jobs Lost, Jobs Gained: Work247 https://miko.ai/, accessed on 24 June 2023 248 http://www.parorobots.com/, accessed on 24 June 2023 249 https://www.hansonrobotics.com/professor-einstein/, accessed on 24 June 2023 250 www.riken.jp/en/pr/press/2015/20150223_2, accessed on 24 June 2023 251 www.youtube.com/watch?time_continue=5&v=ssv7tcXJSnQ, accessed on 24 June 2023 252 www.pillohealth.com, accessed on 24 June 2023 253 https://buddytherobot.com/en/buddy-the-emotional-robot, accessed on 24 June 2023 254 https://www.japantimes.co.jp/news/2023/03/20/world/germany-taps-robots-elderly-care/, accessed on 17 Sep 2023 255 https://edition.cnn.com/2015/06/22/tech/pepper-robotsold-out/index.html, accessed on 18 Sep 2023 256 Finlay GD, et al, (2014), Measuring the modified early warning score and the Rothman Index: advantages of utilizing force Transitions in a Time of Automation.” 259 Although discussions of AI replacing human workers have taken place since the beginnings of the technology, this report stirred great debate about the global impact of AI. MGI models predict that by 2030, nearly 75 million to 375 million workers worldwide will need to switch occupations due to AI technologies. However, the report also emphasizes that new roles and jobs will be created. American Economic Association researchers agree with the MGI predictions, finding that some tasks will be favorable for automation, but few jobs can be fully automated. They also predict that workers will train into new roles. 260 In 2011, computer scientist Andrew Ng proved that computers can learn what an object is without being told what it represents. His research used 10 million online videos of cats; over time, the computer learned what a cat was. This breakthrough technology is used today in speech recognition systems. Recent research predicts that global AI healthcare spending will equal US$ 36.1 billion by 2025. 261 China announced in 2017 its goal to become a global leader in AI by 2030. The U.S. issued the executive order ‘Maintaining American Leadership in AI’ on February 11, the electronic medical record in an early warning system. J Hosp Med, 2014;9(2):116–119, accessed on 05 Oct 2023 257 Yen PY, et al, (2018), Nurses' time allocation and multitasking of nursing activities: a time motion study, AMIA AnnuSympProc, 2018;2018:1137–1146, accessed on 05 Oct 2023 258 Li J, et al, (2018), Thetele-robotic intelligent nursing assistant (TRINA), Duke University Pratt School of Engineering Intelligent Motion Laboratory. 2018, accessed on 05 Oct 2023 259 McKinsey Global Institute, Jobs lost, jobs gained: workforce transitions in a time of automation. 2017, accessed on 05 Oct 2023 260 Brynjolfsson E, et al (2018), What can machines learn, and what does it mean for occupations and the economy. AEA Pap Proc. 2018;108:43–47, accessed on 05 Oct 2023 261 Bresnick J., (2018), Artificial intelligence in healthcare spending to hit $36B, Health IT Analytics,accessed on 05 Oct 2023 128 Norwegian Journal of development of the International Science No 167/2025 2019, directing all federal government agencies to implement strategic objectives aimed at accelerating AI research and development. 262 Figure 8: Machines may rule over humans in future 263 both certainty and uncertainty of life 264 The age of AI and 4IR is a transition, and it could take years or even decades for different parts of the workforce and almost every part of life to get used to it. So, these predictions are harder to make, but few gloomy experts worry that once AI is everywhere, these new jobs and the ones that were already there may start to go away. So, they wonder what will happen to those people in the long run. As we've seen in the past, there were ways to move from farming to making things to providing services. Now, that isn't true. What will happen to most people who work if all jobs are taken over by robots? As we've seen, technology makes more sense from a business point of view. For example, selfdriving cars and AI concierges like Siri and Cortana could take away up to 8 million jobs in the US alone as these technologies get better. What about the rest of the world? When all these jobs start to go away, we'll have to ask ourselves, ‘What makes us useful?’ 265 How do we define productivity? We must face the ever-evolving reality and rethink the foundations upon which our civilization is built. What is it that we do that contributes to society and makes us valuable as individuals? Since the technology won't wait for us, we need to have this discussion ASAP. It's time for us to develop a moonshot mindset. 266 To build inclusive, decentralized intelligent digital networks 'imbued with empathy' 267 that help humans aggressively and ensure that technology meets social and ethical responsibilities. 268 We need some effective and new level of regulatory and certification process to ensure the best use of AI for entire human race. 269 Figure 9: In future robot will replace teacher 270 and Modern classroom 271 262 Federal Register. Executive order No. 13859 of February 11, 2019: maintaining American leadership in artificial intelligence, accessed on 05 Oct 2023 263 www.quora.com/Will-machines-replace-humans-If-yeswhen, accessed on 25 Sep 2023 264 https://time.com/6283958/darwinian-argument-for-worrying-about-ai/, accessed on 25 Sep 2023 265 YudkowskyEliezer, (2008), "Artificial Intelligence as a Positive and Negative Factor in Global Risk", Global Catastrophic Risks, Bibcode:2008gcr..book..303Y, ISBN 9780198570509 , accessed on 04 Oct 2023 266 https://x.company/moonshot/, accessed on 23 June 2023 267 https://dharmaseed.org/talks/26820/, accessed on 23 June 2023 268 https://theshillongtimes.com/2022/10/16/we-care-foundation-philanthropy-imbued-with-empathy/, accessed on 23 June 2023 269 https://digital-strategy.ec.europa.eu/en/policies/regulatory-framework-ai, accessed on 23 June 2023 270 https://www.notredamecoll.ac.uk/news/will-robots-replace-teachers-zufar-hussain,accessed on 29 Sep 2023 271 https://www.youtube.com/watch?app=desktop&v=1n1mzVoivL8, accessed on 03 Oct 2023 Norwegian Journal of development of the International Science No 167/2025 129 6. Analysis of Life and Philosophy of Selected Successful and Great Entrepreneurs around the Globe All great entrepreneurs in addition to establish enormously successful companies, they were also responsible for generating new ideas and products that have crafted and curated the world we live in today. Every aspect of our life from technology to entertainment has been impacted by the essence of entrepreneurship from the last two decades. Famous entrepreneurs have thrived with great success all over history, inspiring others with their ideas and the way they established their businesses. some entrepreneur achieve success by being patient and listening to the advice of their close partners. for others, it is superior knowledge and perseverance. For the majority, it involves the endeavor to exhibit courage, embrace risks, and pursue innovative experiences. John D. Rockefeller of Standard Oil and steel magnate Andrew Carnegie is among early entrepreneurs who built business empires. General Electric (GE) was established by Thomas Edison, while Henry Ford revolutionized manufacturing, making automobile accessible to the masses. Oprah Winfrey and John Johnson established extensive entrepreneurial portfolios that encompassed several industries, mediums, and consumer demographics. Tom Love, Charles Schwab, and Steve Jobs established enterprises that are well recognized and utilized throughout the nation. The banking sector in America was revitalized by entrepreneurs such as JP Morgan, who revolutionized the way banking was conducted. In 1876, Alexander Graham Bell established the communication industry. 272 However, in 1973, Martin Cooper, a Motorola executive and researcher, made the first mobile telephone call from a handheld phone to his rival, Joel S. Engel of Bell Labs. Today, the industry is a multi-billion-dollar entity that is home to numerous mobile phone and telephone manufacturers and operators worldwide. 273 In 1448, the printing press, invented by the German goldsmith Johannes Gutenberg, is recognized as one of the most significant inventions in history, as noted in the International Science Index, Management and Industrial Engineering Vol: 11, No: 9, 2017, available at waset.org/Publication/10007833. It significantly altered the way in which cultures disseminate knowledge and initiated a whole new sector of printing and publishing. 274 Recently, entrepreneurs and innovators like Steve Jobs of Apple Computers, Bill Gates of Microsoft, Mark Zuckerberg of Facebook, Aliko Dangote of Dangote Group, Innoson of IVM Motors, Jeff Bezos of Amazon, Pierre Morad Omidyar, the French-born Iranian-American entrepreneur and 272 Library of Congress, (2017). Everyday Masteries: Fun Science Facts from the Library of Congress. (Online). www.loc.gov. Available from: https://www.loc.gov/rr/scitech/mysteries/telephone.html (Accessed 12 March, 2017), accessed on 20 Jul 2025 273 Ray, A., (2015). The History and Evolution of Cell Phones. (Online). The Art Institutes. Available from: https://www.artinstitutes.edu/about/blog/the-history-andevolution-of cell-phones (Accessed 7th April, 2017), accessed on 20 Jul 2025 philanthropist who started eBay, Peng Lei and Jack Ma of Alibaba Group, Sim Shagaya, the Nigerian businessman and entrepreneur who started Konga, the biggest e-commerce website in West Africa, and Tunde Kehinde and Raphael Kofi Afaedor of Jumia, among others, have changed the way business is done and created new industries that have helped their economies grow and develop. Before their transformative contributions to the economy these inventors, creators, innovators, and business entrepreneurs were neither acknowledge for their academic excellence, nor reported to have undergone any training in entrepreneurial education. Therefore, what about the entrepreneurs, inventors, and innovators in 21st century? Did their education in entrepreneurship serve as a stimulus for their entrepreneurial aspirations and engagement? What significance does entrepreneurship education (EE) hold in the expansion and advancement of enterprises and emerging industries for economic development and growth? Is there a correlation between an individual's entrepreneurial training and their pursuit of entrepreneurship? What is the role of entrepreneurship education (EE) in the 21st century in fostering the growth and development of a nation? Entrepreneurship has gathered enormous interest from both academics and practitioners as the driving force behind economic growth. The imperative of entrepreneurship as a strategic model for sustainable growth and development is gradually acknowledged by governments, organizations (both private and public), and the general populace in order to adapt quickly to the ever-changing business environment of the 21st century knowledge-technology-based economy. In its present state, entrepreneurship is a multi-layered and multidimensional spectacle that has been defined as a mindset, process, and resource by some. 275 Most definitions of entrepreneurship have primarily focused on business and business startups, which create value at a cost. However, entrepreneurship is much more than that. It is not exclusively centered on business skills or opening a new business enterprise; it is generally a way of thinking, a mindset, and a behavioral pattern that is applicable to all facets of society and the economy at large. Individuals’ response and reaction to the changes within and around their environments are reflective of the real-world nature of entrepreneurship. 276 Two organizations operating within the same environment, confronted with the same challenges will differ in their responses and behaviors. To one, it would be a chance to convert challenges into opportunities by altering processes; however, to another, 274 Ps Print, (2017). The Invention of the Printing Press. (Online). Available from: https://www.psprint.com/resources/printing-press/ (Accessed 13 March, 2017), accessed on 20 Jul 2025 275 Toma, S., Grigore, A. & Marinescu, P., (2014). Economic Development and Entrepreneurship. Procedia Economics and Finance, 8(2014), pp. 436–443, accessed on 20 Jul 2025 276 Wieczner, J., (2016). Apple Takes Back Title of World’s Most Valuable Company. (Online). Fortune.com. Available from: http://fortune.com/2016/02/03/apple-facebook-amazon-google/ (Accessed 14 March, 2017), accessed on 20 Jul 2025 136 Norwegian Journal of development of the International Science No 167/2025 deal. During a summit in Shanghai on October 24, billionaire Ma stated that the regulatory system was stifling innovation and must be reformed to stimulate development. The summit was attended by the elite of China's financial, regulatory, and political establishment. 338 He stated, "Learn from the mistakes of others, rather than their successes." furthermore, he stated, "Intelligent individuals require a fool to guide them." It is advisable to have a peasant as the leader when the team consists entirely of scientists. He thinks differently. It is simpler to prevail when individuals possess diverse viewpoints. "I refer to Alibaba as the 1,001 mistakes," Jack Ma stated. The lessons I have acquired from the challenging times at Alibaba are that it is imperative to cultivate a team that is driven by innovation, vision, and value.  Steve Jobs He was a co-founder of Apple, which was one of the few technology companies to pose a substantial challenge to Microsoft's dominance. As one of the most outstanding natural entrepreneurs of all time, he has demonstrated the ability to achieve greatness from a position of zero. Jobs' influence on Apple was characterized by creative surges in contrast to Gates' methodical expansion. When Jobs returned to Apple, it was a struggling computer company. However, he evolved it into one of the world's leading technology companies. The iPod, iPhone, and iPad are the growth engines that have carried Apple toward the previously unassailable Microsoft. It is impossible to compile a list of the finest entrepreneurs that is self-respecting without including Steve Jobs. Jobs withdrew from college due to his family's inability to support the full cost of his education. He unofficially continued to audit courses, relying on free meals from the local Hare Krishna temple and returning Coke bottles for change to cover his expenses. Jobs acknowledged the calligraphy class he attended as the source of inspiration for Mac's innovative typefaces and font design. Jobs subsequently established the Apple Computer Company with his childhood companion and electronics expert, Steve Wozniak, in the course of an extraordinary and remarkable career. Steve Jobs, who is frequently referred to as "The Grandfather of the Digital Revolution," revolutionized the consumer electronics industry. His influence will be felt for many digital generations to come. 339 Steve Jobs was adopted soon after his birth. Jobs was biologically half Arab. His mother was American, and his biological father was Syrian. Jobs encountered financial difficulties while attending classes without official authorization. He lived on complimentary meals provided by the nearby Hare Krishna temple, returned Coke bottles for cash, and slept on the floors of his friend's dormitories. He spent seven months traveling throughout India, where he experimented with psychotropic drugs and ultimately adopted Zen Buddhism practices. Jobs filed an application to become a civilian 338 https://www.reuters.com/article/us-ant-group-ipo-suspension-regulators-i-idCAKBN27L1BB, accessed on 14 Jul 2025 339 https://unboxingstartups.com/unfolding-steve-jobs-andapple-story/, accessed on 14 Jul 2025 astronaut on the Space Shuttle right after being terminated from his position at Apple. However, his application was denied, and he even explored the possibility of establishing a computer company in the Soviet Union. Bill Clinton once extended an invitation to Jobs to spend the night in the Lincoln stateroom of the White House. When Jobs passed away, the flags of Apple, Microsoft, and Disney properties (including Disneyland and Disney World) were lowered to half-staff. Jerry Brown, the governor of California, proclaimed Sunday, October 16, 2011, as Steve Jobs Day. He stated, "That has been one of my guiding principles: simplicity and concentration." Complexity can be more challenging than simplicity: It is necessary to put in effort to organize one's thoughts in order to simplify them. However, the final result is worthwhile, as it is possible to move mountains once one has arrived. He is renowned for his statement, "Focus means declining the hundred other good ideas that exist." 340 This emphasizes the significance of prioritizing initiatives to establish a clear vision and making difficult decisions. Jobs was influential in the transformation of seven industries: personal computing, animated movies, music, phones, tablet computing, retail stores, and digital publishing. Because of this, he is a member of the pantheon of America's greatest innovators, which includes Thomas Edison, Henry Ford, and Walt Disney. History will remember how these men applied imagination to technology and commerce long after their personalities are forgotten, despite the fact that none of them was a saint. 341 He was a proponent of adaptability and the ability to figure out when to pivot or exit a project. He strived to develop products that would have an enduring influence on the world, rather than merely generating revenue. Steve Jobs perceived entrepreneurship as an unwavering aspiration to "make a dent in the universe" through innovation, passion, and hard work. He highlighted the necessity of adaptability and the ability to decide when to alter course, in addition to the significance of perseverance. He was committed to the development of a robust team, the prioritization of user experience, and the development of products that provided a comprehensive solution rather than individual components. 342 Jobs underscored the requirement of a profound devotion to overcome the obstacles of entrepreneurship. He was of the belief that perseverance is a crucial factor in distinguishing between successful and unsuccessful entrepreneurs. He also believed in extending the limits of what was feasible, sometimes even before consumers were aware of their preferences. He engrossed on the development of innovative products that provided a comprehensive solution and an exceptional user experience. He never refuses to confront failure, viewing it as an opportunity for learning and the chance to refine and enhance his skills. Jobs promoted the pursuit of innovative solutions and 340 https://www.inc.com/jeff-haden/why-steve-jobss-mostvaluable-piece-of-advice-for-entrepreneurs-applies-to-anyone-doing-any-thing.html, 341 https://hbr.org/2012/04/the-real-leadership-lessons-ofsteve-jobs, 342 https://www.youtube.com/watch?v=gxo2rGr7Yfg, Norwegian Journal of development of the International Science No 167/2025 137 the challenge of conventional thinking among entrepreneurs. He stated, "Innovation is the defining characteristic that differentiates a leader from a follower." Avoid wasting your time by living the existence of another individual, as time is a finite resource. Do not allow the noise of others' opinions to block out your own inner voice. It is not sufficient to inquire about the preferences of consumers and then attempt to fulfill them. They will wish something new by the time you complete the construction. We are present to make an imprint in the cosmos. Otherwise, what is the aim of being present?” 343  Brian Chesky He is the founding partner of Airbnb. "Build something that 100 people love, not something that 1 million people kind of like," as the renowned entrepreneur once said. It began operation in 2008 and right now has a user base of over 40 million. Chesky and his roommate Joe Gebbia, who were then unemployed art school graduates, initiated the process by renting out floor space in their apartment. Finally, they developed a website to enable others to replicate their efforts. 2010 marked the site's graduation from the Y Combinator start-up incubator and its initial round of venture capital funding. In response to Airbnb's recent declaration that their corporate governance is going to consider the opinions and priorities of all stakeholders, including low-level employees and hosts, and also investors, Chesky, the Co-Founder of Airbnb, is currently in the process of developing the concept of a stakeholderbased world. 344 Chesky prioritizes the formation of a company culture that is both purpose-driven and positive. He is of the mindset that a robust culture is necessary for the purpose of attracting and retaining talent, promoting innovation, and developing a sense of community among employees. Chesky considers community engagement as an investment, acknowledging the significance of establishing robust relationships with consumers, hosts, and the broader community. 345 Entrepreneurship is considered by Chesky as an effective driver of positive change, with a specific focus on its contribution to wealth generation, societal transformation, and individual empowerment. He truly believes that entrepreneurs can foster innovation and influence a more favorable future by visualizing a different world and constructing it. He urges for entrepreneurs to establish a transparent vision of their objectives and to pursue them with utmost dedication. 346 He is of the view that the world does not solely metamorphose according with our ambitions; rather, it necessitates individuals who are willing to dream up an alternative reality and endeavor to make it a reality. The essence of resilience in the context of obstacles is underscored by Chesky's experience with Airbnb. He 343 https://www.uschamber.com/co/start/strategy/steve-jobsquotes-for-business-owners# 344 https://unboxingstartups.com/brian-chesky-the-successful-journey-of-airbnb-co-founder/, accessed on 14 Jul 2025 345 https://www.inc.com/kerry-close/4-lessons-from-airbnbco-founder-on-building-your-own-company.html, 346 https://fastercapital.com/articles/Brian-Chesky-s-Impacton-Entrepreneurship--A-Comprehensive-Guide.html, stresses the necessity of adapting to evolving conditions, making tough choices, and gaining knowledge from setbacks in order to grow more resilient. Chesky's industrial design heritage has fostered in him an intense admiration for the ability of design to generate exceptional user experiences. He is of believe that each interaction with a product or service presents an opportunity to surpass expectations and cultivate loyalty. He is unafraid to take calculated risks and make bold moves in order to foster innovation and development. He is of the opinion that it is imperative to engage in calculated risk-taking in order to remain at the cutting edge of the industry and adjust to the constantly evolving business environment. He also emphasizes the significance of perpetually iterating and enhancing, even in the presence of victory. 347 He is of the mind that it is crucial to learn from both successes and setbacks in order to foster ongoing growth and development. He urges for enterprises that maintain an optimal balance between autonomy and support, acknowledging that a structured framework can promote individual creativity and contribution. 348  Bill Gates He is a co-founder of Microsoft. According to him, "It is fine to celebrate success but it is more important to heed the lessons of failure." He is regarded as one of the greatest natural entrepreneurs of any era. Bill Gates is a topic of conversation whenever there is a discussion about Microsoft, as this is the image and persona that he established on the minds of all individuals. Gates had an intense fascination in computer programming from his young age. He established Microsoft and invented the Windows operating system, which remains enormously popular. Bill Gates, like several other prominent industrialists, is also recognized for his philanthropic endeavors, which include significant contributions to charitable organizations. For instance, in 2000, Gates formed the Bill and Melinda Gates Foundation, a private philanthropic organization that is committed to the alleviation of poverty, the expansion of education opportunities, the provision of technology access worldwide, and the improvement of health care. Gates has personally contributed more than $28 billion to the foundation, which he remains to stand for. He stated, "If you fail to realize your aspirations, someone else will employ you to construct theirs." 349 Bill Gates is of the view that entrepreneurs should prioritize the development of an enduring legacy and the generation of a positive global influence. Gates is of opinion that entrepreneurship requires embracing of calculated risks, which can result in substantial success. Nevertheless, he also highlights the essence of meticulously evaluating the potential outcomes of those risks. Emphasizing the significance of innovation, calculated 347 https://www.entrepreneur.com/growing-a-business/firston-entrepreneur-airbnbs-brian-chesky-shares-his/293442, 348 https://timesofindia.indiatimes.com/business/india-business/10-quotes-by-brian-chesky-on-entrepreneurship-and-innovation/photostory/100841167.cms?picid=100841317, 349 https://zakkann.com/bill-gates-quotes/#, 138 Norwegian Journal of development of the International Science No 167/2025 risk-taking, and learning from both successes and failures, he considers entrepreneurship as a way of achieving one's own aspirations and leaving an enduring impact. He urges for aspiring entrepreneurs to be their own bosses, move quickly, continually innovate. Gates reinforces the significance of acquiring knowledge from both successes and failures. He stated, "It's fine to celebrate success, but it is more important to heed the lessons of failure." He is of belief that failures offer valuable insights that can be applied to enhance and progress. 350 He is of the opinion that in order to stay competitive, businesses must analyze emergent patterns and develop innovative products and services. He advises for entrepreneurs to remain resilient in the face of adversity and to be receptive to evolving circumstances. He is of view that setbacks are unavoidable, but it is crucial to learn from them and continue to progress. 351 Gates stressed the significance of sales skills for entrepreneurs, claiming that success is contingent upon the ability to persuade consumers, investors, and employees. He stated, "Starting a business isn't about money".  