ENTREPRENEURSHIP

Entrepreneurship



Introduction3

Literature Review3

A Theory of Entrepreneurial Opportunity Identification and Development3

Key Success Factors for Technological Entrepreneurs' R&D Projects4

Problem-Solving Techniques of Growing Very Small Businesses4

Critical Analysis5

Business Plan7

Problems Faced by Entrepreneurs8

Negative Mindset8

Overpowering Feelings8

Absence of Support8

Developing a Business9

Sentiments of Wanting to Give Up9

Conclusion9

References11

Entrepreneurs are believed to create their opportunities by engineering situations that heighten the chance they find an opportunity

Introduction

The entrepreneur is a visionary who is eager to endure the danger of another venture, if there is a noteworthy opportunity for the benefit. Others underscore the ambition person's role as an innovator who markets his growth. Enterprises develop new products or forms that the business sector requests and are not presently being supplied. Best enterprises impart certain particular characteristics which incorporate innovativeness, dedication, determination, adaptability, initiative and fearlessness. Creativity is the sparkle that drives the advancement of new items or administrations or approaches to work together. It is the push for enhancement and change. Similarly, commitment propels the enterprise to buckle down particularly initially, to get the endeavor off the ground. It influences the visionary to make the tenth telephone call after nine have yielded nothing. For the correct visionary, cash is not the inspiration. An entrepreneur is adaptable for the ability to move rapidly according to altering market demands. It is almost always accurate to a dream while additionally being aware of the business area substances.

Literature Review

A Theory of Entrepreneurial Opportunity Identification and Development

In the article, Ardichvili, Cardozo & Ray, (2003, p. 105) emphasize on the identification stage for a person to develop a business. Such entrepreneurial process of identification based upon the framework of philosophy initiated stages. It identifies the personality traits of an entrepreneur along with the social and prior knowledge. An Entrepreneur reorganization and evaluation along with growth is a necessary condition for the success of a company. So theories produced in accordance with the identification and development of a newly established company (Ardichvili, Cardozo & Ray, 2003, p. 106-107).

Key Success Factors for Technological Entrepreneurs' R&D Projects

Research and development projects started by the Entrepreneurs were to get the market situation and the critical gap that exists in the company. Along with business consideration they also figure out innovation and technology existing in the market. There are four characters that are needed to keep up with the company; it includes the risk of development, appropriate conditions along with technology and profitability from the business. These factors show the success rate of 80.9%. Entrepreneurs approach towards research and development ensures the screening of best possible chance in the market and thus they can forecast looking at the market conditions (Astebro, Joseph & Rotman , 2004, n.d).

Problem-Solving Techniques of Growing Very Small Businesses

Different issues are recognized in the literary works, for example, the lack of access to back, money stream issues; rivaling enormous business and finding talented staff, were affirmed in the observational comes about as issues encountered by extremely limited business members. Issues encountered could be interfaced to the lack of utilitarian administration ...