Entrepreneurship Unique Business Venture - 2083 Words

Entrepreneurship (TERM PAPER) THE INTRODUCTION Entrepreneurship is unique business venture that is innovative. In most cases, the person or party behind the business venture works to present something new to a prospective market. This includes a significant amount of planning and understanding the needs of your potential market. This is considered a competitive option that requires research, good resources, and detailed innovation if you expect to be successful. In short, it is like going into business for yourself but you take on risks in hopes of reaping the rewards you hope to achieve. In today’s society being an entrepreneur can take you to the next level within an industry. It is about taking an initiative to present something new or make an improvement on something already in existence. You need to be a leader willing to take risks in order to see ideas and concepts materialize. Some say you need to have a certain mindset when it comes to being a successful entrepreneur. Others see it as a different form of self-employment that drives you to work harder since you will rely on personal skills, knowledge, and resources utilized. There is a level of uncertainty when defining an entrepreneur. This may be due to different business elements this concept is connected to. Entrepreneurship is known to be a driving force behind economic growth in recent years. Some of the world’s most popular products and everyday items were created by an entrepreneur. They started off as simpleShow MoreRelatedConcept of Entrepreneurship1455 Words   |  6 PagesQ1. Discuss and define the concept of ‘entrepreneurship’. The entrepreneur is our visionary, the creator in each of us. Were born with that quality and it defines our lives as we respond to what we see, hear, feel, and experience. It is developed, nurtured, and given space to flourish or is squelched, thwarted, without air or stimulation, and dies. Michael Gerber The term entrepreneur has been around since the seventeenth-century, it originates from France, where the phrase â€Å"entreprendre† wasRead MoreEntrepreneurial Skills and the Entrepreneurial Instinct 1387 Words   |  6 PagesSir Alan Sugar famously once said regarding entrepreneurship and entrepreneurial skills â€Å"The entrepreneurial instinct is in you. You cant learn it, you cant buy it, and you cant put it in a bottle. Its just there and it comes out† (Mail online, 2010). Surprisingly enough this is a view not shared by everyone. Whilst it cannot be denied that entrepreneurs are all ultimately unique in some way empirical evidence suggests that they all do share some common characteristics and skills, some of whichRead MoreOverview of Entrepreneurship1418 Words   |  6 PagesIntroduction Entrepreneurship refers to the ability and willingness to design, develop and organize a business in order to realize profits. This is inclusive of management and risk taking in order to get profitable returns. In economics, entrepreneurship refers to the capacity to combine the factors of production such as labor, land and capital in order to realize profits. An entrepreneur is any person with the ability to manage, assume the risk, and conduct business in order to gain profits. AnRead MoreEntrepreneurial process paper1422 Words   |  6 Pagesbeautiful finished product, using different techniques. Such is in the entrepreneurship world; ideas must be transformed using a particular process. This paper will look into the organization of planning, launching and building a venture. It is otherwise referred to as the entrepreneurial process. Describe the four steps of the entrepreneurial process The entrepreneurial process is a set of steps to follow when taking a business idea; those steps are the fundamentals that must be covered in any approachRead MoreEntrepreneurship Is The Process Of Starting A Business Or Other Organization1136 Words   |  5 PagesEntrepreneurship is the process of starting a business or other organization. The entrepreneur develops a business model, acquires the human and other required resources, and is fully responsible for its success or failure. Entrepreneurship operates within an entrepreneurship environment. The word entrepreneur is French and, literally translated, means â€Å"between-taker† or â€Å"go-between.† The definition of entrepreneurship has evolved over time as the world’s economy has changed as well. In 1934, SchumpeterRead MoreTo What Extent is Naturis an Entrepreneurial Company?1245 Words   |  5 Pagesentrepreneurial company? In 1988 Naturis was found as a joint venture between FP Riso Gallo, a well-known ialien producer of rise and Puccinelli, which its field of competence is in the production of dehydrated vegetables. Naturis was perceived as a research oriented entreprise which was exploring potential opportunities with regards to the dehydration process. Naturis was set up through corporate venturing which includes the creation of a new business. In order to acquire new insight and expertise in theRead MoreTaxation On Entrepreneurs Should Not Be Changed1183 Words   |  5 Pagesfollowing measures are necessary to promote entrepreneurship: †¢ Backing or help intrigued business visionaries and little entrepreneurs in their endeavors to reinforce and fabricate systems of business visionaries. †¢ Go past systems administration. Hold occasions that are important to and cover data for the members and motivate communication among them. Welcome a couple of business people or entrepreneurs to talk about the present condition of their business and difficulties they are confronting toRead MoreFactors That Can Promote or Hinder Enterpreneurship1492 Words   |  6 PagesLIST AND EXPLAIN FACTORS THAT CAN PROMOTE OR HINDER ENTREPRENEURSHIP. Entrepreneur: An entrepreneur is a person who starts an enterprise. He searches for change and responds to it. A number of definitions have been given of an entrepreneur- The economists view him as a fourth factor of production along with land labour and capital. To put it very simply an entrepreneur is someone who perceives opportunity, organizes resources needed for exploiting that opportunity and exploits it. Computers, mobileRead MoreImpact Of Entrepreneurship On Business Management1495 Words   |  6 PagesEntrepreneurship is defined as the process of designing, launching and running a business. It typically begins as a business idea such as starting a small business, offering a product or service. What is unique about this venture is the possibility and level of risk involved for instance lack of funds, an unforeseeable economic crisis or poor business decisions. Entrepreneurship is about how people identify opportunities, evaluate whether they are viable and then decide to exploit them or not. TheRead MoreThe Meaning of Technology Entrepreneurship1024 Words   |  4 PagesTechnology Entrepreneurship; Technological Entrepreneurship is the art or process of innovating and imminence assets and products for major return of profit in busi ness. New and unique combinations of innovation are the result of Technological Entrepreneurship. The medium that alleviates wealth in firms, individuals, nations and regions, the research of technology entrepreneurship plays a significant role beyond the satisfaction of intellectual interest. Certainly, Technological Entrepreneurship effect