GENERAL BUSINESS AND MANAGEMENT

General Business and Management

Table of Contents

Introduction3

Literature Review3

Entrepreneurship and Economic Development5

Aim and Objectives of Research7

Research Methodology8

Respondents Profile8

Survey Findings8

Conclusion10

References12

Appendix13

SPSS OUTPUT13

General Business and Management

Introduction

Society is changing rapidly in this challenging world. However, it is still knowledge-based technology and a modern society. Each individual must be prepared to deal with this situation and to find their own decisions. Therefore, one of the best decisions is entrepreneurship. Entrepreneurs are an important factor for innovation, competitiveness and growth. Many researches assume that entrepreneurship is the economic engine of most countries of the world. The reason for most important aspect of economy is that entrepreneurship has the strong presence in key sectors such as services and knowledge-based activities. Entrepreneurship has recognized fundamental rights by contributing to the economy, because it has a significant macro-and micro-effects on the economy around the world (Farrell, 1994, p. 60). It is considered as an important factor to create new ideas, new businesses and jobs and economic input (Solomon, et.al, 2002, p. 5).

Literature Review

Entrepreneurship has been an important topic in the business world for a long time. We can term this commercial entrepreneurship to distinguish it from social entrepreneurship, a much more recent development. Entrepreneurship was first defined by French economists in the 1700s. Over the years, a number of different viewpoints toward and definitions of entrepreneurship have developed. Definitions have emphasized a broad range of activities, including bearing uncertainty, creating new organizations, exploring new opportunities, bringing together the factors of production, and producing new combinations. The essence of these definitions is that entrepreneurship is embodied in the skills, orientations, and actions of managers who use the factors of production to bring about new products, services, or organizations.

Entrepreneurs are people who have the ability to discover and evaluate business opportunities, gather resources and behave in order to succeed. Entrepreneurs are motivated, equipped for action and to take risks to achieve their goals. The qualities required by employers are:

Self-confidence

Awareness of work needed and the desired result

Ability to take risks

Ability to lead

Originality

Awareness of future

The list enumerates the qualities you must have or must acquire if you want to be an entrepreneur. You may not need all these qualities, but the longer possesses, the greater the chances of entrepreneurship. We must make it clear that many of these qualities are closely related, for example, can be assumed that those who have confidence in themselves will be willing to take responsibility for their own decisions and take risks.

Not all entrepreneurs are equal, there are often significant differences between them, some are cold and arrogant, some cordial and friendly, and other reserved and shy. But if they are considered from the point of view of their different qualities and abilities, it is clear that as a group, entrepreneurs differ markedly from those that are not. It is unlikely that you ever find an entrepreneur who excels in all the qualities, but instead is likely to employers that you know have highly developed most of these qualities, especially the self-confidence, the ability to ...