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Entrepreneurship
What Is Entrepreneurship?
An entrepreneur is a person who takes on risks and seeks to create an ongoing business by coordinating resources, raw materials, time and materials to create a valued product or service. The role of the entrepreneur is to continually create new value in an economy by providing products and services that give both consumers and businesses greater value, solve their problems or contribute to their attaining their goals and objectives (Costin, 2012). The intent of this analysis is to evaluate what entrepreneurship is and how it is changing today given the nature of the Internet and social networks.
What Entrepreneurship Is and How It Is Changing
At its most fundamental definition, entrepreneurship is focused on the undertaking of a new enterprise to deliver value products and services to customers (Howorth, Tempest, Coupland, 2005). This definition continually is being expanded as the nature of assets, resources and their optimal use to solve problems or increase the quality...
An entrepreneur in the mid-20th century for example would not have the depth of analytics and big data software applications to study their customers and gain greater insights into how to deliver a highly differentiated product or service. The role of analytics combined with the level of acuity that many successful entrepreneurs have in seeing opportunities in problems people face is accelerating their growth as a class of business creators (Rusu, Isac, Cureteanu, Csorba, 2012). All of these factors are combining to completely reorder what an entrepreneur is in the 21st century and how they address emerging market opportunities that very often they see and many others miss. The many successful entrepreneurs provide ample evidence of how their differences in perspective, acuity and focus are completely different than business managers who are more often given the task of keeping an existing business up and running (Howorth, Tempest, Coupland, 2005). An…
Bibliography
Bernoff, J., & Li, C. (2008). Harnessing the power of the oh-so-social web. MIT Sloan Management Review, 49(3), 36-42.
Costin, G. (2012). The profile of an entrepreneur in a modern society. Valahian Journal of Economic Studies, 3(4), 13-16.
Howorth, C., Tempest, S., & Coupland, C. (2005). Rethinking entrepreneurship methodology and definitions of the entrepreneur. Journal of Small Business and Enterprise Development, 12(1), 24-40.
Rusu, S., Isac, F., Cureteanu, R., & Csorba, L. (2012). Entrepreneurship and entrepreneur: A review of literature concepts. African Journal of Business Management, 6(10), 3570.
Entrepreneurship and Innovation Subject Q1) Do you think kickstarter is a viable alternative to raising equity funding or debt financing? If so under what circumstances? The growing popularity of the Internet has spawned crowdsourcing as new model of fund raising, pioneering by www.kickstarter.com. This innovative model is a distributed problem-solving and production model helping entrepreneurs and investors to launch a new product to the market place. From the novelty point-of-view, it is
Entrepreneurship How does a "low price provider, a low cost operator," that is committed to keeping quality and safety at the forefront of operations, "…achieve financial sustainability?" (Anant, et al., 2012, p. 1). This paper critically evaluates the article and offers an analysis of the business model employed with Lifespring Hospitals. The Lifespring Hospital Case The hospital got off the ground thanks to American money in the form of a venture capital fund
Finding ways to delegate authority is an important thing for entrepreneurs when they grow. When a company is in the beginning or high growth stage of the business cycle, there comes a point when the founder must let go some control so that the business can be more professionally run. The current business model is somewhat aimless, but oriented towards high end positioning. An alternate direction is that the business
Entrepreneur Description of the Business The business that I am starting is a food truck specializing in pulled pork sandwiches. The primary product is the pulled pork sandwich -- the pork is produced off site -- and it is sold along with a handful of complementary items (drinks, chips) in a food truck, essentially a mobile restaurant. The business will have two trucks to start, in order to cover a wider geographic
Burns (2007) indicates that the text is about that which motivates the actions and decisions of the entrepreneur, including the influence of personal social networks, family and personal background. Moreover, the text reports itself to be about the tasks of management which are associated with the entrepreneurial approach as well as how decisions are make, how risk is balanced and most essentially how there is a clear distinction between
Furthermore, during the same period there was an increase in the number of women-owned businesses in the 1-9 and 10-49 employment size categories. The idea that women do not make good entrepreneurs is countered by various facts, such as: "Research by Barclays Bank has revealed there are today nearly a third more women entrepreneurs than there were in 2000,...there are now 150,000 women-run enterprises across the UK, with the south