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Paper on Concept on Entrepreneurship

   

Added on  2020-05-01

7 Pages1519 Words37 Views
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Entrepreneurship
Paper on Concept on Entrepreneurship_1

Entrepreneurship 2ContentsIntroduction......................................................................................................................................2Overview of the Enterprise..............................................................................................................2Frameworks explaining entrepreneurial activities...........................................................................3Management Function in Enterprises..........................................................................................3Issues encountered in diverse enterprises....................................................................................4Small business contribution to national economies across the world..........................................5Factors influencing business start up, growth and closure..........................................................5Critical analysis of organisational behaviour impacting the entrepreneurial orientation andmanagement.................................................................................................................................5References........................................................................................................................................6
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Entrepreneurship 3IntroductionEntrepreneurship can be defined as a process of running, establishing and designing a new andinnovative business which is usually small in nature that offers a service, process or product toinitially a small set of customers. The people or the individuals who develop and run these newbusinesses are known as entrepreneurs. Entrepreneurship is better understand as a willingness orcapacity of the individual (entrepreneur) to manage, organize as well as develop a businessventure by taking risks aiming to earn profits. An entrepreneur is also called as an innovator asan innovator is the one who brings new ideas and introduce changes in the existing operations orbusiness practices (Drucker, 2014). Therefore for being a good entrepreneur there is a need tohave an innovative business idea to come up with. The paper will understand the concept onentrepreneurship, management functions in small enterprises and issues faced by theseenterprises in respect with the selected organisation named Squid London. Overview of the EnterpriseSquid London was established in the year 2008 as an entrepreneurship effort of Viviane Jaegerand Emma-Jayne Parkes. The key and the innovative idea of entrepreneurship of Squid Londonwere offering the customers with colour changing rainwear, shower curtains and umbrellas. Theinnovative idea that soon fetched the attention of large number of masses was that as soon as thepanels come into contact with rain, there is a change in colour of the product. The key customerbases for the product are children and adults (Squidlondon, 2017).
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