Individual academic and practical 'state-of-the-art' report - Essay Example

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Individual academic and practical 'state-of-the-art' report

The perspective of the entrepreneur and the management of new venture is clearly seen through the fact that real entrepreneur should see the opportunity for creating and managing this venture. It is stated, that 'the fundamental activity of entrepreneurship is new venture creation'. (Carland, Hoy & Carland, 1988) However, it is also argumentative, whether this statement should be added with the more specific characteristics as for profitability of this enterprise. This is a dubious aspect, as ventures are initially different, and often entrepreneurship is meant for creation of non-profit enterprise, but in any case the recognition of the opportunity is the basic factor of entrepreneurship and is the start of new venture creation and management. This recognition of opportunity can be recognized through the two different views: a) the opportunity for the formation of a new venture; b) the opportunity for the significant improvement of the already existing venture.
One of the most important perspectives of entrepreneurship in venture management is recognition of these opportunities, because on the one hand without this recognition new ventures would not be created or improved, and on the other hand, this recognition is the display of these very entrepreneurial characteristics of the person. ...Show more


The topic of entrepreneurship as individual occupation has become very popular. Many scholars at present view this issue and occupation not only in the context of managing one's own business, but displaying entrepreneurial qualities within certain enterprise not being its owner (the so-called intrapreneurship)…
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