Entrepreneurship notes
1. Who is an entrepreneur? Briefly describe the attractiveness of business people. Entrepreneur is someone who creates a new business in the face of risk and uncertainty in order to take advantage of important opportunities by identifying the necessary resources for profitability and growth. The lure of the business: a. Sense of Responsibility: This is an important aspect of an entrepreneur and feels a deep sense of personal responsibility for the results of the projects he initiates. To control the resources they use to achieve their personal goals.
Pigeons prefer medium risk: this means that the investor is not risk averse; instead, it calculates risks. In other words, successful traders are not risk takers, but risk removers who remove barriers to successful trading. High energy: Entrepreneurs have more energy than average, which can sometimes be important to start lunch. This energy may be the key to, given the incredible effort it takes to start a startup. Day Crave Instant Feedback: Most entrepreneurs are willing to be entrepreneurs.
They are interested in the challenges of running a business and is seeking advice because they want to see how they do it. They use the strategy to overcome their negative points. Intelligence: Entrepreneurs know how to bring the right people together to achieve success. He works well by mixing business and people and brings his vision to life. Flexibility: Entrepreneurs can adapt to the different needs of businesses and customers. For example. IBM’s strategy of using email advertising in the early 1990s received positive responses and boosted its microprocessor business.
High commitment: Starting a business is hard work and a successful organization requires the full commitment of the entrepreneur. Entrepreneurs often do this themselves in their companies. The concept of entrepreneurship is understood as a combination of creativity and innovation. This is the stance taken in business, the use of internal strategy as a “thinking” about new things. IT involves finding new ideas and testing new methods at work. The Business concept also introduces new ways to find opportunities and identify new ways of solving problems. Marketing requires entrepreneurs to change patterns and discard old assumptions and assumptions. Entrepreneurs are starting to use technology to instill creativity in their employees. The Doing Business strategy involves considering various opportunities to improve the performance and business results of employees. Entrepreneurs should consider strategic planning to assess what growth opportunities exist and how they will use them to achieve success. Strategic planning is an essential part of business strategy and effective implementation helps achieve success. Influence is a useful tool in business, and the serves the niche market of business development. The business idea includes the business owner’s responsibility to support employees that impact sales and profits of the business. Entrepreneurs play an important role in economic development. An entrepreneur creates new businesses, introduces products, develops technology and offers effective solutions to existing social and environmental problems, thereby affecting many people’s lives. Business creates wealth for people and nations. It is the most powerful force in business. Today’s business environment and technological advancement present complex challenges to the business and of people. Most entrepreneurs choose to outsource jobs to to save operating costs. They outsource even the most important processes in production or business operations.
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