Entrepreneurship Essay

Essay Entrepreneurship
Describe the term Entrepreneurship and the challenges of starting a small business
Entrepreneurship is the dream of a lifetime for most individuals. The idea of being in control on
one's financial future by establishing, owning, and operating their own business has driven most
individuals in the direction of Sole Proprietorships. Most plunge in looking at the advantage and over
looking the disadvantage and challenges of Sole Proprietorships.
This first challenge that one might face on the road to Entrepreneurship is raising the necessary
funds to finance their business. Financial resources are more limited for sole proprietorships
because they are view as a high risk. Sole Proprietorships have few legal requirements and doesn't
cost...show more content...
Being a part of a franchise you may have easy access to financial assistance to cover start–up cost.
With all the advantage that Franchising brings there are a few disadvantages. The franchiser gives
up a lot of control over operation and has less control over its franchisees.
b) Most Business merge to form a large company, to acquire products and services they may not
have or to bridge the gap in the business cycle. In a horizontal merger companies that product the
same product merge to form a larger company. This gives each company the opportunity to learn
new ideas on operation and production of a product this will help to restructure a company and
allows it to reach new cover new areas. Another form of merger is a vertical merger. In a vertical
merger a company merger with another company to acquire resources the may not have. This allows
a company to focus in a particular area and extend responsibilities to another company concentrated
in a particular area. A conglomerate merger gives company the opportunity to extend their business
and respond to changes in the business cycle. A conglomerate merger is great for companies who
manufacture and distribute product that are seasonal.
c) The idea of being in control on one's financial future by establishing, owning, and operating their
own business has driven most individuals in the direction of sole proprietorship. Becoming an
entrepreneur is a grate way to start up and operation with little risk of
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The Importance of Entrepreneurship Essay
Entrepreneurship Term Paper
"Entrepreneur is defined as a person who starts a business and is willing to risk loss in order to make
money." (Merriam–Webster.com) Since before the Great Recession, economists have recognized
how important entrepreneurship is to the health of the U.S. economy. (Strangler)
"There are four benefits to the U.S. from entrepreneurs' risk–filled but successful efforts.
Entrepreneurs (1) use innovations to improve the quality of life, (2) create new jobs, (3) improve our
position in global economic competition, and (4) create economic growth and new wealth for
reinvestment in the U.S." (Foundation)
Entrepreneurs are responsible for research and development system. "Almost 2/3% of all innovations
are due...show more content...
Small Buisiness Administration) If you are a strong negotiator then you have a better chance at
saving money and running your business. If you do not have good negotiating skills you may want
to work on improving these skills
Creative: "Entrepreneurs must be able to think creatively." (The U.S. Small Buisiness
Administration) If you are able to think "outside the box" then entrepreneurship may be a choice for
you.
Supported by others: Entrepreneurs need the support of other people. Networking is extremely
critical in a business. Business mentors are a perfect go–to person for entrepreneurs. (The U.S.
Small Buisiness Administration)
The name of my business is Sunny Cycle. Sunny Cycle is an online store selling motorcycle
helmets, sunglasses, face masks, goggles Zippo lighters, hunting equipment such as knives and
flashlights. Products should be easy and inexpensive to ship to keep cost down.
An online store would be a great choice for a small business. Online stores are perfect for business
owners that do not have a lot of startup capital and do not want to form a Corporation. While
building the business the use of drop shipping will be used. As the business takes off and I gain
more capital and after knowing which products sell. I would then start contacting wholesalers to
purchase

A Brief Biography of Entrepreneurship Essay
1. Introduction In times of crisis, the economy needs new ideas to bring about a change to reactive
safely the economy and provide more confidence to the customers. Entrepreneurship plays an
important role in the sustainable growth in the economy performance. Innovation and creativity
have been never easy, however, in a globalized world that is struggling to recover from a major
economic crisis, they play a vital role to recover the economy, becoming the new core competencies
of corporations, and a company's greatest asset may be its creative capital (Nussbaum 2005). As a
result of that, Start– ups has diversified the trends, identifying and evaluating new business
opportunities, providing to the customer a huge diversity of the...show more content...
Entrepreneurship concerns an individual's ability to turn ideas into action. According to the
definition of WebFinance (2014), Entrepreneurship is the capacity and willingness to develop,
organize and manage a business venture. Pretorius, Millard and Kruger (2005) maintain that
"creativity is clearly part and parcel of the entrepreneurial skills required to successfully start a
venture" (p. 56). Early in the 20th century, Joseph Schumpeter, gave us a definition of an
entrepreneur: a person who destroys the existing economic order by introducing new products and
services, by introducing new methods of production, by creating new forms of organization, or by
exploiting new raw materials ( Bygrave 2011) Creativity is not only important for enterprises;
entrepreneurship has three central underlying dimensions: innovation, risk–taking and proactiveness
(Fillis 2010). The Drucker Society of Austria (2009) suggest that iinnovation is the specific
instrument of entrepreneurship. It is the act that endows resources with a new capacity to create
wealth. Innovation, indeed, creates a resource. Innovation is synonymous with risk–taking, when the
companies perceive an opportunity and create revolutionary product or technologies are taking on
the greatest risk because they create new markets. This classic trait is the definition of
risk–taking––the ability to withstand the fear of uncertainty and potential failure. "It all boils down
to being able

