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Management 500 - Essay Example

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Management 500

Thus, the responsibility of entrepreneurs is increasing. Entrepreneurs The term ‘entrepreneur’ is escorted with elements such as responsibility, capability and management. Precisely defining, it refers to a person who bears the possession or owns any idea or a venture and thus, is also liable for the results and risks involved in such custody. Richard Cantillon, an Irish-French economist, first defined entrepreneur as a ‘risk taker and a contractor who is supposed to be acting as a middleman or a connection between labor and capital”. Along with being innovative, an entrepreneur also possesses essential innate traits such as extroversion, efficiency, creativity and productivity1. Managing the entrepreneurial growth is the pre requisite of the management of any business which is pushing its way through a tough competition in the markets. Thus, according to the article, the provision of Lebanese Sweets requires a rigid entrepreneurship and management. It is observed in the case that the companies which are limited and smaller in scope, such as Swan Sweet, need to remain innovative through the constant development of novel and creative products. This creates the need for value innovation which is attained through the entrepreneur’s efforts of delivering superior services to the company’s customers. ...
Some commentators and management experts are of the opinion that those small scale enterprises, which take quick expansionary moves, are more prone to the riskiness of innovativeness and attitude for the reason that their revenue generation might not be able to match the cost that is being put in. Moreover, the good entrepreneurs make us of every available opportunity to advertise, even if it is through considering the students as their agents and getting the benefit of word of mouth advertisement2. Then, the entrepreneurs are also charged with the responsibility to hunt for new opportunities and avail them in time through their proactive behavior. Further studies suggest that the entrepreneurs need to be team-oriented, charismatic and value-based leaders, when it comes to managing any small or large organization in cross-cultural construct3. However, this also depends on the type and nature of society in which the organization is operating. But, it is the management, diversification and the intellectual capabilities of the entrepreneur which account for the success factor of his growth. The Interviewed Entrepreneur The interviewed entrepreneur, Raif, gave confident opinions and answers in order to confirm the theory. According to the theory of entrepreneurial growth, he gave the idea of being a good entrepreneur and a democratic leader. This has been indicated in the interview by the fact that he runs the family business by involving everyone into it and obtaining the clients’ feedback. He encourages his stakeholders to participate in the decision making process of the company, as a result of which, the customers, along with providing the ...Show more


Managing Entrepreneur Growth Customer Inserts His/Her Name Customer Inserts Grade Course Customer Inserts (May 19, 2011) The current age has been marked as the age of technology, innovation, resilience and globalization. The businesses are growing and moving ahead for further advancements and progress…
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