Entrepreneurial Business Principles - Essay Example

Only on StudentShare

Extract of sample
Entrepreneurial Business Principles

In 2007 an innovative product that caught the attention of the market was the iPhone. It is imperative for companies to invest in research and development to spur innovation within the firm.
A third business principle that is essential for the success of entrepreneurs is teamwork. Teamwork has become a critical success factor in the 21st century. When teamwork breaks down within a firm the members of the group find it difficult to accomplish theirs tasks and goals (Cross, 2013). Teamwork within an organization can be enhanced by providing the employees of a company with training to develop important skills such as leadership, communication, and collaboration. A fourth business principle that is important for the success of entrepreneurs is active listening skills. Businesspeople must understand that the opinions of others are of importance since products should be developed based on the desires of the target customers. Listening to others also improves the communication process within a ...Show more

Summary

One of those principles is ethics. Business owners must have sound ethical principles which must be applied throughout the organization they work for. Ethics must be used in the relations…
Author : goyettechaya
Entrepreneurial Business Principles essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Entrepreneurial Business Principles"
with a personal 20% discount.
Grab the best paper

Related Essays

The entrepreneurial process that brought about the creation and growth of the business venture, mySmoothie, by the innovative entrepreneur, Domeniqu
The entrepreneurial process that brought about the creation and growth of the business venture, mySmoothie, by the innovative entrepreneur, Domeniqu. The growth and expansion of any business depends largely on the kind of entrepreneurial structures that are put in place by owners of the businesses.
4 pages (1000 words) Essay
Entrepreneurial Leadership
Strong leadership includes innovation that seriously takes into account the reality of change in society and the capacity-building for change. Leading at a time of change is every leader’s responsibility, be it in politics, government, and business. Leadership enhances entrepreneurship.
6 pages (1500 words) Essay
Entrepreneurial Venture: Cleaning Business
The quality of trust that develops between the customer and the business units guides the overall outcome of the business. (Lynn, 2010) Getting ready for the Business: I was staying in long Island, and was determined to set up a business of my own. Investing a considerable amount of money into the business was a constraint for me.
4 pages (1000 words) Essay
Entrepreneurial Leadership Business Essay
It is however important to understand that in order to be an effective leader, it is critical the entrepreneur must be able to model the success of others. He or she must be able to learn how to model the success of those who have been successful in the chosen field.
4 pages (1000 words) Essay
Entrepreneurial Marketing Business Plan
This company is one of the growing advertisement agencies which have adopted the use of video productions and internet promotional services. OZ Tube promotional materials target the young population who falls under the age bracket of 18-35. This company provides services to the tourism and hospitality industry through the two communication media.
4 pages (1000 words) Essay
Entrepreneurial Business Innovation
According to BCG, a company's corporate strategy must have a detailed layout of how it can integrate its resources and capabilities to create superior value for its investors and nowadays, even for its stakeholders (Missing Link, 2008). Today, definition of value creation has changed to a considerable extent from those of traditional methods in a business firm.
9 pages (2250 words) Essay
Entrepreneurial business
port (Mintel, 2004) on teeth healthcare and toothbrushes, the market of toothbrushes reaches £201 million in 2004, with the volume decreasing by 8% from the previous year. Toothbrushes are divided into manual and powered. Most of toothbrushes sold in 2003 were manual but
6 pages (1500 words) Essay
Entrepreneurial Crime
Government and regulatory institutions should equally engage the business and private sector more closely so that there is greater synergy in the business environment from multiple stakeholders (Acs & Szerb, 2007). White-collar crime is a corporate
5 pages (1250 words) Essay
Literature review on administrative marketing vs entrepreneurial marketing
organizations with relatively abundant resources, overlooking the resources and skills that more entrepreneurial-oriented firms have to employ in the face of capacity limits, resource constraints, and different business objectives as they seek a competitive advantage through
4 pages (1000 words) Essay
Literature review on administrative marketing vs entrepreneurial marketing
organizations with relatively abundant resources, overlooking the resources and skills that more entrepreneurial-oriented firms have to employ in the face of capacity limits, resource constraints, and different business objectives as they seek a competitive advantage through
4 pages (1000 words) Essay
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT