Entrepreneurship in Business: Theories, Analysis, and Evaluation

This report provides a comprehensive analysis of entrepreneurship, beginning with an introduction to the concept and its significance. It explores key concepts and theories, including innovation theory, need for achievement theory, status withdrawal theory, and the theory of social change. The report then analyzes the different natures of enterprises, such as sole traders, partnerships, private limited companies, and public corporations, with a focus on how these structures operate within the market. Furthermore, it critically evaluates the importance of entrepreneurship to individuals, organizations, and the economy at large, highlighting benefits such as job creation, improved living standards, and organizational goal attainment. The report concludes with a summary of its findings, emphasizing the crucial role of entrepreneurship in driving economic growth and individual prosperity.

Entrepreneurship in
Business

Contents
Introduction................................................................................................................................3
Main body..................................................................................................................................3
Key concepts and theories of entrepreneurship.....................................................................3
Analyse different nature of enterprise....................................................................................4
Critically evaluate the importance of entrepreneurship to the individual, organisation and
the economy at large..............................................................................................................6
Conclusion..................................................................................................................................7
REFERENCES...........................................................................................................................8

Introduction
Entrepreneurship can be defined as an ability of an individual to lead ab business organisation
by taking number of risk and building appropriate system which consists of a innovative idea
within the market. Entrepreneurship is a difficult concept images related to achieving the
objective and performing the function in an appropriate manner. In context of the present
report, it is based on the case study of alibaba. It is a chinese multinational technological
company which is specialised in e-commerce platform as well as retail and internet
technology. Under the current report there is discussion about key concepts and theories of
entrepreneurship as well as analysing the different nature of enterprises. There is also a
discussion about the importance of entrepreneurship to the individual or organisation and
economy at large so that appropriate system can be established (Zgheib, 2017).
Main body
Key concepts and theories of entrepreneurship
Entrepreneurship: entrepreneurship can be defined as creation on extension of value which is
related defining the system as well as using them in according to appropriate way.
Entrepreneurship can be also described as a process which is related to designing launching
and running and new business in order to identify and initiate some small business so that
organisation can easily work by minimising risk in increasing the profitability of business
venture.
Different theories of entrepreneurship
Innovation theory: innovation theory can be defined as a theory which is provided in order
to identify the entrepreneur which is a basically innovator and inventor within the society.
This theory has a main theme of innovation where it makes it distinction between the
innovator and inventor. This theory states that inventor discovers a new method and new
material but inverter is a one person who applied invention and discover a new combination
in order to achieve better profitability and provide solution to number of problems. This
strategy is appropriate in order to achieve the combination of products which can be used to
improve the current products and services and satisfy the needs and requirement (Faghih,
2019). This theory also states that in order to economic development process entrepreneur has
crucial role in order to improve the temp of growth and maintaining it in an effective manner.
This can be seen from the example of alibaba where the ceo of jack ma is performing and role
of innovative within the firm which bring number of functions and innovation together to
improve the functioning and made the organisation number one e commerce selling platform.
Need for achievement theory: this theory of motivation is propounded by david mcclelland.
Main concern of this theory is related to economic growth and the factors that influence. Add
this theory the author of the theory try to find out the internal factor which are human values
and motives that will lead to improve the opportunities and help in building an innovative
career (Zeyen and Beckmann, 2018). Under this theory, author wants to elaborate that an

achievement that guides the action of an entrepreneur are always related to entrepreneurship
and help in developing better immunity is within the individual in order to scale of economic
development. This theory identified two characteristics of entrepreneurship which are new
and better ways and decision making under uncertainty. This helped in studying a
psychological route that an entrepreneur can follow in order to achieve the orientation and
ensure the successful entrepreneurship by am facing on appropriate function.
Status withdrawal theory: this is also effective entrepreneurship development theory under
which there is discussion about the social changes. The social changes can be explained when
the member of the social group feel that their values and status or not in respect to the society
and they try to improve it by bringing innovation to get the respect within the society. This
directly brings the entrepreneurship within a society different individual feel status
withdrawal and will use and innovative idea to bring it back (Kim and et al.,
2017).Mysterious distinguish between entrepreneurship and intra-preneurship where there is
different factors which has to be considered in order to execute the motivation as well as
improve the professional development system so that various behaviour of different
individual can be identified according to the products and services offered by the four
wheeler in the market. This story is also useful in treating people about how they can enjoy
their social standing by improving the function achieving the business objective and the
circumstances.
Theory of social change: this year is also linked to improving the entrepreneurship
within an organisation where this theory was propounded by max weber. Under this theory it
stands for growth was the part of dependent system which helps in ethical value system of the
society in its concern. Music factor which are concerned this theory related to the society and
helpful to the organisation in treating different individuals in ethical and appropriate way.
This theory is helpful to the organisation in improving the growth as well as performing the
function according to the needs and requirements.
These are difference theories which are identified from the above mentioned case study and
helpful in improving the function of alibaba (Fairlie and Fossen, 2018)These stories are
related to the current system of organisation help in improving them in the future by utilising
the theories in an appropriate manner.
Analyse different nature of enterprise
These are difference theories which are identified from the above mentioned case
study and helpful in improving the function of alibaba. These stories are related to the current
system of organisation help in improving them in the future by utilising the theories in an
appropriate manner.
Business enterprises can be defined as an entity which is operating with the motive of
earning profit by utilising the resources which are available within a society and performing
its function according to the needs and requirement. In context of the current business