Mark Zuckerberg He is one of the greatest natural entrepreneurs of any period and one of the co-founders of Facebook. His father is a dentist and his mother is a psychologist, and he was born in 1984 into a Jewish American family. He has a strong passion for technology. Mark Zuckerberg, who pulled people closer together and revolutionized the way the world communicates. Mark was compelled to make numerous sacrifices in order to pursue his professional aspirations, including withdrawing from Harvard and declining substantial quantities of money. His success as it stands today is a testament to his dedication and determination. Zuckerberg is presently one of the "talented youth" characters, and his influence is pervasive. He frequently attracts a large number of followers with each action he takes. 352 He is of the belief that, as he stated, "“I think a simple rule of business is, if you do the things that are easier first, then you can actually make a lot of progress. Mark Zuckerberg, who founded Facebook from his dormitory in 2004, represents a prime example of a college student entrepreneur. In 2019, Facebook announced a market capitalization of approximately $546 billion and reported revenue of approximately $27.6 billion. The most impressive feature of Zuckerberg is his ability to sustain his position as the CEO of Facebook and the company's founder at such a young age. His concentration on the testing of Facebook and social media innovation has resulted in Facebook evolving into the most prominent social platform on a global scale. One of Zuckerberg's strategies was to establish distinct areas of expertise and surround himself with individuals who were more intelligent than he 350 https://blog.taskque.com/entrepreneur-lessons-billgates/#, 351 https://www.youtube.com/watch?v=W5g4sPi1wd4, 352 https://economictimes.indiatimes.com/news/international/business/5-lessons-entrepreneurs-can-learn-frommark-zuckerberg/entrepreneurship-a-journey/slideshow/98911759.cms?from=mdr, 353 https://www.youtube.com/watch?v=HVwfQSNemcw, was. An instance is the appointment of Sheryl Sandberg as the Chief Operating Officer, who is also the owner of LeanIn.Org. Zuckerberg's entrepreneurial legacy is undeniable, despite the controversy surrounding Facebook's privacy practices for selling user data. He stresses the significance of comprehending and prioritizing user requirements and experiences. He claims that success requires the development of an exceptional product that resonates with consumers. 353 Zuckerberg's methodology prioritizes the utilization of data to enhance products and services and inform decision-making. The significance of constantly adapting and learning from setbacks is underscored by Zuckerberg's journey with Facebook. He holds the opinion that a distinct, firm mission is necessary for retaining focus and guiding decision-making, particularly during difficult periods. 354 Zuckerberg's entrepreneurial philosophy focuses primarily on the notion that businesses should endeavor to address issues and effect positive change, rather than just concentrating on making a profit. He is of the mindset that success will ensue if a company prioritizes doing good. His stance on entrepreneurship concentrates on the resolution of real-world issues and the promotion of positive change, rather than the sole emphasis on the formation of a business. He is of the belief that entrepreneurs should be inspired by a distinct vision, a passion for their work, and a desire to make a lasting impact. furthermore, he underscores the significance of prioritizing user experience, learning from errors, and moving quickly. He emphasizes the significance of possessing an intense passion for the issue that an entrepreneur is seeking to resolve and a well-defined vision. He is of the view that this enthusiasm is the source of the motivation to conquer obstacles and establish a prosperous enterprise. 355 He promotes for a "move fast and break things" method by inspiring experimentation and learning from mistakes. 356 He is dedicated to enhancing the product and user experience by continually adapting to new information and feedback. Further, he is of the mind that that the creation of a successful product or service is contingent upon the creation of a positive and engaging user experience. Zuckerberg's philosophy, which prioritizes the importance of learning from mistakes and taking calculated risks, is characterized by the phrase "move fast and break things." 357 He also believes that entrepreneurship is the process of utilizing business as an engine for positive change, which is motivated by a clear vision, an enthusiasm for problemsolving, and a readiness to alter and learn as one progress.  Sam Walton 354 https://www.researchgate.net/publication/362246205_Mark_Zuckerberg_a_portrait_of_successful_high-tech_Entrepreneur, 355 https://visualisesolutions.co.uk/what-mark-zuckerbergcan-teach-us-to-be-a-better-entrepreneur/, 356 https://www.youtube.com/watch?v=Lb4IcGF5iTQ, 357 https://www.ideatovalue.com/insp/nickskillicorn/2017/06/mark-zuckerbergs-advice-new-entrepreneurseureka-moment-lie/, Norwegian Journal of development of the International Science No 167/2025 139 Walmart was founded by Sam Walton. "Outstanding leaders go out of their way to boost the self-esteem of their personnel," is an opinion of one of the greatest natural entrepreneurs of all time. It is remarkable what individuals can achieve when they have confidence in themselves. Sam Walton selected a market that was not in demand and afterwards established a distribution system that had not been explored in the retail industry. Walton could reduce shipping costs and expedite the delivery of products to his busy Walmart stores by constructing warehouses between multiple locations. A state-of-the-art inventory control system enabled Walton to significantly reduce his cost margins in comparison to his direct competitors. Walton transferred the savings to the consumer, rather than recognizing them as profits. Walton attracted an increasing volume of business to the location where he established his business by consistently offering low prices. Ultimately, Walton relocated Walmart to the city in order to compete with the larger corporations on margins. Since then, the beast of Bentonville has never turned back. 358 He also employed a straightforward formula: purchase products in bulk at reduced prices and resell them at a reasonable price. For instance, if a consumer enters a Walmart store with the intention of purchasing $5 products, but discovers a reasonable price in the store, they end up purchasing $10 products, resulting in a $5 profit for Walmart. Walton attracted an increasing volume of business to each location where he established a business by consistently offering low prices. Ultimately, Walton relocated Walmart to the large city in order to compete with his rivals on margins, and the beast of Bentonville has never looked back. Human Rights Watch uncovered that Walmart's anti-union apparatus is both extensive and aggressive, in contrast to the numerous American corporations that make an effort to prevent workers from organizing. 359 His entrepreneurial approach was distinguished by a strong commitment to employee empowerment, customer satisfaction, and the relentless pursuit of value and efficiency. He was a proponent of a hands-on, down-to-earth management style, continuous learning, and hard labor. Walmart's strategy was innovative at the time, as it was centered on providing value and convenience to customers in smaller towns. He had a distinct vision for the company. He urged his team to go above and beyond to guarantee that consumers had a positive experience and felt valued. Walton advocated for the treatment of employees as partners and the sharing of profits, which fostered a sense of ownership and motivation. 360 Sam Walton's entrepreneurial philosophy was developed on the basis of a hands-on, adaptable, and visionary leadership style, which was characterized by a relentless pursuit of efficiency and value, employee empowerment, and consumer focus. He emphasized the importance of open communication and urged all employees to express their ideas and concerns, as he believed 358 https://unboxingstartups.com/flipkart-acquire-walmartlaunches-walmart-wholesale/, accessed on 14 Jul 2025 359 https://www.hrw.org/news/2007/04/30/us-wal-mart-denies-workers-basic-rights#, accessed on 14 Jul 2025 that comprehension is the precursor to compassion. Walton famously stated, "There is only one boss, the customer." He stressed the significance of comprehending and satisfying consumer requirements, consistently endeavoring to offer them value and reduce their expenses. Saturday morning meetings served as a forum for associates to engage in brainstorming, problemsolving, and the exchange of best practices, thereby cultivating a culture of perpetual improvement. 361 Sam Walton focused heavily on managing expenses, acknowledging it as a critical competitive advantage. He emphasized on optimizing logistics, streamlining operations, and identifying methods to deliver products efficiently, thereby enabling him to offer lower prices. He was renowned for his hands-on approach, which involved spending time on the sales floor and engaging with consumers and employees. 362 Regardless his success, he maintained a humble demeanor and consistently endeavored to learn from others and adjust to evolving circumstances.  Larry Page He is one of the founding partners of Google. “If you’re changing the world, you’re working on important things. You are enthusiastic about rising in the morning” suggested the renowned natural entrepreneur, Larry. No one can ignore Larry Page when it pertains to Google. Currently, we are simultaneously collecting data from Google while writing. Therefore, can you anticipate the extent to which individuals are dependent on Google, or equivalently, how much Google has influenced us? Larry Page's establishment of the world's largest search engine, Google, is comparable to the inability to exist without it. It is no wonder that Larry Page developed an interest in and subsequently became an entrepreneur in the computer science sector. Larry came across Sergey Brin, a Stanford student, in 1995. They formed the company Google Incorporated in 1996 after becoming close friends and eventually going into business together. Larry and his colleague Brin served as co-presidents of Google Inc. until the company appointed Eric Schmidt as its CEO. He urges entrepreneurs to challenge conventional wisdom and think creatively. Larry Page's perspective on entrepreneurship is distinguished by a combination of pragmatism, ambition, and a profound dedication to the development of positive change through innovation and the development of strong teams. He stated, "My responsibility as a leader is to ensure that all employees have access to exceptional opportunities and that they feel they are making a significant contribution." Larry and Brin received a $25 million investment from Kleiner Perkins Caufield and Sequoia Capital in 1999, just three years after they established their business, in response to investor pressure. Google, a multinational internet service corporation, is headquartered in California, United States, and was established in 1998. Google, which was initially conceived as a web search engine that operated on the PageRank algorithm, 360 https://seaopenresearch.eu/Journals/articles/NIS_16_2.pdf, 361 https://www.quora.com/What-was-Sam-Walton-like, 362 https://www.archbridgeinstitute.org/sam-walton-how-curiosity-and-humility-built-the-worlds-largest-company/, 140 Norwegian Journal of development of the International Science No 167/2025 now provides a wide range of online, mobile, and desktop products. 363 Google generates a substantial portion of its revenue from advertising on platforms such as YouTube and Google Search. Apart from selling hardware such as smartphones and Chromecast devices, Google also generates revenue from the sale of digital content and applications on the Google Play Store. Google Cloud is an additional income source that is growing for the organization. In 2001, Google, which had become a global entity, generated profits exceeding $100 million. By 2003, these profits had increased to $960 million, representing a tremendous growth in a mere two years. According to 2018 data, Google's aggregate revenue was $136.81 billion. According to Statista, Google's revenue exceeded $89.52 billion in the first quarter of 2025. 364 Page recognizes that impactful solutions can originate from a variety of disciplines, regardless his status as a tech innovator. Page's ideology recognizes the significance of learning from failures and refining ideas. 365 Page highlights the significance of a flat organizational structure, open communication, and collaboration, in which ideas are valued irrespective of their status. He is of belief that a positive work environment and the respect of employees are prerequisites for success and productivity. 366 He considers entrepreneurship as an influential driver of positive change, stressing the significance of ambitious objectives, impactful innovation, and a concentration on resolving real-world issues. 367 He is dedicated to the development of strong teams, the promotion of collaboration, and the establishment of a culture that prioritizes both entrepreneurs and engineers. His approach is centered on the creation of solutions that are 10 times more effective than those that are gradually improved, along with the prioritization of a strong network and individual strengths. 368 He stresses the importance of identifying genuine problems and building businesses that address them. His philosophy centers on creating solutions that are significantly better than existing ones, rather than just incremental improvements. He believes in building on individual strengths and focusing on what a company does best. 369 Google's design is still visible today as a result of Page and Brin's prioritization of user experience and simplicity. He urges for the establishment of a concentrated, interconnected network as opposed to a single, expansive one. The significance of adaptability and continuous learning is illustrated by 363 https://www.statista.com/statistics/266206/googles-annual-global-revenue/, 364 https://www.statista.com/statistics/report-content/statistic/266206, accessed on 14 Jul 2025 365 https://www.linkedin.com/pulse/titans-entrepreneurshipseries-larry-page-zafar-khan/, 366 https://youexec.com/questions/what-are-larry-page-s-values-and-beliefs, 367 https://www.entrepreneur.com/leadership/12-quotesfrom-googles-larry-page-on-drive-success/290765, 368 https://www.theguardian.com/sustainable-business/2014/jul/23/entrepreneur-larry-page-google-innovationchange, 369 https://stec.univ-ovidius.ro/html/anale/RO/20212/Section%203/8.pdf, Page's personal journey, which began with his dismantling of things as a child and resulted in his leadership of Google. 370 He wonder, "What is the one sentence summary of how you change the world? Consistently put effort on something that is as thrilling as equally uncomfortable. If you are not engaging in activities that are unconventional, then you are engaging in the incorrect activities. The most talented individuals are eager to tackle the most significant challenges. Build new solutions and maintain a healthy skepticism toward the impossibility of the situation.”  Jeff Bezos Jeff Bezos, the founder of Amazon, is considered one of the greatest entrepreneurs in history. As a child, he transformed his parent's garage into a laboratory, driven by his persistent curiosity about the workings of objects. He obtained a dual degree in electrical engineering and computer science from Princeton University. He was hired as the youngest senior vice president at D.E. Shaw in 1990. Nevertheless, he resigned from his position in 1994, despite his success, to pursue a career in e-commerce, regardless of being aware of the potential risks. He relocated to Seattle and established Amazon as an online bookstore, which eventually evolved into a company valued at trillions of dollars. 371 Amazon is an American multinational technology corporation that is involved in the development of artificial intelligence, cloud computing, online advertising, digital streaming, and e-commerce. The company, which was initially established in 1994 by Jeff Bezos in Bellevue, Washington, began as an online marketplace for books. Over time, it expanded its offerings to encompass a diverse array of product categories, getting it the title of "The Everything Store". 372 Currently, Amazon is regarded as one of the Big Five American technology enterprises, with the other four being Alphabet, Apple, Meta, and Microsoft. In 2017, Amazon acquired the Whole Foods Market supermarket chain. 373 It is the leading e-retailer in the United States, with net sales of approximately US$178 billion in 2017. It maintains more than 300 million active user accounts worldwide. 374 In the fiscal year 2021, Amazon disclosed earnings of US$33.36 billion and annual revenue of US$469.82 billion, representing a 21.7% increase from the previous fiscal cycle. Cross-dock centers, fulfillment centers, sortation centers, delivery stations, Prime now hubs, and Prime air hubs are among the many kinds of distribution facilities that Amazon keeps. With more than 125,000 employees, there are 75 fulfillment 370 https://www.ukessays.com/essays/business/larry-pagegoogle-case-study-4039.php, 371 https://entrepreneurshares.com/entrepreneurs/jeff-bezos/, 372 Intelligence, fDi (June 2023). "Top 100 global innovation leaders". www.fdiintelligence.com, accessed on 14 Jul 2025 373 Kakutani, Michiko (October 28, 2013). "Selling as Hard as He Can". The New York Times. ISSN 03624331. Archived from the original on October 29, 2013, accessed on 14 Jul 2025 374 Schmidt, Gordon B. (2020), "Amazon", The SAGE International Encyclopedia of Mass Media and Society, Thousand Oaks, California: SAGE Publications, Inc., doi:10.4135/9781483375519.n28, ISBN 978-1-48337551-9, accessed on 14 Jul 2025 Norwegian Journal of development of the International Science No 167/2025 141 centers and 25 sortation centers. 375 Amazon ranked 36th in Forbes Global 2000 2023. 376 He stated, “If you decide that you’re going to do only the things you know are going to work, you’re going to leave a lot of opportunity on the table.” 377 In business, Bezos emphasizes the importance of a long-term perspective, arguing that concentrating on what remains constant (such as customer preferences for fast delivery and low prices) enables more strategic and sustainable development. 378 Additionally, he is of the belief that concentrating on the customer is crucial. He recommends entrepreneurs to emphasize comprehending customer needs, including those that customers may not yet perceived they have, and to work consistently to encounter and surpass those needs. His opinion on entrepreneurship is rooted in customer obsession, long-term vision, and an openness to experiment and innovate. He points out the significance of grasping customer needs, employing a backward approach to product and service development, and embracing failure as an integral component of the innovation process. 379 furthermore, he emphasizes the necessity of both flexibility in tactics and determination in vision. He acknowledges that innovation necessitates experimentation and that failure is an inherent component of the process. He advocates for entrepreneurs to view failure as a learning opportunity and to be prepared to take calculated risks. Additionally, he is of the opinion that entrepreneurs should possess both flexibility and stubbornness. 380 They should remain firm in their vision while also being prepared to modify their strategies and tactics to defeat challenges and adjust to evolving circumstances. He differentiates between founders who are sincerely dedicated to their product or service (missionaries) and those who are predominantly driven by profit (mercenaries). He values the missionary approach, as he is of believe that it results in long-term success and increased customer satisfaction. He suggests that entrepreneurs prioritize the most critical areas by employing their initial resources to systematically identify and eliminate risks. He recommends that entrepreneurs should pinpoint the fundamental components of their business that will endure over time and develop their strategies based on these constants. 381 He emphasizes the significance of sustaining an entrepreneurial spirit even as a company 375 Routley, Nick (September 8, 2018). "Amazon's Massive Distribution Network in One Giant Visualization". Archived from the original on July 7, 2019, accessed on 14 Jul 2025 376 https://web.archive.org/web/20240226095032/https://www.forbes.com/list s/global2000/?sh=4f5ab07e5ac0, accessed on 14 Jul 2025 377 https://croud.com/en-gb/resources/amazon-founder-andceo-jeff-bezos-gives-us-6-business-lessons-to-learnfrom/#anchor-3-think-long-term, 378 https://www.forbes.com/sites/tomtaulli/2021/02/03/jeffbezos-the-lessons-for-entrepreneurs/, 379 https://www.researchgate.net/publication/349380465_A_view_on_transformational_leadership_The_case_of_Jeff_Bezos, 380 https://haris-m.medium.com/jeff-bezoss-decades-oldtalk-is-a-masterclass-on-entrepreneurial-mindset1dd9f3e9b441, evolves, encouraging for a balance between robustness and nimbleness.  Elon Musk Elon Musk one of the great natural entrepreneurs in all time was born to a well-off family in Pretoria in June 28, 1971, South Africa. He is recognized for his leadership of Tesla, SpaceX, X (formerly Twitter), and the Department of Government Efficiency (DOGE). 382 Forbes estimates Musk's net worth to be US$424.7 billion as of May 2025; he has been recognized as the world's wealthiest individual since 2021. 383 Musk, born into a rich family in Pretoria, South Africa, immigrated to Canada in 1989. He obtained bachelor's degrees from the University of Pennsylvania in 1997 before relocating to California, United States, to engage in entrepreneurial endeavors. In 1995, Musk co-established the software enterprise Zip2. After its sale in 1999, he cofounded X.com, an online payment enterprise that subsequently combined to become PayPal, which was bought by eBay in 2002. During that year, Musk acquired U.S. citizenship. 384 Musk launched the space technology company SpaceX in 2002, and he has since served as its CEO and principal engineer. SpaceX has been at the leading edge of advancements in commercial spaceflight and reusable rockets. Musk became the CEO and product architect of Tesla in 2008 after joining the company as an early investor in 2004. Tesla has since become a leader in the field of electric vehicles. 385 In 2015, he co-founded OpenAI to foster artificial intelligence research but subsequently departed; increasing dissatisfaction with the organization's trajectory in the 2020s prompted him to create xAI. In 2022, he bought the social network Twitter, enacting substantial modifications and rebranded it as X in 2023. 386 In January 2025, he was selected as the leader of Trump's newly established DOGE. His further enterprises encompass the neurotechnology firm Neuralink, which he co-established in 2016, and the tunneling enterprise the Boring Company, which he launched in 2017. In the 2024 U.S. presidential election, Musk has actively engaged in politics as a prominent advocate for Trump. Musk was the biggest contributor in the 2024 U.S. pres381 https://www.inc.com/john-brandon/jeff-bezos-used-only9-words-to-perfectly-describe-entrepreneurial-success.html, 382 https://www.theguardian.com/technology/shortcuts/2018/feb/21/meet-elon-musk-family, 383 https://www.nytimes.com/2022/05/05/world/africa/elonmusk-south-africa.html, 384 Mattioli, Dana (April 16, 2025). "The Tactics Elon Musk Uses to Manage His 'Legion' of Babies—and Their Mothers". The Wall Street Journal, accessed on 14 Jul 2025 385 Usborne, Simon (February 21, 2018). "Meet the Musks: who's who in Elon's extended family?". The Guardian. ISSN 0261-3077, accessed on 14 Jul 2025 386 Schilling, Melissa (2018). Quirky: The remarkable story of the traits, foibles, and genius of breakthrough innovators who changed the world. PublicAffairs. ISBN 978-1-61039792-6, accessed on 14 Jul 2025 142 Norwegian Journal of development of the International Science No 167/2025 idential election and endorses global far-right individuals, initiatives, and political parties. 387 According to the Bloomberg Billionaires Index, Elon Musk is the richest person in the world, with an projected net worth of US$330 billion as of March 2025, , 388 and $359.5 billion reported by Forbes, 389 predominantly from his ownership stakes in SpaceX and Tesla. 390 Bloomberg reports that Elon Musk's net worth will surpass $400 billion by December 2024, marking him as the first individual to achieve this milestone. 391 He stated that he aimed to “change the world and help humanity. To transform space technology, with the ultimate goal of empowering people to live on other planets.” 392 He regards entrepreneurship as a path that is both challenging and rewarding, driven by a desire to address significant issues and a willingness to take substantial risks. He highlights the significance of establishing a strong team, achieving product excellence, and working meticulously. Musk also advocates for entrepreneurs to view failure as a learning opportunity and to consistently aspire for improvement. 393 He is of belief that entrepreneurs should concentrate on the development of businesses that contribute to society and resolve significant issues. He emphasizes the significance of taking calculated risks and not being afraid of failure, viewing it as a learning opportunity. He emphasizes the necessity of making product quality a top priority and consistently striving for improvement. Musk is of the opinion that it is crucial to surround oneself with individuals who are both talented and dedicated in order to establish a successful company. He urges entrepreneurs to embrace change as a catalyst for progress, challenge the status quo, and think outside the box. 394 Furthermore, he is of the view that entrepreneurs should consistently evaluate the value they are generating, as it is of the utmost importance to provide consumers with value. He is recognized for his unwavering commitment to his work ethic, frequently dedicating 80-100 hours per week to his endeavors. 395 He is of the opinion that success requires diligent effort. He stresses the significance of maintaining a constant dedication to one's vision and persevering through challenging circumstances. 