Entrepreneurship Theory and Practices

Entrepreneurship theory and
practices

Table of Contents
INTRODUCTION...........................................................................................................................3
Discovery and creation of entrepreneurship................................................................................3
Effective exploitation of opportunities........................................................................................4
Reflection dimensions..................................................................................................................8
CONCLUSION .............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Entrepreneurship refers to activity or conception of values. It is also viewed as changes,
generally beyond what would be normally resources are to needed before starting business.
Entrepreneur is an essential driver of economic innovation along with growth. They also create
few amounts of capital moreover labour in order for producing goods with their services in
earning huge profit (Bacigalupo and et.al., 2016). This report evaluate discovery and creation of
entrepreneurial opportunities. Also, analyze effective exploitation in firm level capabilities which
might be including market orientation, networking and technological etc. This report also explain
reflective of attitudes furthermore behaviours in developing more individual market.
Discovery and creation of entrepreneurship
Discovery theory:
This theory is most suggested for entrepreneur in forming their goals and objectives.
Also, helps in recognizing the best opportunities in contending imperfectness of market industry.
These might be assumed from changes in technology, preferences of consumer and some other
attributes within which their market is being exists. Discovery is mostly about search in scanning
environment for discovering new opportunities in producing goods and services. In this process
of searching they should consider with both duration and direction which they are following in
developing existing products and services at market place.
The assumption from this theory is directly made from concerning entrepreneur nature
which always follows up nature opportunities in achieving their goals and objective among their
market and try to create more brand image of their products which they are going to launch in
market (Upson And et.al., 2017). When decision is made they need to collect some market
information and anticipate outcomes that associated with that decisions.
Creation theory:
In these theory opportunities are not be assumed rather than they are created by actions,
with reactions and exploring different ways for producing goods and services to their targeted
customers. There might be not necessary outcomes involve in pre-existing markets or industry.
This creation process is clearly having path which is independently in some small variation
furthermore having more choice that can be lead to large differences over the time. As market,
they need to create various products with having more creation so by that any of customer will