Entrepreneurship and Small Business Essay
This requires universities, and in site professional development programs and training to reduce strategic thinkers who will have skills to succeed in a rapidly changing global environment. Creativity is breaking the conventional mental blocks and playing with imagination and possibilities, leading to new and meaningful connections and outcomes while Interacting with Ideas, people and the environment. Decipherment’s is the only source of long-run sustainable competitive advantage.
In an era of man-made brainpower industries, individual, corporate, and national economic success will all require both new and more extensive skills sets than have been required in the past. By themselves skills don’t guarantee success. They have to be put together in successful organizations. But without skills and technophiles there are no successful organizations. 2. What Is Entrepreneurship? Entrepreneurship Is the act and art of being an entrepreneur or one who undertakes innovations or introducing new things, finance and business acumen in an effort to transform Innovations Into economic goods.
This may result In new organizations or may be part of revitalization mature organizations in response to a perceived opportunity. The most obvious form of entrepreneurship is that of starting new businesses (referred as startup company); however, In recent years. He term has been extended
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Entrepreneurial activities are substantially different depending on the type of organization and creativity Involved. Entrepreneurship ranges In scale from solo projects (even involving the entrepreneur only part-time) to major undertakings creating many Job opportunities. Many “high value” entrepreneurial ventures eek venture capital or angel funding(seed money) In order to raise capital to build the business. 3. Who are Entrepreneurs? The entrepreneur is commonly seen as a business leader and innovator of new ideas and business processes.
Management skill and strong team building abilities are often perceived as essential leadership attributes for successful entrepreneurs. Robert B. Reich considers leadership, management ability, and team – building as essential qualities of an entrepreneur. An opportunity and, as the decision maker, decides what, how, and how much of a good or service will be produced. An entrepreneur supplies risk capital as a risk taker, and monitors and controls the business activities.
The entrepreneur is usually a sole proprietor, a partner, or the one who owns the majority of shares in an incorporated venture. According to economist Joseph Allis Schumacher (1883-1950), entrepreneurs are not necessarily motivated by profit but regard it as a standard for measuring achievement or success. Schumacher discovered that they greatly value self-reliance, strive for distinction through excellence, are highly optimistic (otherwise nothing would be undertaken), and always favor challenges of medium risk (neither too easy, or ruinous).
Who are Decorousness? A technocracies is an entrepreneur who is technology as’. N. Y, creative, innovative, dynamic, dares to be different and take the unexplored path, and very passionate about their work. They take challenges and strive to lead their life with greater success. They don’t fear to fail. They take failure as a learning experience, a stimulator to look things differently and stride for next challenge.
Technocracies continuously go through an organic process of continual improvement and always try to redefine the dynamic digital economy. Decorousness are entrepreneurs who are into the core businesses involving genealogy-based industries. They make use of technology to come out with new or innovative products through a process of centralization. The businesses are generally marked with high growth potential and high leverage of knowledge and intellectual property. Potential Decorousness must be equipped with both technical and business skills.
Technocracies Development and Innovation Division (DID) is the centre responsible for coordinating, promoting, managing and supervising all activities pertaining to technocracies development and innovation. What is the importance of Decipherment’s? 1. Making The Business Process Become Easier and Simple By utilizing decipherment’s, it is known that we are saving the time and distance through cost of marketing and shipping. That a business can be open anytime anywhere, making purchases from different region easier and more convenient.
The electronic devices and social network (Flogger, Backbone, twitter, etc) are able to shorten the lead time business spend on receiving and delivering goods or services, creating an instant competitive advantage in the small business. It means that the business process become much simple and easier to the both of suppliers ND consumers. 2. Simple and Fastest Way to Promote and Popularize The Product Flannel business, which maintained by other Indonesian Youth Entrepreneur (UNDID Alumnae) can utilize technology-entrepreneurship like internet they can promote it to internet as fast and simple.
They can receive an order from website through Google Spreadsheet attachment. Moreover, today Google has the new breakthrough to facilitate the small business to use the Google business This is turn increases productivity which ultimately gives rise to profits that means better pay and less strenuous working conditions. The young entrepreneur will optimize the resources by decreasing the raw material cost but gaining profits as many as possible through the utilization of decipherment’s toward their business. . Creating More Innovations and Creativity Innovation and creation is needed in developing small business. By utilizing decipherment’s, the entrepreneur will think more how they can generate more creativity to develop their small business become more popular, profitable and better. 5. Storing and Sharing Information of Business Technology creates electronic storages system to protect the data of the company ND it’s important for business integrity and process.