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Role of entrepreneurship in society
Role of entrepreneurship in society essay
Entrepreneurship concept and definition
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(a) Definition of entrepreneurship.
Entrepreneurship is defined as being able to develop a business from ground to up, creating new ideas that will be part of a profitable business (Brooks, 2015). It is also the willingness or the capacity of an individual to develop, manage or organize a business along with its risk that the business would fail in order to produce profit. An entrepreneurial spirit of a business man can be described as the ability to take risk and being an innovative fellow. (Business Dictionary, 2015). Having a spark of creativity and a passion to change the world in a person’s view point without considering how hard it may become. Being able tackle new stuff without any hesitation due to the risk in failing. Sees the risk
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It is the case where sometimes, entrepreneur has no intention of gaining personal profit of some kind. Having the passion of serving the people while using the guidelines of having a business like innovations and its discipline (Dees, 1998). Entrepreneurship acts as a change agent to an organisation by developing new ideas or innovation that can help the support system and creating solutions that will solve social problems.
As for the Heart Foundation, entrepreneur’s that are truly concerned with the welfare of the people of New Zealand had develop ways in order to support the funding’s of the organisation. By developing new ideas or innovation such as using the internet, they develop the Heart Foundation lottery where people can win prizes with the amount of 15 dollars. Donators of the program can help fund the organisation while having a chance to win prizes. An online shopping account was also created so that people can buy stuff which can greatly help the organisation. They also developed the Go Red for Women, it is a program that encourages and empower women to take their stand in taking care of their heart’s health. Raising awareness for the women of New Zealand is the task of the program. It also encourages people to donate in order to fund researchers that tackles
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Whereas the change will only be effective if traditional standards and beliefs will be revise, reinterpret the current standards and devoting to new ideals. In most part, majority of people do what they think they are suitable with and stay on it or in other words people will just go on with the majority. The technique here is to find out how to implement and explain the movement of the standards. The focus in here is more on appealing and active guidance. In relevance to the management of the heart foundation, they do involve women in all aspects in the society in regards to age, status in society, ethnicity and etc. to be active participants in heart health awareness, unlike the beliefs from the past that heart disease is for men. Definitely, the organisations put up more a wider scope of services to accommodate more people who are in need of services. Another sample of change from the organisation is by reaching and involving women in most isolated areas in the country to be a huge part of the campaign and services so to avoid disparities (Nickols,
On the one hand, Gayle’s strategies seem to find a focus and concentration for the CARE because fighting against global poverty could be too broad and too ambiguous. Moreover, Gayle’s strategic plan seems very comprehensive and ambitious to lead the CARE to become a global organization. However, on the other hand, as they decided to focus on women and girls, people may question what about men and boys, which might result in a gender discrimination issue for the organization. In addition, although the organization is growing, it should not forget its initial intention, which is the direct mailing campaign. Finally, Gayle should be really cautious if she wants to further develop the organization. As the brand and reputation is so fragile, too much ambition might have adverse
An entrepreneur is a person who is a special talent for searching out and taking advantage of new business opportunities, as well as developing new products in a new way of doing
This charity helps a lot of people. According to the CDC, “Every year 610,000 people die of heart disease, heart disease is the leading cause of death between males and females.” A large percentage of the American population is affected, according to American Heart association,”Nearly half of all African-American adults have some form of cardiovascular disease, 48 percent of women and 46 percent of men.” Heart disease affects a big portion of the population and the charity often does events to help support every person being affected. American Heart
Another strategy for start-ups to follow during recessionary environment is a “Lean start-up” strategy (Singh et al., 2009). Many start-ups do not manage to survive because they spend a lot of money and time trying to produce products that customers might not need or like and therefore will mathematically drive the company out of business. This is what professor of HBS, Eisenman (Nobel, 2012). Ries, 2011, said; “startup success is not a consequence of good genes or being in the right place at the right time. Startup success can be engineered by following the right process, which means it can be learned, which means it can be taught”. The methodology on start-up businesses is all about avoiding waste in terms of money and time. A good example is through the Toyota Production System (Dennis 2002).
There has been a large amount of attention paid to the subject of entrepreneurship in the last few years; mainly because most people have chosen to go from working for somebody else, to be their own bosses and work for their dreams. Nevertheless, many still wonder what is entrepreneurship and what is that sets entrepreneurs apart from other regular business owners. At first, it seems both concepts do not differ much from each other since they both start up and run businesses and assume risks to pursue opportunities; however, there are certain traits that difference them.
