StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Entrepreneurship in Our Contemporary Societies - Essay Example

Cite this document
Summary
The paper "Entrepreneurship in Our Contemporary Societies" states that being entrepreneurial means that one has the ability to identify or create business opportunities and pursue them regardless of the risks that might be involved. Hence, an entrepreneur can be said to be the owner of a business…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER91.3% of users find it useful
Entrepreneurship in Our Contemporary Societies
Read Text Preview

Extract of sample "Entrepreneurship in Our Contemporary Societies"

?ENTERPRENUERSHIP Being entrepreneurial means that one has the ability to identify or create business opportunities and pursue them regardless of the risks that might be involved (Johnson, 2001. p.135). Hence, an entrepreneur can be said to be the owner of a business. An entrepreneurial mind is very innovative, and always comes up with new ideas of ventures which are thoughtfully planned. Entrepreneurs come up with ways of utilizing the available resources despite how few they may be, with the aim of making a profit. Uncertainty is a major trait of entrepreneurship since it entails coming up with something new which has not been existing in the market. Consequently, this means that as entrepreneur one has to be able to create market for what he has introduced, since he has the sole responsibility of ensuring business growth (McFadzean, O'Laughlin & Shaw, 2005, p. 350). Successful entrepreneurs have been found to be always positive as being negative may lead to the fail of a business opportunity. From the above understanding of entrepreneurship, I believe that I possess a few traits of an entrepreneur. I was able to exploit a few ideas while in college from which I was able to generate a small amount of capital. Particularly, since there was a lot of demand for photocopying services within the collage, I was able to start a photocopying shop (Parboteeah, 2000, p. 28). Though there were numerous shops within the college offering similar services, I did not give up. I aimed at locating the shop in a strategic position which was convenient and easily accessible to the students. The business lasted for a period of two years; when I moved out of that environment, on completion of my studies in search of greater opportunities (McFadzean, O'Laughlin & Shaw, 2005, p. 358). Despite the fact that the business was not able to generate a remarkable amount of profit, it gave me a significant amount of knowledge in the field of business. According to Parboteeah (2000, p. 32) the key aspect of entrepreneurship is coming up with new ideas, and this is what any business needs in order to grow. Innovation always keeps a company’s products in the market as the company will be able to beat its competitors through new strategies. Without constant innovations a company is likely to fail due to changes in technology, as well as market changes. Market changes within a short time hence, it is important for business managers to understand that what interests the market today, might not be of much interest come tomorrow (Johnson, 2001. p. 137). As a result, adding an entrepreneurial mind to a company is very important because the company will be assured of its survival and growth. Starting up a new business has many challenges and it requires one to be persevering, otherwise his whole business idea can be wasted (Parboteeah, 2000, p. 47). We all have weaknesses because we are human, and my biggest weakness is impatience as sometimes I feel like giving up. Also am not very good in multi-tasking since I feel that I have to accomplish one mission before venturing into another one. Moreover, I hate working under pressure because too much work may make me feel discouraged and instill a feeling of despair within me. I have paid for this weakness sometimes, however I have learnt to keep pushing on even when things seem very difficult (McFadzean, O'Laughlin & Shaw, 2005, p. 372). The most important strategy to the success of in business is to cultivate a positive attitude within you (Johnson, 2001. p. 140). Change all the self talk within you to appropriate positive talks that will drive you towards the attainment of your set goals. Focusing particularly on the lack of the ability to work under pressure, this might be due to laziness and the fear of stress. Stress comes as a result of one feeling that he does not have the capability of handling that amount of work. Stevenson, & Lundstrom (2002, p.235) explains that it is possible to overcome this through a change of attitude and putting more focus on the benefits that will be realized. In addition, positive attitude will enable you to overcome impatience by giving you a sense of waiting (Stevenson, & Lundstrom, 2002, p.246). Time solves so many problems, and if appropriate strategies are employed in