396 His entrepreneurial philosophy is a combination of innovative thinking, hard labor, a willingness to take risks, and a focus on the development of products and services that have a positive impact on the world. 387 Lepore, Jill (April 4, 2025). "Opinion | The Rise and Fall of Elon Musk". The New York Times. ISSN 0362-4331, accessed on 14 Jul 2025 388 "Bloomberg Billionaires Index". Bloomberg L.P. Archived from the original on March 29, accessed on 14 Jul 2025 389 https://www.forbes.com/sites/forbeswealthteam/article/the-top-ten-richest-people-in-the-world/, accessed on 14 Jul 2025 390 https://people.com/elon-musk-welcomed-13th-child-5months-ago-with-ashley-st-clair-11680525, accessed on 14 Jul 2025 391 https://edition.cnn.com/2024/12/11/business/elon-musk400-billion-net-worth/index.html, accessed on 14 Jul 2025 392 https://medium.com/@nickjwaghorn/3-inspiring-entrepreneurial-lessons-i-learned-from-elon-musk-8857c329f38f,  Tom Love He was a renowned American entrepreneur and billionaire businessman who served as the founder, proprietor, and executive chairman of Love's Travel Stops & Country Stores. If you have traveled on an American highway, it is likely that you encountered one of the more than 600 Love's Travel Stops and Country Stores distributed over 42 U.S. states. 397 Tom Love launched an enterprise with over 38,000 employees employed in convenience stores across the nation, renowned for its 24-hour access, restaurant offerings, and travel items. Moreover, Love hires employees at their corporate office in Oklahoma City. A Chickasaw Nation member, Love and his spouse Judy leased their inaugural gas station in Watonga, Oklahoma, during the 1960s. In 2019, Love was admitted into the tribe's hall of fame, emphasizing that "the same love and attributes that define Love's Travel Stops represent the Chickasaw Nation”. 398 In October 1937, Thomas E. Love was born in Oklahoma City, the youngest of six siblings. He departed home at the age of 13 to pursue an education as a boarder at St. Gregory's High School in Shawnee, where he was a renowned football player. Love attended St. John's University in Collegeville, Minnesota, but he quit after less than one semester.[5] He afterwards enlisted in the U.S. Marine Corps and achieved the rank of corporal over the course of a three-year career. Initially, love was the owner of car washes and restaurants. However, he stumbled upon an opportunity in abandoned filling stations. In 1964, Love and his wife Judy leased a self-service petrol station in Watonga, Oklahoma. Love owned a lucid business vision and the capacity to motivate others to achieve it. Love established his organization on the basis of strong ethical principles. He was unafraid to question the status quo and investigate novel opportunities. He was a visionary entrepreneur who established a successful business by concentrating on customer requirements and innovative solutions. He is the founder of Love's Travel Stops & Country Stores. He is remembered as a compassionate leader who prioritized integrity, perseverance, and a dedication to serving others. Love's Travel Stops was established in response to the demand for sanitary and convenient facilities for truckers while on the road. The tagline, "Clean Places, Friendly Faces" of Love is indicative of his dedication to delivering a positive customer experience. 399 Love 393 https://www.linkedin.com/pulse/elon-musk-method-6keys-entrepreneurial-success-steve-peterson-bsee-samsc/, 394 https://magazine.startus.cc/elon-musk-and-his-must-readadvice-for-entrepreneurs-startups/, 395 https://evmagazine.com/top10/top-10-thought-leaders, 396 https://www.meydanfz.ae/blog/5-lessons-for-every-entrepreneur-from-elon-musk#, 397 https://web.archive.org/web/20171215112426/https://www.questia.com/newspaper/1P2-5853400/the-century-club-tom-loveceo-of-love-s-country, accessed on 14 Jul 2025 398 https://hof.chickasaw.net/Members/2019/Tom-Love.aspx, accessed on 14 Jul 2025 399 https://www.forbes.com/profile/judy-love/, accessed on 14 Jul 2025 Norwegian Journal of development of the International Science No 167/2025 143 has broadened its products to encompass food, technology, and additional services, indicating a readiness to adapt and evolve. Love was an unwavering supporter for Oklahoma and its business sector, urging others to chase their entrepreneurial aspirations. Love recognized the significance of his employees and consumers in establishing a prosperous enterprise. 400 He confronted difficulties and adversity with resolve and dedication to his objectives. Love esteemed his staff and stressed the significance of their contributions to the company's success. Tom Love's legacy beyond his entrepreneurial achievements. He is honored as a model for entrepreneurs and an example to the efficacy of hard work, ingenuity, and a dedication to serving people.  Mukesh Dhirubhai Ambani He is a successful businessman, entrepreneur, and Indian billionaire who serves as the chairman and managing director of Reliance Industries. 401 Mukesh Ambani is a globally renowned successful entrepreneur, predominantly for his leadership in the development of Reliance Industries into a global conglomerate. He was influential in the company's diversification from textiles to petrochemicals, refining, oil and gas, retail, and telecommunications, particularly with the introduction of Reliance Jio. With a net worth of US$108 billion, he is the 13th wealthiest individual in the globe and the wealthiest individual in Asia as of May 2025. Ambani was the first-ranked individual on Forbes' list of India's 100 wealthiest tycoons in October 2024, with a net worth of $119.5 billion. 402 Ambani's business endeavors have profoundly influenced the Indian economy and the international economic environment. Ambani was born on April 19, 1957, in the British Crown province of Aden (now Yemen) to a Gujarati Hindu household, the child of Dhirubhai Ambani and Kokilaben Ambani. His father was the owner and CEO of Reliance Industries, which is right now the largest public company in India by market capitalization. 403 He He has two sisters, Nina Bhadrashyam Kothari and Dipti Dattaraj Salgaonkar, as well as a younger sibling named Anil Ambani. He stated, "Trust and relationships." This is the foundation of life. and "It is crucial to accomplish our objectives; however, we must not sacrifice them." He has been a pivotal figure in the digital revolution in India, highlighting the potential of digital services and life. Ambani emphasizes the significance of a "can-do" attitude, self-assurance, and resilience in dealing with obstacles and attaining success. He is of view that entrepreneurs should be passionate, adventurous, and daring in their pursuit of their goals. He draws inspiration from his father, Dhirubhai Ambani, notably his emphasis on the capacity to transform dreams into reality, self-belief, and courage. 400 https://www.loves.com/AboutUs.aspx, accessed on 14 Jul 2025 401 https://web.archive.org/web/20150416033537/http://ril.com/html/aboutus/ Mukesh_Ambani.html, accessed on 14 Jul 2025 402 https://www.forbes.com/sites/chasewithorn/2024/04/02/forbes-worlds-billionaires-list-2024-thetop-200/, accessed on 14 Jul 2025 403 https://www.forbesindia.com/article/explainers/top-10companies-india-market-valuation/86307/1, accessed on 14 Jul 2025 Mukesh Ambani stayed briefly in Yemen when his father decided to return to India in 1958 to establish a trading enterprise specializing in spices and textiles. 404 His businesses encompass multiple sectors, including technology, banking, and consumer goods, considerably contributing to India's economic expansion. Ambani pioneered the establishment of the world's largest grassroots petroleum refinery in Jamnagar, India. He also founded Reliance Retail, a wide retail network that includes both online and brick-andmortar locations. 405 His reputation as a prominent global entrepreneur and a key figure in Indian business has been solidified by his strategic vision and ability to execute large-scale projects, such as the Jamnagar refinery. Ambani has demonstrated a readiness to take calculated risks, such as investing heavily in Jio's infrastructure and services, which yielded handsomely. He has exhibited the capacity to adjust to changing market conditions and diversify Reliance's portfolio, entering into new sectors like retail and green energy. This story inspires aspiring entrepreneurs by illustrating the potential for development and innovation in emerging markets. 406 Ambani thinks that growth is an ongoing process and integral aspect of life for his organization. He regarded relationships and trust to be essential to success. He recognizes that failure is a part of the journey and that one should not be disheartened by initial obstructions. Ambani has emphasized the necessity for businesses to adjust and innovate to remain relevant, mainly in the face of evolving market dynamics. He recognizes that failures are a inherent aspect of the entrepreneurial journey and inspires learning from them instead of being discouraged.  Ratan Tata Ratan Tata was an Indian industrialist, philanthropist and one of the most successful entrepreneurs and businessman in all time. From 1991 to 2012, he served as the chairman of Tata Group and Tata Sons. He is renowned as a visionary entrepreneur and leader who converted the Tata Group into a global powerhouse while stressing ethical practices and social impact. 407 He is recognized for his strategic acquisitions, innovative product creation (such as Tata Nano), and noteworthy investments in startups, especially within the Indian tech sector. Ratan Tata was the son of Naval Tata, who was adopted by Ratanji Tata, the son of Jamshedji Tata, the founder of the Tata Group. He acquired a bachelor's degree in architecture from Cornell University College of Architecture. In 1975, he also partic404 https://www.rediff.com/money/special/pix-special-howdhirubhai-ambani-changed-the-idiom-of-doing-business/20150114.htm, accessed on 14 Jul 2025 405 https://www.britannica.com/money/Mukesh-Ambani, accessed on 14 Jul 2025 406 https://thebusinessfame.com/mukesh-ambani-successstory/, accessed on 14 Jul 2025 407 https://www.independent.co.uk/news/business/analysisand-features/what-makes-the-tata-empire-tick10024897.html, accessed on 14 Jul 2025 144 Norwegian Journal of development of the International Science No 167/2025 ipated in the Harvard Business School (HBS) Advanced Management Program. 408 He became a member of Tata Group in 1962, commencing on the shop floor of Tata Steel. After J. R. D. Tata's retirement in 1991, he succeeded him as chairman of Tata Sons. 409 In an effort to transform Tata from a mainly India-centric organization into a global enterprise, the Tata Group acquired Jaguar Land Rover, Corus, and Tetley during his tenure. 410 Ratan Tata’s success story illustrates his progression from a modest origin to transformation of Tata Group into a global powerhouse via visionary leadership and innovation Ratan Tata's success story illustrates his progression from modest origins to the transformation of Tata Group into a global powerhouse via visionary leadership and innovation. Tata emphasizes that success is derived from taking action and implementing ideas. He urges entrepreneurs to have unwavering faith in their vision and to boldly implement it. He highlights the significance of ethical business conduct and societal accountability. He urges them to establish enterprises that generate enduring influence and provide value for all stakeholders. 411 He inspires perseverance and the capability to recover from setbacks. His story emphasizes the significance of perseverance and determination when confronted with adversity, stressing that failures can serve as learning experiences and possibilities for progress. Ratan Tata directed the expansion of the Tata Group into many areas, including steel, autos, telecommunications, and software, utilizing both organic development and smart acquisitions of companies such as Tetley, Corus, and Jaguar Land Rover. He advocated for the creation of the Tata Nano, the world's most economical automobile, exemplifying a dedication to enhancing product accessibility for a broader consumer demographic. Following his retirement, Ratan Tata emerged as an active investor in Indian startups, sponsoring multiple enterprises across diverse sectors and facilitating the expansion of the Indian startup ecosystem. 412 His leadership was defined by an enduring commitment to ethical business practices, corporate social responsibility, and charity, which positively influenced Indian society. Under his leadership, the Tata Group experienced substantial revenue and profit development, evolving from a predominantly India-focused enterprise to a global conglomerate. 413 Ratan Tata's entrepreneurial legacy is characterized by strategic vision, innovative spirit, ethical lead408 https://www.businesstoday.in/technology/news/story/from-ola-paytm-lenskart-to-urban-companyratan-tatas-most-successful-startup-investments-4494552024-10-10, accessed on 14 Jul 2025 409 https://www.hbs.edu/creating-emerging-markets/interviews/Pages/profile.aspx?profile=rntata, accessed on 14 Jul 2025 410 https://timesofindia.indiatimes.com/gadgets-news/ratantata-invests-in-companionship-startup-goodfellows-why-heinvested-the-business-model-and-other-details/articleshow/93613980.cms, accessed on 14 Jul 2025 411 https://www.cnbctv18.com/entrepreneurship/ratan-tatasadvice-to-entrepreneurs-strongly-believe-in-your-idea2607861.htm, 412 https://www.thedailystar.net/tech-startup/news/10-business-lessons-ratan-tata-3724566, ership, and dedication to social responsibility, rendering him a respected and esteemed person in the corporate realm and beyond. 414 His outstanding approach to corporate leadership, ethical commitment to entrepreneurship, and philanthropic initiatives continue to inspire millions of young entrepreneurs globally. Tata claims that enterprises ought to enhance societal welfare using diverse methods. Tata recommends entrepreneurs to choose sustained growth over short-term profits. He urges entrepreneurs to adopt new technologies and remain receptive to change. Tata thinks that setbacks are a natural part of the entrepreneurial process and serve as useful learning experiences. 415 Ratan Tata is recognized for his sincerity and grounded mentality. He stresses the significance contributing to the community and making a positive impact on society.  Lee Byung-Chul He launched Samsung and is widely acknowledged for his crucial contributions to South Korea's economic advancement. Lee Byung-chul developed Samsung into an international tech giant. Lee established Samsung in 1938, at the age of 28. On 1 March 1938, Lee founded a transportation and real estate enterprise in Daegu, which he labeled as Samsung Trading Co, the precursor of Samsung, signifying "three stars." 416 He is considered as the most successful business tycoon in South Korea's history. Lee Byung-chul founded Samsung as a small trading company in Daegu. He joined high school at Joongdong High School in Seoul, and in 1929, he enlisted in the Department of Political Economy at Waseda University in Tokyo. However, he did not complete his studies and ultimately decided to withdraw out in 1931. 417 Lee acquired an honorary doctorate from Boston College in 1982.In his later years, Lee held the position of chairman of the Federation of Korean Industries and was recognized as the richest man in Korea. Lee launched Samsung in 1938, which evolved into the largest conglomerate in South Korea. He is regarded as one of the most successful business magnates in Korean history. He had a crucial role in positioning Samsung as a leader in the electronics sector, especially in consumer electronics. He is acknowledged as one of the most significant leaders in South Korea's economic advancement, converting the nation from an agrarian community into a global economic powerhouse. 418 Lee Byung-chul's tactics and investments in research and development were important in establishing Samsung 413 Naidu, Shantanu (2021). I Came Upon a Lighthouse: A Short Memoir of Life with Ratan Tata. Sanjana Desai. HarperCollins India. ISBN 978-93-90327-52-2, accessed on 14 Jul 2025 414 https://www.cheggindia.com/earn-online/success-storyof-ratan-tata/, accessed on 13 Jul 2025 415 https://economictimes.indiatimes.com/news/india/famous-quotes-of-ratan-tata-indias-most-humble-businessman/articleshow/114096699.cms?from=mdr, 416 https://www.koreaittimes.com/news/articleView.html?idxno=7223, accessed on 13 Jul 2025 417 https://www.koreaittimes.com/news/articleView.html?idxno=7223, accessed on 13 Jul 2025 418 https://pantheon.world/profile/person/Lee_Byung-chul, accessed on 17 Jul 2025 Norwegian Journal of development of the International Science No 167/2025 145 as a worldwide entity. 419 His contributions assisted the development of contemporary South Korea, converting it into a significant economic power. Lee Byung-chul's legacy extend beyond the Samsung brand, embracing his vision for industrial advancement and national growth. He established elevated criteria and intended his employees to comply with them. Nonetheless, he possessed a distinct vision for Samsung's future, pushing the business to attain worldwide leadership across multiple sectors. He pioneered innovative management strategies, such as empowering subordinates, advancing women to leadership positions, and integrating international talent. He conceptualized a leadership approach that amalgamated autocratic governance with a strong vision and an emphasis on national advancement. 420 He valued in the significance of quality, innovation, and discipline within his organization.  Chung Ju-yung He was one of the great entrepreneurs in South Korea's economic development is the founder of Hyundai. He stated, "It is not necessary to remember one's success. That should be remembered by others instead." Hyundai’s remarkable journey from a small repair shop to a global powerhouse, is a story of resilience, innovation, and bold leadership. Central to this development is Chung Ju-young, a rural youth who overcame poverty and hardship to establish one of the largest companies globally. 421 By the late 1950s, Hyundai emerged as a pioneer in Korea's reconstruction, and its achievements contributed significantly to the nation's rapid economic advancement. Chung Juyung was born into an impoverished family in Tongchon County, Korea, which was then part of the Empire of Japan, today known as Kangwon Province. He originally aimed to become a schoolteacher; however, his family did not possess the financial resources to facilitate his study. 422 When not engaged in work on the family farm, Chung attended his grandfather's Confucian school. His business aptitude became evident during travels to town, where he sold wood to financially assist his family. In 1946, following Korea's independence from Japanese rule, Chung established Hyundai and Hyundai Civil Industries, foreseeing the post-war reconstruction and industrialization. 423 Chung secured government contracts and was charged with constructing a significant portion of South Korea's transportation infrastructure, including the Soyang Dam in 1967, the 419 https://www.samsungfoundation.org/html/eng/foundation/culture_foundation.asp, accessed on 13 Jul 2025 420 https://www.thedailystar.net/toggle/news/the-man-whobuilt-samsung-tale-strategy-controversy-success-1985029, accessed on 13 Jul 2025 421 https://www.linkedin.com/pulse/chung-ju-young-storyfrom-farmboy-founder-dollar-empire-wilson-luna-vktdc, accessed on 17 Jul 2025 422 https://www.koreatimes.co.kr/lifestyle/peopleevents/20110907/5-chung-ju-yung-embodiment-of-koreaseconomic-miracle, accessed on 17 Jul 2025 423 Steers, Richard M. (1999). Made in Korea: Chung Ju Yung and the Rise of Hyundai. New York, NY: Routledge. ISBN 9780415920506, accessed on 17 Jul 2025 424 Richard M. Steers (1999). Made In Korea: Chung Ju Yung and the rise of Hyundai. Routledge. ISBN 0-415-92050-7, accessed on 17 Jul 2025 Gyeongbu Expressway in 1970, the world's largest shipyard in Ulsan, and the Kori Nuclear Power Plant, among others. 424 Chung's cooperation with the government in the 1950s was crucial, as Hyundai was among the "chaebols," family-owned conglomerates that obtained financial assistance to stimulate industrial development. He had a pivotal role in establishing Hyundai Heavy Industries, the largest shipbuilding company globally, and Hyundai Motor Group, a prominent automobile manufacturer. Chung Ju-yung's son guided Samsung's evolution into a global technology powerhouse, focusing on semiconductors, cellphones, and electronics. 425 Chung Ju-yung's journey was defined by conquering several challenges, transitioning from modest origins to becoming a multinational corporation. He regarded failures as chances for learning and advocated for an unwavering quest for solutions in the face of challenges. He was unafraid of questioning conventional norms and prevailing common sense when he saw it beneficial to advancement. 426 Hyundai's innovative approach to a variety of industries was significantly influenced by this willingness to consider outside the box. Under the leadership of Chung Ju-yung, Hyundai expanded its operations to include infrastructure initiatives, automobiles, and shipbuilding. Hyundai, a company that was pivotal in the economic expansion of South Korea following the conflict, was established by him. Chung Ju-yung was of belief that the combination of a strong will to succeed and one's potential could generate an powerful force for growth and innovation. He urged individuals to surpass their perceived limitations and realize their maximum potential. 427 Chung Juyung highlighted that success is mostly a consequence of determination, with confidence playing a vital role. He supposed that tackling every task with a concentrated and persistent mindset was crucial. He emphasized the significance of putting in one's all, irrespective of the task's magnitude. 428 He was acknowledged for his trust in putting utmost effort and pursuing the optimal outcome, rather than accepting to mediocrity. 429 He perceived entrepreneurship as a combination of firm determination, diligent effort, and a readiness to challenge established norms. He held a conviction in the efficacy of personal endeavor and the capacity for collective success through inventive thought and a strong work ethic. 425 Kirk, Donald, 1938- (2015). Korean dynasty : Hyundai and Chung Ju Yung. London: Routledge. ISBN 9781315483191, accessed on 17 Jul 2025 426 Steers, Richard M. (1999). "11: Passing the Torch". Made in Korea: Chung Ju Yung and the Rise of Hyundai. New York, New York: Routledge. pp. 170–182. ISBN 0-415-92050-7, accessed on 17 Jul 2025 427 Cha, Victor D. (2013). The Impossible State: North Korea, Past and Future. Internet Archive. New York: Ecco. pp. 386– 387. ISBN 978-0-06-199850-8, accessed on 17 Jul 2025 428 https://koreajoongangdaily.joins.com/news/article/article.asp x?aid=2754257, accessed on 17 Jul 2025 429 https://www.koreaherald.com/article/3090349, accessed on 17 Jul 2025 152 Norwegian Journal of development of the International Science No 167/2025 In 1974, in accordance to build for industrial modernization, he developed Liaoyang Petrochemical Fiber General Factory in Liaoyang. Within same year, Ren was inducted into the army and enlisted the 22nd separation from the Infrastructure Engineering Corps of the Chinese People's Liberation Army (PLA). 476 He worked as a technician and engineer, working on automation processes in the chemical industry. During most of his military career, Ren was rejected entry to the Communist Party owing to his parents' social background and his father's work for the Nationalist government. He was capable to join the Party soon prior his retirement. Ren was displaced to a scientific research base. Ren Zhengfei, has establish Shenzhen Huawei Technology Co., Ltd. in 1987. At the starting of founding the company, friends suggested him to generate money with high profits, but Ren believed that was not a enduring solution. However, develop the entrepreneurship gradually and firmly. He has served president of Huawei since 1988. 477 Ren has required to integrate CCP philosophy into Huawei's management and corporate culture. He said that if a dispute between the interests of Huawei and those of the CCP's rose, he would "choose the CCP whose interest is to assist the people and all human beings" and that he could not deceive the principle of helping all human beings. 478 Ren Zhengfei intentions to expand global market share in four phases: the first is to penetrate the neighboring Hong Kong market; the second is to increase market share in Russia and South America; the third is intended to Southeast Asia, the Middle East, and Africa; and the fourth is to designed to developed countries. According to access the global market, Ren proposed the idea of "Huawei globalization": the globalization of management, R and D, talent, sales, and corporate culture. Since 1996, Ren has engaged IBM and various American and British firms to restructure Huawei's research and development, supply chain, financial, and market systems, as well as to consolidate its product development system, supply chain, human resource management, financial management, and quality control. In 2017 the company had an annual revenue of US$92.5 billion. 479 Huawei operates independently of Ren, as its shares are owned by employees; yet, the ownership structure remains ambiguous. 480 Ren Zhengfei perceives entrepreneurship as a dynamic and developing process that necessitates a clear sense of purpose, a dedication to innovation, and an openness to adapt and learn from both successes and setbacks. Ren Zhengfei asserts that a specific aim is essential for entrepreneurial success. The European Business 476 Marquis, Christopher; Qiao, Kunyuan (2022). Mao and Markets: The Communist Roots of Chinese Enterprise. Kunyuan Qiao. New Haven: Yale University Press. doi:10.2307/j.ctv3006z6k. ISBN 978-0-300-268836. JSTOR j.ctv3006z6k. OCLC 1348572572. S2CID 253067 190, accessed on 17 Jul 2025 477 https://finance.ifeng.com/business/renwu/20130206/765005 7.shtml, accessed on 17 Jul 2025 478 https://blogs.cisco.com/news/huawei-and-ciscos-sourcecode-correcting-the-record, accessed on 17 Jul 2025 479 https://web.archive.org/web/20180803044919/https://www.d Review indicates that he perceives Huawei's objective as enabling clients to achieve their aspirations via communication technology, which is central to the company's operations. He urges staff to adopt this aim and strive tirelessly to attain it. He perceives entrepreneurship as a process of perpetual learning, adaptability, and steadfast dedication to consumer value. He stresses the significance of a purpose-oriented strategy, technical advancement, and a synergistic interaction between the government and private sector. 