Entreprenurship Definition Essay
explanatory Essay
1560 words
Women are weighing the importance of economic contribution they make to the household. The actual count of economically active married women is much more than aggregate level data would indicate.
The great change had taken place when the machines were brought into use. Women were employed in factories.
1.4 Meaning and definitions of entrepreneurship
There were different definitions given by different authors tried. Some of the definitions are given below.
According to Ponstadt (1998)
Entrepreneurship is the dynamic process of creating incremental wealth. This wealth is created by individuals who assume the major risks in terms of equity, time and/or career commitments of providing values for some product or service. The product or service may/may not be new or unique but value must be infused by the entrepreneur by securing and allocating the necessary skills and resources.
Furthermore, Timmons (1989) defined it in such a way that:
Entrepreneurship is the process of creating and building something of value from practically nothing. That is, it is the process of creating or seizing an opportunity and pursuing it regardless of the resources currently controlled. It involves the definition, creation and distribution of values and benefits to individuals, groups, organizations and society. Entrepreneurship is very rarely a get rich-quick proposition (not short term); rather it is one of building long term value and durable cash flow streams.
1.5 Women Entrepreneurship
Women’s productive activities especially in industry empower them economically and motivate them to contribute to overall development of economy. Whether they are working in formal or informal sector or in small or med...
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The target people of this study was very small, small and medium-sized women-owned businesses in NCR. A convenient sample was used, to identify women-owned businesses to participate in this study. To create a list of women-owned businesses, well-known women-owned businesses in these regions were contacted. These women informed and identified other potential women-owned businesses to include in the sample. The women-owned businesses were then contacted to participate in the study. A list of 30 women-owned businesses willing to participate in the study in the NCR was compiled as a result of these efforts.
Data collection
Questionnaires were delivered by hand to the women-owned businesses listed on the database.
Primary data-
Collected from personal interviews and the questionnaires
Secondary data-
Collected from
Various newspapers
Journals
Magazines
In this essay, the author
- Explains that there were different definitions given by different authors tried. some of them are given below.
- Explains that entrepreneurship is the dynamic process of creating incremental wealth by individuals who assume the major risks in terms of equity, time and/or career commitments of providing values for some product or service.
- Explains that entrepreneurship is the process of creating and building something of value from practically nothing. it involves the definition, creation and distribution of values and benefits to individuals, groups, organizations and society.
- Explains that women entrepreneurs have grown across the world over the last decade and the rural economies have been affected the most. however, this does not mean that the problems are solved.
- Explains that access to finance is the major issue faced by women entrepreneurs. women face lesser opportunities than males to gain credit for various reasons.
- Opines that knowledge and contacts are needed to enter into new market. women have less training and experience to participate in the market place and are therefore unable to market goods and services simultaneously.
- Explains that women have very limited access to vocational and technical training and education, and the skills can only be developed if they have strong elementary and secondary education.
- Explains that women have less contacts in business, less knowledge of dealing with government officials, and less power to bargain, which limit their growth. most networks are male dominated and at times do not welcome women.
- Explains that women's lack of access to information limits their input into policymaking. large companies and male dominating nature can influence policy.
- Explains the main objective of the study is to study women entrepreneurship in ncr and make comparative analysis of entrepreneurs of two industries and practical recommendations to stimulate the growth and success of women entrepreneurs.
- Explains the study of women entrepreneurship in ncr based on a structured questionnaire in two industries ( textile and cosmetic).
- Explains that the research is descriptive in nature. the secondary data is collected from past researches.
- Explains that questionnaires were used to gather data regarding the biographical information of the participating women entrepreneurs, the structure of their businesses, motivational factors for starting their business, obstacles that they are currently experiencing, and their support and development needs.
- Explains that a convenient sample was used to identify women-owned businesses to participate in the study.
- Explains that women are weighing the importance of economic contribution they make to the household. the actual count of economically active married women is much more than aggregate level data would indicate.