the pursuit of anything, definitely with time the results will come to pass. When you feel that you lack the will to carry on, just focus on the satisfaction you will have by attaining your goals. Furthermore, having focus is very important in business however, it should not bar you from pursuing other opportunities. You can instill multi-tasking in you by looking at other available opportunities from a positive perspective (Rae, 2006. p.323). One should though ensure that whatever they engage in, they give it their best. The most interesting role to play in a group is the leading role because in that position you are exposed to many ideas (Cartwright, 2008, p. 59). A leader in a group is expected to fully understand the group’s mission and guide the group towards the realization of their vision. In order for one to lead effectively, he has to plan and identify the most appropriate strategies of reaching the desired goal. The feeling that everyone looks up to you for guidance, makes one to feel great and even work harder. Sadiraj, Tuinstra & Frans (2005, p. 271) suggests that if you effectively lead a group, you will earn much respect and recognition, which in turn gives one a lot of satisfaction. I can take up a motivating role as well because of my focused nature. The determination that I possess does not allow anything to come in between me and my vision (Sadiraj, Tuinstra & Frans, 2005, p. 381). Sometimes group members may lose focus and start drawing away from their set goals. I believe that by talking to them regularly and showing them how much their vision is achievable, it will motivate them. When talking to them, show the group how near they are to the attainment of their goals. Cartwright (2008, p. 61) asserts that by simplifying your ideas and making them as realistic as possible, it will instill a spirit of fighting in them. The least likely role am likely to play in a group is recording a group’s activities. To record what a group does may restrict me from taking part in every aspect that a group discusses. It needs one to concentrate and record every single detail that a group discusses (Cartwright, 2008, p. 65). I just feel that during the recording process I might miss out on an aspect which may be of interest to me. Moreover, this may be worsened by the fact that I am not a very fast writer and I might miss to record all the discussed events. From my understanding, I think I can play roles that involve talking in a group better as compared to others (Sadiraj, Tuinstra & Frans, 2005, p. 303). In conclusion, entrepreneurship is a very important aspect in our contemporary societies. Currently, a lot of people are in search of job opportunities and through entreprenualship this problem can be solved. Different nations should encourage this move because this is how a nation can develop through exploitation of different opportunities. Starting up a new enterprise however requires one to be very determined due to the risks and challenges that may be involved. Many businesses have failed as a result of lack of perseverance from entrepreneurs who give up in the process. For a business to succeed it needs proper consolidation of ideas, as well as the adoption of appropriate strategies of attaining the desired end. Lastly, it can be said that entrepreneurship has a lot of emphasis on innovation, which is very critical in the growth of a nation. References Cartwright, D 2008, Achieving change in people: Some applications of group dynamics Theory1, Group Facilitation, (9), 59-65. Johnson, D 2001, What is innovation and entrepreneurship? Lessons for larger organizations, Industrial and Commercial Training, 33(4), 135-140. McFadzean, E., O'Laughlin, A and Shaw, E 2005, Corporate entrepreneurship and innovation part 1: the missing link, European Journal of Innovation Management, 5(3), 350-372. Parboteeah, K 2000, Choice of type of corporate entrepreneurship: A process model, Academy of Entrepreneurship Journal, 6(1), 28-47. Rae, D., 2006, Entrepreneurial learning: a narrative based conceptual model, Journal of Small Business and Enterprise Development, 12(3), 323. Sadiraj, V., Tuinstra, J., & Frans, V., 2005, Interest group size dynamics and policymaking, Public Choice, 125(3-4), 271-303. Stevenson, L., & Lundstrom, A., 2002, Beyond the Rhetoric: Defining Entrepreneurship Policy and Its best Practice Components. Orebro: Swedish Foundation for Small Business Research, 7(3), 235-246. Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Enterpreneurship Essay Example | Topics and Well Written Essays - 750 words”, n.d.)
Retrieved from https://studentshare.org/business/1450178-enterprise
(Enterpreneurship Essay Example | Topics and Well Written Essays - 750 Words)
https://studentshare.org/business/1450178-enterprise.
“Enterpreneurship Essay Example | Topics and Well Written Essays - 750 Words”, n.d. https://studentshare.org/business/1450178-enterprise.
  • Cited: 0 times

