Entrepreneurship Analysis: Theoretical Concepts, TESLA Business, and Social Impacts

Entrepreneurship
Analysis

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Entrepreneurship as a concept................................................................................................1
Theoretical Concepts and Models of Entrepreneurship.........................................................1
TASK 2............................................................................................................................................3
Analysis of TESLA business..................................................................................................3
Concepts and theories to uncover characteristics of Martin Eberhard and Marc Tarpenning3
Social Entrepreneurship TESLA by Martin Eberhard and Marc Tarpenning........................4
Ethical and social impacts of TESLA on the global level......................................................5
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................7

INTRODUCTION
Entrepreneurship refers to the ability and willingness of an individual to organize, establish
and operate an entity while taking risks and handling uncertainty to generate profits. The
entrepreneurial activities are very important within an economy for its development and growth.
The following report consists of two parts which will be elaborating about entrepreneurship with
the help of analysis of an organization. The first part of the report will be demonstrating the
concept of entrepreneurship with the help of various theories, concepts and models of
entrepreneurship. The second part of the report will be demonstrating the analysis of Tesla,
which is an automotive company that was established in the year 2003 and is headquartered at
Texas, United States. Furthermore, it will be demonstrating the concepts and theories to uncover
the characteristics of the owner of Tesla. It will also discuss the entrepreneurship type that is
visible in the practice of Martin Eberhard and Marc Tarpenning and the ethical and social
impacts of Tesla on a global level.
TASK 1
Entrepreneurship as a concept
Entrepreneurship can be defined as the ability and willingness to create, plan, organize,
operate and establish a business entity and undertake risks and tackle uncertainties with the aim
of earning profits. In economics, entrepreneurship is explained as the use of land, labor, finance,
raw materials and capital by an individual to establish a profitable business by taking risks and
innovating for change. The main characteristics of entrepreneurship are identified as the ability
to take risks, innovation, vision and leadership quality, open mindedness, flexibility and the idea
of business (Audretsch and Moog, 2022). Entrepreneurship is important within an economy
because it helps to generate employment, innovation, social and community development,
increases welfare, enhances research and development activities.
Theoretical Concepts and Models of Entrepreneurship
It is a universal fact that entrepreneurship activities have a significant contribution towards
the economic development of a country (Claire, Lefebvre and Ronteau, 2020). The entrepreneurs
are the risk bearers and innovators who create opportunities for growth and development of the
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