- Opines that women's productive activities in industry empower them economically and motivate them to contribute to overall development of economy.
- Explains that some news articles are based on published research, either in terms of the statistics that are used or the nature of women entrepreneurs and the types of business.
Related
- explanatory
- opinionated
- analytical
- comparative
- argumentative
- Essay On Entrepreneurshipexplanatory essayMeaning of Entrepreneurship According to John Kaso and Howard Stavenson, “Entrepreneurship is the process that involves all actions an entrepreneur undertakes to establish an enterprise to give reality to his business ideas. It is the attempt to create value through recognition of business opportunity, the management of risk-taking appropriate to the opportunity and through the communicative and management skills to mobilise human, financial and material resources necessary to bring a project to fruition.” According to Higgins, “Entrepreneurship means the function of seeking investment and production opportunity, organising an enterprise to undertake a new production process, raising capital, hiring labour, arranging the supply of raw materials, finding site, introducing a new technique, discovering new sources of raw materials and selecting top managers for day-to-day operations of the enterprise.”
In this essay, the author
- Explains john kaso and howard stavenson's definition of entrepreneurship, which involves all actions an entrepreneur undertakes to establish an enterprise to give reality to his business ideas.
- Explains higgins' definition of "entrepreneurship" as the function of seeking investment and production opportunity, organising an enterprise to undertake a new production process, raising capital, hiring labour, and arranging the supply of raw materials.
- Explains that entrepreneurs are innovators who use the process of shattering the status quo to set new products and services. they have vision, originality of thought and ability to take risks.
- Explains that nagavara ramarao narayana murthy, co-founder of infosys limited, was born on august 20, 1946 in a brahmin family of mysore.
- Narrates how murthy was a brilliant and popular student who always stood first in the class. he enrolled for the bachelor of electrical engineering course at the national institute of engineering, university of mysore, and then joined iit kanpur to do his m. tech.
- Narrates how murthy took up the biggest technical challenge of the day in the emerging field of computer science. he joined the indian institute of management, ahmedabad as its first chief systems programmer in 1969.
- Narrates how murthy found that prime minister indira gandhi had declared emergency and the environment, especially for business, was unwelcoming and hostile. he started system research institute (sri) in 1975 with one of his college professors to improve cargo movement and handling at airports.
- Narrates how murthy left sri and moved to mumbai to join patni computers systems (pcs) as a general manager in 1977. he married sudha and set up his first home in mumbai in bandra.
- Explains that murthy and his six friends wanted to start a software company which would develop software for foreign clients and offer offshore computer services.
- Narrates how murthy borrowed money from his wife sudha to start his venture, and when she counted her savings, she found that she had just the much needed money to finance the venture.
- Explains that murthy and his friends resigned from their jobs at patni by the end of 1980 but finished all their tasks before leaving.
- Explains how murthy and his six colleagues came together in a 120 sq. ft. apartment in pune to give their dream – infosys. they had each other, the support of their wives, determination and positive attitude.
- Describes how murthy started infosys in 1981, but his first computer was installed only in february 1984. they worked out a time-sharing deal with mico on the basis of which anz grindlays bank refused to give them loan.
- Explains murthy's rules for making infosys a world-class company and to gain foothold in foreign markets. his first rule was that the software written by them should fulfil the requirements of the clients.
- Explains that india's economic scenario was hardly favorable to a rapid rise of the information technology industry.
- Narrates how infosys was on the brink of bankruptcy in 1989. five of the seven founders met in 1990 and decided to sell for $1 million. murthy offered to purchase the company from other partners.
- Opines that murthy's vision was to create wealth for all stakeholders, but rapid growth of the organization was the only way.
- Concludes that it is never easy to start a venture and to carry on with it with the same passion. according to burns, many people thought about establishing their own business in their lifetime, but only few took the risk to make their dream come true.
- Opines that if one has a vision, mission, positive attitude, and the most important part support from the family side, he can create successful new venture.
