Analysis on Entrepreneurship and their Business Ventures

Entrepreneurship
Analysis on Entrepreneurship and their Business Ventures
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Entrepreneurship
Table of Contents
Introduction......................................................................................................................................3
Entrepreneurial traits / characteristics.............................................................................................3
Opportunities recognition and idea development process...............................................................4
Competitive advantages...................................................................................................................5
Recommendations............................................................................................................................6
References........................................................................................................................................7
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Entrepreneurship
Introduction
Entrepreneurship is an activity that encompasses launching, establishing and designing new
business by an individual or a group of people known as an entrepreneur. The study focuses on
identifying the diverse traits of entrepreneurs that lead them to gain success in the business. In
order to provide wide informative knowledge on the topic, assistance from a renowned
entrepreneur name, Mark Zuckerberg, founder of Facebook number one using social media
destinations has been considered. Different kinds of opportunities and obstacles that are faced
by entrepreneurs during the time of operating business have been exhibited in an authentic
manner. Hence, the study explains that effective strategies that adapted by respective
entrepreneurs may lead them to gain competitive advantage in the market.
Entrepreneurial traits / characteristics
Undoubtedly, Mark Zuckerberg is a role model for the upcoming or to-be entrepreneur’s
generations. The personality developed by him is perfect for playing the role of budding
entrepreneurs while identifying values of opportunity-based entrepreneurship theory in order to
trigger success and growth of business in a changing environment. Some of the personality I feel
that are required to develop in every entrepreneur is discussed below portraying Mark
Zuckerberg:
● Zeal to make ideas into reality
As an entrepreneur, Mark Zuckerberg is tremendously passionate about its ambitions and work
that accentuates Psychological entrepreneurship theory. He identifies the requirement of
connectivity and society as well as visualized suitable technology that can be applied in order to
bridge the channel. Hence, using advanced technology of Internet of Things (IoT) he took steps
that lead him towards success. It has been observed that his passion for technology motivated
him to develop messaging program named, Zucknet using Atari BASIC.
● Set business goals for a higher purpose
Mark Zuckerberg was with a mission of connecting the world from different corners. Keeping
the main purpose and aim of the business in mind as well as following Economic
entrepreneurship theory, he dedicated focus toward creating a product that would serve high
purpose to the society (Terjesen et al., 2016). Adapting this trait, I believe that an upcoming
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