Foundations Of Entrepreneurial Practice
Added on 2022-08-20
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Running head: FOUNDATIONS OF ENTREPRENEURIAL PRACTICE
FOUNDATIONS OF ENTREPRENEURIAL PRACTICE
Name of the Student:
Name of the University:
Author’s Note:
FOUNDATIONS OF ENTREPRENEURIAL PRACTICE
Name of the Student:
Name of the University:
Author’s Note:
FOUNDATIONS OF ENTREPRENEURIAL PRACTICE1
Introduction
Entrepreneurship is a concept that discusses either the ability to establish a budding
venture from incipient or subsisting conceptions, notions, or vision. It has a paramount
impact on replication to the vicissitudes in the gregarious and scientific underpinning with the
healthcare accommodation and its distribution system (Kuratko, 2016). The aspects of
healthcare and entrepreneurship are intertwined and there is a vigorous sodality between the
two concepts that have a more profound impact on the business practice. This is utilisable in
driving the healthcare and wellness industry, leading to an incrementation in the survival rate
of the population in a country. Entrepreneurship is verbalized to fortify the kineticism of the
healthcare industry in a forward direction, and thus, it evolved over time. The advancement in
the healthcare sector is due to early and innovative conceptions that avail in enhancing the
prospect of technology and quality of care in healthcare settings (Suryavanshi, Lambert &
Chan, 2019). The aim of the report is to develop an incipient and innovative entrepreneurial
conception and evaluation of several elements cognate to it. The notion that has been taken
into account is the Drone-distributed medical supplies that will be addressing the issue of the
circumscribed supply of medical resources in the healthcare system, which affects the health
of the population.
Discussion
Current issue
According to Saha and Ray (2017), drug, equipment, and medical supplies have a
profound impact on the quality of care and, thus, increment healthcare costs. The desideratum
for healthcare accommodations is vital for making precise and germane decisions or choice
of meeting the priority of healthcare need; consequently, constraining the prospect of wasting
the circumscribed resource in the healthcare sector. Many organisations have easy access to
Introduction
Entrepreneurship is a concept that discusses either the ability to establish a budding
venture from incipient or subsisting conceptions, notions, or vision. It has a paramount
impact on replication to the vicissitudes in the gregarious and scientific underpinning with the
healthcare accommodation and its distribution system (Kuratko, 2016). The aspects of
healthcare and entrepreneurship are intertwined and there is a vigorous sodality between the
two concepts that have a more profound impact on the business practice. This is utilisable in
driving the healthcare and wellness industry, leading to an incrementation in the survival rate
of the population in a country. Entrepreneurship is verbalized to fortify the kineticism of the
healthcare industry in a forward direction, and thus, it evolved over time. The advancement in
the healthcare sector is due to early and innovative conceptions that avail in enhancing the
prospect of technology and quality of care in healthcare settings (Suryavanshi, Lambert &
Chan, 2019). The aim of the report is to develop an incipient and innovative entrepreneurial
conception and evaluation of several elements cognate to it. The notion that has been taken
into account is the Drone-distributed medical supplies that will be addressing the issue of the
circumscribed supply of medical resources in the healthcare system, which affects the health
of the population.
Discussion
Current issue
According to Saha and Ray (2017), drug, equipment, and medical supplies have a
profound impact on the quality of care and, thus, increment healthcare costs. The desideratum
for healthcare accommodations is vital for making precise and germane decisions or choice
of meeting the priority of healthcare need; consequently, constraining the prospect of wasting
the circumscribed resource in the healthcare sector. Many organisations have easy access to
FOUNDATIONS OF ENTREPRENEURIAL PRACTICE2
drugs; there are immense numbers of the organisation that have less information cognate to
essential medical supplies. There are various brands available in the market for offering
medical supplies and equipment to operate; however, the circumscribed accessibility of
medical supplies affect the care process. The population magnification, the long traffic on the
roads, and other factors are prevalent in both developing and developed countries that affect
the supply of medical resources (Apps.who.int, 2020). This results in infelicitous
procurement of the products that are not required because of technical incompatibility,
presence of subsisting stock, spare components and other consumables that are not present or
ineffective of the staff due to lack of training. Thus, it is crucial to fixate on this issue for
developing an incipient conception to leverage in as an entrepreneurial venture. The major
reason for developing drone-distribution medical supplies is the flood in Kerala that occurred
on 16 August 2018. The unwontedly cumbersomely hefty rainfall was considered to be the
heaviest in a century where 483 people died and 140 were missing (Mishra et al., 2018).