1808 wordsRead More - Entrepreneurship is a field that is new in theory but slowly getting acknowledged by both society and academically. People still don’t value the importance and impact entrepreneurs have in our life. Entrepreneurs create jobs, have their own personalities, and is a field being taught by top universities, even though it is still not a complete course. In the near future, top universities will have mastered and completed an effective course about entrepreneurship. Also, we need to begin spreading the word on what it takes to be an entrepreneur and how they provide us with opportunities on finding future jobs and careers. The stereotype about entreporeneurship will start to dissapear once people begin educating themselves through experience and education on what it takes to be an entrepreneur.
In this essay, the author
- Analyzes the lack of good entrepreneurial courses in most colleges, citing an online article by bryan tracy.
- Explains that entrepreneurship is a field that doesn't necessarily require all entrepreneurs to have the same level of education.
- Explains that entrepreneurs create opportunities for employment, wealth, and culture. steve jobs changed the american culture by introducing ipods, iphones and ipads.
- Explains that wisegeek believes that entrepreneurs are innovative exterminators because they are always trying to change and innovate a business’ management.
- Explains wisegeek's view that entrepreneurship is a jeopardy game. entrepreneurs can define how much "risk" is enough to learn from their mistakes and gain experience.
- Explains that entrepreneurs need to master certain personalities that would eventually help them succeed. imagination is the key success to any idea; creating a business would require another person's impulsive imagination.
- Opines that entrepreneurship offers the opportunity for many people to become their own bosses and create a lifestyle, but many believe that it has limitations for those who don't have the financial resources to create or open their business.
- Explains kuratko believes that anyone with or without a degree in business can become an entrepreneur.
- Explains that heiko believes that implementing new programs that are proven to work would have a better impact on entrepreneur students than the impact it has with just teaching them with theory.
- Opines that the stereotype about entreporeneurship will dissapear once people begin educating themselves on what it takes to be an entrepreneur.
1319 wordsRead More - John Deereanalytical essayThe world is filled with many ambitious people looking to make a product to help the world and make a living for themselves and their families. These people are known as entrepreneurs. An entrepreneur is someone who organizes and operates a business or businesses while running the risk of losing everything to make money. One might ask why there is a risk ...
In this essay, the author
- Explains that every entrepreneur has a dream for an invention or business that will be successful and change the world. john deere invented the steel plow in 1836 to help america expand and develop.
- Explains that an entrepreneur is someone who organizes and operates a business while running the risk of losing everything to make money.
- Analyzes how john deere's steel plow helped farmers produce more crops and send them to big cities and developed america.
- Explains how john deere's steel plow was able to increase production and increase the area a farmer could plant and harvest.
- Explains that john deere was a great entrepreneur, making implements that appealed to farmers. charles, who assumed the business after his death, developed the waterloo boy tractor.
- Explains that deere & company, started in grand detour, illinois, and is now the leader in agricultural equipment worldwide.
1280 wordsRead More - Entrepreneurship Essayopinionated essayEntrepreneurship - 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.
In this essay, the author
- Explains that enterprise is an independent economic entity with rights of a legal entity based on the use of labor collective property.
- Explains that the personnel office does not play a significant role in the company's operations, but it occupies an important position in its functioning.
- Explains that management is the ability to achieve goals, directing effort and intelligence of workers and creating motivation for the behavior of people working in the organization.
- Opines that management, its competence and its effectiveness, a few decades will be crucial for both the united states and other countries of the free world.
- Explains that indefinite duration of «cold war» has imposed severe restrictions on the economy, which could only be saved by lasting economic growth.
- Explains that the united states is one of the world leaders in both economic and social development. management effectiveness gives crucial and yet at the same time complicates its practical aspects.
- Opines that management should always be focused on providing cost-effective enterprise. the existence of management and power is justified only if it provides the required economic results.
- Argues that if management does not ensure the achievement of certain economic results, its activities should be recognized as ineffective.
- Explains that management follows the first definition of management: an economic body, or rather, exclusively economic society. the first measurement of each action, decision, and management considerations is the economic dimension.
- Opines that management remains the least studied and poorly understood institution of modern society. employees of enterprises often do not understand what their managers do, how to manage their company and why it is carried out so.
- Opines that management is a special organ of the enterprise, and that it sets it apart from other governing bodies of all other public institutions.
- Opines that the market economy makes the qualification of managers demanding. the most important function of senior management organizations becomes the development and implementation of effective structure oriented to criteria.
900 wordsRead More - Entrepreneurship Case Studyanalytical essayEntrepreneurship has taken diverse views since its discovery in commerce. People had varied notions as to what it entails and the characteristics an individual needs to have to be called an entrepreneur. The concept of entrepreneurship is seen as the process of uncovering and developing an opportunity to create value through innovation and seizing that opportunity without regard to either resources (human and capital) or the location of the entrepreneur – in a new or existing company (Churchill, 2003). Entrepreneurship is the willingness
In this essay, the author
- Explains that entrepreneurship is the process of uncovering and developing an opportunity to create value through innovation and seizing that opportunity without regard to either resources or the location of the entrepreneur.
- Explains that entrepreneurial concepts require creative strategies to tap into resources and win customers, and opportunity recognition and being able to define the scope of the opportunity.
- Explains that servant leadership leads to greater customer focus and employee satisfaction. it is because taking into consideration the well-being of individuals demonstrates self-interest toward a company’s goals.
- Explains that innovation implementation is the use of a new application of information to gain greater values, ideas, and efficient expectations.
- Argues that the coordination of individual's differences promotes learning of new skill sets, resources, flow, influence, and knowledge development. companies should spread their demystification of innovation through organizational cultural diversity.
- Explains that understanding their personalities and skill sets will help them apply innovation implementation to their career.
- Cites chauchill, antoncic, hisrich, and florea, respectively, for their work on entrepreneurship and education in european union countries.
991 wordsRead More - Is Team Learning An Effective Approach To Enterprise Education?explanatory essayEntrepreneurship is about learning and building self-confidence, social and teamwork skills, developing characteristics and attitudes. It is not all about business and making money which I have learnt from this module, Enterprise Education and Team Learning.
In this essay, the author
- Explains that the department for children, schools and families defines enterprise education as the ability to be innovative, creative, take risks and manage them, and have a can-do attitude and drive to make ideas happen.
- Explains that entrepreneurship is about learning and building self-confidence, social and teamwork skills, developing characteristics and attitudes. entrepreneurship should be taught throughout the daily or weekly timetable.
- Opines that in recessionary times, we need more innovative people in the country/world. entrepreneurship in education can create more entrepreneurs, both social and commercial.
- Explains how a team is effective in democratising, organising, and increasing motivation. it promotes flatter and leaner organisational structures with less hierarchy.
- Explains that team learning is an effective approach to enterprise education as team members share decision making and management responsibilities. they show emotional support which helps reduce individual stress.
- Explains collaborative learning is vital to engage in enterprise learning. collaborative leaning involves working in groups to achieve a common goal while respecting each individual's contribution to the whole.
- Opines that leaders need to be a team player in order to lead enterprises. collaborative relationships will prove much more successful if they have an ‘win-win’ approach.
- Opines that it will take time to develop. there will be conflict as everyone finds their roles, go through a process of development.
- Quotes harwood (1988) and tann et al. (1981), who found a lack of questioning and risk-taking in 96 examples of group work.
- Quotes reid et al. (1987) who lists some of the advantages of getting students to work together in teams or groups.
- Explains that learning in groups has advantages for future employment, as a means of forging and sustaining interpersonal relations (building morals, team spirit, solving interpersonal problems, managing work groups).
