Answer to Question #181018 in Management for Likuwa laurentius

Question

Evaluate the entrepreneurship ecosystems concept within context of the seven parameters of the General Systems Theory. 100 marks please urgent help is needed.

Answer 1

Answer.

Ecosystems approach is of high interest when trying to understand entrepreneurship.It consist of the interdependent actors and factors that constrain entrepreneurship in a given territory. The general system theory is based on the assumptions that there are universal principles of organization. The principles and parameters hold for all systems. They can be either chical,mental,biological or social.It is viewed in seeking .In relation to entrepreneurship, the focus is broadly applicable in concepts and principle as opposed to principle specific to one domain of knowledge.

There are several components of entrepreneurial ecosystem concept.They include input which refers to anything allowed to enter the system.Throughout on the other hand refers to process that converts the input into final product.Output in entrepreneurship refers to the final service or product provided by the system. Feedback refers to the process of monitoring outputs in order to determine whether a system is working or not.Then there are the components of controls ,environment ,goals and mission.

The entrepreneurship ecosystem has three main characteristics. The first one is organization which refers to order and structure. Interaction is another characteristics which refers to the manner in which each component function with other ones in the system. Interdependence is another essential part that involves depending on each other.Lastly,there is integration which refers to the holism of systems.All that is an evaluation of entrepreneurship ecosystem.