481 He also recognizes that the business environment is ever changing and emphasizes the necessity for entrepreneurs to be lifelong learners. He explained the difficulties he encountered in the initial stages, lacking comprehension of things such as supermarkets and bathrooms in their modern context. This stresses the significance of adjusting to new technologies and business models. He highlights the necessity of deriving lessons from errors and setbacks, perceiving them as chances for development. He considers technical innovation to be a fundamental catalyst for success in the 21st century. He has continuously emphasized the significance of research and development, especially in fundamental sciences and mathematics. He asserts that strong foundations in these domains is essential for sustained competitiveness and success. Ren promotes a synergistic partnership between the government and private sector entities. 482 He believes that a legalized and market-oriented environment, where the government administers according to law, is essential for fostering economic vitality. He also emphasizes the importance of enterprises focusing on value creation, technological breakthroughs, and law-abiding operations. 483 He acknowledge the significance of sustainable development and social responsibility. Ren has advocated for company investment in education and development. He recognizes the necessity of overcoming obstacles and adjusting to global changes like U.S. chip restrictions.  Liu Chuanzhi He established Lenovo and is regarded as one of the prominent entrepreneurs in Chinese history. He was born on 29 April 1944 into a modest Chinese household. Lenovo is the preeminent global vendor of personal computers by unit sales. Liu was concerned about his financial situation; in 1984, he had an expanding family but a salary of merely 100 RMB per month. By the early 1980s, Liu had attained considerable success as a computer scientist yet remained dissatisfied with his career. Although his contributions to magnetic data storage were significant, they did not possess immediate practical applicability. He stated, "We were the igianalysys.com/huawei-achieves-annual-revenue-of-92-5bn/, accessed on 17 Jul 2025 480 https://www.huawei.com/en/corporategovernance#board-of-directors, accessed on 17 Jul 2025 481 https://www.tbsnews.net/world/global-economy/huaweifounder-says-confident-firms-ability-survive-pressure198859, accessed on 17 Jul 2025 482 https://www.europeanbusinessreview.com/leadinghuawei-seven-leadership-lessons-of-ren-zhengfei/#, 483 https://www.globaltimes.cn/page/202506/1335800.shtml#, accessed on 17 Jul 2025 Norwegian Journal of development of the International Science No 167/2025 153 premier computer technology research organization in China." We established the first electron-tube computer and the first transistor-based computer. However, we created only one of each item. Subsequently, we proceeded to create something distinct. The work was merely archived”. 484 Liu established Lenovo (formerly named Legend) in 1984 alongside a group of ten engineers in Beijing, utilizing 200,000 yuan and occupying an office of 20 square yards in area. Liu conceived the idea to establish Lenovo due to insufficient financing at the Chinese Academy of Sciences (CAS). Liu's superior arranged a loan of 200,000 yuan from the academy to him and the other co-founders. The founders of Lenovo, all scientists and engineers, encountered challenges due to their unfamiliarity with market-driven business processes, traditional Chinese ambivalence towards trade, and anti-capitalist communist ideology. Lenovo attempted, but did not succeed, in marketing a digital watch. Liu identifies Hewlett-Packard as a significant source of inspiration for Lenovo. Lenovo's subsequent acquisition of IBM's personal computing division positioned him as the first Chinese CEO to oversee the takeover of a significant American company. 485 Liu Chuanzhi, the 75-year-old owner of Lenovo Group, has retired as chairman of Legend Holdings, the parent company of the world's greatest personal computer manufacturer in 2019. 486 He respects personalities like Bill Gates for their philanthropic initiatives, proposing that entrepreneurs should endeavor to balance business success with social contributions. He highlights the significance of effective risk management, especially in acquisitions, taking into account brand awareness, employee retention, and cultural integration. He promotes establishing a solid basis for the organization, emphasizing a comprehensive understanding of the sector, adaptability to market fluctuations, and a constructive corporate culture. He contends that successful entrepreneurs need to be conscious of their societal impact and proactively engage in its enhancement. He perceives entrepreneurship as a journey necessitating not only business expertise but also a profound sense of social responsibility and a dedication to establishing a healthy, sustainable enterprise. 487 He stresses the significance of foresight, an efficient team, and a sound management foundation, while also emphasizing the necessity for honesty and integrity in business transactions. Liu emphasizes the necessity of predicting and planning for market uncertainty, urging entrepreneurs to adopt a proactive approach to overcome problems. He asserts that cultivating a trustworthy and dependable team is essential for sustained success, highlighting the significance of col484 Ling, Zhijun (2006). The Lenovo Affair. Singapore: John Wiley & Sons. ISBN 978-0-470-82193-0, accessed on 17 Jul 2025 485 https://web.archive.org/web/20130701190345/https://www.s ilu.com/articles/354-ceo-profile-liu-chuanzhi-founder-oflenovo, accessed on 17 Jul 2025 486 https://www.scmp.com/tech/tech-leaders-andfounders/article/3042660/liu-chuanzhi-godfather-chinesepc-industry-retires, accessed on 17 Jul 2025 lective strength over individual excellence. Liu emphasizes the significance of integrity and ethical behavior in all business transactions, cautioning against actions that could tarnish the reputation of Chinese entrepreneurs. 488 He recommends that leaders of major corporations prioritize establishing a strong management foundation, which include identifying suitable personnel, formulating an effective plan, and guaranteeing proficient execution. Liu recognizes that setbacks and failures are unavoidable, encouraging entrepreneurs to maintain persistence and concentration on their objectives. 489 Liu also recognizes the necessity for innovation and adaptation, particularly in the digital age. He stated, entrepreneurship is comprehensive, involving not only the quest of profit but also the establishment of a sustainable and responsible company that contributes to society. 7. Analysis of Lessons Learn from Successful Entrepreneurs and Business Ventures There are ups and downs, wins and losses, on the road to becoming an entrepreneur. It's about beginning from scratch and never giving up on their idea until they become a hero in their own right. Resilience, adaptability, and a desire to learn from both successes and setbacks are all essential components of a successful business. Some important lessons include regarding failure as a chance to learn, working with others to establish great teams, and always seeking fresh information and diverse points of view. Additionally, for long-term success, it's essential to understand the importance of vision, passion, risk tolerance, and customer relationships. Successful business owners see failures as chances to learn, not as reasons to give up. Entrepreneurs are always looking for fresh information and ways to adapt to the changing times in their company. They should be passionate enough about their firm and its objective to keep going and come up with new ideas. They should understand that taking calculated risks is essential for progress and be prepared to adjust their plan when necessary. Starting your own business might be hazardous, but it can also be advantageous. According to the online course Entrepreneurship Essentials, only 50% of new businesses last five years, and only 25% last 15 years. William Sahlman, a professor at Harvard Business School, states in his book "Entrepreneurship Essentials" that "for every Amazon.com or Uber, there are scores of companies few can remember." Sahlman also states, "A company is successful when it finds and takes the right steps along the way." It has learned how to make and keep customers happy. If they're considering starting their own business or are 487 https://www.researchgate.net/publication/5223277_Lenov o_An_Example_of_Globalization_of_Chinese_Enterprises, accessed on 19 Jul 2025 488 https://knowledge.wharton.upenn.edu/article/lenovogroups-liu-chuanzhi-on-building-a-healthy-company/, accessed on 19 Jul 2025 489 https://www.straitstimes.com/business/entrepreneurshipconsumption-will-propel-chinas-growth-lenovo-founder, accessed on 19 Jul 2025 154 Norwegian Journal of development of the International Science No 167/2025 just getting started, it's crucial to learn from others' mistakes and identify which choices helped a company stay in business. 490 According to economics, entrepreneurship, including capital, labor, land, and natural resources, can be profitable. An essential component of a country's ability to thrive in a dynamic and increasingly competitive global economy is its entrepreneurial vision, which is characterized by exploration and risk-taking. The launch of a new company is the best illustration of entrepreneurship. Entrepreneurs are frequently referred to as innovators or sources of new ideas since they replace outdated products with innovative ones and introduce them to the market. It can be divided into homebased or small businesses and large corporations. 491 According to economics, an entrepreneur's profits are derived from a mix of labor, capital, land, and natural resources. In summary, anyone may become an entrepreneur if they have the drive and tenacity to launch a new business and manage all the associated risks. The process of improving entrepreneurs' knowledge and abilities through various classroom coaching, programs, and training is known as entrepreneurship development. Strengthening and expanding the number of entrepreneurs is the primary goal of the development process. One of the most critical traits of resilient and flexible entrepreneurs is their capacity to learn from both success and failure. The process of cultivating and enhancing the skills, knowledge, and resources necessary for individuals to start and operate profitable businesses is known as entrepreneurial development. It entails a range of initiatives designed to encourage, educate, and support business owners, ultimately promoting economic growth and social progress. Programs for entrepreneurship development focus on equipping participants with real-world skills, including operations, marketing, financial management, and business planning. 492 Training often covers regulatory requirements, market realities, and access to resources for efficient business management. The growth of entrepreneurship depends on the presence of strong support networks, such as banks, governmental bodies, and private groups, to offer direction and aid. 493 Cultivating an entrepreneurial mindset marked by creativity, risk-taking, resilience, and a proactive approach to problem-solving is another key aspect of entrepreneurship development. This entails providing entrepreneurs with access to capital, facilities, networking opportunities, and mentorship to help them start and grow their businesses. The process of entrepreneurial development is essential for promoting a flourishing business ecosystem, propelling economic growth, and enabling individuals to make meaningful 490 https://online.hbs.edu/blog/post/successful-entrepreneurstories, 491 https://www.youtube.com/watch?v=74dBvveSQQM, 492 https://aits-tpt.edu.in/wpcontent/uploads/2023/08/Entreprenurship-Developmentmin.pdf, 493 https://www.bajajfinserv.in/entrepreneurshipdevelopment, 494 https://www.youtube.com/watch?v=nfOPUN_0xm8, 495 https://www.investopedia.com/terms/e/entrepreneur.asp#, accessed on 17 Jul 2025 contributions to society. Being an entrepreneur involves more than just launching one or two companies; it also requires having the right mindset and motivation to succeed in the business world. 494 Successful entrepreneurs share a similar mindset and possess certain personal traits that enable them to excel in business. Successful entrepreneurs, such as the ambitious Richard Branson, have an inner drive to succeed and build their businesses. They don't need a Harvard Business degree or technical knowledge in a particular area. Entrepreneurs can continually improve their methods and establish a stronger firm by viewing both success and failure as opportunities to learn. An entrepreneur is typically a person who starts a new firm, taking on most of the risks and reaping most of the benefits. Entrepreneurship is the act of starting a business. 495 "Enterprising individuals" and "entrepreneurial opportunities" are both components of entrepreneurship, according to Shane and Venkataraman. As such, researchers should examine the characteristics of those who spot opportunities when others do not, as well as the opportunities themselves and the relationship between individuals and opportunities. 496 However, Reynolds et al. contend that people are primarily motivated to pursue entrepreneurial endeavors by opportunity or necessity; in other words, people pursue entrepreneurship primarily because they see business opportunities that meet their need for achievement or because they need to survive. 497 An entrepreneur never succeeds by waiting for an opportunity to present itself. They always have a plan and follow through on it. Everybody plans things differently. However, successful people frequently have a strategy. An aspiring entrepreneur aspires to emulate the lifestyles of prosperous businesspeople. 498 A few successful entrepreneurs' lessons learned, as well as their tactics and decision-making abilities, should be covered. During their entrepreneurial journey, successful entrepreneurs discovered the most crucial lesson. Therefore, honesty, resilience, creativity, flexibility, vision, leadership, passion, tolerance, communication, and balance may be essential traits for entrepreneurs. Nonetheless, some novel discoveries are worth considering. * Entrepreneurs frequently balance a lot of obligations. Setting aside time for strategic planning enables a more comprehensive picture of the company and helps avoid being mired in daily responsibilities. Breaking away from the usual makes room for new concepts and creative fixes. Setting aside time for planning ensures that everyone is on the same page and working toward the same goals, which helps to improve business goals and strategies. Generally speaking, we dislike rising early, especially before dawn. However, 496 Shane, S. (2000). "The Promise of Entrepreneurship as a Field of Research". Academy of Management Review. 25 (1): 217–226. doi:10.5465/AMR.2000.2791611, accessed on 13 Jul 2025 497 Reynolds PD, Hay M, Bygrave WD et al. (2002) Global Entrepreneurship Monitor: 2002 Global Executive Report. Kansas City, MO: Kauffman Foundation, accessed on 13 Jul 2025 498 Charles W. L. Hill; Gareth R. Jones (2008). Essentials of Strategic Management. South-Western College Pub. ISBN 978-0-547-19432-5, accessed on 17 Jul 2025 Norwegian Journal of development of the International Science No 167/2025 155 the majority of prosperous businesspeople have a tendency to rise early. We have more time in the morning to be conscious and to make a daily schedule, take care of our health, or do anything else we need to do when we get up earlier. Remarkably, Tim Cook, the CEO of Apple, gets up around 3:45 a.m. Nevertheless, he goes to bed at 8:30 p.m. and gets about seven hours of sleep 499 and this practice makes him more productive, and gets extra time to put into other projects. This enables entrepreneurs to design strategies with a fresh perspective, which is the first step they must take if they want to succeed. Therefore, setting aside specific time for strategic planning from a new angle is quite beneficial to entrepreneurs. 500 Ultimately, this leads to more successful company strategies by enabling innovative thinking, proactive risk management, and focused decision-making. Instead of responding to crises as they occur, strategic planning enables entrepreneurs to anticipate potential obstacles and develop effective mitigation plans. Strategic planning maximizes impact and efficiency by helping to identify high-priority projects and allocating resources efficiently. Entrepreneurs can capitalize on new opportunities and adapt to shifting market conditions with the aid of strategic planning. * As a new business owner, they have a lot to gain and nothing to lose. Creativity is vital for small firms, and they are granted permission to try their hardest. However, in the startup sector, even failure serves as an additional advantage. They must keep an eye on their rivals but refrain from trying to imitate them. They must identify their incorrect approach and be creative, considerate, committed, and able to examine how others are implementing new ideas. Because consumer trends can shift quickly, market demand is unpredictable, which presents challenges for business owners. When starting a business, entrepreneurs must deal with a variety of risks and difficulties, and they should take precautions against the ones that could most likely impact them. There is no guarantee of success or a monthly income for entrepreneurs, and in the early stages of starting a business, it can be challenging to spend time with friends and family. The majority of entrepreneurs are risk-takers by nature, or at the very least, strategic visionaries with a well-defined strategy for introducing a new product or service to close a market gap. On a personal level, many entrepreneurs take significant risks by quitting secure employment to devote their time, energy, and frequently their own funds to starting a firm. They must keep in mind that not everything can be managed by a solid company plan or appropriate insurance. Threats and risks that businesses, enterprises, and new entrepreneurs may encounter in499 https://www.businessinsider.in/strategy/apple-ceo-timcook-wakes-up-every-day-at-345-a-m-i-tried-doing-it-for-aweek-and-it-made-me-shockingly-productive- /articleshow/70881139.cms, accessed on 13 Jul 2025 500 https://www.quora.com/How-do-you-stay-organized-andmanage-time-effectively-as-an-entrepreneur-1, accessed on 17 Jul 2025 501 https://blog.fresent.com/taking-risks-entrepreneurssuccessful/, accessed on 17 Jul 2025 clude earthquakes, tornadoes, hurricanes, wars, and recessions. A product may have a sizable market in an impoverished nation, but depending on the political situation at any given time, these nations may be unsafe and unstable, or logistics, taxation, or tariffs may make commerce challenging. A company's reputation is crucial, and this is especially true when a new venture is introduced, as clients often have preconceived notions. A new business may never take off if it fails to satisfy customers from the outset. These days, word-of-mouth advertising and company reputation are greatly influenced by social media. A single negative post or tweet from a disappointed customer might result in significant income losses. 501 Additionally, they should be aware that certain business sectors have a history of high failure rates, and entrepreneurs in these industries may struggle to find investors. These industries include consultancy, retail, and food service. According to data from the U.S. Bureau of Labor Statistics, 79.1% of small firms founded in March 2021 reached their first anniversary in 2022, 67% reached their second anniversary in 2023, and 59.2% reached their third anniversary in 2024. Therefore, entrepreneurs should anticipate making some costly blunders. However, businesses have a better chance of success if they have the proper strategy, money, and flexibility. 502 By prioritizing strategic thinking, entrepreneurs can cultivate a more sustainable and successful business, even in the face of the challenges of running a startup. * In the beginning, entrepreneurs or founders shouldn't worry too much about loss or risk because you can't succeed without taking risks. Bill Campbell, an American businessman who is the chairman of the board of trustees of Columbia University and the board of Intuit, famously observed, "If companies don't keep coming up with new ideas, they're going to die." 503 Grace Hopper, a computer scientist, mathematician, and Rear Admiral in the US Navy, remarked, "A ship in port is safe, but that's not what ships are built for." 504 In addition to creating groundbreaking items, successful entrepreneurs also set trends by developing innovative techniques that enhance the functionality of existing products. Therefore, entrepreneurs need to be risktolerant. Risk is often linked to entrepreneurship. An entrepreneur must accept risks while starting a business, but they must also take precautions to reduce those dangers. When starting a new business, many things can go well, but many things can also go wrong. Entrepreneurs who actively manage the risk-reward connection put their businesses in a position to "benefit from the upside," according to Entrepreneurial Essentials. 505 Jack Ma says, “If you’ve never tried, how will you ever know if there’s any chance?” He also adds, 502 https://www.investopedia.com/ask/answers/040615/whatrisks-does-entrepreneur-face.asp, accessed on 17 Jul 2025 503 https://en.wikipedia.org/wiki/Bill_Campbell_(business_exec utive), accessed on 17 Jul 2025 504 Ann., Camp, Carole (2004). American women inventors. Berkeley Heights, NJ: Enslow Publishers. ISBN 978-0-76601538-8, accessed on 13 Jul 2025 505 https://online.hbs.edu/courses/entrepreneurshipessentials/, accessed on 15 Jul 2025 156 Norwegian Journal of development of the International Science No 167/2025 “Once in your life, try something, and work hard at something. Try to change. Nothing bad can happen.” 506 Successful entrepreneurs are comfortable with encountering some level of risk to reap the rewards of their efforts; however, their risk tolerance is tightly related to their efforts to mitigate it. * In the business world, anyone may be successful, whether they are an introvert or an extrovert. Introverts and extroverts think about things in different ways, which is why they both bring their strengths to the table as entrepreneurs. Because introverts often prefer to be alone, many people think they wouldn't do well in business. However, numerous successful entrepreneurs have demonstrated that this perception is biased and unfounded. 507 Just because introverts prefer to be alone or with a small group doesn't mean they dislike people. In reality, introverts are typically really adept at figuring out what other people need and reading them. Most of the time, introverts observe others and how they behave. One drawback of this is that they can often see through the mask and experience someone else's anguish more easily. 508 Nonetheless, a collaboration or partnership between various personality types in the workplace can yield the best possible final outcome. These individuals can succeed in the business sector by utilizing their inventiveness and ingenuity. Steve Jobs and Steve Wozniak, co-founders of Apple, are two distinct entrepreneurs. 509 Wozniak is a self-proclaimed introvert. But, through their partnership, they were able to coordinate their skill sets to produce an incredibly successful company. * There are two sides to a coin: success and failure. Regrettably, many successful businesspeople fail in the early stages. Let's now consider Jack Ma, the founder of Alibaba. Alibaba first failed in 2003 because the majority of the business did not align with Jack Ma's vision. Additionally, he was in danger of bankruptcy within 18 months. But in just five years, he learned from his mistakes and emerged as eBay's main competitor. His success story demonstrates that every new business owner should either learn from their failures or, in the event of success, always consider how they can improve to be more productive. An entrepreneur is therefore sufficiently passionate. They are prepared to put in the extra work required to succeed because they are passionate about and deeply invested in their business idea. Instead of being mutually exclusive, success and failure are intertwined and necessary components of the entrepreneurial path. While success validates methods and spurs additional innovation, failure offers valuable lessons and opportunities for growth. The secret to long-term business success is to embrace both, 506 https://www.inc.com/larry-kim/25-billionaire-quotesabout-success-in-business-amp-life.html, accessed on 15 Jul 2025 507 https://www.linkedin.com/pulse/introverts-cansuccessful-entrepreneurs-yvonne-a-jones-cps-ra8xe/, accessed on 13 Jul 2025 508 https://medium.com/swlh/you-can-be-an-introvert-asuccessful-entrepreneur-if-you-know-certain-things84e84b6a09c8, 509 https://www.truity.com/blog/5-super-successfulintroverts-and-what-they-did-right, accessed on 13 Jul 2025 learn from errors, and adjust. Failure can draw attention to weaknesses in current strategies and compel business owners to reevaluate their methods. 510 Entrepreneurs can refine their strategy and increase their chances of success in subsequent ventures by analyzing what went wrong. Entrepreneurs can take more measured and wiser risks in the future by learning from their past mistakes. Resilience and adaptability, essential traits for navigating the dynamic corporate environment, can be fostered through failure. 511 Success, on the other hand, gives confidence for upcoming undertakings and demonstrates the effectiveness of existing tactics. A positive feedback loop can be created by success, attracting talent, resources, and opportunities for further development. Entrepreneurs can be motivated to push the boundaries of their expertise and investigate new possibilities by successful initiatives. Many successful businesspeople have experienced significant setbacks before achieving their objectives. 