Entrepreneurship: Acceptable Tradeoffs in Entrepreneurial Ventures

This essay examines the complex nature of entrepreneurship, focusing on the tradeoffs between the difficult behaviors and shady business deals often encountered by entrepreneurs and the ultimate success they achieve. It discusses how unconventional ideas and behaviors, while initially challenging, can lead to significant breakthroughs, citing the example of Steve Jobs and his innovative approach at Apple. The essay also addresses the limitations faced by entrepreneurs, such as higher risks and the potential for engaging in unconventional business deals due to limited access to resources, using Softbank's investments as an example. Furthermore, it explores the importance of an entrepreneur's ideology and its alignment with the social and economic environment, comparing the visions of entrepreneurs to those of political leaders and highlighting the influence of external factors on their success. The essay concludes that while entrepreneurship involves inherent risks and challenges, understanding and navigating these tradeoffs are crucial for achieving success.

Running head: ENTREPRENEURSHIP
Entrepreneurship
Name of the student
Name of the university
Author note

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Introduction
In the recent time, one of the major trends in the business scenario is emergence of the
concepts of entrepreneurship. This refers to the initiation of innovative business ideas and
opportunities by some visionary people that can change the existing business trend and scenario.
In the recent time, there are number of successful instances of entrepreneurship being emerged
with some of them went to topple the established players and corporate in the market. However,
there are number of factors that should be considered in evaluating the effectiveness of the
entrepreneurship (Toma, Grigore and Marinescu 2014). This is due to the reason that in major
cases there are number of difficulties and challenges being faced by the entrepreneurs in
developing and implementing their business ideas and vision.
Thus it is important for the successful entrepreneurs to effectively determine and balance
between the difficulties of the entrepreneurs and the level of success they gain. The more
effective will be the balance, the more will be the probability of getting success in
entrepreneurship (Murmann and Sardana 2013). There are various instances where it is being
seen that entrepreneurs went through number of difficulties in the earlier stage and became
successful further. This essay will discuss about the acceptable tradeoffs between the downside
of the concept of entrepreneurship and the success they gain. In addition, the concepts of
entrepreneurship will also be critically evaluated with the help real life examples of
entrepreneurship.
Concept of entrepreneurship
There are number of concepts being discussed and stated by different authors and the
concepts of entrepreneurship are becoming more diverse and different in nature with time. This

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is due to the reason that with time, the diversity in the business scenario and opportunity is
rapidly increasing. According to Miller (2015), there are numbers of downsides that can be
identified from the initiation of concept of entrepreneurship. One of the major downsides of
entrepreneurship is contradiction with traditional or conventional approach. This is due to the
reason that majority of the ideas promoted through the concept of entrepreneurship are unique
and distinctive in nature and they challenges the conventional business models. Thus according
to the author, it becomes difficult and complex for the entrepreneurs to measure the viability of
their ideas. On the other hand, it is also being stated by the author that having unconventional
ideas for the entrepreneurship also cause difficulties for other involved stakeholders. This is due
to the fact that the approach initiated by the entrepreneurs cannot get matched with that of other
stakeholders involved.
Thus, from the above opinion of the author, it can be concluded that it is important for the
entrepreneurs to break the egg first before making omelet. This is due to the reason that
challenging the mainstream and conventional ideas will lead to the difficult behavior for the
entrepreneurs. However, on the other hand it can also be concluded that in different cases the
difficult behavior for the entrepreneurs also lead to the success in future. For instance, in the case
of Steve Jobs, the approach followed by him was much different from the existing business
approaches and trends. It is reported that the major objective of Steve Jobs is not earn and
maximize profit or being the market leader in the electronic gadget market, which is expected
from a leading tech company (Clapp and Swenson 2014). He was having the objective of
providing the latest and most innovative products possible to the customers. In accordance to this
vision of him, Steve Jobs always pushed his employees to focus more product innovation over
other aspects. In addition, it is also being reported that Steve Jobs was known for his leadership

