Entrepreneurship in Business

Entrepreneurship in
Business

Table of Contents
INTRODUCTION...............................................................................................................1
MAIN BODY.......................................................................................................................1
Characteristics and role of entrepreneurs.....................................................................1
How Entrepreneurs have contributed to United States.................................................3
How United States contribute to entrepreneurship.......................................................5
Two real world examples from the well- known entrepreneurs.....................................7
CONCLUSION...................................................................................................................8
REFERENCES..................................................................................................................9

INTRODUCTION
Entrepreneurship is extraction or creation of the value. This is an activity to
setting up business that taking on the financial risks in context to profit. The
entrepreneurship is process of designing, launching and also running new business.
This is an act for seeking an investment as well as production related opportunities that
helps in developing the business venture to undertake the production function. It is
willingness and capacity to create, organise and also manage business venture with risk
to make profit. An entrepreneurship is not to be confined to beginning new business but
this is all about facing the challenges (Monitor, 2016). This is necessary tool for bridging
gap among marketplace and science where new company is mainly developed and the
new goods are to be brought to market. People who mainly create businesses are
referred to as the entrepreneurs. It is an individual that develops new business, bearing
risk and also enjoying most of rewards. They mainly prove to be more successful in
taking on risks of start-up that rewarded with the fame, profit and also continuous
opportunities. Entrepreneur can identify commercial potential of invention and also
organise talent, capital and the resources which turn invention to innovation. It is
necessary that entrepreneur should have the effective skills and abilities to running the
business in successful manner. In this report, Jeff Bezos and Bill Gates are two
different entrepreneurs considered. There will be considered about the characteristic
and role of the entrepreneurs. United Stated contributes to the entrepreneur will be
discussed in detailed manner (Kuratko, 2016).
MAIN BODY
Characteristics and role of entrepreneurs
Entrepreneur is a person that develops new business, bearing more risk and
enjoying more rewards. This is seen as innovator, goods, services, source of the new
ideas and business. An entrepreneur begins and run business with the limited
resources and responsible for all risks of business venture. Entrepreneurs plays
necessary role in an economy, using skills required to be anticipate requirements and
bring the new ideas to marketplace. They prove to be more successful in taking risk to
start up are to be rewarded with the fame, profit and the continuous growth related

opportunities. Entrepreneurs mainly face several obstacles when developing firms such
as overcoming the bureaucracy, obtaining financing and hiring the talent
(Venkataraman, 2019).
Jeff Bezos and Bill Gates are the most successful entrepreneurs. They plays a
necessary role in making the business successful at the large scale. The characteristics
and role of both entrepreneurs are mention below:
Knack for innovation- Jeff Bezos has been innovator for long as he can be
remember. From creating sound alarm to be guard room against annoying the siblings
in order to develop the identified e- retailing website, hunger of Jeff Bezos for
developing the something new has escalated with the time. The drive for developing
ingenious of Jeff Bezos has intensified with the proper time. The innovative skills led
online portal to given everything a person hope for. This entrepreneur identified
upheaval is famed E-book device Kindle that designed to be compete against Apple
iPad ( Parker, 2018).
Motivation- It is will to attain the certain things. Bill Gates are driven to be make
business more success and also push themselves. To enhance the motivation, an
entrepreneur can begin through setting the small objectives. These can assists to reach
at the goals and also encourage to aim at the higher. It is necessary to identify work that
attained already and also celebrate results.
Ability to network- Ability to connect with the people and identify opportunities
for the partnership is necessary to be an entrepreneur. Meeting with the new people
help in facilitate the access to the knowledge or resources that business requires. This
permit to learn from success of the others, promote services and products and also
meet with the new customers. To make improvement in networking skills, an
entrepreneur should try to develop the genuine relationship (Burns, 2016).
Result-Oriented- Through the Microsoft developed and Bill Gated hired the
several professionals but after that rewrote and reviews codes firm mainly used to be
release. The result and also quality oriented behaviour of Bill Gated made him to be pay
heed to minute details and it led to firm to develop the quality software.
Vision- Best entrepreneur have the vision as to what they mainly want to be
attain and in which manner they can attain objectives. This will help in reach at the