Entrepreneurship: Importance, Innovations, and Contribution to Economy and Society

Entrepreneurship
Assessment

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY ..................................................................................................................................1
About the entrepreneur................................................................................................................1
About Entrepreneurial Organisation: ..........................................................................................4
About Contribution to Economy and Society..............................................................................6
CONCLUSION................................................................................................................................9
RECOMMENDATION ..................................................................................................................9
APPENDIX ...................................................................................................................................10
REFERENCE.................................................................................................................................11

INTRODUCTION
Entrepreneurship refers to process of introduce new business which is small in size and
has capacity to develop or manage business venture along with risk taking to generate profit. The
person who introduce new idea and bear risk for making profit is entrepreneur. Entrepreneur and
entrepreneurship is importance of any country as they bring innovation in country. They also
create job opportunity in country and boost growth of economy by generating wealth, increasing
export. To be successful, entrepreneur require to develop different strategy which helps them to
face diversity of market. Entrepreneur needs to play different roles in organisation which helps
them to be successful.
Dyson Ltd is a UK based organisation established in the year 1991 by James Dyson. This
organisation provide household appliances in market like vacuum cleaner, hair dryer, air purifier,
heater, hand dryer etc. The company has more than 12000 employee and is providing their
product in both online and offline stores. The entrepreneur bring innovation in market and is
contributing in research & development in country. The project report include identification and
analysation of theory and concept of entrepreneurship, elements of entrepreneurial activity and
role of entrepreneur. It also include recognition process of entrepreneur, application of enterprise
skills in evaluating entrepreneur business.
MAIN BODY
About the entrepreneur
Critical discussion of personality traits of the entrepreneur
James Dyson is a British entrepreneur, inventor and founder of Dyson Ltd. James born on
2nd may 1947 at Cromer, Norfolk in England. Schooling of James is done at Gresham's School
which is a boarding school in Norfolk. James studied furniture and interior designing in Royal
College of Art and designed his first invention of sea truck. The key personality trait of James
Dyson are as follows:
Motivator: James Dyson is an effective motivator and motivates entire team to work
efficiently. Motivation helps them to put efforts of for the success of whole team in one direction
(Basco, Calabrò and Campopiano, 2019). Efforts of whole team contributed to reach milestone
they have design. Quality of entrepreneur to motive team can lead them to gain success. As there
are 12000 employees who are highly motivated working for success of Dyson Ltd.
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