CHECK THESE SAMPLES OF Entrepreneurship in Our Contemporary Societies

Questions on Sociology

Different sociological theories have been developed by various scholars and the majority of them mainly focus on aspects such as gender, race, ethnicity, culture and their impact on social perspectives on human relations in different societies.... However, all the positivist theories to sociology are not that positive in different societies since it can be seen that some groups are not equal partners in various societies as a result of various factors....
5 Pages (1250 words) Essay

The Invention of Enterprise

Invention of Enterprise outlines a definitive visual for those who seek an understanding of innovative activities core positions in our world.... Invention of Enterprise gives a posted contribution to our emerging comprehension of entrepreneurial activities in past context and is in point worthwhile to people who have an interest in particular rich episodes that are little known.... Invention of Enterprise gives a posted contribution to our emerging comprehension of entrepreneurial activities in past context and is in point worthwhile to people who have an interest in particular rich episodes that are little known....
6 Pages (1500 words) Book Report/Review

Technical Entrepreneurship and Bill Gates Growth as a Technical Entrepreneur

Technology entrepreneurship in the current corporate world is a key pillar in the context of prosperity in firms, businesses, and companies.... It is important to note that technology entrepreneurship in modern times has become more advanced because it has been linked to the theory of the firm, the management theory, and the aspects of management.... The paper 'Technical entrepreneurship and Bill Gates Growth as a Technical Entrepreneur ' is an impressive example of the management case study....
16 Pages (4000 words) Case Study

Entrepreneurs who Informed by the Management of Projects

Different societies have varying definitions of entrepreneurship, that is, the history of entrepreneurship in India may differ to the history of entrepreneurship in s country like Nigeria.... For example, the etymology of entrepreneurship in a country like Nigeria occurred when the levels of goods produced superseded the level at, which such goods were consumed among the populace compelling the society to engage in a barter trade system (Bridge, Neil & Cromie, 2003)....
8 Pages (2000 words) Term Paper

Impacts of Class, Gender or Ethnicity on Employment

Women are receiving comparatively fewer wages, salaries and other benefits than men and they are continuously facing barriers to get education and professional training due to the gender biases in many societies which will impact in a negative way on the employment opportunities provided by those organizations which exist in that society.... The above graph shows the proportion of the population living below the contemporary threshold level of income in the UK....
10 Pages (2500 words) Term Paper

Entrepreneurism, Neoliberalism, and Governance in Contemporary Society

Enterprise is an important engine for the growth of national economies in modern times and in our generation.... Enterprise is an important engine for the growth of national economies in modern times and in our generation.... Hence, they ask for the concept of governance and governmentality to be expanded to include the main entrepreneurship in controlling national affairs and economic matters in various liberal economies around the world.... The paper "Entrepreneurism, Neoliberalism, and Governance in contemporary Society" is a good example of coursework on social science....
14 Pages (3500 words) Coursework

The Nature of the Neutral Question

During our current generation, the neutral answer to the same question is no.... Indigenous people's entrepreneurship concepts differ from the Western entrepreneurship culture (Vaughan, 2013).... This paper 'The Nature of the Neutral Question" focuses on the fact that a neutral question requires a true or correct answer....
6 Pages (1500 words) Essay

The Historical Aspects of Leisure

In the lecture, we were asked to describe in our own words what leisure entails.... In the lecture, we were asked to describe in our own words what leisure entails.... In the lecture, we were asked to describe in our own words what leisure entails.... in our free time, we are completely independent of the tasks and activities that we conduct in our daily lives.... The rapidly changing climate that characterizes today's global operating environment and the multi-cultural nature of today's societies means that technology and cultural exchange plays a significant role in determining the nature and extent of pleasure in the future....
4 Pages (1000 words)
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us