Entrepreneurship: Characteristics of Evan Spiegel and Impact of Snapchat on Society

Entrepreneurship

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Critical review of entrepreneurship as a concept.........................................................................3
TASK 2............................................................................................................................................4
Draw on concepts and theories to consider the characteristics of the chosen business owner
and the emergence of his/her business idea.................................................................................4
Reach a conclusion about whether this person is an entrepreneur and, if so and determine the
type of entrepreneur they are (e.g. business, social, etc.)............................................................5
Comment on the ethical and social impacts of the selected venture on a global scale................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Entrepreneurship is a process that involves identifying opportunities and new business
ideas in order to start up new business venture. Entrepreneurs takes financial risk and business
innovations in order to attain business growth. In the context of Snapchat which is a messaging
application and service development company. It is initially developed as Snapchat Inc.,
featuring picture filters, videos and texting. The application is also focus do with delivering
person to person photo sharing and texting features in real time. Snapchat was founded by Evan
Spiegel, Bobby Murphy and leggy Brown founded in the year 2011. This report talks about
review of entrepreneurship as a concept, concept and theories to determine the characteristics of
the chosen business owner and the emergence of his business idea, type of entrepreneur the
business owners, ethical and social impacts of business venture (Alvarez and Barney, 2020).
TASK 1
Critical review of entrepreneurship as a concept
Entrepreneurship is a process that includes discovery, assessment and exploitation of
opportunities. In simple terms and entrepreneurship can be defined wherein a person who is
called as entrepreneur who comes up with new ideas and innovations, production process, new
strategies into the market environment that did not previously exist. Entrepreneurship is that
process that can be determined as identification of new opportunities and establishing of new
economic activity often via development of a new organisation. Entrepreneurship is a key
activity that also drives number of merits in the society by the way of driving business success
and economic values, further produces employment, mobility of resources and drives other
society and economic development in the society. There are four elements that of crucial in
entrepreneurship it involves innovation, organisation, risk and vision. An entrepreneur has to
manage all key elements for turning the business ideas into business success. Entrepreneurship is
coined around earning profit and other business motive by offering products and services to the
customers. An entrepreneur has to analyse the needs and wants of the society, manage
relationship with stakeholders and continue bringing innovations in the business till the business
accomplish success (Audretsch and Moog, 2020). Thus, it can be said that entrepreneurship is in