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Starting a New Business : Assignment

   

Added on  2021-02-20

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Entrepreneurship
Starting a New Business : Assignment_1

Table of ContentsINTRODUCATION........................................................................................................................1MAIN BODY...................................................................................................................................1CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7
Starting a New Business : Assignment_2

INTRODUCATIONEntrepreneurship is a process of designing, launching and starting a new business. Theperson who create these businesses are usually called entrepreneurs. Moreover, they have thecapacity as well as willingness to develop, manage ans organise a business venture along withany of its risk in order to effectively earn profit. Moreover, entrepreneurship usually capturesinnovative activities on the behalf of established firms. This report is based on Lapo Elkann whois an Italian businessmen and grandson of Gianni Agnelli, the former CEO of controllingshareholder of Fiat Auto-mobile (Bruton and et.al., 2015). Lapo Edovard Elkann was born inOctober 1977. However, the outcome of this report will be based on factors which havemotivated Lapo Edovard Elkann in order to carry out his business operations effectively.Moreover, psychological, sociological as well as economic business theories will also beconsidered in detail. MAIN BODYFactors that motivate to become entrepreneurs.There are several factors which usually motivates an individual to become entrepreneurand carry out his/her business activities in the world. Every entrepreneur have their ownrespective journey which they carry on in order to start their companies. There is no one size fitstrategy or theory which works for all who wishes to be an entrepreneur. Furthermore, some ofthe major factor which motivates an individual to become entrepreneur are mentioned below:Passion: This is one of the most important factor which encourages an individual to carryout business operation and become a successful entrepreneur. Moreover, a person withstrong and barely controllable emotion usually becomes successful entrepreneur. Anentrepreneur should exactly know how to take calculative risks which involves a lot ofthings at stake (Fairlie and Lofstrom, 2015). Courage of taking risk usually comes fromfaith as well as passion to do something. Energy of passion usually takes businesses allover the world. However, success of a company is directly proportional to hard work aswell as determination of the owner. Self Reliance: An individual who have trust on himself becomes very successfully.Moreover, self reliance is yet another key which motivates as well as drive more than halfof the world's population towards entrepreneurship. Furthermore, one of the biggest1
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