Entrepreneur

Entrepreneur

Introduction

This paper aims to provide an understanding reading business innovators and entrepreneurs. It will take into account a description regarding a successful entrepreneur and how was he able to achieve success in the field. The concept of entrepreneurship is quite different from employees and professionals that work for employers including companies. The individual that has inspired me as an effective entrepreneur is Ned Dwyer who has achieved great success in the field of technology. Initially an interview has been conducted from him in order to find the conclusions for this paper.

Discussion

Entrepreneurship creates long-term wealth for individuals and nations (Michael, 2009). High impact or qualified entrepreneurship, based on technological advances as the lever for regional development and growth, is also stressed (Leitao & Baptista, 2009). Innovation, in the sense of introduction of new things or doing them differently to add value, therefore, benefits firms and economies and can foster technological entrepreneurship through adoption or innovation of devices, equipment, and technical procedures.

Starting a new business, usually involves risks, but technology-based businesses increase the risks and uncertainty. This happens mainly, because research and development (R&D), or new products or innovative activities generally precede the final marketable product and the development of new processes is getting increasingly complex and costly. If, we compare commercial activities and services to Innovative Business we may find that the commercial activities have lesser disequilibrium. To increase economic expansion, industrialization, and technical development, the role of technological innovations, enhancements and capabilities, are significant and broadly recognized (Lerner, 2010), especially for medium and small size enterprises (Subrahmanya, 2010).

Knowledge Gained From the Interview

The reason I have chosen Ned Dwyer for this assignment is because he came up with an innovative idea of bringing smalls changes in to the company's website, rather than going for sweeping, huge redesigns. His success can be seen by the success of his company named “Tweaky”. The company's operations include the putting of consultants to companies that require help about anything starting from advertisement to visual designing. The company was launched on the mid of 2012 and has been successful in receiving approximately 450, 000 dollars in designing and advertisement consultancy (Crikey, 2013).

According to the interviewee, a successful entrepreneur venture requires an idea rather than money or other resources. Everything can be done by coming up with an idea that is unique and ensure the production of goods and services that are not existing in market. This is the major reason that has contributed to the success of his company.

Importance of Creativity and Innovation

In an era when technology, knowledge and business are integration as they never have in the past, today's entrepreneurs need to adapt new skills which can help them match with the era. Today, career's success of a new business is determined by an ability of entrepreneur to effectively communicate with co-workers and subordinates, introduce and sell new ideas, and manage time.

Most organizations today are confronted with a number of recurrent systematic problems which requires them to take a significant position against them ...