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Assignment Table of Contents 1 1.1.Systematically Analyse the Concept of Entrepreneurialism 3 1.2.Critically Evaluate Entrepreneurialism as an Agent of Change in Both Public and Private Health and Social Care Sector. 4 6 References 7 1.1. Systematically Analyse the Concept of Entrepreneurialism The entrepreneur is an individual or a group who is keen to abide by the risks of organising, operating as well as assuming the possibilities for a business venture in order to build capital either through profits (in case of profit earning organisations/companies) or through funds (in case of non-profit institutions)…
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There are certain numbers of characteristics that are involved with the effectiveness of entrepreneurs, such as self confidence, sense of ownership, continuous learning skills, communication abilities, goal and system oriented cognitive skills, and dedication towards the objectives with an optimistic point of view among others. According to the concept of Peter Drucker, entrepreneur can be regarded as the person who essentially looks for changes and attempts taking appropriate actions on it developing those changes as a prospect of growth and success (Marks and Hunter, 2011). Among the various notable entrepreneurs of this era, Lord Alan Sugar has been one. Born in the not so famed East London, he rose up to the occasion to be a member at House of Commons and to hold 89th place in Sunday Times Rich List of 2011. Amstrad has been his most successful venture. The paper on entrepreneurship should also mention about the Virgin group Chairman Richard Brasnon, the 4th richest person of UK. Virgin Megastores, Virgin Atlantic Airways, Virgin Mobile and the expanded Virgin Records are few of his successful ventures. 1.2. Critically Evaluate Entrepreneurialism as an Agent of Change in Both Public and Private Health and Social Care Sector. In the modern day context of healthcare and social organizations, the entrepreneurs are highly inclined towards gaining increased revenue or profit for the organization. However, social enterprises, now-a-days, entail with certain significant attributes related to the governmental public policies. The enterprises of the globalised world focusing on a developed entrepreneurship are different from traditional and socio-economic approaches which motivated the European countries to adopt developed legal frameworks. The contemporary scenario of the healthcare organizations is highly required to be conscious with regards to the environmental changes and implement suitable plans and strategies for the organization concentrated on its social benefits. Significant plans along with the appropriate strategies are more effective for the organization to put up internal strengths along with external opportunities taking into account the surmounting peripheral threats as well as interior weaknesses possessed by the concern. For instance, in the context of health and social care divisions of UK, it has been observed that the current circumstances have perpetually increased the requirements for more efficient and cost control strategies. The reasons behind such inclination relate with the reduction in government’s financial support to the sector, involvement of private firms as well as expansion of National Health Service (NHS) (Department of Health, 2009). Therefore, in the modern phenomenon, the UK based healthcare organisations within the private sector as well as public sector continue to strive for achieving the competitive advantages through cost-limitation and growth sustainability. The strategic decisions are the crucial factors which can encompass a long term effect on the prospects of an organization with regards to its utilization of the resources, ... Read More
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