- Explains that the oracle study found that children work as individuals concentrating on their own tasks. the team works well together to get things done, but people often take different roles, which can change depending on the task at hand.
- Explains that management development research has revealed that the ideal team has a mix of individuals all with different strengths.
- Explains that they were required to think in ways they normally wouldn't, in order to properly develop and understand the concept of the group task, which was given to them.
- Concludes that their experience of entrepreneurship education has been rewarding and positive. they are now aware of how it can fit so positively into education.
1060 wordsRead More - Innovation Theory: The Process Of Innovation And Entrepreneurshipcomparative essayWhat is Entrepreneurship? In simplistic terms it is defined as the activity of setting up a business or businesses, taking on financial risks in the HOPE of profit. Why in the world would a person want to assume the financial risk on an opportunity that may or may not pan out? One could argue that it is best to obtain a quality education and go to work for an established company; however, an Entrepreneur is a person that sees how a company or an opportunity that hasn’t been successfully explored and they convince themselves that they can do it better than anyone or business can and this is how I will do it! Prior to an entrepreneur saying this is how I will do it, they must go through a process of innovation. My wife and I are no different, we spent the past three years formulating our business plan to provide our clients with first class services. The innovation theory that is applicable for our business venture is healthcare disruptive theory and I will explain how important it is innovation theory to the overall innovation and entrepreneurship competency framework.
In this essay, the author
- Defines entrepreneurship as the activity of setting up a business or businesses, taking on financial risks in the hope of profit.
- Narrates how their wife and i were devastated when their youngest daughter was severely autistic. they were on countless aba company's waiting list and realized there was a need for therapists for people on the autism spectrum.
- Explains that the u.s. healthcare system is overly expensive and provides less value, in terms of outcomes, than other nations. the shortage of physicians plays a vital role in the lack of aba services to patients in dire need.
- Explains that innovation theory provides entrepreneurs with the framework and concepts to facilitate innovation. matthews and brueggemann state that there are five distinctive theories: disruptive innovation, new market, a countervailing force, efficient market theory, capitalistic dilemma.
- Concludes that they have identified their business model (aba), identified the appropriate innovation theory that is applicable for our business venture (healthcare disruptive theory) and identified why innovation theories are important to the entrepreneurship competency framework.
716 wordsRead More - No Definitive Profile of Successful Entrepreneursargumentative essayThere 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.
In this essay, the author
- Explains that there has been a lot 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 boss and work for their dreams.
- Opines that there is no one definitive profile of an entrepreneur. successful entrepreneurs come in various ages, income levels, gender, and race. they differ in education and experience.
- Analyzes the attributes that characterize entrepreneurs and sets them apart; they use them and develop them through the course of developing a new business idea to the consolidation of it.
- Explains that entrepreneurs need determination to never give up, even when things seem harder than what they expected. this must work in conjunction with flexibility, since they must adapt to the changing world and trends in the business environment.
- Explains that entrepreneurs use leadership and passion to continue their way to success. leadership is the capacity of directing and influencing others. passion gives entrepreneurs confidence in new ideas and keeps them focus on achieving them.
- Explains that self-confidence and smarts help entrepreneurs face risks and decisions in the most optimal way.
- Concludes entrepreneurs are brave men and women who create an innovative business idea and take care of its development. they are the owners of their own destiny and work towards success.
642 wordsRead More - Characteristics Of An Entrepreneurexplanatory essayEntrepreneurship incorporates unconstrained imagination and a readiness to settle on choices without strong information. The entrepreneur may be driven by a need to make something new or assemble something unmistakable. As new ventures have low achievement rates, the business person should have impressive tirelessness. Because of this, the entrepreneur may have the best risk of achievement by concentrating on a business sector corner either too little or too new to have been commanded by built up organizations.
In this essay, the author
- Opines that an entrepreneur should choose the kind of business structure they need to make.
- Explains that you could become an autonomous agent for another person's organization, offering or conveying their items.
