ENTREPRENEURSHIP

Entrepreneurship

Entrepreneurship

Introduction

Entrepreneurship is the act of being an entrepreneur. Entrepreneur refers to any person who identifies an opportunity and organizes the resources needed to implement it. This can result in the creation of new organizations, companies or may be part of revitalizing mature organizations in response to potential opportunities. The best known form of entrepreneurship is that by creating additional business, but lately, the term has been extended to include activities that include social and political aspects.

Entrepreneurial activities are quite different, depending on the type of organization that is created. Entrepreneurship ranges from individual projects to multiple major initiatives that create employment opportunities. The aim of this paper is to talk about entrepreneurship from variegated contexts, roles and types and then comparing the suitability of these different types of entrepreneurship for my personal entrepreneurship project.

Types of Entrepreneurship

Small

Small business projects are of immense concerned for me. Trough small business projects I can accomplish my objectives. My two basic objectives related to conducting the business are as follows;

First of all I want to start a business that would bring positive changes in the society and its development and extends me opportunities to help out people.

Secondly, I want to do business that allows me to show my creativity and innovation.

Another very important reason that catches my attention of indulging into the small business projects is the availability of loans and help from different institutes. The three tools and resources that are identified and would be beneficial in small business administration are as follows:

Disaster recovery loan

Finding a mentor

Templates and tools

The reason behind choosing disaster recover loan is that it would provide me with the required finances. Disaster recover loan provides loan to the social organization. Finding a mentor would be beneficial for me. It would provide guidance to start the business and would help me develop qualities that I lack. Templates and tools would help me acquire knowledge about the industry in which I would start my business.

Growth Venture

The above figure shows that the innovative process starts from developing entrepreneurial goals. So, it is essential for the leadership of an organization to setup entrepreneurial goals. Another significant pint that can be extracted from this diagram that shows the innovation process is that from the step of finding opportunities till the develop ventures learning plays a crucial part as mentioned in the diagram. This learning process can be facilitated by the leaders or the organizational leadership (Bessant and Tidd 2007, 160). An organization would only be able to create value through entrepreneurial innovation process if it would be able to facilitate this learning process through organizational leadership. This leadership can act as a positive influence as well as a negative influence.

Entrepreneurship from Different Contexts

The following part of the paper analyzes the nature of entrepreneurship on the basis of the context of the entrepreneurship.

Social (non profit)

Socially responsible entrepreneur approach is a mode of business in which the primary goal is to make a positive impact on society (people, families, ecology, or similar) while providing a product ...