The Term Of Entrepreneur Has Been Evolved Into Various...

Introduction The term of entrepreneur has been evolved into various definitions, Drucker (1998) defined entrepreneur as individuals who commit to practice innovation systematically, and put their efforts on enhancing social potential or economic of an enterprise. This characteristic also can be found in a team of three Taiwanese young entrepreneurs who have founded a company, Gogolook. They received public praise by the executive chairman of Google due to their innovative call filtering App: Whoscall. The following parts will discussed how the three entrepreneurs put their ideas into practice and how they realised potential business opportunity in a timely manner. Released in the year of 2010,Whoscall is an app that has been widely†¦show more content†¦This acquisition indeed made the three entrepreneurs a big fortune, reflecting the specific function of an entrepreneur as what Drucker (1998) stated: â€Å"entrepreneur creates wealth-producing resources†. Opportunity identification According to what Jeff Kuo recalled, Whoscall was developed simply because he saw the need from his personal experience. Although two of co-founders have a master’s degree in technology management while the other was studying industrial design in his phD, the prior knowledge that they have gained from school did not help them identify the business opportunity promptly. This shows a contradiction to Shane’s claim (2000), who believed that prior knowledge could allow entrepreneurs more easily to seek potential opportunities. In this case, however, the opportunity was rather recognised from what Drucker (1998) called â€Å"unexpected occurrence†. Kuo had once annoyed by a scam phone call from Hong Kong Jockey Association, who asked him to redeem a big cash prize. Rather than ignoring the call, Kuo started searching for the owner of the number from the Internet. This action however suddenly inspired him to combine the idea of â€Å"incoming call† with â€Å"o nline searching†. The role of prior knowledge was rather like a tool to assist these three co-founders in developing the App on their own, as they have the ability and the technology to design the App. Instead of asking external developers for product development,