Importance Of Entrepreneurship
Entrepreneurship can be viewed from many aspects. When speaking of entrepreneurship one might
think of Steve Jobs who started a garage business and turned it into a multi–billion dollar company or
one might think of the man opening up a small shop in the neighbourhood. According to Bruce
Bachenheimer, an executive director of the Entrepreneurship Lab at Pace University,
entrepreneurship goes beyond creating a new business venture. "It is a mind–set – a way of thinking
and acting. It is about imagining new ways to solve problems and create value." Entrepreneurship is
defined as the skill of developing and managing a business venture profitably.
The Importance of Entrepreneurship in the Development and Economic Growth
Entrepreneurship is a key stimulus of the economy. It is predominantly responsible for much of the
country's wealth and improving the quality of life in a country. In Eastern Europe it was discovered
that small enterprise development served as one of the most vital factors when it came to the
transitional process which has seen economic growth in the area. Entrepreneurship strives in free
market economies, According to Niewunhuizen C and Oosthuizen TF J in Business management a
contemporary compilation, econometric evidence proves that there is a positive link between
entrepreneurship and economic growth. Schumpeter (1934) visualised the entrepreneur as the key
figure in economic...show more content...
Bill Gates started as one individual a company that today employs more than 100 000 people
worldwide. Entrepreneurs, whilst aiming to achieve more profits by growing their businesses, end
up contributing to society by creating more jobs. Entrepreneurs form a vital part in terms of
community development and job security. A higher employment rate means that the country will
benefit in terms of higher tax

Entrepreneurship Essay
Entrepreneurship There have been numerous attempts to define the traits or characteristics
possessed by entrepreneurs. However, there is low correlation between trait measures and
performance (Chell, 1985). Explain why this may be the case. Peter Drucker (1985) states in his
article, "A Prescription for Entrepreneurial Management", "Leadership does not necessarily mean
bigger; it means being accepted as the leader, recognized as the standard setter. Above all, it means
having the freedom to lead rather than being obliged to follow" . In looking at these definitions it
can be seen that there are many different types of leadership. Several examples might be
transformational, charismatic, and entrepreneurial leadership. Entrepreneurial...show more content...
Entrepreneurial Leadership within Management Success for entrepreneurs requires innovation.
There are several ways to achieve this according to Drucker. Entrepreneurial management first
requires that the organization be made receptive to innovation and willing to perceive change as an
opportunity rather than a threat. It must be organized to do the hard work of the entrepreneur and
create the entrepreneurial climate. It secondly requires systematic measurement—or at least
systematic appraisal—of a company's performance as entrepreneur and innovator, and built–in
learning to improve performance. Thirdly, entrepreneurial management requires specific practices
with respect to organization structure, staffing, management compensation, incentives, and rewards.
Not only is innovation a key factor in the success of entrepreneurial management but, an important
issue that needs to be brought to management's attention; individualism and collectivism within the
corporation. Morris et al., state the following, " Managers and theorists interested in entrepreneurship
must begin to come to terms with the roles of the individuals and the group, respectively, within an
organizational context. These roles are an integral component of the internal environment of the
firm". Drucker (1985) authoring another

