Entrepreneurship Assignment 2 Example | Topics and Well Written Essays - 2000 words

Entrepreneurship 2 - Assignment Example Entrepreneurship not only provides for one’s own self but creates jobs for a few other people as well. Entrepreneurship is connected with undertaking innovations or the introduction of new products or finance and business expertise. Entrepreneurship not only includes setting up of a business but its continuous growth and diversification. An entrepreneur keeps looking for a prospect that provides challenge. Through entrepreneurship products are converted into goods of real economic value. Entrepreneurship may involve establishment of new enterprises or could only be a revitalization of a mature organization in the result of a recent development. It’s the job of an entrepreneur to seek chances which make him capable of employing his energies in enterprising ventures. He gathers all the resources, assembles them in a nice shape and makes a product worthy of finishing. It’s the responsibility of the entrepreneur to bring improvement to existing ideas and sell them accordingly. Entrepreneurs have to lookout for market changes and create an opportunity for themselves by utilizing the shift in market demands. It is said that the most opportune moment for a moneymaker is when a nation is destroying or building itself. It is therefore from the process of change that the most occasions come from. Entrepreneurship is based on knowledge and is carried out after a sufficient amount of research. It caters socio-economic, psychological, technological, and legal occurrences and works in response to the swing they create in market trends. It delves deeper into marketing theories and change its strategies with the shift in events. Resources such as capital, human talent and technology are sorted and put to use in their most efficient combination at the most beneficial moments. Such arrangements are a specialty of entrepreneurs because they are moderate risk-takers. Therefore to minimize the risk factor a lot of market research is conducted when a new