Entrepreneurship: Theory, Characteristics, and Motivation

ENTREPRENUERSHIP

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Entrepreneurship refer to the process of developing of ideas and innovation into the work and
putting all the efforts in developing the idea to be successful and get rewards as profit making.
The report will explain the theory of entrepreneurship and the ways the entrepreneurship can
help a person in development in business. Further the report will explain the characteristics of the
entrepreneurship and the motivation.
MAIN BODY
Entrepreneurship: - Entrepreneurship refer to the process of developing the idea and innovation
into a business and making a new start-up of the ideas and actions on a particular product and
service.it is a creation or extraction of values. It is a process of designing process, launching and
running of new business. One of the worlds best example of entrepreneurship is Jeff Bezos. He is
one of the top richest man in the world and he is a role model for millions of entrepreneurs.
Entrepreneurship theory: -
Entrepreneurship theory refer to the theory explaining the importance and the ways to make
things better in the entrepreneurship. Theories of entrepreneurship focus on the three major
factor, nature of the opportunities, the nature of entrepreneur and the nature of decision-making
framework where the entrepreneur functions.
Innovation Theory of Entrepreneurship the theory of profit is proposed by Joseph. Joseph
believe that every entrepreneur can earn good profit and economic profit by introducing
successful innovation (Malecki, 2018). The main function of the theory is to explain that
entrepreneur function is to earn more profit with the innovation and introduction of innovation in
profit making. The rewards which cam out of the innovation is the profit and that is for which the
theory explain. It is important to understand the value of innovation in the management and
entrepreneur works on the innovation. The second category of the innovation include activities
which include and influence the demand of the product and services company offering. The
theory explains that the working in the entrepreneurship process on the rewards and the
dedication a person has on his innovative idea. Entrepreneurship works only on the idea and the
dedication a person on the idea and the effort they put on the innovation idea.
The innovation theory of profit posits the gains of profit and innovation is successful in the cost
of production and increasing of profit for product. The profit can be also for a longer period of
time for the entrepreneur, they just need to be patient towards the idea and need to give time to
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