Self Reflection On Entrepreneurship
In this assignment I aim to self–reflect on my personal entrepreneurial skill.
According to the Cambridge dictionary self–reflection is 'the activity of thinking about your own
feelings and behaviour, and the reasons that may lie behind them'. Self–reflection is a crucial part of
development, one of the reasons for this is because self–reflection enables you to review yourself. It
then becomes easier for you to evaluate your performance, this can be used to make improvements
for the future.
Entrepreneurship
The Oxford dictionary define entrepreneurship as 'The activity of setting up a business or businesses,
taking on financial risks in the hope of profit.' An Entrepreneur consists of an individual who is both
creative and innovative; I believe an entrepreneur is an open–minded individual; this enables them to
think of creative thoughts and ideas that they can use to set–up their own business/businesses. In
order to put these creative thoughts and ideas to good use they also need to be innovative. The
'Business Dictionary' states that Entrepreneurship is 'The capacity and willingness to develop,
organize and manage a business venture along with any of its risks in order to make a profit.' This
supports the fact that as an entrepreneur you need to be willing to take calculated risks, with the aim
of prospering and therefore meeting aims and objectives. An entrepreneur needs to be able to handle
taking a loss; an entrepreneur would usually learn from this to enhance their skills so that less
mistakes occur in the future.
Self–Reflection is crucial for development (Kolb, 1984)
In my previous education institution, a reflection was undertaken in teamworking. We worked as a
team and set–up a project for a talent show. After we accomplished this we handed out questionnaires
to our audience (to gather feedback on how we performed); we were then able to use the distributed
questionnaire to gather more knowledge and understanding on various methods that we could
improve for the future.
Hobbs and Kolb are authors who have a strong belief in reflecting on your work. As an
entrepreneur this is crucial as it enables you to find any errors that you may have made to then
rectify them. An example of this is when I

Literature Review On Entrepreneurship
Literature review– for course: ICT Entrepreneurship Zhou Ziye(e1101668)
1.An Overview of Entrepreneurship
It is observed that the phrase "Entrepreneurship" has been used in disparate meanings by scholars
around the world. In academic definition, entrepreneurship is the process by which individuals
pursue opportunities without regard to resources they currently control(Stevenson & Jarillo). In
venture capitalist, entrepreneurship is the art of turning an idea into a business(Fred Wilson). In a
simple word, entrepreneurship is the process of designing a new business and start new businesses is
the most obvious example of entrepreneurship. Most researchers would agree with a definition of
entrepreneurship as an activity that involves the...show more content...
Thus there is a need to do this literature review.
2.Entrepreneurship history
a)Middle ages
At that time, "entrepreneur" was used to portray a person who managed considerable production
projects using resources provided by ministry of the country and did not need to bear a risk. Cleric
was a typical entrepreneur in that time.
b)17th Century
During 17th century, risk of entrepreneurship came into people's mind. At that time, a person who
had a constitutional agreement with government to supply desinated product or operate a service
was regarded as an entrepreneur. Entrepreneur need to undertake all the profits or losses since the
bargin price was established. A frenchman named John Law was a famous entrepreneur that time. He
was granted to inaugurate a royal bank. However, the bank developed into a commerce firm
ultimately, that was the Mississippi Company. Another guy named Richard Cantillion got the motive
of legislation and evelved the early theories of entrepreneur which regard entrpreneurs as risk takers,
running with risk by buying at a fixed price and betraying at an uncertain

Explain and critically analyze unique traits of an Entrepreneur, discuss these related to personal
strengths and weaknesses
Introduction
Entrepreneurship is difficult to define throughout its history research. Even nowadays, this concept
is still a debatable point (Rajendra, et al., 2017). Based on four decades of research, Gartner (1988)
concludes that entrepreneurs are founders of new firms. Shane and Venkataraman (2000) consider
entrepreneurship as "a new venture's risk–taking endeavor seeking an opportunity" and Fortunato
(2014) adds innovative value into the concept of entrepreneurship. Thus, research on the definition of
entrepreneurship continue. According to those diverse views, I will interpret six unique
entrepreneurial characteristics and theoretically analyze each one. Risk taker, need for achievement
and proactivity as my strengthens will be illustrated with my experience. Innovativeness, internal
locus of control and tolerance for ambiguity are my weaknesses, thus I will describe relevant
successful Entrepreneurs' experiences.
Strengths
Risk Taking Propensity
Based on Knight's economics view (1921), risk–taking is crucial to entrepreneurism. This view is
supported by many classical theorists like Cantillon and Richard (1755) who explore that
entrepreneurs bear risks or uncertainty to keep supply–demand balance. Phan (2008) also support
this positive relationship and assert that entrepreneurs are risk–takers, not gamblers. However, Bula
(2012) argues that

