Deconstructing The Worth Of Entrepreneurship Essay

Length: 4 pages Sources: 3 Subject: Business Type: Essay Paper: #91079072 Related Topics: Amazon, Starbucks, Cloud Computing, Computer Industry
Excerpt from Essay :

¶ … Values of Being an Entrepreneur

Intrepreneurship is important for so many different reasons. Some of these are decidedly practical, such as the reduction of job opportunities during economic times that are less than desirable (which is currently the case). Others are perceived as more personal in nature, such as the fact that some people are not partial to working for others and would rather do so for themselves. Still, it is worth mentioning that intrepreneurship has plenty of difficulties that accompany situations in which individuals choose to expand their businesses. They have to deal with competition, increasing attention from governmental and regulatory agencies, and market trends that can impact whatever industry in which they are involved. Still, when one stops to considers both the positive and negative aspects of intrepreneurship, it becomes perfectly clear that intrepreneurship is vital to a capitalist system because it enables market forces to continually evolve and presents new forms of revenue generation.

Essentially, intrepreneurship is important because it fosters creativity. Such creativity takes many forms and can be as simple as individuals expressing their own innate creativity through the realm of business or as vital as allowing for the basic forces of competition upon which capitalism is founded. The latter has enduring importance in Western society. Quite simply, intrepreneurship provides for the creation of new market forces so that the system of capitalism can continue to evolve. Without intrepreneurship and entrepreneurship, and the...

...

Intrepreneurship is what allows such companies to thrive and to engage in business practices. Without intrepreneurship, virtually everyone that is working for the new businesses of a company that is founded upon this principle would instead be working for another company. In fact, some companies continue to exist simply because of the whole notion of intrepreneurship. For instance, they are able to extend their lines of business from those that the company is traditionally associated with to other ones, which enable them to generate additional sources of revenue and to stay in business. A fairly good example of this capacity of intrepreneurship is found in the industrial internet in the form of equipment asset management. Traditionally, original equipment manufacturers have created and sold various forms of industrial equipment (such as jet engines or equipment for oil refineries) that require monitoring to determine when these assets might need servicing or maintenance. Currently, there are new technological advances that allow these same companies to monitor those assets with both real time and predictive analytics options (Harper). Now, those original equipment manufacturers can also offer an additional service to their customers -- the ability to monitor their equipment assets and service them before any sort of accident or malfunction occurs -- that is another means by which the manufacturer can make money from its customers. The creation of new products and services (and bringing them to the marketplace) is the very foundation upon which intrepreneurship is founded. It is important for companies to continue to utilize the intrepreneurial spirit so that they can come up with new, creative ways to stay in business.

Another really good example for the way that intrepreneurship advantages the enterprise is found in the case study provided by Amazon and its founder, Jeff Bezos. Initially, Bezos founded his business on the mere buying and selling of books, and did not believe that it would…

Sources Used in Documents:

References

Harper, J. (2014). Monetizing the industrial internet of things. www.dataversity.net Retrieved from http://www.dataversity.net/monetizing-industrial-internet-things/

Hill, C.W., Jones, G.R. (2014). Strategic Management Cases: An Integrated Approach. New York: Cengage Learning.

Thompson, A.A. Starbucks in 2012: Evolving into a dynamic global organization.


Cite this Document:

"Deconstructing The Worth Of Entrepreneurship" (2015, June 19) Retrieved January 21, 2022, from
https://www.paperdue.com/essay/deconstructing-the-worth-of-entrepreneurship-2151578

"Deconstructing The Worth Of Entrepreneurship" 19 June 2015. Web.21 January. 2022. <
https://www.paperdue.com/essay/deconstructing-the-worth-of-entrepreneurship-2151578>

"Deconstructing The Worth Of Entrepreneurship", 19 June 2015, Accessed.21 January. 2022,
https://www.paperdue.com/essay/deconstructing-the-worth-of-entrepreneurship-2151578

Related Documents
Finance and Financial Entrepreneurship. The Basis of
Words: 11684 Length: 34 Pages Topic: Animals Paper #: 49018616

finance and financial entrepreneurship. The basis of the article is on a discussion that was held on this subject among four leading lights of financial entrepreneurship in the United States - Michael Milken, Lewis Ranieri, Richard Sandor and Myron Scholes. These people are famous in their own right and have had a sizeable role in financial entrepreneurship in the U.S. over the last 20 years. We have first discussed

Employee Satisfaction Hygiene Factors and
Words: 15085 Length: 50 Pages Topic: Careers Paper #: 27698005

Motivation of workers is posing very big challenges to organizations. Herzberg ensures that an organization rewards its employees depending on the behaviors that the management would like to encourage.One of the widely known writers on motivation of workers is Frederick Herzberg. He is widely known for the two-factor theory that he came up with. The two factor theory is widely referred to as the hygiene motivation theory. As stated above,

Toni Morrison's Sula & Feminism
Words: 7861 Length: 23 Pages Topic: Sports - Women Paper #: 33345667

From girlhood," Sula shows a natural gift for daring, Lorie Watkins Fulton writes in African-American Review (Fulton, 2006). Sula in fact persuades Nel to join up with her in order to confront the bullies on Carpenter's Road; and when Sula shows the guts to pull her grandma's paring knife from her pocket and slice a piece of her finger off, the boys star "open-mouthed at the wound" (Morrison 54). If I

Firm Managed the Financial Collapse
Words: 3266 Length: 9 Pages Topic: Paper #: 93932473

The instant coffee, called Via, Starbuck's newest entry into supermarket-style purchases, is sold at its lowest price point, compared with its higher-end coffee ice creams and bottled Frappucinos and espresso shots. Despite initial criticism Via has kept the Starbucks name alive on store shelves and in consumer's minds who are not currently going to cafes, because these former patrons and Starbucks loyalists have lost their jobs or because their

Walk Down Wall Street Stock Valuation From
Words: 5821 Length: 20 Pages Topic: Economics Paper #: 10054849

Walk Down Wall Street Stock Valuation from the Sixties through the Nineties Malkiel notes that there were a number of speculative trends from the 1960s to 1990s, and that they all mended up in the same way. Every few years, the stock market has another bubble or speculative mania which soon crashes and levels off, such as overvalued food stocks in the 1980s or the Nifty Fifty blue chips in the 1970s,

Shattering the Glass Ceiling. History
Words: 3312 Length: 10 Pages Topic: Sports - Women Paper #: 35489172

Miller & Lemons (1998) had identified other problems, one of which was, in fact, exclusion from the old boy networks. They noted the fact that women also often are in a pioneering role as problematical." And they had a very sympathetic viewpoint of the 'differences' in family responsibilities obliquely identified by the GAO report: "Also, after spending a long day at work, most of these women still have to go