Role and Contribution of Entrepreneurs in the UK and US | Desklib

Entrepreneurship
In
Business

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Examine the characteristics and the role of entrepreneurs..........................................................1
Critically evaluate how entrepreneurs have contributed to a country of your choice.................3
Critically evaluate how the country of your choice contributes to entrepreneurship..................5
Use at least two real world relevant examples from well-known entrepreneurs. These should
be used to support your points and arguments............................................................................6
Provide a concise and well researched argument utilising current literature..............................8
CONCLUSION................................................................................................................................9
REFRENCES.................................................................................................................................11

INTRODUCTION
Entrepreneurship is considered as a procedure of launching, designing and running a new
business unit which can be a small business. The person who run these types of are known as
entrepreneurs. These peoples are always looking for an opportunities so that they can grab it and
earn profit successfully (Ács, Szerb and Autio, 2016). Entrepreneurship are generally for four
types i.e. small business, scalable start ups, social entrepreneurs and large companies.
Entrepreneurs decide their business type on the basis of their objective of running a business.
This is so because there are some entrepreneur who start business for generating profit whereas
some run it for only serving society on non profit motive. Around the world there are numbers
of entrepreneurs such as Steve Jobs, Mark Zuckerberg, Bill Gates, Sergey Brin and Larry Page,
James Dyson, Samuel Moore Walton, Jeff Bezos and many more.
The main aim of conducting this research is to gather knowledge about the different
entrepreneur of United Kingdom and United State. Entrepreneurs selected for this report are
Mark Zuckerberg who is from United State and Mike Ashley who belongs from United
Kingdom. Marks Zuckerberg was born at 14th May 1984 in New York, United State. He is a
internet entrepreneur, known for co-founder and leader of Facebook. On the other hand, Mike
Ashley was born at 9th September 1964 in Staffordshire, England, United Kingdom. He is known
as the CEO of Sports Direct (Asongu and Tchamyou, 2016). Topics which are included in this
report are characteristics and role of entrepreneurs, how they contribute to country growth and
how selected entrepreneurs will economy of country. Along with this, it will also include real life
example of entrepreneur and succession story as well as it will also include arguments related to
it. Report will also different diagrams, pictures and graph which shows growth of country due to
entrepreneurs.
MAIN BODY
Examine the characteristics and the role of entrepreneurs.
An entrepreneur is an individual who develop a new business by taking a number of
financial risks in the hope of gaining profit. Entrepreneurs are generally seen as a source of new
ideas, creators and business producers (Thurman, 2016). There are number of characteristics of
an entrepreneur.
Characteristics of an entrepreneur
1

Self motivated: It is consider as one of the most strong characteristic of an entrepreneur.
They are generally dedicated to their plans and keep moving forward even if they are not getting
any pay checks. As an entrepreneur it is not necessary to be answerable to anyone, only self
motivation is the key to run a business independently.
Take risks: A successful entrepreneur knows that it is important to take risks in some
situations arising in the business (Bouncken and Reuschl, 2018). Being a business owner,
playing safe not always lead to success. For example, Mark Zuckerberg who is the co-founder
and leader of Facebook, have this particular characteristic of taking risk which leads him to
achieve success.
Networking: Developing relationships is an essential part of being an entrepreneur. The
ability to connect with others and to analyse partnership opportunities is the key to create a
successful business.
Money management: As an entrepreneur it is important to have money management
skills and knowledge in order to lead a business successfully and to manage all the financial
factors of organisation (Tamásy and Diez, 2016).
Passion: Mostly all successful entrepreneurs are passionate about their work and
responsibilities. It help to find motivation and help them to move forward.
Role of entrepreneurs:-
Entrepreneurs generally attain a central role in overall market area. However, an
entrepreneur plays a number of roles. Some of them are given below:
Initiator: The one who initiate a particular process in an organisation is Entrepreneur.
The main role of an entrepreneur is to come up with and idea and to plan strategies in order to
implement it.
Risk taker: Being an owner of a business, entrepreneur is the biggest risk taker. It is
responsibility of an entrepreneur to face the failures in an organisation and to develop some
alternatives in order to compensate loss which is happened in the business (Burnett and Danson,
2017).
Eliminates errors: It is one of the most important role of an entrepreneur to eliminate
errors and risks in an organisation. It can be done by introducing new skilled an talented
candidates in an organisation who help the company to grow.
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