512 * Entrepreneurs ought to possess an unwavering work ethic. There are many highs and lows on the entrepreneurial path. Having a strong work ethic gives you the resilience you need to overcome setbacks and failures. 513 Unless, like Musk, that's what fascinates us, an entrepreneur should put in 100 hours a week at work. To complete tasks on time, however, we simply need to be focused and determined. To put it briefly, it's about establishing clear priorities and putting ideas into action that will advance our business. Elon Musk, the CEO of SpaceX and Tesla, has an unachievable work ethic. 514 He has been working nonstop for the last 15 years, putting in 100 hours a week. Musk uses the timeblocking method to schedule his day in five-minute increments, which he calls "time blocks." A specific task or activity is allocated to each time block. Musk may utilize the time-blocking strategy, for instance, when he answers overdue emails, eats meals, or sets aside time for business meetings. Musk says, "There are many easier places to work, but no one ever changed the world working 40 hours a week." Entrepreneurs need to have a strong work ethic that won't let them down. It's a basic skill you need to do well in the harsh world of business. To establish a business, you need a strong work ethic, which means being dedicated, resilient, and committed to doing your best. This will help you address the challenges and capitalize on the opportunities that come your way. A strong work ethic provides the drive and determination necessary to navigate challenging times and achieve your company's goals. It is what keeps entrepreneurs going, even when things go wrong. A strong work ethic encourages individuals to strive for continuous learning and improvement. People who 510 https://www.rrstar.com/story/opinion/columns/guest/2016/02 /27/my-view-failure-success-two/32466898007/, 511 https://primeinsights.in/why-failure-is-the-pathway-tosuccess/#, 512 https://aligntoday.com/blog/success-and-failing#, 513 https://www.linkedin.com/pulse/importance-strong-workethic-entrepreneurship-every-day-hussain-cz0te/, 514 Wattles, Jackie (December 8, 2020). "SpaceX gets almost $900 million in federal subsidies to deliver broadband to rural America". CNN. Archived from the original on December 18, 2020, accessed on 13 Jul 2025 Norwegian Journal of development of the International Science No 167/2025 157 think this way are continually seeking ways to enhance their business and develop their talents. Ultimately, a strong work ethic is one of the most crucial qualities for an entrepreneur to possess. It boosts productivity, fosters a good reputation, and encourages an attitude of continuous learning and improvement. However, it's also crucial to strike a good balance between work and life and to prioritize your well-being over your goals. 515 * An entrepreneur always welcomes learning. Learning, as we all know, is an ongoing process that gets better with time. Learning aids in improving ourselves, which is something we should strive for every day. No one should ever stop learning, according to even Bill Gates. It will be the end of his world if he stops. He added that he wants to keep learning new things. 516 Knowledge and learning are something that never end; they continue with you in every phase of your life –the learning process improves your thoughts and personality. 517 The way every mistake teaches you something is the same way learning improves your vision and mission in life. A startup business is like a game, where you have to be on top by being aware of your industry’s latest happenings and trends. At the same time, you must constantly add new skills to your arsenal and use them to better your startup. His conventional wisdom for entrepreneurs to say "no" to opportunities can be counterproductive in the early stages. Embracing "yes" can lead to discovering your strengths, finding valuable collaborators, and identifying your business niche, ultimately earning you the privilege to say "no" later. 518 Because it signifies that their request has been heard and will eventually be approved, people appreciate hearing "yes." However, for the same reason, some people are reluctant to give an affirmative response right away. By answering "yes," you are committing to keeping your end of the bargain. "Yes" can start to feel more like a hassle than a cash reward when you're already feeling overburdened trying to do everything that needs to be done in a day. 519 When you're already working on a lot of projects and feel like you've done too much, saying "no" might be a tempting way to avoid further work. The way they think sets CEOs apart from one another. Most CEOs use "no" as a way to conserve their time, allowing them to focus on more important things. A savvy CEO utilizes "yes" as part of their business strategy to foster new opportunities for their startup to grow. 520 * The majority of prosperous businesspeople typically engage in odd pastimes because it helps them stay 515 https://www.quora.com/What-is-the-perfect-work-ethicfor-an-entrepreneur, 516 https://believe.evancarmichael.com/homepage, accessed on 13 Jul 2025 517 https://www.marsdd.com/our-story/entrepreneurshipskill-can-taught-can-learned/, 518 https://www.entrepreneur.com/living/the-6-questions-iask-before-i-say-yes-to-anything/309695, 519 https://startupnation.com/grow-your-business/attitudesmart-ceos-say-yes/, 520 https://lassonde.utah.edu/yes-entrepreneurship-can-belearned-heres-how/, 521 https://www.wired.com/2008/02/marissa-mayer-r/, accessed on 13 Jul 2025 focused. Marissa Mayer, a businesswoman and former Yahoo CEO, claims that her hobbies improve her performance at work. They help me create fresh, original perspectives. Mayer's obsession with cake is the one thing that could worry us. The San Francisco Mag reports that Mayer "made a spreadsheet for the ingredients, tested the recipes before writing her own, and bought a variety of cookbooks to study the cupcake recipes in each." 521 Being an extrovert is beneficial when you are an entrepreneur. Getting other people enthused about our ideas is a significant part of our work; therefore, it's assumed that extroverts will excel at that aspect of the job. Both extroverts and introverts can succeed in entrepreneurship, which often requires a range of tasks, from networking to intense product development. Building a team that complements your abilities and utilizing your talents are ultimately the keys to success. 522 Some business owners, such as Sundar Pichai, the CEO of Google, prefer to spend their weekends with their families. Some business owners, on the other hand, like to read books in their free time. It's not just about relaxing in their leisure time; it's also about what they want to do or activities that will help them relax and quiet down. So, the bottom line is that hobbies will make people better at work, and they will also aid in strengthening their decision-making skills in no time. Business owners need to know what they're doing. This entails having a thorough understanding of their company, industry, and business. They need to value learning and improvement as entrepreneurs for the rest of their lives, and then they need to take action. They need to be sure of what they know and how they can use it in their market and specialty. They also need to be confident. They need to be organized, which will help them feel better about themselves. This means they need to have a clear vision, plan, and goals for their firm and keep track of all the details. 523 * To start, expand, and ensure the survival of a business, entrepreneurs must practice good communication both inside their company and with outside partners and investors. An entrepreneur requires a communication system that connects their company's employees as well as the company to other businesses and customers. Perhaps the most crucial action of a transformative leader is sharing a vision with their followers. 524 Intense visions inspire dedication and give workers a feeling of direction. Both written and face-to-face communication are required to convey the vision, according to Kouzes and Posner, as well as Baum et al. 525 522 https://www.quora.com/Do-I-need-to-be-an-extrovert-inorder-to-be-a-good-entrepreneur, accessed on 13 Jul 2025 523 https://beatechelette.com/in-business-is-it-better-to-bean-extrovert-or-introvert/, 524 Hackman, M.Z.; Johnson, C.E. (2009). Leadership: A communication perspective (5th ed.). Long Grove, IL: Waveland, accessed on 13 Jul 2025 525 Baum, Robert J.; Locke, Edwin A.; Kirkpatrick, Shelley A. (1998). "A longitudinal study of the relation of vision and vision communication to venture growth in entrepreneurial firms". Journal of Applied Psychology. 83 (1): 43– 54. doi:10.1037/0021-9010.83.1.43, accessed on 13 Jul 2025 158 Norwegian Journal of development of the International Science No 167/2025 Entrepreneurial leaders must speak and listen to articulate their vision to others. 526 Entrepreneurs need to be able to talk to people well. When explaining a project, giving an elevator pitch, delivering a presentation, conducting training, or interacting with individuals in person, effective communication skills are crucial. For every minute he spoke, Winston Churchill practiced for an hour. It's not enough to just put together the "perfect words" and memorize them like a robot. It's all about how well and confidently you get your point over in real time. You don't have to learn how to talk quickly to convey your point clearly and concisely. But you do need to understand how to get to the point swiftly. In fact, body language makes up 93% of all communication between people. The number that people often mention isn't a rule, and it's not even quoted correctly. Two studies indicate that 93% of communication is non-verbal, and that body language accounts for 55% of all communication. 527 Again, these are two different things. 528 Hearing is a passive ability. Listening shouldn’t be passive. It should be active. * Since it allows leaders to persuade possible partners, investors, and employees of a venture's viability, communication is essential to the role of entrepreneurship. Effective communication with shareholders is essential for entrepreneurs. Information shared between two or more parties for an organization's purposes, functions, objectives, or business operations is referred to as business communication. Business communication is an organizational aspect and can take two forms: peer-to-peer and internal, or employee-to-superior. Business-to-business and business-to-consumer communication are examples of external communication that takes place outside of a company. 529 According to the Communication Accommodation Theory, people tend to modify or adjust their speech patterns when communicating with others. 530 The Face Negotiation Theory explains how individuals from diverse cultural backgrounds approach conflict resolution to maintain their dignity. 531 When creating a new product or service, entrepreneurs might employ Hugh Rank's "intensify and downplay" messaging technique. Rank contends that in order to convince others to support their business, entrepreneurs must be able to emphasize the benefits of their new product or service while downplaying its drawbacks. 532 Effective communication is essential for team performance. Several detrimental effects, such as project delays or failures, increased stress levels, and lost revenue, can result from poor communication. Anybody who wishes to be successful in the 526 Locke, E.A.; Kirkpatrick, S.; Wheeler, J.K; Schneider, J; Niles, K.; Goldstein, H; Welsh, K; Chah, D.O. (1991). The essence of leadership. New York: Lexington Books, accessed on 13 Jul 2025 527 https://www.cavendish.ac/effective-communication-forentrepreneurs/, 528 https://www.britishcouncil.org.bd/en/businesscommunication-skills, 529 https://www.beekeeper.io/blog/internal-communicationtrends/, accessed on 13 Jul 2025 530 Giles, Howard; Edwards, America L.; Walther, Joseph B. (September 2023). "Communication accommodation theory: Past accomplishments, current trends, and future prospects". Language Sciences. 99: corporate world needs to be able to communicate effectively. Success can be greatly impacted by your ability to communicate effectively and convincingly, whether you are speaking with clients, consumers, or coworkers. 533 * Typically, entrepreneurs build teams. By setting a good example and cultivating a great work atmosphere, they inspire and drive their staff. They should be able to delegate in order to build a productive team. Team members typically feel more engaged and appreciated when they are given important tasks and responsibilities. Including team members in the decision-making process might inspire creative solutions that they might not have thought of on their own. 534 However, one of the top mistakes new and experienced managers make is focusing too much on minute details and micromanaging employees. Research shows that micromanagement is one of the main reasons employees resign, leading to increased dissatisfaction, including low morale, high turnover, and decreased productivity. 535 To avoid micromanaging, they usually allow themselves to let go of perfectionism and empower their employees. One of today's greatest businesswomen, Oprah Winfrey, views entrepreneurship as rooted in the conviction that success encompasses not only monetary gain but also personal fulfillment, helping others, and positively impacting the world. * Create a clear vision, make a plan, and modify your tactics as necessary. Entrepreneurs typically foster a culture of trust both inside and outside of their firms and possess an innate strategic vision. They are able to evaluate risks, spot opportunities, and create long-term plans for their company. They possess the capacity to think creatively, generate original concepts, and solve problems in innovative ways. As entrepreneurs, it's crucial to have self-confidence, as it enables us to make informed choices and confidently present new ideas. Their business can prosper and their entrepreneurial talents can develop if they are able to make quick and wise decisions. When making judgments, they should follow their gut instinct while also taking the necessary steps to assess and identify potential dangers. Coworkers may feel more empowered to succeed for both the firm and themselves when they trust one another and feel at ease in their workplace. To succeed as a manager, leader, or employee, one must learn how to establish trust in the workplace. Building trust is when someone makes another person feel at ease enough to rely on 101571. doi:10.1016/j.langsci.2023.101571, accessed on 13 Jul 2025 531 Littlejohn, S., Foss, K. (2011). Theories of Human Communication (10 ed.). Long Grove, IL: Waveland Press. p. 203. ISBN 978-1-57766-706-3, accessed on 13 Jul 2025 532 Rank, H (1976). Teaching about public persuasion. National Council of Teachers of English, accessed on 13 Jul 2025 533 https://www.ucanwest.ca/blog/education-careers-tips/5tips-for-improving-business-communication-skills, 534 https://online.hbs.edu/blog/post/team-decision-making, accessed on 13 Jul 2025 535 https://pubmed.ncbi.nlm.nih.gov/12510608/, accessed on 13 Jul 2025 Norwegian Journal of development of the International Science No 167/2025 159 them. They are inspired to collaborate with them because they have faith in their skills and goals. 536 Keeping their promises is a straightforward way to earn their trust. Be honest with your teammate if you can't accomplish anything because you don't have the time or the skills. This way, you won't promise too much and not deliver. Another strategy to earn trust is to communicate with coworkers in person or via email in a clear and direct manner. Follow the rules of proper email etiquette to make sure their correspondence is professional, clear, and friendly. * According to research by American social psychologist Leon Festinger, a person's self-confidence may only increase or decrease if they are able to evaluate themselves against people who are similar to them in a competitive setting. 537 Social psychologists have found that self-confidence is correlated with other psychological variables, including saving money, influencing others, and being a responsible student. 538 Selfconfidence affects interest, enthusiasm, and self-regulation. Self-confidence is crucial for achieving goals and enhancing performance. 539 Marketing researchers have found that the general self-confidence of a person is negatively correlated with their level of anxiety. Selfconfidence enhances a person's overall well-being and motivation, which in turn often improves performance. 540 In 1943, American psychologist Abraham Maslow argued in his paper "A Theory of Human Motivation" that an individual is only motivated to acquire self-confidence where one component of "esteem" after achieving what they need for physiological survival, safety, and love and belonging. 541 It also increases one's ability to deal with stress and mental health. 542 The more self-confident an individual is, the less likely they are to conform to the judgments of others. 543 Dominic D. P. Johnson and James H. Fowler write that "overconfidence maximizes individual fitness and populations tend to become overconfident, as long as benefits from contested resources are sufficiently large compared with the cost of competition". 544 People prefer 536 https://www.indeed.com/career-advice/careerdevelopment/building-trust, accessed on 13 Jul 2025 537 Festinger, L. (1954). "A theory of social comparison processes". Human Relations. 7 (2): 117– 140. doi:10.1177/001872675400700202, accessed on 13 Jul 2025 538 Gough, Harrison G.; McClosky, Herbert; Meehl, Paul E. (1952). "A personality scale for social responsibility". The Journal of Abnormal and Social Psychology. 47 (1): 73– 80. doi:10.1037/h0062924. ISSN 0096-851X, accessed on 13 Jul 2025 539 Druckman, Daniel; Bjork, Robert A., eds. (1994). Learning, Remembering, Believing: Enhancing Human Performance. Washington, D.C.: National Academies Press. doi:10.17226/2303. ISBN 978-0-309-04993-1, accessed on 11 Jul 2025 540 Compte, O.; Postlewaite, A. (2004). "Confidenceenhanced performance". The American Economic Review. 94 (5): 1536–1557, accessed on 11 Jul 2025 541 Maslow, A. H. (1 July 1943). "A theory of human motivation". Psychological Review. 50 (4): 370– 396. CiteSeerX 10.1.1.334.7586. doi:10.1037/h0054346. IS SN 1939-1471, accessed on 11 Jul 2025 542 Hobfoll, Stevan E. (1988). The Ecology of Stress. Taylor & Francis. ISBN 9780891168454, accessed on 11 Jul 2025 leaders or entrepreneurs with greater self-confidence over those with less self-confidence. 545 * Entrepreneurs must to pay attention to their clients, comprehend their wants, and cultivate enduring bonds with them. Building solid relationships and paying attention to their clients' requirements should be the top priorities for entrepreneurs. This strategy is essential for company success because it increases client loyalty, provides insightful information for new product development, and ultimately drives company growth. Through active listening, business owners may fully comprehend the wants, needs, and problems of their clients. This information is crucial for customizing goods, services, and advertising strategies to better meet their needs. 546 Customers are more likely to form a favorable relationship with a firm when they feel heard and understood. Increased loyalty, recurring business, and favorable word-of-mouth recommendations can result from this. Entrepreneurs can enhance the customer experience by paying attention to consumer feedback and addressing their concerns. Increased client satisfaction, loyalty, and advocacy may result from this. 547 However, for entrepreneurs, cultivating solid client relationships is not merely a "nice-to-have"—it is essential to creating a profitable and long-lasting company. Customers' implied meanings are equally as important as their explicit statements. You can gain a deeper understanding of your customer interactions and the sentiments, effort, emotions, and intents that drive customer relations by utilizing strategies like natural language understanding (NLU). In-depth analysis of customer behavior can help you forecast future behavior more readily and understand not only what they're doing, but why. 548 Listening to customers is a mentality as much as a tactic. Entrepreneurs that adopt this mentality foster a listening culture in their companies. In a market that is ever-evolving, this culture ensures the company remains relevant, fosters innovation, and cultivates trust. Business leaders can realize the full potential of 543 Deutsch, Morton; Gerard, Harold B. (1955). "A study of normative and informational social influences upon individual judgment". The Journal of Abnormal and Social Psychology. 51 (3): 629–636. doi:10.1037/h0046408, accessed on 11 Jul 2025 544 Johnson, Dominic D.P.; Fowler, James H. (14 September 2011). "The evolution of overconfidence", Nature, 477 (7364): 317320, Bibcode:2011Natur.477..317J. doi:10.1038/nature1038 4, accessed on 11 Jul 2025 545 Conger, Jay A.; Kanungo, Rabindra N. (1994). "Charismatic Leadership in Organizations: Perceived Behavioral Attributes and Their Measurement". Journal of Organizational Behavior. 15 (5): 439– 452. doi:10.1002/job.4030150508, accessed on 20 Jul 2025 546 https://www.linkedin.com/advice/0/heres-how-you-cancultivate-sustain-robust-relationships-l6jrc, accessed on 20 Jul 2025 547 https://execsintheknow.com/magazines/april-2024issue/the-power-of-listening-leveraging-customer-feedbackto-drive-brand-success/#, accessed on 20 Jul 2025 548 https://www.qualtrics.com/en-gb/experiencemanagement/customer/customer-relationship-building/#, accessed on 20 Jul 2025 160 Norwegian Journal of development of the International Science No 167/2025 their companies by prioritizing their consumers' opinions. 549 The benefits far outweigh the challenges, and the rewards, including loyal customers, a strong brand, and sustainable growth, are well worth the effort. 550 Ultimately, prioritizing customer relationships and understanding can lead to increased sales, customer retention, and overall business growth. * Entrepreneurs should make well-informed decisions and keep a close eye on their company's finances. To make informed judgments and ensure the long-term viability of their endeavors, entrepreneurs must have a solid understanding of their company's finances. Effective planning, risk management, and strategic growth are made possible by having a solid understanding of budgeting, cash flow, and financial reporting. 551 To obtain important insights and ensure regulatory compliance, entrepreneurs should not be afraid to consult financial professionals, such as accountants or financial consultants. Entrepreneurs can create a solid foundation for their companies and ensure they can withstand setbacks and adapt to shifting market conditions by practicing sound financial management. Entrepreneurs can track the performance of their businesses, pinpoint areas for development, and make data-driven decisions with the help of accurate financial reporting and analysis. 552 A solid financial base enables business owners to recognize and mitigate potential risks, such as market fluctuations, recessions, or unexpected expenses. Entrepreneurs can make informed decisions regarding investments, resource allocation, and business plans when they have a solid understanding of financial concepts. 553 Entrepreneurs can maximize resource utilization, plan their spending, and ensure they have sufficient funds to meet operational demands and capitalize on opportunities by being proficient in budgeting and cash flow management. Financially literate entrepreneurs are better equipped to make informed decisions. They are able to weigh the benefits and dangers and know when to alter their strategies. This ability enables them to reduce debt and improve business operations. 554 Entrepreneurs can make good decisions about investments, resource allocation, and business plans if they have a good grasp of financial fundamentals. Entrepreneurs can address the challenges of running a business, capitalize on opportunities, and establish a solid foundation for long-term success by prioritizing financial literacy and actively managing their firm's finances. 549 https://online.stmarys.ac.uk/blogs/why-financial-literacyis-essential-for-entrepreneurs/, accessed on 20 Jul 2025 550 https://www.linkedin.com/pulse/why-business-ownersshould-listen-customers-rishu-chaitanya-bktpf/, accessed on 20 Jul 2025 551 https://www.linkedin.com/pulse/financial-managemententrepreneurs-key-strategies-success-lone-mosito-o2qff/, accessed on 20 Jul 2025 552 https://www.linkedin.com/pulse/financial-managementtips-entrepreneurs-business-owners-776af/, accessed on 20 Jul 2025 553 https://online.york.ac.uk/resources/how-to-managepersonal-and-business-finances-as-an-entrepreneur/, accessed on 20 Jul 2025 * Entrepreneurs have a positive outlook and persevere through obstacles and failures. A positive outlook and perseverance are essential for overcoming the numerous difficulties and disappointments that entrepreneurs frequently encounter and achieving success. These attributes enable them to stay focused, adapt to change, and persevere in the face of adversity. The steadfast dedication to one's objectives in the face of difficulty is determination. It strengthens the will to overcome obstacles, endure hardships, and maintain focus on long-term goals. Determined businesspeople are more likely to take measured chances, grow from mistakes, and eventually realize their full potential. Positive thinking enables business owners to view difficulties as learning opportunities rather than insurmountable roadblocks. Even in the face of disappointments, it keeps people resilient, driven, and hopeful. Additionally, a positive outlook encourages innovation and problem-solving, which helps business owners generate novel ideas. 555 Entrepreneurs should also embrace continuous learning and adapt their strategies in response to market feedback and evolving circumstances. This adaptability, combined with a positive attitude and determination, enables them to overcome challenges and achieve sustainable success. Building a strong support system of mentors, peers, and advisors is also crucial for entrepreneurs. 556 These individuals can offer guidance, encouragement, and practical advice, helping entrepreneurs navigate challenges and stay on track. 