Entrepreneurship Essay 2022

Entrepreneur
ship
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This essay will bring out a discussion on entrepreneurship that creates business, bears most risk
and also enjoys most of the rewards. An entrepreneur is seen as innovator of new ideas, goods,
businesses, and services. Entrepreneurs play an important role in the economy, which has the
ability to generate such ideas that could solve the problem of person by availing them such
products1. People who have skills and procedures in necessary anticipated future and current
needs by bringing by taking the risks for any start-up that rewards profits. This essay describes
the relevant main concepts of entrepreneurs and how it is relevant to become an entrepreneur
especially when related to realm of healthcare. Furthermore, it will analyze principles of
entrepreneurship leadership with the application of key concepts in discovery, strategy, and
market assessment2. It further analyses how it will move to the entrepreneurship opportunities
with an aim to implement to know how it is important to refine and convey concepts, attract
stakeholders with the inclusive of high performing teams, develop business plan, and
entrepreneurial ventures. Further, it is important to know the steps through which it will be able
to develop and create several skills for new entrepreneurship ventures3.
What makes the art of entrepreneurship so effective, purposeful, flexible, and also autonomous is
its nature and priorities. Entrepreneurs want them to be always own boss, control the
performance, run the business, and analyze the results. They have the power to recognize
organizational success of failure resting, do not see the responsibility as a burden, and mark
freedom. Most entrepreneurs realize that they are not going to become billionaire but there are
1 Venkataraman, Sankaran. "The distinctive domain of entrepreneurship research." Seminal Ideas
for the Next Twenty-Five Years of Advances. Emerald Publishing Limited, 2019. 5-20.
2 Bosma, Niels, et al. "Global entrepreneurship monitor 2015 to 2016: special topic report on
social entrepreneurship." Available at SSRN 2786949 (2016).
3 Maier, Michl Sebastian. Corporate diversification strategies and their effects on firm
performance-the case of Samsung's venture into healthcare. MS thesis. BI Norwegian Business
School, 2017.

some magic bullets. With the enhancement of the healthcare industry, technology has been
improving widely available passion and risk taking nature. Healthcare industry open huge
success and opportunities for entrepreneurs4. In this sector, value driven business models have
been looking for efficient improvement growth perspective and services that require
entrepreneurship talent and disruption. This transformational forces can innovate business model
which traditionally providers cannot deliver. Several companies have been directing into
healthcare and adjacent fields, which are led by the entrepreneurs who can see the value of
emerging market. Healthcare organizations have been becoming numerous and also it experience
great level of competition. Market incentives are forcing MBA professionals and investors to get
into the healthcare industry as they are open to the new and innovative ideas and other
technologies5. Healthcare has been directive and open to the industry that embraces their patients
as consumer mindset. Traditional clinical models such as fee for services model healthcare, and
making of the money where the patients are run away. New emerging population management
models reward healthcare providers to keep the patients healthier that are opposed to allow them
to make money off for the sick person. Preventing illness is the key to avoid useless treatment is
a policy where population management models rewards healthcare providers to keep the patients
healthier. Healthcare workers attempt to work to introduce the shifts that can lead to health
preserving measures, systems, techniques such as fitness apps, and wearable technologies.
Entrepreneurial minded professionals have been applying analytical and predictive data to
continue healthcare needs of a community in ensuring adequate and intensive care. It makes
4 Parker, Simon C. The economics of entrepreneurship. Cambridge University Press, 2018.
5 Venkataraman, Sankaran. "The distinctive domain of entrepreneurship research." Seminal Ideas
for the Next Twenty-Five Years of Advances. Emerald Publishing Limited, 2019. 5-20.

statistical predictions for care which is required next. These are exposed to inefficient correction
in the traditional healthcare by making new models on the basis of work.
Entrepreneurs are charismatic and transformational leaders where it include numerous academic
fields, fields of leadership, strategy and entrepreneurship. When management wants its members
to get things done from others. Leadership should define social, formal and informal sources,
which can use it to inspire several actions opted by others. It helps to mobilize others so that it
can achieve goals with the help of great leaders that build up company`s human capital which
can motivate persons to take particular actions. Leadership is inclusive of understanding of how
it can use formal sources of authority and power. For instance- P&G avails a current illustrations
that focuses on shifting leadership, which is the main key principle of management. P&G recruits
and promotes individuals that can demonstrate success under the influence of direct and
coercive. A good leader and leadership will always important, useful principle of the
management, and valuable for inspiration. While defining the principle of management,
leadership and entrepreneurship, it is important to answer “who”, “what”, and “how”.
Entrepreneurship organizations and good leader are fanatical finding several opportunities and
solve issues for every organization6. Some of the important principles of entrepreneurship are
decision making, risk taking, solution provider, visionary, selection of right team, value creation
of products and services, accountability, capital, know the customers, marketing and growth,
never give up, and priorities. In regards to the medical sector, it is seen that there are some top
medical innovation such as hybrid closed loop insulin delivery system, foot therapies, gene
therapies for the inherit retinal diseases, emergence of distance health, generational vaccine
platforms, artificial intelligence, block chain for healthcare, internet of medical things, breast
6 Levie, Jonathan. "Global Entrepreneurship Monitor Scotland 2014." (2015).