Innovation, Entrepreneurship, And Innovation
Innovation, Entrepreneurship, and Intrapreneurship 2
INTRODUCTION
Innovation, entrepreneurship and intrapreneurship is bringing your vision, creativity to life while
building something of value that customers are willing to pay for.
Bill Aulet, managing director in the Martin Trust Center for MIT Entrepreneurship at MIT, lectures
on IDEs "innovation–driven enterprises", high growth potential and competitive advantage that
brings new innovations to customers' world–wide. (Aulet, 2013).
Tom Peters teaches the benefits of SMEs "small and medium enterprises" (SME), you don't have to
be in a traditional competitive market, just well understood business ideas, which have a possibility
of failure (Peters, Building a Culture of Innovation, 1999).
Entrepreneur is a chance, to start your own business, with the possibility of failure. Intrapreneurship
is given the financial support of a corporation or large company to have the freedom of innovation,
be creative at no cost.
–––––––––––
Keywords:Business, Creative, Entrepreneurship, Innovation, Intrapreneurship
Innovation, Entrepreneurship, and Intrapreneurship 3
Risks and Benefits of Enterprises
Risks:
Small Medium Enterprises "SMEs" is business or organization that usually starts in a home or small
office, set of clients, depending on annual sales and funded by bank loans or

Entrepreneurship
1
LESSON– 1
ENTREPRENEUR AND
ENTREPRENEURSHIP
Dr. Jyotsna Sethi
STRUCTURE
1.0 Introduction
1.1 Objectives
1.2 Entrepreneurship as a Career Option
1.3 Concepts and Definitions 1.3.1 Entrepreneur
1.3.2 Entrepreneurship
1.3.3 Enterprise
1.3.4 Difference between Entrepreneur and Entrepreneurship
1.4 Role of Entrepreneurship in Economic Development
1.4.1 Entrepreneurship and Economic Development
1.4.2Entrepreneurship and Education
1.5 Functions of an Entrepreneur
1.6 Innovation
1.7 Risk and Uncertainty Bearing
1.8 Organization
1.9 Functions Performed by an Imitator Entrepreneur
1.10Entrepreneur vs. Manager Relationship 1.11 Summary
1.12...show more content...
This book will help you to understand the process of setting up a small business, running it
successfully and seeing it grow. And let us remind you that this career opportunity is not only for
boys but also for girls – all those girls who think smart, are ready to act and script the story of their
own life – like Shehnaz Hussain or
Ritu Kumar or Kiran Majumdar Shaw.
1.1 OBJECTIVES After going through this lesson you should be able to:
Inculcate the Desire to take up Entrepreneurship as a Career
Differentiate between Wage employment, Self–employment and
Entrepreneurship
Define and know the Meaning of the terms Entrepreneur,
Entrepreneurship and Enterprise
Learn about the Functions performed by an Entrepreneur
Understand the Role of Entrepreneurship in Economic Development
Differentiate the roles of an Entrepreneur and a Manager 1.2 ENTREPRENEURSHIP AS A
CAREER

OPTION
After finishing your graduation you will be at the crossroads of life. You will face the dilemma of
choosing what you have to do in life. The vast majority of human beings direct their activities
towards earning a living, generating wealth and improving their standard of living. You can choose
your career from two broad categories of options – Wage Employment or Entrepreneurship. The term
'career' signifies a continuous, ever evolving, ever expanding opportunity for personal as well as
business growth

The Importance Of Entrepreneurship
More than ever before, entrepreneurship is trending. If you log onto any social media platform, you
can't scroll for long before running into a small business owner's advertisement for their latest
product or service. While there are many people who are starting small businesses, most of them
won't experience exponential growth. According to statistics, eight out of ten small businesses fail
within the first 18 months. Being an entrepreneur isn't an easy feat and requires a lot of personal
mindset development. In order to become a better entrepreneur, take a look at gurus like Shark
Tank's Kevin Harrington. He has experienced and seen a lot within his career that showed him the
keys to great entrepreneurship. Consider these quotes whenever you feel a pang of discouragement.
1. "Always look to do business with people you would happily invite to Christmas dinner!
As an entrepreneur, you have the pleasurable responsibility of making all the decisions. These
decisions include who comes on to the team as an employee. When it comes to the hiring process,
it's best to develop a criteria of hard skills and soft skills that your employees possess. When your
employees have certain soft skills like a positive attitude, self–confidence and the ability to be a team
player, it makes it so much easier to work and enjoy your team. Develop a team that you genuinely
enjoy because it'll make your work experience ten times better. Take a page out of Shonda Rhimes'
book. She learned this lesson the hard way after dealing with difficult employees on the show Grey's
Anatomy. Because she did an excellent job of screening everyone for the hit show, Scandal, she
didn't meet that problem again.
2. "Act now!"
Time is of the essence. Even if you can make major moves within the company immediately, still
make arrangements and baby steps toward the right direction. So often, people stay stagnant
because they're not proactive. Procrastination is a major issue for many people who don't reach
their goals. Whether they procrastinate due to lack of funds or tons of fear, it gets in the way of
really achieving momentum. As soon as you get a great idea to implement in your company, create
a strategic plan and get the ball rolling with an

