Answer to Question #219638 in Management for LASHLEY

Question

Entrepreneurship play an important role in the creation and growth business as well as the growth and prosperity of regions and nations.
Discuss the above statement with reference to entrepreneurial opportunities,action and thinking
Discuss any 8 factors 4 for each theory that explain the DNA of an entrepreneur

Answer 1

Entrepreneurial opportunities are situations where services and products, when selling, is usually at a higher price compared to the production cost. Entrepreneurs can take action to make a profit, through an entrepreneurial opportunity

1. One should have deep knowledge. That is, of technology and business in general.

2. Hardwork. This implies the ambition to build something big and also, discipline.

3. Intelligence. Ability to communicate well and absorb information fast.

4. Network. This is about who you know.

5. Safety. This is about having savings that can last you.

6. Bias to agility and action. This is experimenting until one gets results.

7. Innovation. The entrepreneur desires to do a new thing and takes pleasure of creativity.

8. Behaviour. The entrepreneurial development of a society is dependent on the exiting and past economic social aspirations.