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Management 500 - Essay Example
Author : htrantow
Pages 7 (1757 words)
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…
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. ...