Essay On Entrepreneurship Education
Entrepreneurship education has been lauded as being able to create and increase awareness as well
as promote self–employment as a career choice among young people (Clayton 1989; Fleming 1996).
The objectives of entrepreneurship education are aimed in changing student's state of behaviours and
even intention that makes them to understand entrepreneurship, to become entrepreneurial and to
become an entrepreneur that finally resulted in the formation of new businesses as well as new job
opportunities (Fayolle and Gailly 2005; Hannon 2005; Venkatachalam and Waqif 2005). These day,
many graduates are unable to get a job upon graduation. Students are now apparently searching for a
business education that can help them with the necessary entrepreneurial...show more content...
There are various entrepreneurial education scope and structure among higher education in Malaysia.
Entrepreneurship education in university of Northern Region in Malaysia seeks to provide students
with the knowledge, skills and motivation to encourage entrepreneurial success in a variety of
settings in the future job searching. Variations of entrepreneurship education are offered at all levels
of schooling from primary or secondary schools through graduate university programs. This research
aiming, entrepreneurship education is treated as it has been broadly used and applied by most
Northern Region of Malaysia universities. The establishment of the Ministry of Entrepreneur
Development in year of 1995, clearly indicates the growing importance of the government role on the
issue of entrepreneur development (Ariff & Abu bakar, 2005). Entrepreneur education is a factors
that affect the activities of entrepreneurship among university student in northern region of Malaysia.
Thus, Entrepreneurship education has been used as one of the most effective ways to promote the
transition of graduates into the world of

The Benefits Of Entrepreneurship
Many people know from a very young age that the workplace setting is not a good fit for them.
These people create and operate their own business and they are then known as entrepreneurs and
not employees. Just about anyone can become an entrepreneur. Any individual with as little as $100
can be a business owner. No matter your background anyone can become an entrepreneur. One
entrepreneur who we are all familiar with goes by the name of Oprah Winfrey. Oprah Winfrey
had a rough upbringing and was even fired and is to this day the richest African American of the
21st century. She has a net worth of over $3 billion, she is without a doubt an entrepreneur success
story. A few other entrepreneurs that we are all familiar with are Walt Disney, J.K Rowling, Steve
Jobs and Bill Gates just to name a few.
With the freedom that entrepreneurship provides, it makes no sense to work for someone. Research
suggest that being an entrepreneur is preferred over the average nine–five job because it's more
flexible, allows more freedom, Fast retirement, and No Boss.
Entrepreneurship comes with many benefits. One of those benefits is the flexibility that it allows
an individual to have. Time is very precious and something we can't get back. So, why allow
someone to tell you what to do with 40 hours out of your week? In a traditional work setting you
are told when you can eat and when to get back to work. That may be flexible for the employer
but not so much for the employee. Entrepreneurs start and stop working when it is convenient for
them and not an employer. They are not always on the same repetitive time schedule every day.
Every day is new in the life of an entrepreneur. You wake up when you want and sleep in if you
like. Being an employee, you don't have the option to wake up when you want. You are on the
companies schedule to fit their needs. If an employee tried to work based on an entrepreneur
schedule they would end up jobless. Flexibility is a plus to an entrepreneur because not everyone is
a morning person.
Some people think better when they do things on their own time. Flexibility is very important to an
individual who has or would like to start a family. Families require a lot of attention. Without