557 Entrepreneurs must cease obsessing over the opinions of others. They must put all of their attention on resolving the issue at hand. If they divert their attention from overcoming the obstacles that lie ahead, they will get preoccupied with what other people think. Every business owner encounters challenges. There aren't many efficient ways to get beyond them. Entrepreneurs must clearly specify the challenge they are facing. To create a focused remedy, they must understand the underlying cause. Big issues may be debilitating. To make them less intimidating, they must divide them into more manageable, smaller jobs. They ask for assistance without hesitation. Speak with classmates, mentors, or advisors who have faced similar challenges. Entrepreneurs must be ready to modify their strategies as needed. When things don't go as planned, their flexibility enables them to adjust their course and come up with innovative ideas. Obstacles may appear more significant than they actually are, if necessary, tasks are put off or delayed. Entrepreneurs should start addressing the issue immediately. 558 554 https://foundersmag.com/financial-management/#, accessed on 20 Jul 2025 555 https://www.quora.com/How-do-you-move-forwardwith-subjects-that-didn-t-meet-your-expectations-likeEnglish-in-your-case, accessed on 20 Jul 2025 556 https://www.robinwaite.com/blog/building-resilience-asan-entrepreneur-how-to-overcome-setbacks-and-staymotivated, accessed on 20 Jul 2025 557 https://www.linkedin.com/advice/3/youre-facingsetbacks-your-entrepreneurial-journey-ag6lc, accessed on 20 Jul 2025 558 https://economicinsider.com/overcoming-challenges-andsetbacks-strategies-for-entrepreneurs/, accessed on 20 Jul 2025 Norwegian Journal of development of the International Science No 167/2025 161 * The capacity to recover from setbacks and keep a positive attitude is resilience. Resilient entrepreneurs are able to adjust to shifting conditions, learn from their mistakes, and persevere when things become tough. Since resilience enables entrepreneurs to use these traits to overcome obstacles, it is intimately related to both optimism and tenacity. 559 Entrepreneurs are the source of their resiliency. People supporting them won't be the source of it because they are frequently unsupportive. They would be shocked at how many people turn out when they're doing well and how quiet they are when they're having trouble. 560 They may effectively manage the highs and lows of business by overcoming challenges, growing resilient, learning from mistakes, and maintaining motivation. It is essential to remember that every obstacle presents an opportunity for growth and development. 561 They must remain optimistic, keep moving forward, and never give up on their goals. Entrepreneurs must be adaptable, resilient, and optimistic in order to confront and manage difficulties and find solutions. One effective strategy that can help them shift their attention from the negative to the positive is gratitude. 562 Unexpected events often lead to challenges, and it's easy to become entangled in negative emotions like irritation, anger, or despair. However, people might expose themselves to new possibilities by deliberately choosing to view the circumstance from a different perspective. 563 For instance, they can consider a failed project as a worthwhile learning opportunity that will guide future efforts rather than as a complete failure. Any path will inevitably include failure, particularly in the commercial realm, as Thomas Edison discovered. 564 Several setbacks accompanied his entrepreneurial success. He famously declared, "I have not failed," indicating that he viewed these setbacks as learning opportunities. I just discovered 10,000 ineffective methods. He eventually produced ground-breaking inventions like the light bulb and the phonograph as a result of his perseverance in the face of adversity and his capacity to learn from mistakes. 565 However, individuals have the option to accept failure 559 https://wadhwanifoundation.org/staying-motivatedduring-tough-times-6-strategies-for-entrepreneurs/, accessed on 20 Jul 2025 560 https://www.quora.com/How-can-I-overcome-challengesand-setbacks-in-my-entrepreneurial-journey, accessed on 20 Jul 2025 561 https://fastercapital.com/topics/overcoming-challengeswith-a-positive-mindset.html, accessed on 20 Jul 2025 562 https://www.womenpreneur-digital.com/blog/building-aresilient-mindset-nurturing-strength-in-entrepreneurs86.html, accessed on 20 Jul 2025 563 https://fastercapital.com/content/Rehabilitation-CenterTestimonial--Startups-and-Rehabilitation-Centers--Storiesof-Resilience-and-Recovery.html, 564 https://vizologi.com/right-attitude-for-entrepreneurialsuccess/, accessed on 20 Jul 2025 565 https://themeaningmovement.com/edisons-secret-tosuccess-and-how-you-can-overcome-the-fear-of-failure/, accessed on 20 Jul 2025 566 https://fastercapital.com/topics/overcoming-challengeswith-a-positive-attitude.html/1, accessed on 20 Jul 2025 567 https://wadhwanifoundation.org/staying-motivatedduring-tough-times-6-strategies-for-entrepreneurs/, accessed on 20 Jul 2025 as a necessary step on the path to success rather than allowing it to define them. Business challenges can frequently be emotionally and mentally taxing. Prioritizing self-care during these times is crucial for maintaining a positive outlook. 566 Stress levels can be lowered and mental and emotional energy can be restored by engaging in well-being-promoting activities such as exercise, meditation, nature walks, or hobbies. 567 People who have a good attitude are more likely to meet others who are eager to support them through tough circumstances. 568 They can learn a lot from mentors, coworkers, or even online communities by building positive relationships and asking for help. This can help them see things in a new way and find possible answers. 569 8. Development of New Entrepreneurs for Success in their Venture/Business in 21st Century Entrepreneurship embodies an individual’s willingness to take risks, encompassing various costs— from time investment to the challenge of devising effective and efficient business strategies. Such strategies must navigate social, intuitive, and financial risks, offering personal fulfillment alongside potential financial rewards if the newly implemented approach proves successful. 570 Both innovation and entrepreneurship do not merely involve having a brilliant idea in one’s mind; they require dedicated effort to transform that idea into action. The idea must be thoroughly discussed and its feasibility carefully evaluated. In this process, teamwork plays a crucial role, as it helps assess the idea’s validity more effectively and refine it into a practical form, minimizing potential financial losses. 571 During the discussion of an idea, various weaknesses in its structure often emerge, which must be addressed and eliminated to prevent potential losses. 572 Accomplishing this requires a specific mindset and behavior, which defines an individual as a risk-taker—someone with the courage to navigate and influence social and economic structures to create an environment where their ideas can be transformed into action. 573 Additionally, he must be fully aware of all potential risks and possess the 568 https://link.springer.com/chapter/10.1007/978-3-03171064-3_10, accessed on 20 Jul 2025 569 https://www.linkedin.com/pulse/resilience-determinationentrepreneurs-dr-pravin-dattatraya-badhe/, accessed on 20 Jul 2025 570 Beatty, Jack (1998). The World According to Peter Drucker. The Free Press. ISBN 978-0-684-83801-4, accessed on 19 Aug 2025 571 Kelly, P.; Kranzburg M. (1978). Technological Innovation: A Critical Review of Current Knowledge. San Francisco: San Francisco Press, accessed on 01 Oct 2025 572 Abadzhiev, Andrey; Sukhov, Alexandre; Johnson, Mikael (2024-06-18). "Business model innovation for reducing uncertainty in sustainability transitions: A case study of the wood construction industry". Creativity and Innovation Management. 33 (4): 818– 838. doi:10.1111/caim.12622. ISSN 0963-1690, accessed on 19 Aug 2025 573 Trott, Paul (2005). Innovation Management and New Product Development. Prentice Hall. ISBN 0273686437, accessed on 01 Oct 2025 168 Norwegian Journal of development of the International Science No 167/2025 greatly supported by entrepreneurial communities, which identify and establish profitable ventures that raise per capita income and improve the overall quality of life. By creating enterprises, entrepreneurs generate employment opportunities and contributing to poverty alleviation as income levels rise. China is a good example of entrepreneurship driving national development. Despite initial challenges in meeting international standards, Chinese firms have increasingly aligned with global norms, enhancing their credibility and access to international markets. The government has supported this growth through policies, infrastructure development, and financial incentives, fostering an environment conducive to innovation and expansion. Figure 10: Entrepreneurs contribution to sustainability global development in 21st century. 628 In 21st century, for success new entrepreneurs need to prioritize understanding and serving their customers over focusing on investors. They need to be open to new opportunities and willing to pivot their approach when and where needed. Today, thinking negatively can be detrimental for an entrepreneur; not because problems should be ignored, but because the focus should be on finding solutions rather than fixating on obstacles. It is easy to look at someone like Richard Branson and assume success came effortlessly. In reality, even the most accomplished entrepreneurs face setbacks and failures. Regardless of the company he starts or the profits he earns, there will be moments when things appear bleak. Optimism is the key to overcoming these challenges. Successful entrepreneurs are recognized for their unwavering optimism, which guides them through both lows and highs. 629 This does not mean they are happy all the time, but they refuse to let circumstances dictate their long-term goals. Great leaders also understand that mental exhaustion and overwork are a recipe for disaster. No matter how skilled he is, without proper wellness, he cannot execute effectively on his capabilities. Allocating time for self-care yields significant returns, and the same principle applies to employees. Encouraging his team to rest when needed ensures sustained performance and a healthier work environment. 630 They will reward him with a positive mindset and a stronger work ethic. Risk-takers often excel as business leaders, but it is essential to have a clear approach and a backup plan in case things go wrong. By strategizing carefully and setting measura628 https://bamboi.eu/blogs/blog/entrepreneurship-with-apurpose-contributing-to-the-sustainable-development-goals, accessed on 29 Sep 2025 629 Swider, B. W., Harris, T. B., & Gong, Q. (2022). First impression effects in organizational psychology. Journal of Applied Psychology, 107(3), 346–369, accessed on 02 Oct 2025 630 https://brainly.com/question/49057165, accessed on 01 Oct 2025 ble goals, he can make quick adjustments and find effective solutions. Test his product or service with a trusted group, review market research to ensure sufficient demand, and stay informed on industry trends. 631 These steps help him take calculated risks while pursuing new opportunities. 8. Conclusion New entrepreneurs need to view mistakes as opportunities to learn and grow, rather than as endpoints. They have passion for their work and their vision for a better world be their primary motivation, not just financial gain. In 21st century successful entrepreneurs rely on honesty, capability, judgment, and skill. Lord Alan Sugar states, “There is no such thing as entrepreneurial juice that he can buy from Boots. He is either born with entrepreneurial gifts or not.” Similarly, Gary Vaynerchuk believes that “hustle and drive to succeed are innate qualities; they cannot be taught.” In contrast, thinkers like Robert Greene, Tom Bilyeu, Duncan Bannatyne, and Peter Drucker argue that successful entrepreneurs can be made through learning and experience. However, a few highly successful entrepreneurs seem to fall somewhere in between these perspectives. 632 When asked whether entrepreneurs are born or made, Richard Branson stated that everyone is born with entrepreneurial potential, but only a few takes action to realize it. Theo Paphitis, from the BBC business program Dragons’ Den, describes different “levels of entrepreneurs,” suggesting that one’s level depends on how far they aim to go. He implies that some entrepreneurs are born while others are made. Patrick Bet-David adds another perspective, noting that anyone can be 631 Wayne, S. J., Sun, J., Kluemper, D. H., Cheung, G. W., & Ubaka, A. (2023). The cost of managing impressions for Black employees: An expectancy violation theory perspective. Journal of Applied Psychology, 108(2), 208–224, accessed on 03 Oct 2025 632 https://ceoentrepreneur.com/are-successful-entrepreneurs-born-or-made/, accessed on 03 Oct 2025 Norwegian Journal of development of the International Science No 167/2025 169 a “meh” entrepreneur—neither exceptional nor terrible, just average. However, he argues that to become truly outstanding, an entrepreneur must have been born with that innate drive. 633 By understanding entrepreneurship and the key characteristics of successful entrepreneurs, aspiring entrepreneurs can develop the skills and mindset needed to improve their chances of success. While some argue that entrepreneurial talent is innate, research indicates that many essential traits can be learned and refined. 634 By grasping the core components of entrepreneurial success, individuals can pursue personal growth and development, cultivating the qualities and characteristics necessary to become a successful entrepreneur. In 21st century entrepreneurship is one of the most critical drivers of a country’s economic growth and development. According to Harbison, entrepreneurs are the primary catalysts of innovation. While entrepreneurship carries significant risks—such as startup failures, funding shortages, poor sales decisions, or insufficient market demand—it remains a key mechanism for progress and growth. This inherent risk places entrepreneurship beyond the comfort zone, requiring resilience and strategic thinking. Economic growth, measured as a sustained increase in real income, is greatly supported by entrepreneurial communities, which identify and establish profitable ventures that raise per capita income and improve the overall quality of life. By creating enterprises, entrepreneurs generate employment opportunities both directly and indirectly, contributing to poverty alleviation as income levels rise. A clear example of entrepreneurship driving national development can be seen in China. Despite initial challenges in meeting international standards, Chinese firms have increasingly aligned with global norms, enhancing their credibility and access to international markets. The government has supported this growth through policies, infrastructure development, and financial incentives, fostering an environment conducive to innovation and expansion. The combination of entrepreneurial leadership, strategic market expansion, technological innovation, and government support has propelled Chinese firms to become major global players. This model of entrepreneurial development offers a valuable blueprint for other developing countries, such as Bangladesh, Pakistan, and India, to stimulate economic growth and create sustainable business ecosystems. In 21st century for success new entrepreneurs need to work reliably and consistently on creating value and developing innovative solutions. They make clear agreements with co-founders and others as well as understand that the right partner can be more important than anything else. Again, extensive study and personal investigation have been undertaken, examining the perspectives of highly successful global entrepreneurs on the nature versus nurture controversy. Furthermore, this debate has been examined and substantiated through pragmatic research, delving into the principal attributes 633 https://timespro.com/blog/what-are-the-top-characteristics-of-an-entrepreneur, accessed on 03 Oct 2025 634 Wheatley, T., Thornton, M. A., Stolk, A., & Chang, L. J. (2024). The emerging science of interacting minds. that define prosperous entrepreneurs in this modern era. Deeper exploration into this subject revealed compelling studies investigating the innate or cultivated origins of entrepreneurial achievement. One finding indicates that such individuals are, in fact, born. A more intriguing revelation, however, is that successful entrepreneurs are also made. A particularly concerning truth is that the conventional education system frequently operates in opposition to entrepreneurial values. From a young age, instruction emphasizes high performance and the acquisition of accolades. Risk-taking, perseverance, bravery, and nonconformity are fundamental to entrepreneurship, as achievement is unattainable without venture and daring. Nonetheless, youth raised in entrepreneurial environments exhibit a significantly higher propensity to become entrepreneurs themselves, primarily because they are not conditioned to avoid risk. Consequently, those born into such circumstances are typically successful. They benefit from quality guidance, instruction, and a supportive environment, and their inherent comprehension of business operations leads to their predictable success and economic development. Successful entrepreneurs consistently uphold high ethical standards in all business dealings and workplace interactions. They possess the confidence to make difficult decisions and follow through, exercising sound judgment even under pressure. Typically, successful entrepreneurs combine intrinsic traits with developed skills, including passion, creativity, adaptability, resilience, and strong leadership. They demonstrate a willingness to take calculated risks, persist in the face of challenges, and maintain a strong work ethic. Effective communication, networking abilities, and a customerfocused mindset are essential, as entrepreneurs understand and prioritize the needs of their customers. They manage finances efficiently, interpret financial statements clearly, and build professional relationships to create opportunities and support growth. By taking calculated risks and tackling challenges, entrepreneurs show strong commitment to their goals. Innovation is another hallmark of success, with creative ideas and solutions allowing them to stand out in competitive markets. In addition to risk management and strategic decision-making, entrepreneurship requires comfort with failure, the ability to prioritize tasks, and efficient time management. In conclusion, the majority of research indicates that accomplished entrepreneurs are developed. The pinnacle of entrepreneurial success is most often reached by those who experience failure and persist. These individuals actively pursue mentors, acquire training, learn from their environment, and possess the resolve to persevere, engaging directly with challenges and risks. As global development in the era of technological advancement, so successful entrepreneurs are the assets for national and global economic development and growth. Perspectives on Psychological Science, 19(2), 355–373, accessed on 03 Oct 2025 170 Norwegian Journal of development of the International Science No 167/2025 References: 1. Trần Văn Giàu. (1987). The Spiritual Values of Vietnam’s Traditional Culture. Hanoi: Social Sciences Publishing House, p. 142. 2. Phan Huy Lê & Vũ Minh Giang (Eds.). (1994). Traditional Values and the Vietnamese People in the Contemporary Era. National-Level Science and Technology Program KX.07, Project KX07-02, Vol. I. Hanoi. 3. Communist Party of Vietnam (CPV). (1998). Documents of the Fifth Plenum of the Eighth Central Committee. Hanoi: National Political Publishing House, p. 23. 4. Thornberg, R., & Oguz, E. (2013). Teacher view’s on values education: A qualitative study in Sweden and Turkey. International Journal of Educational Re-search, 59, 49-56. https://doi.org/10.1016/j.ijer.2013.03.005 5. Nguyễn Quang Uẩn, Nguyễn Thạc, & Mạc Văn Trang. (1995). Values – Value Orientation and Value Education. National-Level Scientific Project, Code: KX.07-04. 6. See: https://giaoducthoidai.vn/gs-pham-minhhac-sua-doi-luat-giao-duc-dh-nen-quan-tam-den-tuchu-va-quan-tri-post281453.html 7. See: https://unesdoc.unesco.org/ark:/48223/pf0000381972 8. See:https://dangcongsan.org.vn/bocongthuon g/tin-tuc-hoat-dong/thuc-trang-hoc-tap-truc-tuyen-cacmon-ly-luan-chinh-tri-nghien-cuu-voi-truong-hopsinh-vien-dai-hoc-bach-khoa-ha-noi.html 9. See: https://www.britishcouncil.vn/sites/default/files/nghie n-cuu-the-he-tre-viet-nam.pdf 10. Nguyen Phu Trong: Building and developing an advanced Vietnamese culture imbued with national identity, National Political Publishing House Truth, Hanoi, 2024, p.20. 11. See: https://lyluanchinhtri.vn/phat-huy-vaitro-cua-van-hoa-truyen-thong-viet-nam-trong-kynguyen-phat-trien-moi-6922.html 12. Communist Party of Vietnam (CPV). (2021). Documents of the 13th National Congress of the Communist Party of Vietnam. Vol. 1. Hanoi: Truth National Political Publishing House, p. 143. 13. Soumitra Dutta, Bruno Lanvin, Lorena Rivera Le-ón, Sacha Wunsch-Vincent, Global Innovation Index 2022 What is the future of innovation-driven growth? (15th Edition, First published 2022, WIPO, 2022) 14. Andreas Bielig, Intellectual property and economic development in Germany: empirical evidence for 1999–2009 ( First edition Eur J Law Econ 2015) 609 15. Abbott Frederick M. International intellectual property in an integrated world economy (Fourth edition , 2019) 182 16. Imanov Kamran Innovative development and intel-lectual property. (First edition 2022, Intellectual Property Agency of the Republic of Azerbaijan, Baku) 56 17. WIPO IP Statistics Data Center < https://www3.wipo.int/ipstats/keysearch/indicator?tab=patent > last access 23 September 2024 18. Andrew A. Toole, Richard D. Miller, Nicholas Rada, Intellectual property and the U.S. economy: Third edition < uspto-ip-us-economy-third-edition > last access 23 September 2024 19. “Azerbaijan 2030: National Priorities for Socio-Economic Development” Order of the President of the Republic of Azerbaijan 2021 20. Azerbaijan ranking in the Global Innovation Index 2023 < chrome-exten-sion://efaidnbmnnnibpcajpcglclefindmkaj/https://www. wipo.int/edocs/pubdocs/en/wipo-pub-20002023/az.pdf > accesed 23 September 2024 21. Rohazar Wati Zuallcobley, Study on Specialized Intellectual Property Courts, International Intellec-tual Property Institute, 25 January 2012 https://www.yumpu.com/en/document/read/29991735/ assoc-prof-rohazar-wati-zuallcobley-internationalintellectual last accessed 23 September 2024 22. https://link.springer.com/article/10.1007/s113 01-020-00193-7, accessed on 12 Sep 2025 23. https://www.amazon.com/Howards-GiftUncommon-Wisdom-Inspire/dp/1250004241/, accessed on 12 Sep 2025 24. https://www.amazon.com/Howards-GiftUncommon-Wisdom-Inspire/dp/1250004241/, accessed on 25 Sep 2025 25. https://hbr.org/2013/01/what-isentrepreneurship, accessed on 12 Jul 2025 26. https://online.stanford.edu/what-isentrepreneurship, ac-cessed on 12 Jul 2025 27. Shionoya, Yuichi (2007). Schumpeter and the Idea of So-cial Science: A Metatheoretical Study. Cambridge University Press. p. 14. ISBN 9780521037969, accessed on 12 Jul 2025 28. Reisman, David A. (2004). Schumpeter's Market: Enter-prise and Evolution. Cheltenham: Edward Elgar Publishing. p. 4. ISBN 978-1845420857, accessed on 12 Jul 2025 29. https://ageconsearch.umn.edu/record/49270/? ln=en#:~:text=Economic%20growth%20may%20have%20a,a%20larger%20 number%20of%20people, accessed on 12 Jul 2025 30. “Entrepreneurship: A Survey of the Literature,” Da-vid Audretsch, European Commission, 2003, accessed on 12 Jul 2025 31. Albulescu CT, Draghici A (2016) Entrepreneurial activity and national innovative capacity in selected European coun-tries. Int J Entrep Innov 17:155–172, available at: https://doi.org/10.1177/1465750316655902, accessed on 25 Sep 2025 32. Acs ZJ, Audretsch DB, Lehmann EE (2013) The knowledge spillover theory of entrepreneurship. Norwegian Journal of development of the International Science No 167/2025 171 Small Bus Econ 41:757–774, available at: https://doi.org/10.1007/s11187-013-9505-9, accessed on 25 Sep 2025 33. https://hbr.org/2013/01/what-isentrepreneurship, accessed on 25 Sep 2025 34. Spengler, J. J. (1959), ‘Adam Smith’s theory of economic growth Part II’. Southern Economic Journal 26, 1–12. 35. Hughes, J. (1986), The Vital Few: The Entrepreneur and American Economic Progress. Oxford: Oxford University Press 36. Katz, J. A. (2003), ‘A chronology and intellectual trajectory of American entrepreneurship education: 1876–1999’. Journal of Business Venturing 18, 283–300, accessed on 12 Jul 2025 37. https://www.igiglobal.com/dictionary/gender-and-entrepreneurshipin-developing-economies/72294, accessed on 12 Jul 2025 38. https://ceoentrepreneur.com/are-successfulentrepreneurs-born-or-made/, accessed on 14 Jul 2025 39. Ruangkrit, S. and Thechatakerng, P. (2015). Characteristics of Community Entrepreneurs in Chiangmai. Thailand. World Journal of Management. 6(1): 58 – 74, accessed on 23 Aug 2025 40. https://quasa.io/media/34-characteristics-ofsuccessful-entrepreneurs, accessed on 23 Aug 2025 41. Zhao, H., Seibert, S. E., & Hills, G. E. (2005). The mediat-ing role of self-efficacy in the development of entrepreneurial intentions. Journal of Applied Psychology, 90(6), 1265–1272, accessed on 23 Aug 2025 42. https://www.businesspartners.co.za/the-fourmost-common-traits-of-successful-entrepreneurs-withexamples/, accessed on 23 Aug 2025 43. Atems B, Shand G (2018) An empirical analysis of the relationship between entrepreneurship and income inequality. Small Bus Econ 51:905–922. https://doi.org/10.1007/s11187-017-9984-1, accessed on 25 Sep 2025 44. https://www.nber.org/books-andchapters/role-innovation-and-entrepreneurshipeconomic-growth, accessed on 12 Sep 2025 45. Alvarez SA, Barney JB (2014) Entrepreneurial opportuni-ties and poverty alleviation. Entrep Theory Pract 38:159–184, available at: https://doi.org/10.1111/etap.12078, accessed on 25 Sep 2025 46. Andersson M, Noseleit F (2011) Start-ups and employment dynamics within and across sectors. Small Bus Econ 36:461–483. https://doi.org/10.1007/s11187009-9252-0, accessed on 25 Sep 2025 47. Acs ZJ, Varga A (2005) Entrepreneurship, agglomeration and technological change. Small Bus Econ 24:323–334, avail-able at: https://doi.org/10.1007/s11187-005-1998-4, accessed on 25 Sep 2025 48. Acs ZJ, Armington C (2004) Employment growth and entrepreneurial activity in cities. Reg Stud 38:911–927, avail-able at: https://doi.org/10.1080/0034340042000280938, accessed on 25 Sep 2025 49. Thomke, S. H. (2020). Experimentation works: The sur-prising power of business experiments. Harvard Business Press 50. https://www.nu.edu/blog/skills-needed-to-bean-entrepreneur/, accessed on 23 Aug 2025 51. Zuzul, T., & Edmondson, A. C. (2017). The advocacy trap: When legitimacy building inhibits organizational learning. Academy of Management Discoveries, 3(3), 302–321, ac-cessed on 23 Aug 2025 52. Zott, C., & Huy, Q. N. (2007). How entrepreneurs use symbolic management to acquire resources. Administrative Science Quarterly, 52(1), 70–105, accessed on 23 Aug 2025 53. Carrie, M., Van Stel, A., Thurik, R., & Wennekers, S. (2002). Economic development and business ownership: an analysis using data of 23 OEDC countries in the period 1976-1996. Small Business Economics. 