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Economic Crisis Breeds Opportunity for Entreprneurship - Research Proposal Example

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Economic Crisis Breeds Opportunity for Entreprneurship

Hence, the entrepreneur ensures overall value addition to the economic performance, productivity and internationalization of the nation.
An innovative entrepreneur is expected to possess high risk appetite when starting a venture with clear understanding of the correlation between risk & uncertainty which can be calculated by applying known probabilities and impacts. Knowing the industry dynamics, the entrepreneurs is expected to take calculated risks into account to bear the uncertainty of production & trade. The payoff is the profit earned by the entrepreneur which is the primary motive. In this context, the venture capitalist plays the role of trusting the innovation & risk appetite of an entrepreneur and providing funds for transitioning the ideas into action thus helping in formation of good performing start-ups. A nation having effective framework of capitalists (Banks, Financial Institutions, Private lenders, etc.) ensures better development of entrepreneurship thus boosting the economic growth. ...
Entrepreneurs generate new ideas by virtue of innovations which may comprise of:
(a) Introduction of a new product in the market
(b) Introduction of a new technology in the market
(c) Introduction of a new methodology of production in the industry
(d) Opening a new business potential & market in the region which has remained untouched largely by other companies
(e) Discovery of a new source of supply of raw materials, support & services which is not known to other companies
(f) Building a new organization system with innovative business model not tested by other organizations
(g) Overall, create new profit opportunities
An innovative entrepreneur is expected to possess high risk appetite when starting a venture with clear understanding of the correlation between risk & uncertainty which can be calculated by applying known probabilities and impacts. Knowing the industry dynamics, the entrepreneurs is expected to take calculated risks into account to bear the uncertainty of production & trade. The payoff is the profit earned by the entrepreneur which is the primary motive. In this context, the venture capitalist plays the role of trusting the innovation & risk appetite of an entrepreneur and providing funds for transitioning the ideas into action thus helping in formation of good performing start-ups. A nation having effective framework of capitalists (Banks, Financial Institutions, Private lenders, etc.) ensures better development of entrepreneurship thus boosting the economic growth. [Dejardin, Marcus. 2000; Harry P Bowen & Dirk De Clercq. 2008]
Empirical evidences suggest that Entrepreneurship is very closely linked to Economic Growth. The globally accepted model of correlation ...Show more

Summary

In the modern world of globalization & stringent competitiveness, an entrepreneur is defined by a number of definitions based on past empirical analytics & researches - an innovator, owner of an enterprise, coordinator of economic resources, a resource manager, an individual ensuring enhanced image of the economy on a global platter, and so on…
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Economic Crisis Breeds Opportunity for Entreprneurship essay example
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