Entrepreneurship is a topic that is heavily debated in regards to if it can be taught or not. The word
Entrepreneurship originates from a French word that means to undertake. In the business sense, it is
defined in the Merriam–Webster dictionary as one who organizes, manages, and assumes the risks
of a business or enterprise. Since entrepreneurship is an appealing career path, people want to know
if they can be taught it or if it is something they have intrinsically. The objective of this essay is to
discuss that entrepreneurship is something that cannot be taught as some individuals believe, as one
needs to have the drive to be an entrepreneur, real world experience is necessary to succeed as an
entrepreneur and the economy is highly fluid and hard to keep up with.
In order to even have a chance at being a successful entrepreneur, one must have the drive to
succeed which appears to be unteachable. In order to master anything in life, an individual needs to
be invested in what they are doing and persevere even when they feel like giving up. This is backed
up by (Hegarty 322–335) "entrepreneurial education and skills training can improve success but it is
doubtful if it will contribute significantly if a natural entrepreneurial flair does not exist" (pg 323). In
("Can Entrepreneurship Be Taught?", 2016) it states that "Failures and mistakes are an
inevitable–and, indeed, valuable–part of an entrepreneur 's education". The same is in
entrepreneurship, not all those that set

The Importance Of Entrepreneurship
An overwhelmingly large number of businesses in the United States are small, with about 89%
staffed with less than 20 employees according to the 2014 U.S. Census. These businesses have one
or two owners, a limited number of employees, and are the epitome of the "American Dream."
Entrepreneurship is a vocation admired by people of all ages and backgrounds, from middle–class
children watching Shark Tank with their parents to the grown–up children of immigrants who
establish their lives in the States by perhaps opening their own restaurant or hair salon.
Entrepreneurship is practically synonymous with "opportunity," as people look to the likes of Bill
Gates and Jeff Bezos who achieved explosive success thanks to one brilliant idea. However, starting
a small business is not as easy a task as some may believe. In today's competitive business
environment, more than just passion and a good idea are necessary for success. It takes tremendous
energy, confidence, resilience, and knowledge to start and maintain a business. Additionally, most
entrepreneurs need funding, a network, office space, accountants, and lawyers to ensure that their
business will take off. With a belief that the opportunity to be an entrepreneur should be available to
people of all backgrounds, Tayiib Smith and Meegan Denenberg of Little Giant Creative, based in
Philadelphia, PA, created the Institute of Hip Hop Entrepreneurship to teach young people of color
invaluable lessons about entrepreneurship and the

Essay on Entrepreneurship and Success
I believe that being Entrepreneur is an American dream; who would not want to choose their own
hours and have a successful business that they could leave behind as a legacy? I also believe that
they are very few people that have the skills and qualities to be successful at achieving
entrepreneurship; this is partly due to many Entrepreneurs lacking the skills to build around their
vision. I thinks that's why some people believe that entrepreneurs are born and not made, for it is
indicated in our assigned reading Entrepreneurship 8th Edition, that the working definition of
acquiring and maintain Entrepreneurship is described as ""Entrepreneurship being in the process of
creating something new with value by devoting the...show more content...
None of my successes would have been possible without my family." (News week 2008, Vol. 152)
Lisa price like myself is an African American female who want to find success in providing
products and services to her community and her culture. Lisa also constantly mentions that her
mother is her role model which is why she named her products line "Carols Daughter's. "Lisa Price
began her business by hand–mixing personal care products for women of color in her Brooklyn,
N.Y., kitchen in 1994. Along with marketing guru Steve Stoute, Price annual sales was said to
exceed $30 million. Two years after signing an investment deal with a group of Hollywood's
brightest stars – including Will Smith, Jada Pickett Smith and Shawn "Jay–Z" Carter – the brand
now has freestanding locations from coast to coast, a booming business at Sephora and has
entered Macy's. Now the brand has upped the ante considerably by tackling the highly competitive
and financially problematic world of color cosmetics. (Naughton, 2007 Vol. 194, pg. 5) Just by
reading Lisa Price BIO, I believe that Lisa Price possess several special characteristics that makes
her a successful entrepreneur , such as:
1.She recognized early on that she needed to work hard and long hours.
2.She proceeded to use resources and connections