19(3): 271-290, accessed on 23 Aug 2025 54. https://www.quora.com/What-are-somequalities-of-a-great-business-owner-manager-Whatmakes-them-successful-and-what-can-we-learn-fromthem-to-be-more-successful-ourselves, accessed on 23 Aug 2025 55. https://eimrglobal.org/traditionalentrepreneurship-vs-modern-entrepreneurship/, accessed on 25 Sep 2025 56. https://www.bls.gov/bdm/us_age_naics_00_t able7.txt, accessed on 25 Sep 2025 57. Watson, John B. (1913). "Psychology as the Behaviorist Views It". Psychological Review. 20 (2): 158–177. doi:10.1037/h0074428. hdl:21.11116/00000001-9182-7. S2CID 145372026, accessed on 08 Aug 2025 58. Skinner, B. F. (1972). Beyond Freedom and Digni-ty. Vintage Books. ISBN 978-0-553-14372-0. OCLC 34263003, accessed on 13 Sep 2025 59. Bandura, A. (2006). "Toward a Psychology of Human Agency". Perspectives on Psychological Science. 1 (2): 164–80. doi:10.1111/j.1745-6916.2006. 00011.x. PMID 26151469, accessed on 08 Aug 2025 60. Nicholls-Nixon, C., & L., Cooper, A. C., & Woo, C. Y. (2000). Strategic experimentation: Understanding change and performance in new ventures. Journal of Business Venturing, 15(5), 493– 521. https:// doi. org/ 10. 1016/S08839026(98) 000184, accessed on 08 Aug 2025 61. https://ideas.repec.org/top/top.country.downl oads.html, accessed on 08 Aug 2025 62. Shane, S., & Venkataraman, S. (2010). The promise of entrepreneurship as a field of research. The Academy of Management Review, 25(1), 217–226, accessed on 08 Aug 2025 63. Boyd and Solarino, 2016 B.K. Boyd, A.M. Solarino Own-ership of corporations: A review, synthesis, and research agenda Journal of Management, 172 Norwegian Journal of development of the International Science No 167/2025 42 (2016), pp. 1282-1314, 10.1177/0149206316633746, accessed on 27 Sep 2025 64. Carlborg et al., 2014 P. Carlborg, D. Kindström, C. Kowalkowski The evolution of service innovation research: A critical review and synthesis The Service Industries Journal, 34 (5) (2014), pp. 373398, 10.1080/02642069.2013.780044, accessed on 27 Sep 2025 65. Covington, 2000 M.V. Covington Goal theory, motivation, and school achievement: An integrative review Annual Re-view of Psychology, 51 (2000), pp. 171-200, 10.1146/annurev.psych.51.1.171, accessed on 27 Sep 2025 66. Drucker, P. F. (1985). Innovation and Entrepreneurship. Harper & Row, accessed on 27 Sep 2025 67. Gladwell, M. (2008). Outliers: The Story of Success. Little, Brown and Company, accessed on 27 Sep 2025 68. Sarasvathy, S. D. (2001). Effectuation: Toward a theory of entrepreneurial expertise. The Academy of Management Re-view, 26(2), 243–263, accessed on 27 Sep 2025 69. Wilkinson, A. (2015). The Creator's Code: The Six Essen-tial Skills of Extraordinary Entrepreneurs. Simon & Schuster, accessed on 27 Sep 2025 70. Kotler, S. (2021). The Art of Impossible: A Peak Perfor-mance Primer. Harper Wave, accessed on 27 Sep 2025 71. https://www.rethinkingentrepreneurship.com/ entrepreneurship-annotated-bibliogr/three-waves-ofresearch-on-historical-entrepreneurship, accessed on 10 June 2025 72. https://www.researchgate.net/publication/397 31185_A_Conceptual_History_of_Entrepreneurial_Th ought#, 73. https://www.sbs.strath.ac.uk/newsletter/202211/09.asp#, accessed on 12 Sep 2025 74. Cole, A. H. (1946), ‘An approach to the study of entrepre-neurship: A tribute to Edwin F. Gay’. Journal of Economic History 6, 1–15, accessed on 10 June 2025 75. Gay, E. F. (1923–1924), ‘The rhythm of history’. Harvard Graduates’ Magazine 32, 1–16, accessed on 10 June 2025 76. Shackle, G. L. S. (1966), The Nature of Economic Thought. Cambridge: Cambridge University Press 77. Ibid 78. Ibid 79. Schultz, T. W. (1980), ‘Investment in entrepreneurial abil-ity’. Scandinavian Journal of Economics 82, 437–448, ac-cessed on 10 June 2025 80. Schultz, T. W. (1975), ‘The value of the ability to deal with disequilibria’. Journal of Economic Literature 13, 827–846, accessed on 10 June 2025 81. Ibid 82. Hughes, J. (1986), The Vital Few: The Entrepreneur and American Economic Progress. Oxford: Oxford University Press 83. von Mises, L. (1949), Human Action: A Treatise on Eco-nomics. New Haven, CT: Yale University Press 84. Kirzner, I. M. (1979b), Perception, Opportunity, and Profit: Studies in the Theory of Entrepreneurship. Chicago: Univer-sity of Chicago Press 85. Schultz, T. W. (1980), ‘Investment in entrepreneurial abil-ity’. Scandinavian Journal of Economics 82, 437–448, ac-cessed on 10 June 2025 86. Kirzner, I. M. (1973), Competition & Entrepreneurship. Chicago: University of Chicago Press 87. Kirzner, I. M. (1985), Discovery and the Capitalist Pro-cess. Chicago: University of Chicago Press 88. Leibenstein, H. (1979b), ‘The general Xefficiency para-digm and the role of the entrepreneur’. In Time, Uncertainty and Disequilibrium, Rizzo, M. (ed.). Lexington, MA: D. C. Heath, accessed on 10 June 2025 89. Kirzner, I. M. (1979a), ‘Comment: Xinefficiency, error, and the scope for entrepreneurship’. In Time, Uncertainty and Disequilibrium, Rizzo, M. (ed.). Lexington, MA: D. C. Heath, accessed on 10 June 2025 90. Coase, R. H. (1937), ‘The nature of the firm’. Economica N.S. 4, 386 405, accessed on 10 June 2025 91. Arrow, K. J. (1974), The Limits of Organization. New York: W. W. Norton 92. Williamson, O. E. (1975), Markets and Hierarchies. New York: The Free Press 93. Williamson, O. E. (1985), The Economic Institutions of Capitalism. New York: The Free Press 94. Malmgren, H. B. (1961), ‘Information, expectations and the theory of the firm’. Quarterly Journal of Economics 75, 399–421, accessed on 10 June 2025 95. Knight, F. H. (1921), Risk, Uncertainty and Profit. New York: Houghton Mifflin, accessed on 10 June 2025 96. Ibid 97. Ibid 98. Stauss, J. H. (1944), ‘The entrepreneur: The firm’. Journal of Political Economy 52, 112–127, accessed on 10 June 2025 99. Beatty, Jack (1998). The World According to Peter Drucker. The Free Press. ISBN 978-0-68483801-4, accessed on 14 Jul 2025 100. Murphy, Glenn (2023). Delivering on Drucker’s Call to Action. Strategic Finance, Volume 104, Issue 7, Jan. 2023, accessed on 10 June 2025 101. Drucker, Peter (2013). The Discipline of Innovation Chap-ter in On Innovation, Harvard Business Review, 2013, 102. Ibid Norwegian Journal of development of the International Science No 167/2025 173 103. https://ideas.repec.org/a/ajn/abrjou/v10y202 5i3p45-49id315.html, accessed on 12 Aug 2025 104. Aparicio, S., Urbano, D. and Audretsch, D., 2016. ‘Insti-tutional factors, opportunity entrepreneurship and economic growth: panel data evidence’, Technological Forecasting and Social Change, 102: 45–61 https://doi.org/10.1016/j.techfore.2015.04.006, accessed on 29 Sep 2025 105. https://www.emerald.com/ijebr/articleabstract/16/2/92/119106/Entrepreneurialcompetencies-a-literaturereview?redirectedFrom=fulltext, accessed on 12 Aug 2025 106. Atems, B. and Shand, G., 2018. ‘An empirical analysis of the relationship between entrepreneurship and income ine-quality’, Small Business Economics, 51: 905–922 https://doi.org/10.1007/s11187-017-9984-1, accessed on 29 Sep 2025 107. Collins, J. and Moore, D. (1970) The Organization Mak-ers, Appleton-Century-Crofts, New York, 1970 108. Opcit Peter Drucker, (1970) 109. Gold, Steven K (2005) "Entrepreneur's Notebook" Learn-ing Ventures Press, 2005 110. Hebert, R.F. and Link, A.N. (1988) The Entrepreneur: Mainstream Views and Radical Critiques. New York: Prae-ger, 2nd edition 111. Israel Kirzner, (1997) 'Entrepreneurial Discovery and the Competitive Market Process: An Austrian Approach', Journal of Economic Literature 35: 60-85, accessed on 29 Sep 2025 112. Shane, S and Venkataraman, S (2000), 'The Promise of Entrepreneurship as a Field of Research', Academy of Man-agement Review 25(1): 217-226, accessed on 29 Sep 2025 113. Deakins, D.; Freel, M. S. (2009). "Entrepreneurial activity, the economy and the importance of small firms". Entrepreneurship and small firms. McGraw-Hill Edu-cation. ISBN 978-0-07712162-4, accessed on 29 Sep 2025 114. Almeida, Felipe; De Paula, Nilson; Pessali, Huascar (2014). "Institutional entrepreneurship in building the Brazili-an market of functional yogurts". British Food Jour-nal. 116: 2–15. doi:10.1108/BFJ-022012-0028, accessed on 29 Sep 2025 115. Landstrom, H. (2007). Pioneers in Entrepreneurship and Small Business Research. Springer. ISBN 978-0-387-23633-9, accessed on 29 Sep 2025 116. Lumpkin, GT and Dess, GG (1996) 'Clarifying the Entre-preneurial Orientation Construct and Linking it to Perfor-mance', Academy of Management Review 21(1): 135-172, accessed on 29 Sep 2025 117. Pinchot, G. (1985) Intrapreneuring, Harper and Row, New York, 1985 118. Joseph Schumpeter, (1950) Capitalism, Socialism, and Democracy, 3rd edition, Harper and Row, New York, 1950 119. Shane S., (2003) A general theory of entrepreneurship: the individual-opportunity nexus in New Horizons in Entrepre-neurship series, Edward Elgar Publishing, accessed on 29 Sep 2025 120. Stevenson, HH and Jarillo, JC (1990) 'A Paradigm of Entrepreneurship: Entrepreneurial Management', Strategic Management Journal 11: 1727, accessed on 29 Sep 2025 121. Scott A. Shane (2008). "7". The Illusions of Entrepreneur-ship: The Costly Myths That Entrepreneurs, Investors, and Policy Makers Live By. Yale University Press. ISBN 978-0-300-15006-3, accessed on 29 Sep 2025 122. Perry-Rivers, P. (October 2014). "Stratification, Economic Adversity, and Entrepreneurial Launch: The Converse Effect of Resource Position on Entrepreneurial Strate-gy". Entrepreneurship Theory & Practice. 40 (3): 685–712. doi:10.1111/etap.12137, accessed on 29 Sep 2025 123. Rauch, Jonathan (November 2018). "Generation next, Millennials will outnumber babyboomers in 2019". The Economist. Archived from the original on 13 March 2019, accessed on 29 Sep 2025 124. Henderson, James; Ferguson, Alastair (2014). International Partnership in Russia: Conclusions from the Oil and Gas Industry (reprint ed.). Springer Palgrave Macmillan. p. 86. ISBN 9781137352279, accessed on 29 Sep 2025 125. https://www.investopedia.com/terms/e/entr epreneur.asp, accessed on 20 Jul 2025 126. Carlen, Joe (2016). A Brief History of Entrepreneurship: The Pioneers, Profiteers, and Racketeers Who Shaped Our World. New York: Columbia University Press. p. 1, ISBN 9780231542814, accessed on 20 Jul 2025 127. Etuk, E. J. and Mbat, D. O., (2010). Entrepreneurship development for students and practitioners. Abuja: Century Frontiers Investment Limited, accessed on 20 Jul 2025 128. European Commission, (2008). Final Report of the Expert Group Entrepreneurship in Higher Education, especially with-in non-business studies. Brussels: European Commission, March 2008, accessed on 20 Jul 2025 129. Fems, K. M., Abara, O. & Poazi, F. W. D., (2016). Entre-preneurship: Cure for Economic UnderDevelopment. A The-oretical Perspective. International Journal of Social, Behav-ioural, Educational, Economic, Business and Industrial Engi-neering, 10(9), pp. 3075-3080, accessed on 20 Jul 2025 130. Ogundele, O. J. K., Idris, A. A. and AhmedOgundipe, K. A. (2009). Entrepreneurial Succession Problems in Nigeria’s Family Businesses: A Threat to Sustainability. European Sci-entific Journal, 8(7), pp. 208-227, accessed on 20 Jul 2025 174 Norwegian Journal of development of the International Science No 167/2025 131. Izedonmi, P. F. & Okafor, C., (2010). The effect of entre-preneurship education on students’ entrepreneurial intentions. Global Journal of Management and Business Research, 10(6), pp. 49-60, accessed on 20 Jul 2025 132. Watkins-Mathys, L. (2009). Developing Student-led En-trepreneurship Learning: the SouthEast England Collabora-tive Model. Buckinghamshire: Buckinghamshire New Uni-versity, accessed on 20 Jul 2025 133. Kuratko, D. F., (2005). The Emergence of Entrepreneur-ship Education: Development, Trends, and Challenges. Jour-nal of Entrepreneurship Theory and Practice, accessed on 20 Jul 2025 134. https://mlari.ciam.edu/peter-drucker-oninnovation-and-results, accessed on 20 Jul 2025 135. J. R. Lowerson, 'Slazenger, Ralph (1845– 1910)’, Oxford Dictionary of National Biography, Oxford University Press, 2004, accessed on 20 Jul 2025 136. Casson, M. (2003) The Entrepreneur: An Economic Theo-ry, second edition", Edward Elgar Publishing 2003, accessed on 20 Jul 2025 137. Hossain K A, (2023c), Evaluation of Prospect and Chal-lenges of Artificial Intelligence (Al) and Preparation for Fu-ture, American Journal of Computer Science and Technology 6 (4), 148-169, accessed on 10 Aug 2025 138. Stevenson H, Roberts M and Bhide A. 1999. e entrepre-neurial venture, Sahlman W (Ed.). Harvard Business School, US, accessed on 10 Aug 2025 139. https://www.linkedin.com/pulse/whyworld-needs-more-entrepreneurs-now-than-evermegan-pauli-ovzif, accessed on 12 Jul 2025 140. Bernier L and Hafsi T. 2003, changing nature of public entrepreneurship. USA, Midwest Political Science Associa-tion Conference, accessed on 10 Aug 2025 141. https://www.researchgate.net/publication/3 80262803_Entrepreneurship__Concepts_Characters_and_Theories, 142. Mishra A H, El-Osta H and Shaik S. 2010. Succession decisions in U. S. Family farm business. Journal of Agricul-tural and Resource Economics. 35:133-2, accessed on 10 Aug 2025 143. https://www.entrepreneur.com/enin/women-entrepreneur/tracing-the-rise-of-womenentrepreneurs/329874, accessed on 10 Sep 2025 144. Uplaonkar S S and Biradar. 2015. Development of agri-culture in India through arbitrageurs, International Journal of Applied Research. 1(9):1063-66, accessed on 10 Sep 2025 145. Shailesh K, Gyanendra S and Yadav V K. 2013. Factors influencing entrepreneurial behaviour of vegetable growers. Indian Research Journal of Extension Education. 13(1):1619. 22, accessed on 10 Aug 2025 146. https://www.researchgate.net/publication/5 967914_Entrepreneurship_Research_and_Practice, accessed on 10 Sep 2025 147. https://www.blinkist.com/en/books/superint elligence-en, accessed on 04 Oct 2023 148. LIMS, (2023), Nobody always sees the whole pictures, our AI do; available at: www.lmis.de/im-wandel-der-zeit-von-industrie-1-0bis-4-0,accessed on 15 Aug 2023 149. Hossain, K. A., (2023), An overview of merchant ships, International Journal of Novel Research and Development (IJNRD), Vol 8, Issue 6, June 2023, ISSN 2456-4184, ac-cessed on 13 Aug 2023 150. Hossain, K. A., (2023), An Overview of Naval Ships, Scientific Research Journal (SCIRJ) 11 (6), ISSN: 2201-2796, June 2023, accessed on 15 Aug 2023 151. Stiemerling, (2015), ‘Künstliche Intelligenz’ – Automatis-ierunggeistiger Arbeit, Big Data und das Internet der Dinge’, Computer und Recht 762 ff, accessed on 15 Aug 2023 152. Forschungsunion and acatech, (2013), ‘Deutschlands Zu-kunftals Produktionsstandortsichern: Umsetzungsempfehlungfür das Zukunftsprojekt Industrie 4.0’, Promotoren-gruppeKommunikation der ForschungsunionWirtschaft – Wissenschaft,accessed on 15 Aug 2023 153. Arbeitsmarkt und Wirtschaft, (2015), Industrie 4.0 und die Folgenfür IAB Forschungsbericht 8/2015, Institute for Em-ployment Research, 12, accessed on 15 Aug 2023 154. Hossain K A, (2023), Analysis of Present and Future Use of Artificial Intelligence (AI) in Line of 4th industrial Revolu-tion (4IR), Scientific Research Journal 11 (8), ISSN: 2201-2796, Aug 2023, accessed on 14 Aug 2023 155. SandroPanagl, (2015), ‘Digitalisierung der Wirtschaft - BedeutungChancen und Herausforderungen’, Austrian Eco-nomic Chambers 5, accessed on 15 Aug 2023 156. Hossain, K. A., (2023), Technological advancement and future of warship building, International Journal of Research and Development (IJNRD), Vol 8, Issue 5, May 2023, ISSN 2456-4184, accessed on 13 Aug 2023 157. Bloomberg, (2016), available at: www.bloomberg.com/news/videos/2016-0520/forward-thinking-march-of-the-machines,accessed on 15 Aug 2023 158. Hossain, K. A., (2023), Evaluation of Influence of Internet of Things (IOT) Technologies and Devices in 21 Century, Scientific Research Journal 11 (7), ISSN: 2201-2796, Jul 2023, accessed on 14 Aug 2023 159. Apthorpe, N., et al, (2019), Keeping the smart home private with smart(er) IoT traffic shaping, Proceedings on Privacy Enhancing Technologies, 2019 (3): 128–148 Norwegian Journal of development of the International Science No 167/2025 175 160. Hossain, K. A., (2023), The Potential and Challenges of Quantum Technology in Modern Era, Scientific Research Journal 11 (6), Jun 2023, accessed on 16 Aug 2023 161. https://www.mdpi.com/journal/IoT, accessed on 31 May 2023 162. Desai, B.C., (2017), IoT: imminent ownership threat. In Proceedings of the 21st International Database Engineering & Applications Symposium, 82–89, accessed on 27Aug 2023 163. What is IoT: The Internet of Things explained | McKinsey.https://www.mckinsey.com/featuredinsights/mckinsey-explainers/what-is-the-internet-ofthings, accessed on 31 May 2023 164. http://it-inindustry.org/index.php/itii/article/view/702,accessed on 31 May 2023 165. https://stock.adobe.com/tw/search?k=%22f uture+world%22, accessed on 27Aug 2025 166. https://robinmarkphillips.com/marriagehumans-robots-part-2/, accessed on 21 Aug 2025 167. Housman M., (2018), Why ‘Augmented Intelligence’ Is a Better Way to Describe AI, AINews, 2018, accessed on 23 Jul 2023 168. Jordan M.I., (2015), Mitchell, T.M. Machine learning: Trends, perspectives, and prospects. Science 2015, 349, 255–260, accessed on 29 June 2023 169. Housman, M., (2018), Why ‘Augmented Intelligence’ Is a Better Way to Describe AI, AINews, 2018, accessed on 27Aug 2023 170. Jordan, M.I.; Mitchell, T.M. Machine learning: Trends, perspectives, and prospects. Science 2015, 349, 255–260 171. Russell Stuart J., et al., (2009), Artificial Intelligence: A Modern Approach (3rd ed.). Upper Saddle River, New Jer-sey: Prentice Hall, ISBN 978-013-604259-4, accessed on 23 Jul 2023 172. Crevier Daniel, (1993), AI: The Tumultuous Search for Artificial Intelligence, New York, NY: Basic Books, ISBN 0-465-02997-3, accessed on 23 Jul 2023 173. Newquist HP, (1994), The Brain Makers: Genius, Ego, And Greed In The Quest For Machines That Think. New York: Macmillan/SAMS, ISBN 9780-672-30412-5, ac-cessed on 23 Jul 2023 174. Poole David, et al., (2017), Artificial Intelligence: Founda-tions of Computational Agents (2nd ed.), Cambridge Univer-sity Press, ISBN 978-1107-19539-4, accessed on 23 Jul 2023 175. Nilsson Nils, (1998), Artificial Intelligence: A New Syn-thesis. Morgan Kaufmann, ISBN 978-155860-467-4, ac-cessed on 23 Jul 2023 176. Russell Stuart J., et al., (2003), Artificial Intelligence: A Modern Approach (2nd ed.), Upper Saddle River, New Jer-sey: Prentice Hall, ISBN 0-13790395-2, accessed on 23 Jul 2023 177. Frangoul Anmar, (14 June 2019). "A Californian business is using A.I. to change the way we think about energy stor-age", CNBC, accessed on 23 Jul 2023 178. Brown Eileen, (5 November 2019). "Half of Americans do not believe deepfake news could target them online", ZDNet, accessed on 23 Jul 2023 179. Stephen Chen, (30 Jul 2018), "Artificial intelligence, im-mune to fear or favour, is helping to make China's foreign policy | South China Morning Post", 25 March 2023 180. Heath Nick, (11 December 2020). "What is AI? Every-thing you need to know about Artificial Intelligence". ZDNet, accessed on 23 Jul 2023 181. Matz S. C., et al., (28 November 2017), "Psychological targeting as an effective approach to digital mass persua-sion", Proceedings of the National Academy of Sciences of the United States of America, 114 (48): 12714–12719, ac-cessed on 23 Jul 2023 182. Busby Mattha, (30 April 2018), "Revealed: how bookies use AI to keep gamblers hooked". The Guardian, accessed on 23 Jul 2023 183. BBC News, (9 November 2020), How artificial intelli-gence may be making you buy things, accessed on 23 Jul 2023 184. Rowinski Dan, (15 January 2013), Virtual Personal Assis-tants & The Future Of Your Smartphone (Infographic), ReadWrite, accessed on 23 Jul 2023 185. Galego Hernandes, et al, (December 2021), "Phishing Detection Using URL-based XAI Techniques", 2021 IEEE Symposium Series on Computational Intelligence (SSCI): 01–06, accessed on 23 Jul 2023 186. Clark Jack, (8 December 2015). "Why 2015 Was a Break-through Year in Artificial Intelligence". Bloomberg L.P 187. The Guardian, (1 Aug 2022), Can artificial intelligence really help us talk to the animals?, The Guardian, original on 31 Aug 2022, accessed on 23 Jul 2023 188. Melby Alan, (1995), The Possibility of Language, Amster-dam: Benjamins, 1995, 27–41, Benjamins.com. 1995, ISBN 9789027216144, accessed on 23 Jul 2023 189. Markoff John, (16 February 2011), "Computer Wins on 'Jeopardy' Trivial, It's Not". The New York Times, accessed on 23 Jul 2023 190. Steven Borowiec, et al., (12 March 2016), AlphaGo beats human Go champ in milestone for artificial intelligence, Los Angeles Times, accessed on 23 Jul 2023 191. Bowling Michael, (9 January 2015), Headsup limit hold'em poker is solved,Science. 347 (6218): 145–149, ac-cessed on 23 Jul 2023 192. WIRED, (9 Oct 2017), Facebook Quietly Enters StarCraft War for AI Bots, and Loses, WIRED, 2017, available at https://www.wired.com/story/facebook-quietly-entersstarcraft-war-for-ai-bots-and-loses/, accessed on 23 Jul 2023 176 Norwegian Journal of development of the International Science No 167/2025 193. The Guardian, (16 February 2016), The superhero of arti-ficial intelligence: can this genius keep it in check?, accessed on 23 Jul 2023 194. K Bharath, (2 April 2021), AI In Chess: The Evolution of Artificial Intelligence In Chess Engines, Medium, accessed on 23 Jul 2023 195. OFA INTELLIGENCE, (2016), Preparing for the future of artificial intelligence, National Science and Technology Council, OCLC 965620122, accessed on 23 Jul 2023 196. Gambhire Akshaya, et al., (8 April 2020). Use of Artificial Intelligence in Agriculture, Proceedings of the 3rd Interna-tional Conference on Advances in Science & Technology (ICAST) 2020, SSRN 3571733, accessed on 23 Jul 2023 197. Intellias, (04 Aug 2023), AI in Agriculture, The Future of Firming, available at https://intellias.com/artificial-intelligence-inagriculture/, accessed on 23 Jul 2023 198. Zhavoronkov Alex, (1 January 2019), "Artificial intelli-gence for aging and longevity research: Recent advances and perspectives", Ageing Research Reviews, 49: 49–66. doi:10.1016/j.arr.2018.11.003, accessed on 21 Jul 2023 199. Moreno Millán M., et al., (1 November 2011), "Population, Poverty, Production, Food Security, Food Sovereignty, Biotechnology and Sustainable Development: Challenges for the XXI Century", Bulletin of University of Agricultural Sciences and Veterinary Medicine ClujNapoca.Veterinary Medicine. 1 (68), accessed on 21 Jul 2023 200. Talaviya Tanha, et al., (2020),"Implementation of artificial intelligence in agriculture for optimisation of irrigation and application of pesticides and herbicides". Artificial Intelli-gence in Agriculture, 4: 58–73, accessed on 21 Jul 2023 201. Olick Diana, (2022-04-18), "How robots and indoor farm-ing can help save water and grow crops year round". CNBC, accessed on 21 Jul 2023 202. VentureBeat, (6 Sep 2020), How AI will automate cyber-security in the post-COVID world, available at https://venturebeat.com/business/how-aiwill-automate-cybersecurity-in-the-post-covid-world/, accessed on 21 Jul 2023 203. Anabel Quan Haase, (2020), TECHNOLOGY AND SOCIETY: social networks, power, and inequality. Oxford University Press. ISBN 978-0-19-903225-9, accessed on 21 Jul 2023 204. Richtel Matt, (21 November 2010), "Growing Up Digital, Wired for Distraction", The New York Times, accessed on 21 Jul 2023 205. Chen Hsing Chung, et al., (January 2022), "Week-Wise Student Performance Early Prediction in Virtual Learning Environment Using a Deep Explainable Artificial Intelligence", Applied Sciences. 12 (4): 1885, accessed on 21 Jul 2023 206. Yuskovych Zhukovska, et al., (23 Mar 2022), "Application of Artificial Intelligence in Education.Problems and Opportu-nities for Sustainable Development", BRAIN: Broad Re-search in Artificial Intelligence and Neuroscience. 13 (1Sup1): 339–356, accessed on 23 Jul 2023 207. Americanbanker, (5 Jan 2017), Beyond Robo-Advisers: How AI Could Rewire Wealth Management. 