Summary of the idea
As discussed above, the issue of constrained medical supplies has negative impacts on
the healthcare sector. In order to address the issue in a congruous manner, an entrepreneurial
conception was formulated that involved a drone-predicated distribution system of medical
supplies. It can be verbalized that the process of distributing medical supplies is not
straightforward in nature, especially in adverse conditions such as war or environmental
disaster (Scott & Scott, 2017). The utilization of the drone will consequently sanction in
sending the products, thus, expediting the distribution process. In many cases, such as in an
emergency or natural disaster, the drone can be utilized for supplying medical supplies where
it is required the most in order to address the critical areas of treatment. The emergency
engendered in Kerala in 2018 led to the shutting down of every possible operation and
function in the state. This affected the healthcare sector in an ascended manner resulting in
drugs; there are immense numbers of the organisation that have less information cognate to
essential medical supplies. There are various brands available in the market for offering
medical supplies and equipment to operate; however, the circumscribed accessibility of
medical supplies affect the care process. The population magnification, the long traffic on the
roads, and other factors are prevalent in both developing and developed countries that affect
the supply of medical resources (Apps.who.int, 2020). This results in infelicitous
procurement of the products that are not required because of technical incompatibility,
presence of subsisting stock, spare components and other consumables that are not present or
ineffective of the staff due to lack of training. Thus, it is crucial to fixate on this issue for
developing an incipient conception to leverage in as an entrepreneurial venture. The major
reason for developing drone-distribution medical supplies is the flood in Kerala that occurred
on 16 August 2018. The unwontedly cumbersomely hefty rainfall was considered to be the
heaviest in a century where 483 people died and 140 were missing (Mishra et al., 2018).
Summary of the idea
As discussed above, the issue of constrained medical supplies has negative impacts on
the healthcare sector. In order to address the issue in a congruous manner, an entrepreneurial
conception was formulated that involved a drone-predicated distribution system of medical
supplies. It can be verbalized that the process of distributing medical supplies is not
straightforward in nature, especially in adverse conditions such as war or environmental
disaster (Scott & Scott, 2017). The utilization of the drone will consequently sanction in
sending the products, thus, expediting the distribution process. In many cases, such as in an
emergency or natural disaster, the drone can be utilized for supplying medical supplies where
it is required the most in order to address the critical areas of treatment. The emergency
engendered in Kerala in 2018 led to the shutting down of every possible operation and
function in the state. This affected the healthcare sector in an ascended manner resulting in
FOUNDATIONS OF ENTREPRENEURIAL PRACTICE3
poor quality of care. Consequently, the supply of medical resources was hampered in such a
way that it leads to the poor outcome of healthcare. Consequently, the most congruous option
to mitigate the issue was drone-predicated medical supply distribution. The drone carried
sundry resources such as drugs, minuscule medical equipment, and other supplies in different
hospitals and healthcare settings that did not have accessibility by road. This was found to
ameliorate the quality of treatment and dynamically care to the affected population (Vishnu et
al., 2019).
Elements of the entrepreneurial idea
The conception of entrepreneurship is to promote the health and wellbeing of the
population of Kerala at the time of crisis. As per the finding, it was one of the most
consequential floods in the state as well as in India having an astronomically immense impact
on the general living condition of the people. People were subjected to sundry kinds of
diseases, which required immediate addressing in the hospital setting (Cosenz & Noto, 2017).
However, the amplitude of dihydrogen monoxide in the roads constrained accessibility as a
result; a considerable gap was engendered between medical care and medical resources.
Many hospitals lacked an adequate quantity of medical supplies as a result; it affected the
treatment; thus, incrementing the mortality rate. The havoc it engendered can be visually
examined by understanding the quantity of mazuma incurred or damaged, which was
approximately US$ 5.6 billion (Halgamuge & Nirmalathas, 2017). The elements of the
entrepreneurial conception that need to be analysed are novelty, advantages, benefits, and
technology.
Novelty:
The novelty is the quality of being incipient, pristine, and eccentric. The piece of trade
or article whose value is not merely for decorative, aesthetic, or comic in nature. Shanahan
poor quality of care. Consequently, the supply of medical resources was hampered in such a
way that it leads to the poor outcome of healthcare. Consequently, the most congruous option
to mitigate the issue was drone-predicated medical supply distribution. The drone carried
sundry resources such as drugs, minuscule medical equipment, and other supplies in different
hospitals and healthcare settings that did not have accessibility by road. This was found to
ameliorate the quality of treatment and dynamically care to the affected population (Vishnu et
al., 2019).
Elements of the entrepreneurial idea
The conception of entrepreneurship is to promote the health and wellbeing of the
population of Kerala at the time of crisis. As per the finding, it was one of the most
consequential floods in the state as well as in India having an astronomically immense impact
on the general living condition of the people. People were subjected to sundry kinds of
diseases, which required immediate addressing in the hospital setting (Cosenz & Noto, 2017).
However, the amplitude of dihydrogen monoxide in the roads constrained accessibility as a
result; a considerable gap was engendered between medical care and medical resources.
Many hospitals lacked an adequate quantity of medical supplies as a result; it affected the
treatment; thus, incrementing the mortality rate. The havoc it engendered can be visually
examined by understanding the quantity of mazuma incurred or damaged, which was
approximately US$ 5.6 billion (Halgamuge & Nirmalathas, 2017). The elements of the
entrepreneurial conception that need to be analysed are novelty, advantages, benefits, and
technology.
Novelty:
The novelty is the quality of being incipient, pristine, and eccentric. The piece of trade
or article whose value is not merely for decorative, aesthetic, or comic in nature. Shanahan
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