ENTREPRENEURSHIP - Assignment Example

can gain marketing competencies. Hence, context of the report tries to focus on the worth and value of entrepreneurial marketing. It is highly rational to conduct such a study because effectiveness of entrepreneurial marketing activities determines long-term success of small firms as well as the entire economic system of a nation (Papalexandris and Galanaki, 2009). According to the views of Donald Kuratko, “an entrepreneur is a person who pays a certain price for a product to resell it at an uncertain price, thereby making decisions about obtaining and using the resources while consequently admitting the risk of enterprise” (Kuratko, 2013).

Entrepreneurs in the business world are treated as human capital. It is claimed that economic capital of an organization becomes more productive with the essence of effective human capital. It is also believed that leadership skills of entrepreneurs determine the circulations and shifts in an economy. It was claimed that fabrication of an economy is created through entrepreneurship (Glover, 2013). According to some researchers, Cunningham and Lischeron had first introduced the concept of leadership school of entrepreneurship in 1991 (Stryker, 1998).

The entrepreneur in an organization, similar to a leader, assists workers to accomplish the desired organizational tasks and objectives. Motivation is another skill embedded in good entrepreneurs. The gap between workers’ ability and willingness to work is bridged by motivation instilled by an entrepreneur in workplace (Stryker, 1998). The mission and vision of an organization is achieved with dedicated work of an entrepreneur. It was also noted that work culture of a firm is upgraded with contribution of an entrepreneur (Glover, 2013).

In latter stages, these theories of leadership were linked with those of entrepreneurship. Even so, it should be noted that these theories only help to analyze the worth of