Role of Entrepreneurs in Businesses

Running head: ROLE OF ENTREPRENEURS IN BUSINESSES
ROLE OF ENTREPRENEURS IN BUSINESSES
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ROLE OF ENTREPRENEURS IN BUSINESSES
Table of Contents
1. Introduction..................................................................................................................................2
2. Common entrepreneurial traits....................................................................................................2
2.1 Vision.....................................................................................................................................2
2.2 Communicability and conflict resolution..............................................................................3
2.3 Motivation and empowerment of the employees...................................................................3
2.4 Proper knowledge of the processes........................................................................................3
2.5 Adaptability to different situations........................................................................................4
2.6 Innovative approach of the entrepreneur...............................................................................4
3. Role of entrepreneurs in boosting the performance of the businesses.....................................5
4. Entrepreneur from Northern America - Elizabeth Holmes, CEO of Theranos...........................6
4.1 Life and works of the entrepreneur........................................................................................6
4.2 Impact of the approach on organizational performance........................................................6
5. Entrepreneur from Australia - Dave Buttner, CEO of GM Holden.............................................7
5.1 Life and works of the entrepreneur........................................................................................7
5.2 Impact of the approach on organizational performance........................................................8
6. Recommendations for improvements........................................................................................10
6.1 Long term planning..............................................................................................................10
6.2 Identifying the issues and mitigation of the same...............................................................10
6.3 Avoiding fabrication of propositions...................................................................................11
7. Conclusion.................................................................................................................................11
References......................................................................................................................................12

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ROLE OF ENTREPRENEURS IN BUSINESSES
1. Introduction
The role of the entrepreneurs depends on the approaches that are undertaken by the same
in order to bring forth changes in the organizational operations. The different personalities of the
entrepreneurs help in understanding the role that is played by the same in order to enhance the
operations of the businesses. The discussion will be focusing on undertaking a review of the
common entrepreneurial traits and the evaluation of the activities that are undertaken by the
same, which helps in optimizing the operation of the business. On the other hand, the research
will also focus on identifying two entrepreneurs from Australia and North America respectively
and discuss their contribution to the performance of the businesses. Lastly, the research will be
enumerating different recommended actions that might be undertaken by the entrepreneurs in
order to enhance the operations of the business.
2. Common entrepreneurial traits
The different traits in the entrepreneurs help the businesses in optimizing the operations
and thereby bringing forth modifications in the processes as per the change in the business
markets [10]. The major entrepreneurial traits are being discussed in this section of the report in
order to identify the operations that might be undertaken by the entrepreneur in order to enhance
the business position in the competitive markets.
2.1 Vision
The vision of the entrepreneur helps the organization in identifying the different
objectives for upholding the sustainable functioning of the same in the international markets. The
long term vision of the entrepreneur helps in maintaining the efficacy of the performance through

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ROLE OF ENTREPRENEURS IN BUSINESSES
sustainable measures [7]. On the other hand, the short term planning that is undertaken by the
entrepreneurs is based on the organizational needs of enhancing the profitability of the same.
The vision of the entrepreneur helps in inducing values and thereby designing the processes as
per the identification of the organizational sustenance.
2.2 Communicability and conflict resolution
The communicability of the entrepreneur helps the same in understanding the issues that
are faced by the employees while operating on the objectives of the business. The identification
of the issues helps the entrepreneur in mitigating conflicts in the workforce and thereby ensure
the smooth functioning of the processes [14]. The different changes that might be planned by the
entrepreneur depend on the efficacy of the communication skills of the same, which will help the
same in keeping the workforce aware of the needs of the business.
2.3 Motivation and empowerment of the employees
It has been found that motivating the employees and empowering the same through
suitable training and recognition programs will be helping the entrepreneur in facilitating the
productivity of the enterprise as per the objectives [12]. On the other hand, it has been found that
the provisions for training the employees will be helping the entrepreneur in enhancing the
operations of the business through enhancement of the skills. Motivating the employees and
thereby empowering the same will be helping the organization in enhancing the performance.
Therefore, the entrepreneur might undertake steps to a positive organizational culture through
collaborative functioning of the departments with the management [13].