Entrepreneurship in Business

Entrepreneurship in
Business

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
Examining characteristics as well as role of entrepreneurs in United States..............................1
Critically evaluating the ways entrepreneurs have contributed to economy of United States....5
Critically evaluation on the ways United States contribute to entrepreneurial development......7
CONCLUSION................................................................................................................................8
REFERENCES..............................................................................................................................10

INTRODUCTION
Entrepreneur is an individual who builds the idea and set up a business by taking financial
risks to make huge profits. These are often popular as source of new innovators as well as
bringing creative ideas in market through replacing existing ones with a new invention.
Entrepreneurship is the readiness to set, develop, organise together with run a venture with any
of uncertainties to make profits. It is all about staying committed to objectives beyond feelings of
excitement and willingly taking leaps, solving problems and working hard enough for making
sacrifices in dynamic business scenario (Acs, Szerb and Autio, 2017). In an economy,
entrepreneurship plays prominent function because entrepreneurs have the potential to improve
livings standards addition to create wealth for related businesses. The concept also drives
changes with creativity and innovation by enabling development of a market by new products.
People becomes entrepreneur for changing the world, generating employment, are ambitious,
have unique ideas and big dreams. To understand entrepreneurship in business, Jeff Bezos is the
selected entrepreneur for the assignment. Jeff Bezos is an internet entrepreneur, investor,
industrialist along with media proprietor. Bezos is popular for establishing a multinational
technology origination that is Amazon in 1994 as well as Blue origin in the year 2000. In history,
Jeff is the first personality to have net worth of nearby $200 billion. The personality also
purchased a major American newspaper that is The Washington Post and manages numerous
investments by the Bezos Expeditions venture business. The entrepreneur always looks for any
change, responds effectively towards it along with exploit the change as opportunity.
The assignment highlights characteristics addition to roles of entrepreneurs in an
economy. It also examines how the entrepreneurs contributes in an economy. At last, it covers
the ways an economy contributes widely in development of entrepreneurs.
MAIN BODY
Examining characteristics as well as role of entrepreneurs in United States
Entrepreneur is a person who possesses the ability to bring an idea into life in right
manner. The personality is always ready to face and deal all complex situation which might
come on their path for success (Akpan, 2020). For becoming success entrepreneur, it is
significant to have certain traits, knowledge and abilities for being persistent for innovation
together with progression. With talents and potentials, they are able to devise new ideas, putting
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pieces or elements together and emerge as winner. There are various characteristics and traits
that makes a person as entrepreneur. However, their thinking and working differentiate them
from others in the real business world. In this context, characteristics and roles of entrepreneurs
within United States are examined underneath:
Jeff Bezos:
Jeffrey Preston Bezos was born on January 12, 1964. The personality is popular as an
investor, industrialist and internet entrepreneur. Jeff had an early love of computers as well as
studied science and electrical engineering from Princeton University. Further, after completing
graduation, working of Wall Street have developed various skills and traits among the
personality. The successful enterprises established by the entrepreneur includes Amazon, blue
Origin and many more. The characteristics that makes Jeff Bezos unique in the business world of
United States are as follows:
Staunch experimentalist: An entrepreneur believes in innovating stuff as pet
requirements of a moment. For this, they constantly experiments with technology to build an
empire through their steadfast and reliable experiments (Berggren, Fili and Wilhelmsson, 2019).
In context to Jeff Bezos, the entrepreneur is a person who believes in innovation of stuff which
meets needs of the minute. This the characteristic of Jeff which constantly motivates for
performing experiments with technology addition to widely accepted E-Commerce venture.
Moreover, the personality has burning infatuation with experimenting as well as devising
something which complements desires with needs of customers. With this characteristic, Jeff
have transformed the venture that is Amazon from a book selling online company to greatest
internet market on the globe as the entrepreneur loves to experiment.
Risk taker: Starting a new company includes a considerable level of failure risk. An
entrepreneur requires to be courageous as well as able to evaluate together with take risks that is
essential characteristic of an entrepreneur (Bezerra, Borges and Andreassi, 2017). This
personality trait resembles taking high risks in calculated ways. In relevance to Jeff Bezos, the
personality took various risks to start the business of Amazon and hence forth. It is foremost
characteristic of Jeff that internally motivates for taking risks as to start the venture as it is not
possible to start any enterprise with taking considerable amount of risks. At same time, it is first
trait of an entrepreneur to bear impacts of all concerned risks with the venture.
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