Apparently, it seems that Bangladesh enjoys too much ‘Freedom of Press’ as because growing numbers of digital media ventures are being instituted day by day. It’s a good sign in perspective of commercial entrepreneurial belongings. Conversely, sometimes it hinders accuracy of information and standard of News as the new media entrepreneurs are tailored by newly introduced professionals who don’t have much experience or less savvy of digital journalism. And obviously, my concern is on later one viz the single entrepreneur, startup and small & medium scale Media enterprises.
Entrepreneurship - a special kind of activity. Its constant conditions are limited resources, competition and uncertainty of the situation. The main tools of the entrepreneur are: thrift, cooperation and innovation. Consequently, enterprise is the independent economic entity, with rights of a legal entity, which is based on the use of labor collective property produces and sells products, works, and provides services.
Nowadays, entrepreneurship becomes most popular career, where our government encourages our graduated student to involve in business so that unemployment will not happen in our country. Policymakers, academics, and researcher agree that entrepreneurship is a vital route to economic advancement for both developed and developing economics (Zelealem et al., 2004). Entrepreneurship has many types for example small business and others. Today small business, particularly the new ones, is the main vehicle for entrepreneurship, contributing not just to employment, social and political stability, but also to innovation and competitive power (Thurik & Wennekers, 2004).
The success of a business is greatly dependent on its entrepreneur. An entrepreneur is someone who takes the financial risk of starting and managing a new business venture. In order to be a successful entrepreneur, one must be ready to take a risk and invest one’s own savings into a business. The job requires that the individual be ambitious and committed to working hard in order to achieve the set targets. A successful entrepreneur is able to multi-task and communicates effectively with people, possessing leadership qualities such as confidence and motivation. The individual must play the role of constant motivator and inspire employees to improve their work performance, whilst ensuring a comfortable environment for the employees to work in. According to Schumpeter (1982), an entrepreneur is more of a ‘heroic’ than an ‘economic’ figure; his motivation should not solely be monetary, rather stemming more from inspiration and ambition.
Many people dream of becoming entrepreneurs someday. But it made me realize that there other factors that needs to be taken into consideration. We need to ask ourselves are we ready to take the challenge to the outside world. Not everyone have the vision, innovation and creativity to become an entrepreneur. The individual must have a positive attitude and accept the responsibility, have discipline to meet their goals, and take action when the opportunity presents itself. Many prefer a job security and rely on a weekly paycheck, while entrepreneurs will take risks and doesn 't have that luxury to know the amount of their income.
Entrepreneurship is an important aspect of social, economic and community life. It can be viewed as a critical factor to economic growth as well as a way of addressing unemployment (Nolan, 2003).Entrepreneurs are people who are persistently focused on identifying opportunities, they seek to create something worthwhile while taking into account foreseeable risk and rewards associated with the efforts (Nolan, 2003). Furthermore, entrepreneurs are frequently understood to be individuals who discover market needs and establish new business to meet those identified opportunities. The following assignment will firstly discuss the types of entrepreneurship, secondly it will discuss the reasons people become entrepreneurs, and thirdly it will discuss the importance of entrepreneurship.
The first definition on entrepreneur was simply someone who invented something. Eventually, it turned into someone who owned a business. But the best definition, the one used most often today, is someone who organizes, manages, and assumes the risks for a business or enterprise. This shows that not only does a person "invent" something, but that they see the opportunity and build a business around it. An entrepreneur has a vision and builds around this vision.
An entrepreneur is someone with the capacity to lead a business to success and is willing to take the risks in order to accomplish their goals. (Dollonger, 2002). Starting a new business is an example of entrepreneurship. Entrepreneurs are very important in order for any business to succeed, however, only some entrepreneurs will succeed in life. Here are some of the characteristics of successful entrepreneurs.
The path to achieving great success is not easy. Whereas there are many shortcuts, the long and patient walk is what takes a person many miles ahead. This concept applies to any individual who aims at becoming a successful businessman. The process of becoming a successful businessman requires a person to attain several accomplishment levels. Each of the level takes energy and time, as well as the ability to recognize the things that make a person truly successful in the business world and life. Becoming a successful businessman requires measurements that take into account not only the monetary and material gains but also the greater scheme of things. Therefore, true success measure achieves in light of creating wealth and value. These factors are vital in the lifetime of success as they present an intangible worth and measurable profit. This essay discusses the way a person can become successful as a businessman.
Being an entrepreneur, is advanced citizenship, you have to want it real bad. Entrepreneur is not entitlement. Being an entrepreneur is a life commitment. Like in the movie Wall Street, a famous line was "You can 't be a little bit pregnant." The fact is you can 't be an on again, off again entrepreneur.