Impact Of Entrepreneurship
INTRODUCTION: Global development is inflowing a phase where Entrepreneurship will gradually
play an important role in the economic development. Entrepreneurship has been gaining power from
the past decades. In the present scenario, Entrepreneurship was influenced by many factors like
social, cultural, economic, political and etc (BrajaballavKar, Dr.RamakantaMishra, &
Dr.JitendraMohanty, 2014). Among all other factors the impact of socio cultural factors in the
economy was large. Mostly in the developing countries like India the socio cultural factors play an
important in influencing entrepreneurship. Most of the studies have concentrated on the economic,
social dimensions of the entrepreneurship none of the study reveals the socio cultural...show more
content...
Sociologists say that socio cultural status of entrepreneurs, family, caste and religion play an
important role in the socio cultural entrepreneurship. They conclude that socio cultural diversity,
social acceptance, socio cultural support for entrepreneurs, socialization, socio cultural environment,
family relations and support, social attitude play an important role in the socio cultural
entrepreneurship (DharmendraKumar, 2014). Rahma (2014) in his article "socio cultural factors
influencing entrepreneurship activities: A study on Bangladesh" say that religion, family, education,
socio cultural features, poverty, gender role values, peer group influence to be an entrepreneurs,
political instability play an important role in the socio cultural entrepreneurship. They concluded that
this socio cultural factors influence on entrepreneurship will be positive or negative based on the
society (RahmaAkhter & FrahanaRahmanSumi, Socio–Cultural factors infleuncing entreprneurial
activities: A study on Bangladesh,

The Concept Of An Entrepreneurship
The definition of an entrepreneurship is a commonly argued point, with several definitions given by
many different people. The Business in Action textbook defines entrepreneurship as the combination
of innovation, initiative and willingness take risks required to create and operate new businesses and
an entrepreneur as a person with positive, forward–thinking desire to create profitable, sustainable
business enterprise. According to this definition, a small business owner could definitely be classed
as an entrepreneur, as anyone who runs and owns their own business is taking risks with their
finances every day of trading. However, this definition is not enough because it only shows one trait
of the entrepreneur 's personality and behavioral patterns, which, according to most other sources,
does not give the whole picture. 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. In other words, it is a competitive option that
requires risk–taking, research, good resources, and detailed innovation if you expect to be
successful. 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. This means that you need to be a leader willing to take risks in order to see ideas

Entrepreneurship Is A Way Of Thinking Essay
"Entrepreneurship is a way of thinking, reasoning and acting that is opportunity obsessed, holistic in
approach and leadership balanced. Entrepreneurship results in the creation, enhancement, realisation
and renewal of value, not just for owners, but for all participants and stakeholders," (Timmons and
Spinelli as cited in Tweed, 2011, p.68). In this essay this will be the definition that will be used
throughout. For decades' academics and scholars have debated whether entrepreneurship can be
taught to those willing to learn, or if those individuals are just fortunate to have the innate traits to
become a successful entrepreneur. Because of this, many theories and definitions have appeared
based on the actions, attributes and skills that past entrepreneurs possessed and present entrepreneurs
currently hold. This essay hopes to argue that an individual cannot simply be taught
entrepreneurship. This will be done by covering why entrepreneurship cannot be taught, how some
aspects do help, and why you cannot develop an entrepreneurship mind–set.
This first paragraph looks at why entrepreneurship cannot be taught. When looking at those
educational institutions that offer entrepreneurship courses around the globe, not all courses are
identical, but many have developed ones that largely focus on developing entrepreneurship skills
and the understanding that comes along with it. However according to Hirsch and Peters (as cited
by Henry, Hill, Leitch, 2005a), they have compiled a list

Why I Am A Entrepreneur Essay
At the beginning of the course I had only had basic entrepreneur knowledge, I understood the traits,
and the amount of thought put into a business. I understood a entrepreneur needed to be able to set
goals and had to establish connections and business partners. I was actually lucky enough to have
taken a entrepreneur class in highschool. Which taught me lots on how an entrepreneur business is
started. It also taught me the required determination and hard work it takes to be a entrepreneur.
What I didn't learn from my highschool class is how to properly set goals. I didn't know that
there was a process and I didn't realize how helpful it is writing down goals and physically seeing
them. I was able to learn S.M.A.R.T goals which helps you structure your goals to a achievable
standard. I also learned the different types of goals like long term, short term, and immediate. I learn
how important goal setting can be and how it helps you better achieve them.
I also got to learn about the skills and characteristics of a entrepreneur. You need lots of traits to be
a entrepreneur. You need to be able to be flexible and self
–reliant, be able to structure yourself is
very important. You must be confident and be able to take risks, being an entrepreneur means
knowing when to take action and when not too. You have to have traits like patience and creativity,
a entrepreneur must be able to be resourceful and must be able to see problems when they occur.
You have to be able to work

Entrepreneurship Essay

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