scenario there are a number of enterprises which has different nature and working according
to their requirements. Some of these organisations are discussed below:
Sole trader: These entire trader can be defined as a function which is known as
lifeblood of market economy. Sole traders are those individuals who are commonly using
retailing and local services which are essential for achieving the business objectives as well
as common lifestyle of different individuals. This improved identification of local analysis
demand limited and various other systems which are helpful in improving the functions as
well as achieving the budget according to the needs and requirement.
Partnership: A partnership business can be defined as that kind of nature of business which
is related to formulation of agreement between two and more individuals in order to achieve
the objectives as well as identified the current trends which can impact on the organisational
performance and helpful and achieving the business objectives (Czarniewski, 2016). The
major characteristic of partnership organisation is that there will be a security deposit of
$5000 in order to improve their functions and achieve their objectives.
Private limited company: unlimited company can be defined as in legal
incorporation which means that organisation has separate legal entity then its owner,
stakeholders and other individuals. Rise operating with joint stock operations as well as help
in improving the company's performance by critically evaluated the current scenario of
organisational performance. There is also a discussion about the various impacts of
organisation and help in achieving the objectives according to the current requirements
Private limited company: a private limited company can be defined as in that part of
business organisation which is related to performing the function and it has a separate legal
existence within the market. Alibaba is one of those private limited company which is
performing its function within the market as it ecommerce platform. These organisations
include the sole traders and ordinary partnership which perform the function in an appropriate
manner to achieve objectives and functions companies system in an appropriate.
Public corporation: Operation can be defined as an organisation which is related to
performing the function which includes government grants and subsidies licence fees
changing of supply as well as various other function which are required to perform the
functions and manage roles of different. A corporation is an appropriate organisation would
perform various roles and responsibility and help in identifying the current function and
achieving them in an appropriate.
It can be evaluated from the above mentioned information that there are various kind of
organisation according to the nature of their functioning as well as their system. this is
identified that Alibaba is performing within the market where there are a number of nature of
organisation has which has to be managed by the manager in accordance with the current
performance and achieving objectives (Tyagi, Sengar and Kumar, 2018). This is helpful to
organisation and performing its function and maintaining a better profitable environment
which will help the entrepreneurship in battering its working condition.

Critically evaluate the importance of entrepreneurship to the individual, organisation and the
economy at large
They are a lot of benefit which can be e take in from entrepreneurship. The
entrepreneurship is important at an individual level in the following ways:
Provide job: the reason of the area where the entrepreneurship has been established give
benefit to the people which recite in that particular area. They provide the job opportunities to
the people and from that job ab the people who is is living in that area would be able to earn
money. The entrepreneurs establish there organisation at a place where they can get talented
and comparatively low cost employees. Their major aim is to gain the high productivity with
low cost as possible. When the entrepreneur provide the job to the people lift the area in
which entrepreneurs establish then the wealth of that particular area or of the people
increases. As in the case with Alibagh company the employees who are working are able to
live a basic life at least where they can afford the resources which are are needing to lead a
normal life.
Living standard of people: when the organisation is able to provide the employability to the
people and they have started earning at least a basic amount then their standard of living the
life does get increase. As the people now has the money to a for the thing which day need.
Increase in disposable income depict the higher income of the people. It has been observed
that as the income of the people increases their disposable income also get increases which
ultimately benefits the economy. As in the case with Alibaug company day somewhere the
other helps in increasing standard of living of the people.
Happy individuals:- when an individual get a chance to work in the field in which years
interest then his motivation level for performing at work get increases. It has been observed
that individuals tend to get more happy when they perform the work which makes them
happy and satisfied. Case with Alibaba company they Try their level best from their
strategies in such a way that it contributes and integrates the objectives and goals of both the
employees and the company. Because the organisation knows that they can attain the the
ultimate objective only when the employees are happy and the employees only get happy
when they are able to perform their own interest work.
Contribution of entrepreneurship at organisational level
Attaining of the goal: The organisation will be able to attain the ultimate goal to the use of
the employees only. Making the optimum utilisation of resources ultimately lead the
Organisation in attaining their ultimate goals. As in the case with Alibaug the entrepreneur
ship helps in attaining the major goal for which the organisation has been established.
therefore the importance of entrepreneurship is to help the organisation in achieving the basic
reason for which it has been established (Tosifyan and Tosifyan, 2017). The purpose of
Alibag company is to provide the customers with the product at online platform and they
have been successfully standing up the success of this idea.
Generating profits:

