Entrepreneurship: Success, Success And Success In Business

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Every entrepreneur endeavours to carry out their business venture with an expectation of achieving profit, success and competitive advantages in business arena. So, in order to define the term “entrepreneurship” it refers to such an individual who comes up with innovative and creative business ideas by which he or she can earn economical benefits from capital market (Baum et al 2014). Therefore, entrepreneurship is a process of evaluating effective ways by which an entrepreneur can easily combine the resources with market value, and that will be beneficial for the entrepreneur to gain huge success and profitability in business. Moreover an entrepreneurship also refers to such business activities which can create both monetary as well as non-monetary benefits for an entrepreneur. According to (Bohari et al 2013), an entrepreneur is a person who has the…show more content…
During the inception of any business, an entrepreneur has to face risk, perils which may arise from the market environment. In fact, while an entrepreneur tries to get into a new business, he or she cannot be assured that whether his business plan is effective and potential enough to gain profit or not or whether he or she may end up his business by losing all personal equity. So, innovation, creation in business strategy and execution of plan in an effect manner is important and essential for an entrepreneur through which he or she can earn business success and profit by avoiding any kind of potential business challenges (Carland et al 2015). Development of new business ideas and business strategy on the basis of a through market survey and based on the market demand, modification of the existing business ideas can be a best possible way for an entrepreneur to gain ultimate business success and competitive advantages in market (Frow et al
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