5 January 2017, accessed on 23 Jul 2023 208. O'Neill Eleanor, (31 July 2016), "Accounting, automation and AI", icas.com, Archived from the original on 18 Novem-ber 2016, accessed on 23 Jul 2023 209. Chapman Lizette, (7 January 2019), "Palantir once mocked the idea of salespeople. Now it's hiring them". Los Angeles Times, accessed on 21 Jul 2023 210. Marwala Tshilidzi, et al., (2017), Artificial Intelligence and Economic Theory: Skynet in the Market. Lon-don: Springer. ISBN 978-3-319-66104-9 211. Marwala Tshilidzi, et al., (2017), "Efficient Market Hy-pothesis", Artificial Intelligence and Economic Theory: Skynet in the Market, Cham: Springer International Publish-ing, doi:10.1007/978-3319-66104-9_9 212. Investopedia, (2005(, Algorithmic Trading, Investopedia, original 18 May 2005, accessed on 23 Jul 2023 213. https://www.telematicswire.net/artificialintelligence-and-its-use-cases-in-automotive-industry/, accessed on 28 June 2023 214. https://www.tristatetechnology.com/blog/ar tificial-intelligence-in-healthcare-top-benefits-risksand-challenges, accessed on 28 June 2023 215. Hossain K A, (2023), Analysis of Present and Future Use of Artificial Intelligence (AI) in Line of 4th industrial Revolu-tion (4IR), Scientific Research Journal 11 (8), ISSN: 2201-2796, Aug 2023, accessed on 14 Aug 2023 216. Hossain, K. A., (2023), Evaluation of Influence of Artifi-cial Intelligence (AI) on Technologies in 21st Century, Journal of Eiectronics and Communication Engineering Research, Quest Journal, accessed on 15 Aug 2023 217. Johnny ChLok · 2019, ,Artificial Intelligence Future Ten Development Stages, Independently Pub-lished,ISBN:9781671040670, 1671040678 218. Korinek, Anton and Joseph E. Stiglitz (2019), “Artificial Intelligence and Its Implications for Income Distribution and Unemployment,” in Agrawal et al.: The Economics of Artifi-cial Intelligence, NBER and University of Chicago Press 219. https://www.manufacturingtodayindia.com/ sectors/10725-artificial-intelligence-a-game-changerfor-manufacturers, ac-cessed on 11 Oct 2023 220. https://theconversation.com/using-ai-inagriculture-could-boost-global-food-security-but-we- Norwegian Journal of development of the International Science No 167/2025 177 need-to-anticipate-the-risks-178104, accessed on 11 Oct 2023 221. Hossain, K. A., (2023), Evaluate the Mystery of Creation of Universe and Existence of Antimatter Dark Matter and Dark Energy, International Journal of Current Science Re-search and Review 6 (6), Jun 2023, accessed on 16 Aug 2023 222. https://nagalandpost.com/index.php/metascientist-yann-lecun-dismisses-ai-threat-to-humanity/, accessed on 17 June 2023 223. Johnny ChLok,(2020), Artificial Intelligence How Impacts Global Economy, Independently Pub-lished,ISBN:9781661685263, 1661685269,accessed on 30 Aug 2023 224. Pablo Padula,(2023), Are You Going to Lose Your Job to Artificial Intelligence?, Amazon Digital Services LLC - Kdp, ISBN:9798391007401,accessed on 30 Aug 2023 225. Alexander J. Means, et al, (2020),Education and Techno-logical Unemployment,Springer Nature Singapore, ISBN:9789811362255, 9811362254,accessed on 30 Aug 2025 226. https://www.theguardian.com/society/2020/ sep/07/robots-used-uk-care-homes-help-reduceloneliness, accessed on 17 June 2023 227. https://www.trickyenough.com/how-ai-ischanging-the-finance-sector-finance-to-fintech/, accessed on 30 Aug 2025 228. Castellanos S. What exactly is artificial intelligence. The Wall Street Journal. 2018, accessed on 30 Aug 2025 229. Fumo D. Types of machine learning algorithms you should know. Towards Data Science, 2017, accessed on 30 Aug 2025 230. Menzies T., (2003), 21st-century AI: proud, not smug. IEEE Intell Syst. 2003;18(3):18–24, accessed on 30 Aug 2025 231. Schatsky D, et al, (2014), Demystifying artificial intelli-gence: what business leaders need to know about cognitive technologies. Deloitte Insights, 2014, accessed on 17 June 2023 232. https://www.knowledgehut.com/blog/datascience/future-of-robotics, accessed on 16 June 2023 233. https://www.tesla.com/en_eu, accessed on 16 June 2023 234. https://www.forbes.com/?sh=12c92a75225 4, accessed on 16 June 2023 235. https://www.weforum.org/reports/thefuture-of-jobs-report-2020, accessed on 26 June 2023 236. https://www.mckinsey.com/mgi/overview, accessed on 26 June 2023 237. James Bessen, (2015), learning by doing: The real connec-tion between innovation, wages, and wealth, Yale University Press, 2015, accessed on 26 June 2023 238. https://www.aboutamazon.com/news/workp lace/upskilling-2025, accessed on 26 June 2023 239. https://www.pwc.nl/en/publicaties/digitalfactories-2020-shaping-the-future-ofmanufacturing.html, accessed on 26 June 2023 240. https://www.pwc.com/, accessed on 26 June 2023 241. https://www.mit.edu/, accessed on 26 June 2023 242. https://www.bmw.com/en/index.html, accessed on 26 June 2023 243. https://blog.wor-con.com/when-smarttechnology-meets-manufacturing/?lang=en, accessed on 17 June 2023 244. www.youtube.com/watch?v=mSBcGSStqc, accessed on 24 June 2023 245. Greshko M. Meet Sophia, the robot that looks almost hu-man, National Geographic, 2018, accessed on 17 June 2023 246. Hatmaker T. Saudi Arabia bestows citizenship on a robot named Sophia, Tech Crunch, 2017, accessed on 17 June 2023 247. https://miko.ai/, accessed on 24 June 2023 248. http://www.parorobots.com/, accessed on 24 June 2023 249. https://www.hansonrobotics.com/professoreinstein/, ac-cessed on 24 June 2023 250. www.riken.jp/en/pr/press/2015/20150223_ 2, accessed on 24 June 2023 251. www.youtube.com/watch?time_continue=5 &v=ssv7tcXJSnQ, accessed on 24 June 2023 252. www.pillohealth.com, accessed on 24 June 2023 253. https://buddytherobot.com/en/buddy-theemotional-robot, accessed on 24 June 2023 254. https://www.japantimes.co.jp/news/2023/03 /20/world/germany-taps-robots-elderly-care/, accessed on 17 Sep 2023 255. https://edition.cnn.com/2015/06/22/tech/pe pper-robot-sold-out/index.html, accessed on 18 Sep 2023 256. Finlay GD, et al, (2014), Measuring the modified early warning score and the Rothman Index: advantages of utilizing the electronic medical record in an early warning system. J Hosp Med, 2014;9(2):116– 119, accessed on 05 Oct 2023 257. Yen PY, et al, (2018), Nurses' time allocation and multi-tasking of nursing activities: a time motion study, AMIA AnnuSympProc, 2018;2018:1137–1146, accessed on 05 Oct 2023 258. Li J, et al, (2018), Thetele-robotic intelligent nursing assis-tant (TRINA), Duke University Pratt School of Engineering Intelligent Motion Laboratory. 2018, accessed on 05 Oct 2023 259. McKinsey Global Institute, Jobs lost, jobs gained: work-force transitions in a time of automation. 2017, accessed on 05 Oct 2023 260. Brynjolfsson E, et al (2018), What can machines learn, and what does it mean for occupations and the economy. AEA Pap Proc. 2018;108:43–47, accessed on 05 Oct 2023 184 Norwegian Journal of development of the International Science No 167/2025 486. https://knowledge.wharton.upenn.edu/articl e/lenovo-groups-liu-chuanzhi-on-building-a-healthycompany/, accessed on 19 Jul 2025 487. https://www.straitstimes.com/business/entre preneurship-consumption-will-propel-chinas-growthlenovo-founder, accessed on 19 Jul 2025 488. https://online.hbs.edu/blog/post/successfulentrepreneur-stories, 489. https://www.youtube.com/watch?v=74dBv veSQQM, 490. https://aits-tpt.edu.in/wpcontent/uploads/2023/08/EntreprenurshipDevelopment-min.pdf, 491. https://www.bajajfinserv.in/entrepreneurshi p-development, 492. https://www.youtube.com/watch?v=nfOPU N_0xm8, 493. https://www.investopedia.com/terms/e/entr epreneur.asp#, accessed on 17 Jul 2025 494. Shane, S. (2000). "The Promise of Entrepreneurship as a Field of Research". Academy of Management Review. 25 (1): 217–226. doi:10.5465/AMR.2000.2791611, accessed on 13 Jul 2025 495. Reynolds PD, Hay M, Bygrave WD et al. (2002) Global Entrepreneurship Monitor: 2002 Global Executive Report. Kansas City, MO: Kauffman Foundation, accessed on 13 Jul 2025 496. Charles W. L. Hill; Gareth R. Jones (2008). Essentials of Strategic Management. South-Western College Pub. ISBN 978-0-547-19432-5, accessed on 17 Jul 2025 497. https://www.businessinsider.in/strategy/app le-ceo-tim-cook-wakes-up-every-day-at-345-a-m-itried-doing-it-for-a-week-and-it-made-me-shockinglyproductive-/articleshow/70881139.cms, accessed on 13 Jul 2025 498. https://www.quora.com/How-do-you-stayorganized-and-manage-time-effectively-as-anentrepreneur-1, accessed on 17 Jul 2025 499. https://blog.fresent.com/taking-risksentrepreneurs-successful/, accessed on 17 Jul 2025 500. https://www.investopedia.com/ask/answers/ 040615/what-risks-does-entrepreneur-face.asp, accessed on 17 Jul 2025 501. https://en.wikipedia.org/wiki/Bill_Campbel l_(business_executive), accessed on 17 Jul 2025 502. Ann., Camp, Carole (2004). American women inventors. Berkeley Heights, NJ: Enslow Publishers. ISBN 978-0-7660-1538-8, accessed on 13 Jul 2025 503. https://online.hbs.edu/courses/entrepreneurs hip-essentials/, accessed on 15 Jul 2025 504. https://www.inc.com/larry-kim/25billionaire-quotes-about-success-in-business-amplife.html, accessed on 15 Jul 2025 505. https://www.linkedin.com/pulse/introvertscan-successful-entrepreneurs-yvonne-a-jones-cpsra8xe/, accessed on 13 Jul 2025 506. https://medium.com/swlh/you-can-be-anintrovert-a-successful-entrepreneur-if-you-knowcertain-things-84e84b6a09c8, 507. https://www.truity.com/blog/5-supersuccessful-introverts-and-what-they-did-right, accessed on 13 Jul 2025 508. https://www.rrstar.com/story/opinion/colum ns/guest/2016/02/27/my-view-failure-successtwo/32466898007/, 509. https://primeinsights.in/why-failure-is-thepathway-to-success/#, 510. https://aligntoday.com/blog/success-andfailing#, 511. https://www.linkedin.com/pulse/importance -strong-work-ethic-entrepreneurship-every-dayhussain-cz0te/, 512. Wattles, Jackie (December 8, 2020). "SpaceX gets almost $900 million in federal subsidies to deliver broadband to rural America". CNN. Archived from the original on December 18, 2020, accessed on 13 Jul 2025 513. https://www.quora.com/What-is-theperfect-work-ethic-for-an-entrepreneur, 514. https://believe.evancarmichael.com/homepa ge, accessed on 13 Jul 2025 515. https://www.marsdd.com/ourstory/entrepreneurship-skill-can-taught-can-learned/, 516. https://www.entrepreneur.com/living/the-6questions-i-ask-before-i-say-yes-to-anything/309695, 517. https://startupnation.com/grow-yourbusiness/attitude-smart-ceos-say-yes/, 518. https://lassonde.utah.edu/yesentrepreneurship-can-be-learned-heres-how/, 519. https://www.wired.com/2008/02/marissamayer-r/, accessed on 13 Jul 2025 520. https://www.quora.com/Do-I-need-to-bean-extrovert-in-order-to-be-a-good-entrepreneur, accessed on 13 Jul 2025 521. https://beatechelette.com/in-business-is-itbetter-to-be-an-extrovert-or-introvert/, 522. Hackman, M.Z.; Johnson, C.E. (2009). Leadership: A communication perspective (5th ed.). Long Grove, IL: Waveland, accessed on 13 Jul 2025 523. Baum, Robert J.; Locke, Edwin A.; Kirkpatrick, Shelley A. (1998). "A longitudinal study of the relation of vision and vision communication to venture growth in entrepreneurial firms". Journal of Applied Psychology. 83 (1): 43–54. doi:10.1037/00219010.83.1.43, accessed on 13 Jul 2025 524. Locke, E.A.; Kirkpatrick, S.; Wheeler, J.K; Schneider, J; Niles, K.; Goldstein, H; Welsh, K; Chah, D.O. (1991). The essence of leadership. New York: Lexington Books, accessed on 13 Jul 2025 525. https://www.cavendish.ac/effectivecommunication-for-entrepreneurs/, 526. https://www.britishcouncil.org.bd/en/busine ss-communication-skills, 527. https://www.beekeeper.io/blog/internalcommunication-trends/, accessed on 13 Jul 2025 Norwegian Journal of development of the International Science No 167/2025 185 528. Giles, Howard; Edwards, America L.; Walther, Joseph B. (September 2023). "Communication accommodation theory: Past accomplishments, current trends, and future prospects". Language Sciences. 99: 101571. doi:10.1016/j.langsci.2023.101571, accessed on 13 Jul 2025 529. Littlejohn, S., Foss, K. (2011). Theories of Human Communication (10 ed.). Long Grove, IL: Waveland Press. p. 203. ISBN 978-1-57766-706-3, accessed on 13 Jul 2025 530. Rank, H (1976). Teaching about public persuasion. National Council of Teachers of English, accessed on 13 Jul 2025 531. https://www.ucanwest.ca/blog/educationcareers-tips/5-tips-for-improving-businesscommunication-skills, 532. https://online.hbs.edu/blog/post/teamdecision-making, accessed on 13 Jul 2025 533. https://pubmed.ncbi.nlm.nih.gov/12510608/ , accessed on 13 Jul 2025 534. https://www.indeed.com/careeradvice/career-development/building-trust, accessed on 13 Jul 2025 535. Festinger, L. (1954). "A theory of social comparison processes". Human Relations. 7 (2): 117– 140. doi:10.1177/001872675400700202, accessed on 13 Jul 2025 536. Gough, Harrison G.; McClosky, Herbert; Meehl, Paul E. (1952). "A personality scale for social responsibility". The Journal of Abnormal and Social Psychology. 47 (1): 73–80. doi:10.1037/h0062924. ISSN 0096-851X, accessed on 13 Jul 2025 537. Druckman, Daniel; Bjork, Robert A., eds. (1994). Learning, Remembering, Believing: Enhancing Human Performance. Washington, D.C.: National Academies Press. doi:10.17226/2303. ISBN 978-0309-04993-1, accessed on 11 Jul 2025 538. Compte, O.; Postlewaite, A. (2004). "Confidence-enhanced performance". The American Economic Review. 94 (5): 1536–1557, accessed on 11 Jul 2025 539. Maslow, A. H. (1 July 1943). "A theory of human motivation". Psychological Review. 50 (4): 370–396. CiteSeerX 10.1.1.334.7586. doi:10.1037/h0054346. ISSN 1939-1471, accessed on 11 Jul 2025 540. Hobfoll, Stevan E. (1988). The Ecology of Stress. Taylor & Francis. ISBN 9780891168454, accessed on 11 Jul 2025 541. Deutsch, Morton; Gerard, Harold B. (1955). "A study of normative and informational social influences upon individual judgment". The Journal of Abnormal and Social Psychology. 51 (3): 629–636. doi:10.1037/h0046408, accessed on 11 Jul 2025 542. Johnson, Dominic D.P.; Fowler, James H. (14 September 2011). "The evolution of overconfidence", Nature, 477 (7364): 317-320, Bibcode:2011Natur.477..317J. doi:10.1038/nature10384, accessed on 11 Jul 2025 543. Conger, Jay A.; Kanungo, Rabindra N. (1994). "Charismatic Leadership in Organizations: Perceived Behavioral Attributes and Their Measurement". Journal of Organizational Behavior. 15 (5): 439–452. doi:10.1002/job.4030150508, accessed on 20 Jul 2025 544. https://www.linkedin.com/advice/0/hereshow-you-can-cultivate-sustain-robust-relationshipsl6jrc, accessed on 20 Jul 2025 545. https://execsintheknow.com/magazines/apri l-2024-issue/the-power-of-listening-leveragingcustomer-feedback-to-drive-brand-success/#, accessed on 20 Jul 2025 546. https://www.qualtrics.com/engb/experience-management/customer/customerrelationship-building/#, accessed on 20 Jul 2025 547. https://online.stmarys.ac.uk/blogs/whyfinancial-literacy-is-essential-for-entrepreneurs/, accessed on 20 Jul 2025 548. https://www.linkedin.com/pulse/whybusiness-owners-should-listen-customers-rishuchaitanya-bktpf/, accessed on 20 Jul 2025 549. https://www.linkedin.com/pulse/financialmanagement-entrepreneurs-key-strategies-successlone-mosito-o2qff/, accessed on 20 Jul 2025 550. https://www.linkedin.com/pulse/financialmanagement-tips-entrepreneurs-business-owners776af/, accessed on 20 Jul 2025 551. https://online.york.ac.uk/resources/how-tomanage-personal-and-business-finances-as-anentrepreneur/, accessed on 20 Jul 2025 552. https://foundersmag.com/financialmanagement/#, accessed on 20 Jul 2025 553. https://www.quora.com/How-do-youmove-forward-with-subjects-that-didn-t-meet-yourexpectations-like-English-in-your-case, accessed on 20 Jul 2025 554. https://www.robinwaite.com/blog/buildingresilience-as-an-entrepreneur-how-to-overcomesetbacks-and-stay-motivated, accessed on 20 Jul 2025 555. https://www.linkedin.com/advice/3/yourefacing-setbacks-your-entrepreneurial-journey-ag6lc, accessed on 20 Jul 2025 556. https://economicinsider.com/overcomingchallenges-and-setbacks-strategies-for-entrepreneurs/, accessed on 20 Jul 2025 557. https://wadhwanifoundation.org/stayingmotivated-during-tough-times-6-strategies-forentrepreneurs/, accessed on 20 Jul 2025 558. https://www.quora.com/How-can-Iovercome-challenges-and-setbacks-in-myentrepreneurial-journey, accessed on 20 Jul 2025 559. https://fastercapital.com/topics/overcomingchallenges-with-a-positive-mindset.html, accessed on 20 Jul 2025 560. https://www.womenpreneurdigital.com/blog/building-a-resilient-mindset- 186 Norwegian Journal of development of the International Science No 167/2025 nurturing-strength-in-entrepreneurs-86.html, accessed on 20 Jul 2025 561. https://fastercapital.com/content/Rehabilitat ion-Center-Testimonial--Startups-and-RehabilitationCenters--Stories-of-Resilience-and-Recovery.html, 562. https://vizologi.com/right-attitude-forentrepreneurial-success/, accessed on 20 Jul 2025 563. https://themeaningmovement.com/edisonssecret-to-success-and-how-you-can-overcome-thefear-of-failure/, accessed on 20 Jul 2025 564. https://fastercapital.com/topics/overcomingchallenges-with-a-positive-attitude.html/1, accessed on 20 Jul 2025 565. https://wadhwanifoundation.org/stayingmotivated-during-tough-times-6-strategies-forentrepreneurs/, accessed on 20 Jul 2025 566. https://link.springer.com/chapter/10.1007/9 78-3-031-71064-3_10, accessed on 20 Jul 2025 567. https://www.linkedin.com/pulse/resiliencedetermination-entrepreneurs-dr-pravin-dattatrayabadhe/, accessed on 20 Jul 2025 568. Beatty, Jack (1998). The World According to Peter Drucker. The Free Press. ISBN 978-0-68483801-4, ac-cessed on 19 Aug 2025 569. Kelly, P.; Kranzburg M. (1978). Technological Innovation: A Critical Review of Current Knowledge. San Francisco: San Francisco Press, accessed on 01 Oct 2025 570. Abadzhiev, Andrey; Sukhov, Alexandre; Johnson, Mikael (2024-06-18). "Business model innovation for reducing un-certainty in sustainability transitions: A case study of the wood construction industry". Creativity and Innovation Man-agement. 33 (4): 818–838. doi:10.1111/caim.12622. ISSN 09631690, accessed on 19 Aug 2025 571. Trott, Paul (2005). Innovation Management and New Product Development. Prentice Hall. ISBN 0273686437, accessed on 01 Oct 2025 572. Drucker, Peter (May 23, 1983). "Schumpeter And Keynes". Forbes. Retrieved March 12, 2012, accessed on 19 Aug 2025 573. Zuzul, T., & Tripsas, M. (2020). Start-up inertia versus flexibility: The roleof founder identity in a nascent industry. Administrative ScienceQuarterly, 65(2), 395–433, accessed on 01 Oct 2025 574. Westhead, P., & Wright, M. (Eds.). (2000). Advances in entrepreneurship (Vol. 2). Cheltenham: Edward Elgar, 575. https://quasa.io/media/the-anatomy-of-anentrepreneur, accessed on 19 Aug 2025 576. Yang, X., Lan, T., Qiu, H., & Zhang, C. (2025). Nonline-ar Causal Discovery via Dynamic Latent Variables. IEEE Transactions on Automation Science and Engineering, ac-cessed on 19 Aug 2025 577. Lam, C. F., Romney, A. C., Newton, D. W., & Wu, W. (2024). Challengingthe status quo in a nonchallenging way: A dominance complementarityview of voice inquiry. Personnel Psychology, 77(3), 1235– 1264, accessed on 19 Aug 2025 578. https://www.smallbizgenius.net/by-thenumbers/entrepreneur-statistics/, accessed on 19 Aug 2025 579. https://writersblocklive.com/blog/entrepren eur-statistics/, accessed on 19 Aug 2025 580. https://www.indeed.com/careeradvice/finding-a-job/entrepreneur-characteristics, accessed on 19 Aug 2025 581. Boutellier, Roman; Gassmann, Oliver; von Zedtwitz, Max-imilian (2000). Managing Global Innovation. Berlin: Spring-er. p. 30. ISBN 3-54066832-2, accessed on 19 Aug 2025 582. Colette Henry, et al, (2010), Chapter 2 Encouraging wom-en's entrepreneurship in the sciences: Women in veterinary medicine 15-33, accessed on 19 Aug 2025 583. Chesbrough H.: (2003), Open Innovation: the New Im-perative for Creating and Profiting from Technology, Harvard Business School Press, Boston 584. Alison Morrison, (2006), A contextualization of entrepre-neurship. International Journal of Entrepreneurial 585. Behaviour & Research 12:4, 192-20, accessed on 01 Oct 2025 586. https://www.ijfmr.com/?gad_source=5&ga d_campaignid=17989020439&gclid=EAIaIQobChMI mJP4u_H7jgMVR6PYBR3GnxH8EAEYASAAEgJw qvD_BwE, accessed on 19 Aug 2025 587. Maggie O’Carroll, et al, (2010), Women’s International Centre for Economic Development 588. (WICED), International Journal of Gender and Entrepreneur-ship 2:2, 197-204, accessed on 01 Oct 2025 589. Edgar Voltmer, et al, (2011), Work-related behavior and experience patterns of entrepreneurs compared to teachers and physicians. International Archives of Occupational and Envi-ronmental Health 84, 479-490, 590. https://web.archive.org/web/202310020403 49/https://innovationzen.com/blog/2006/07/29/innovat ion-management-theory-part-1/, accessed on 19 Aug 2025 591. Liang, J., Farh, C. I., & Farh, J. L. (2012). Psychological antecedents ofpromotive and prohibitive voice: A two-wave examination. Academy ofManagement Journal, 55(1), 71–92, accessed on 01 Oct 2025 592. Mbogu, H. M., & Nicholson, C. (2023). Data-Driven Root Cause Analysis Via Causal Discovery Using Time-To-Event Data. Available at SSRN 4414871, accessed on 19 Aug 2025 593. Liu, W., Tangirala, S., Lam, W., Chen, Z., Jia, R. T., & Huang, X. (2015), How and when peers’ positive mood influences employees’ voice. Journalof Applied Psychology, 100(3), 976–989, accessed on 19 Aug 2025 594. Logue, D., & Grimes, M. (2022). Living up to the hype: How new ventures manage the resource and liability of future-oriented visions within Norwegian Journal of development of the International Science No 167/2025 187 thenascent market of impact investing. Academy of Management Journal,65(3), 1055–1082, accessed on 19 Aug 2025 595. Deng, Z., Prugsanapan, P., & Kong, Z. (2025). Anytime Communication: A Human-AI Collaboration Framework for Causal-Based Root Cause Analysis. In AIAA SCITECH 2025 Forum, accessed on 01 Oct 2025 596. https://www.entrepreneur.com/starting-abusiness/the-values-that-all-successful-entrepreneursshould-have/468839, accessed on 19 Aug 2025 597. McDonald, R., & Gao, C. (2019). Pivoting isn’t enough? Managing strategic reorientation in new ventures. Organization Science, 30(6), 1289–1318, accessed on 19 Aug 2025 598. Morrison, E. W. (2023). Employee voice and silence: Taking stock a decade later. Annual Review of Organizational Psychology and Organizational Behavior, 10(1), 79–107, accessed on 01 Oct 2025 599. Usawas, G 2010, Results indicate a family business risks collapse Thailand holds. 'Central - friendly' sustainable busi-ness model. [Online]. Available: http://www.gotomanager.com/news/details.aspx?id=8 8569, accessed on 19 Aug 2025 600. Thechatakerng, P, 2009, Determinants of Micro-entrepreneurs Innovation, Paper presented in EDP workshop, Barcelona, April 2-3, Spain, accessed on 19 Aug 2025 601. https://www.entrepreneur.com/enin/growth-strategies/entrepreneurship-is-essentiallyabout-problem-solving/276286, accessed on 19 Aug 2025 602. https://midassoe.com/characteristics-of-asuccessful-entrepreneur/, accessed on 01 Oct 2025 603. https://quasa.io/media/27-reasons-whystartups-fail-and-how-yours-can-succeed, accessed on 01 Oct 2025 604. Sitthipongpanich, T, & Polsiri, P. (2015). 'Do CEO and board characteristics matter? A study of Thai family firms', Journal of Family Business Strategy. 6(2): 119–129.Thechatakerng, P, 2012, Thai Immigrant Entrepreneurs in New Zealand, Contemporary Research on E-business Tech-nology and Strategy Communications in Computer and Information Science, 2012, pp.658-670, accessed on 01 Oct 2025 605. Orne, M. T. (1962). On the social psychology of the psychological experiment: With particular reference to demand characteristics and their implications. American Psychologist, 17(11), 776–783, accessed on 23 Aug 2025 606. https://www.tutor2u.net/business/blog/char acteristics-of-successful-entrepreneurs, accessed on 23 Aug 2025 607. https://www.industryleadersmagazine.com/ 9-essential-traits-of-a-successful-entrepreneurialmindset/, accessed on 23 Aug 2025 608. https://www.kimp.io/entrepreneurialsuccess/, accessed on 01 Oct 2025 609. https://www.smallbizgenius.net/by-thenumbers/entrepreneur-statistics/#, accessed on 23 Aug 2025 610. Petriglieri, G., Ashford, S. J., & Wrzesniewski, A. (2019). Agony and ecstasy in the gig economy: Cultivating holding environments for precarious and personalized work identities. Administrative Science Quarterly, 64(1),124–170, accessed on 23 Sep2025 611. Wennekers, S., van Stel, A., Carree, M., & Thurik, A. R. (2010). The relationship between entrepreneurship and eco-nomic development: Is it Ushaped? Foundations and Trends in Entrepreneurship, 6(3), 167–237, accessed on 23 Aug 2025 612. https://link.springer.com/article/10.1007/s4 3039-023-00077-0, accessed on 01 Oct 2025 613. ttps://www.slideshare.net/slideshow/essenti als-of-entrepreneurs-f/24606635, accessed on 23 Aug 2025 614. McMullen, J. S., & Shepherd, D. A. (2006). Entrepreneurial action and the role of uncertainty in the theory of the entrepreneur. Academy of Management Review, 31(1), 132–152, accessed on 01 Oct 2025 615. https://timespro.com/blog/what-are-the-topcharacteristics-of-an-entrepreneur, accessed on 23 Aug 2025 616. https://joelcomm.com/reasons-why-anentrepreneur-should-establish-a-positivereputation.html, accessed on 23 Aug 2025 617. Roulin, N., Bangerter, A., & Levashina, J. (2015). Honest and deceptive impression management in the employment interview: Can it be detected and how does it impact evaluations. Personnel Psychology, 68(2), 395–444, accessed on 23 Aug 2025 618. https://www.blueprintrf.com/importantcharacteristics-of-successful-entrepreneurs/, accessed on 01 Oct 2025 619. ) https://www.valuer.ai/blog/50examplesof-corporations-that-failed-toinnovate-and-missedtheir-chance, accessed on 23 Aug 2025 620. https://www.liveplan.com/blog/starting/trait s-of-entrepreneurs?srsltid=AfmBOoqRJXI0cIyBitU73SKYuWqkk uS3i9h4luvFk21miQ_Oi2HvG856, accessed on 01 Oct 2025 621. Wiriyakulkit, N, Sirivanasandha, R and Viriyarungsarit, P 2009, Family Business. Bangkok: Siam N & B Publishing, accessed on 23 Aug 2025 622. https://www.theeventplannerexpo.com/10traits-of-successful-entrepreneurs-what-sets-themapart/, accessed on 25 June 2025 623. Toivonen, T., Idoko, O., Jha, H. K., & Harvey, S. (2023). Creative jolts: Exploring how entrepreneurs let go of ideas during creative revision. Academy of Management Journal, 66(3), 829–858, accessed on 01 Oct 2025 188 Norwegian Journal of development of the International Science No 167/2025 624. https://www.bdc.ca/en/articlestools/entrepreneurial-skills/be-effective-leader/stressmanagement-tips-entrepreneurs, accessed on 23 Aug 2025 625. Shepherd, D. A., Seyb, S. K., & George, G. (2023). Grounding business models: Cognition, boundary objects, and business model change. Academy of Management Review, 48(1), 100–122, accessed on 23 Aug 2025 626. Snihur, Y., & Markman, G. (2023). Business Model Research: Past, Present, and Future. Journal of Management Studies, 60(8), e1–e14, accessed on 01 Oct 2025 627. https://www.oneeducation.org.uk/characteri stics-of-successful-entrepreneurs/, accessed on 01 Oct 2025 628. https://bamboi.eu/blogs/blog/entrepreneursh ip-with-a-purpose-contributing-to-the-sustainabledevelopment-goals, accessed on 29 Sep 2025 629. Swider, B. W., Harris, T. B., & Gong, Q. (2022). First impression effects in organizational psychology. Journal of Applied Psychology, 107(3), 346–369, accessed on 02 Oct 2025 630. https://brainly.com/question/49057165, accessed on 01 Oct 2025 631. Wayne, S. J., Sun, J., Kluemper, D. H., Cheung, G. W., & Ubaka, A. (2023). The cost of managing impressions for Black employees: An expectancy violation theory perspective. Journal of Applied Psychology, 108(2), 208–224, accessed on 03 Oct 2025 632. https://ceoentrepreneur.com/are-successfulentrepreneurs-born-or-made/, accessed on 03 Oct 2025 633. https://timespro.com/blog/what-are-the-topcharacteristics-of-an-entrepreneur, accessed on 03 Oct 2025 634. Wheatley, T., Thornton, M. A., Stolk, A., & Chang, L. J. (2024). The emerging science of interacting minds. Perspectives on Psychological Science, 19(2), 355–373, accessed on 03 Oct 2025 [Document text truncated for crawler view.]