Entrepreneurship in Business

Entrepreneurship in
Business

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
QUESTION 1:.................................................................................................................................1
The role of an entrepreneur.........................................................................................................1
Risk analysis...............................................................................................................................2
Innovation...................................................................................................................................2
QUESTION 2:.................................................................................................................................2
Analyse the essential elements of the entrepreneurial process...................................................2
QUESTION 3:.................................................................................................................................3
Prepare a business plan / proposal..............................................................................................3
REFERENCES................................................................................................................................5

INTRODUCTION
An entrepreneurship is a business organisation which is established by an individual or
group of individuals by exploring and developing an innovative idea for presenting something
new and more valuable in front of customers and the potential buyers (Karimi and Walter, 2016).
An entrepreneur is an individual Uber works on their ideas with creativity in order to render
something new to people. Present report will be considering different aspects of entrepreneurship
in business where detailed analysis is conducted over all the essential elements of entrepreneurial
process and then a business proposal is determined. The idea to establish an entrepreneurship
belongs to food and beverage industry where a new restaurant is being established which only
provides innovative and creative food and beverages addressing different cultures but are
prepared with organic and vegan ingredients.
MAIN BODY
QUESTION 1:
The role of an entrepreneur
An entrepreneur is an individual who sets up his or her business and grows it in
conventionally by incorporating and combining different factors in order to explore and create a
new profitable business venture. An entrepreneur please several different roles and holds number
of opportunities in order to attain their targets and render a new profitable business opportunity
to public and to themselves by creating a profitable business venture.
The vital role that an entrepreneur plays for their organisation or business venture is of an
initiator bye by bringing up and developing the process of creating an enterprise with a new
business idea as well as planning the whole process in order to turn the idea into a profitable
business venture. Another role played by an entrepreneur is of a risk taker and risk reducer. By
playing the role of a risk taker the entrepreneur is one who takes the most concerning risks in the
business such as of finding the capital investing it in the business assuring the investor by taking
up all the accountability.
In regards to risk reducer another paneer as the responsibility to payback in full to all the
stakeholders who have trusted in them and the business venture they are planning to or have been
working on to introduce in market. Hence reducing the risk to all stakeholders is one of the major
roles which are played by an entrepreneur.
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