- Explains that entrepreneurs have a tendency to have an interior locus of control. they trust that what transpires is powered by outside forces.
- Explains that an entrepreneur needs to be in control of their futures. entrepreneurs don't fit well in customary occupations and would prefer not being advised what to do. business visionaries recognize their needs and how to take care of them.
- Explains that an entrepreneur sees an open door which others don't fully perceive to take care of an unsatisfied demand or to profoundly enhance the execution of a current business.
- Explains that the ability to convey adequately and unmistakably is one of the most widely recognized characteristics of what is an entrepreneur.
- Explains that an entrepreneur is a business person who acknowledges some kind of danger or risk. they are often portrayed as inventive, autonomous, idealistic, innovative, and persevering.
- Explains that entrepreneurship involves unconstrained imagination and a willingness to settle on choices without strong information.
- Explains that entrepreneurs are not generally the same as maintaining a business, but the two may cover fundamentally. entrepreneurs are profoundly autonomous, which can bring about issues when their endeavors succeed.
- Opines that business people and entrepreneurship make organizations and associations. entrepreneurs may not be the best directors, but they are great at making a business.
- Explains that starting a business may sound energizing, but it's not something to take on so gently.
1515 wordsRead More - What Are The Importance Of Entrepreneurship?analytical essayEntrepreneurship is a key driver of our economy, wealth and the majority of jobs are created through entrepreneurship, and it also helps and educates people in terms of growth and realizing opportunities (Nolan, 2003). Entrepreneurship is also seen as one of the important contributing factor to local development (Nolan, 2003).
In this essay, the author
- Explains that entrepreneurs are people who are persistently focused on identifying opportunities and seek to create something worthwhile while taking into account foreseeable risk and rewards associated with the efforts.
- Explains that opportunity entrepreneurs are driven by pull factors, such as an opportunity to gain substantial financial reward or pursue their own ideas. entrepreneurs are perceived as risk takers.
- Explains that there are various reasons, which lead people to become entrepreneurs. these factors are formed by social, political and economic conditions.
- Opines that people with entrepreneurial aspirations find it difficult to operate within controlled environment where their ideas are subject to administrative procedures. many may decide to leave their jobs, not because they do not like taking orders or they have difficulty accepting authority.
- Explains schumpeter's definition of entrepreneurs as innovators who implement change within markets through the carrying out of new combinations.
- Explains that some people become entrepreneurs simply because they are motivated by money, but that does not mean that once the business is up and running it would be successful.
- Explains that motsepe foundation's founder donates billions of their wealth to the poor as a clear indication that they are not only in business to gain financial rewards but also to develop their communities.
- Argues that people who grow up in an entrepreneurial family are likely to become entrepreneurs. the nature versus nurture debate which existed since 1869 supports this argument.
- Explains that entrepreneurship can impact the economy of a country in diverse ways.
- Explains that entrepreneurs often resort to entrepreneurship for one of the following reasons: they find a market niche and have the solution to profit from such niche; they have been unable to find suitable employment or suitable means of income and use their creativity to generate an income.
- Explains that entrepreneurs generate income by being creative and finding a market niche and employing other individuals in their business operations.
- Explains the positive impact of entrepreneurship on the economy, which is the increasing level of competition as new entrepreneurs join the fray in existing domestic markets.
- Opines that increased competition in an economy results in increased productivity and an increase in gross domestic product, which is indeed a benefit for the economy.
- Explains that increased competition in the marketplace can cause saturation and as a result many entrepreneurs may be driven to seek new markets for their products and services or adapt market penetration tactics.
- Concludes that entrepreneurs are important in our society and should be protected, nourished, encouraged, and rewarded as much as possible.
- Argues that necessity entrepreneurship does not have a huge impact on job creation because it only caters for the financial needs of an individual.
- Explains that entrepreneurship is a key driver of our economy, and it helps and educates people in terms of growth and realizing opportunities.
1844 wordsRead More