The entrepreneurship at organisation level helps in generating more and more profits to the
organisation. The core purpose of the organisation is to earn and yield more and more profit
as possible. The entrepreneurship makes it possible for the organisation to yield that profit.
Case with Alibaug company the entrepreneurship enables them in generating profit to the use
of appropriate strategies and customer experience.
Importance of entrepreneurship to economy
Increase in tax: the amount of tax which a government gets from the people and
Entrepreneurship increases when the growth of entrepreneurs get increase. Prove that money
the government would able to put it in the public for the betterment living. The tax which the
government receives get spent upon building up of infrastructure, and helping the public in
living a better life. That tax which Alibaba company provides to government does somewhere
or the other contribute to the growth of public and economy. Therefore that's why the
government of an economy is encouraging more and more entrepreneurship in their region.
Decrease in robberies and threats: it has been observed that when the employability rate in
an economy is more there the people live a happy life and the percentage of crime ultimately
get decrease. Whereas economy where the unemployment rate is high there the rate of crime
is also high making it dangerous for the people to live (Abdulhaq, 2016).
Conclusion
From the report presented above, the various theories of entrepreneurship have been
given. Some of them may include innovation theory, need for achievement theory, status
withdrawal theory, the theory for social change, and much more. An entrepreneurship is of
various natures some of which may include sole trader, partnerships, Joint Stock Company,
private company, public company and much more. Each type of nature of this
entrepreneurship has different functions which they carry with them. This entrepreneurship
provides various benefits to individual, organisational and economy level. They provides the
job, yield profit to the entrepreneur, provide the government with tax, decrease in the level of
crimes and threats, increase in employability and living standard of people and much more.

REFERENCES
Books and Journals
Zgheib, P. W. ed., 2017. Entrepreneurship and Business Innovation in the Middle East. IGI
Global.
Faghih, N., 2019. An Introduction to: Globalization and Development—Entrepreneurship,
Innovation, Business and Policy Insights from Asia and Africa. In Globalization
and Development (pp. 1-10). Springer, Cham.
Zeyen, A. and Beckmann, M., 2018. Social Entrepreneurship and Business Ethics:
Understanding the Contribution and Normative Ambivalence of Purpose-driven
Venturing. Routledge.
Kim, Y. J., and et al., 2017. The impact of humane entrepreneurship on business ecosystem
and economic development. In ICSB World Conference Proceedings (pp. 1-8).
International Council for Small Business (ICSB).
Fairlie, R. W. and Fossen, F. M., 2018. Opportunity versus necessity entrepreneurship: Two
components of business creation.
Czarniewski, S., 2016. Small and medium-sized enterprises in the context of innovation and
entrepreneurship in the economy.Polish Journal of Management Studies. 13.
Tyagi, P., Sengar, R. S. and Kumar, A., 2018. The opportunities to develop a successful
entrepreneurship and business model in biotechnology: an overview. Journal of
Commercial Biotechnology. 24(3).
Tosifyan, M. and Tosifyan, S., 2017. A Research on the effect of social media on tendency to
entrepreneurship and business establishment (Case Study: Active Iranian
Entrepreneurs in Social Media). Emerging Science Journal. 1(1), pp.43-48.
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before Nasser. Bloomsbury Publishing.
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Ghezzi, A. and Cavallo, A., 2020. Agile business model innovation in digital
entrepreneurship: Lean startup approaches. Journal of business research. 110.
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context. Edward Elgar Publishing.
Audretsch, D. B., Belitski, M. and Desai, S., 2019. National business regulations and city
entrepreneurship in Europe: A multilevel nested analysis. Entrepreneurship theory
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