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skills and leading by example. He was known to stay in office from 7 AM till 9 PM. This can be
referred as one of the most difficult behavior for the employees. However this factor of pushing
the employees and leading by example helped him to create the brand of Apple as a top lifestyle
brand rather than just a tech company. Therefore, it can also be concluded that difficult behavior
of the entrepreneurs is an acceptable trade off for the success of the concept of entrepreneurship.
Limitations in entrepreneurship
In case of initiating the concept of entrepreneurship, there are number of limitations being
faced by the entrepreneurs. One of the major limitations being faced by them is the bearing more
risks compared to other established business organizations. This is due to the reason that
entrepreneurship starts with having small business and thus the sourcing for capital resources is
less. As per Burns (2016), concept of entrepreneurship starts with the small business due to the
fact that entrepreneurs are having less access to the financial resources. On the other hand, it is
also being stated by the author the radical and innovative idea of the entrepreneurs are another
reason behind the less support and access to the financial issues. Thus, the less will be the access
to the financial resources, the more will be the challenges for the entrepreneurs to set up their
infrastructure. The author has also stated that shady business deals also comes in play with the
business transactions of the entrepreneurs. This is due to the reason that there are mainly two
reasons behind the initiation and emergence of the shady business deals by the entrepreneurs.
One of the major reasons being identified is the lack of established and conventional support
facilities for the entrepreneurs. As stated by the author, entrepreneurs are having less opportunity
to depend on the conventional process for the financial and other resource based support. This
lead to the initiation of the shady business deals.

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For instance, Softbank of Japan is known for their extensive investments in different
startups around the world. However, in the recent time, they have invested in some of the major
loss making startups especially in India. In addition, it is also being reported that the chance of
generating profit from these startups is also low. Thus, these dealings can be considered as shady
business deals due to the reason that no business organizations will be interested in investing in
any loss making company that is having no future probability of gaining profit. However, there
are numbers of instances being noticed where the investments done by Softbank actually helped
the entrepreneurs in regenerating their profitability. On the other hand, as per the author, the
other reason of emergence of shady business deals is not adhering to the conventional business
pattern and approaches by the entrepreneurs. In number of instances, it is being seen that
entrepreneurs have taken a more radical route for their business operation. This is also led to the
emergence of the shady business deals that may be looked and perceived by the stakeholders as
shady and unconventional but the radical business ideas and approaches will help the business in
further time.
Thus, it can be concluded that shady business deals are majorly being considered as
unethical and dishonest act for the business organizations, but in the case of entrepreneurship,
shady business deals may have positive impact as well. There are number of instances being
identified with the major and popular entrepreneurs in relation to the shady business deals.
Entrepreneurs such as Bill Gates are having different instances where he was accused for the
shady business deals (Shah and Mulla 2013). This is mainly due to the reason that the vision
being followed by these entrepreneurs will not get matched with that of the conventional people.
Thus, the deals that that Bill Gates initiated in his earlier time were sometime being regarded as

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shady business deals. However, it should also be noted that shady business deals will not always
be successful for the entrepreneurs and they can also get failed in the long term.
Ideological nature of entrepreneurs
One of the major characteristics of the entrepreneurs is their distinctive ideology. This is
due to the reason that ideology of the entrepreneurs determines their approach about how they
initiate their innovative ideas and how that will be implemented in the real world situation. In
addition, the ideology of the entrepreneurs is also important in order to get success in a particular
region or business environment. This is due to the fact that different countries are having the
different social and cultural factors and it is the ideology of the entrepreneurs that will determine
the extent to which the idea of them can get matched with the social and cultural environment.
According to Dey and Lehner (2017), ideology of the entrepreneurs is sometime more superior
and visionary than that of the political leaders. In this article they have compared the ideology of
the entrepreneurs with that of the political leaders due to the reason that political leaders always
work on the basis of their vision. According to the authors, entrepreneurs are also having the
long term vision like that of the political leaders. This characteristic of the entrepreneurs is
making them ahead in the competition. The authors have also stated that ideology of the
entrepreneurs helps them in get matched with that of their business environment. This is
important due to the reason that ideology of the entrepreneurs will help them to have the same
approach as that of their business environment.
For instance, the innovative business approach of Steve Jobs is very much adhered to that
of his home country’s social and cultural pattern. It is being stated by Mumford and Fried (2014),
the social approach of the United States was suitable for the innovative business approach of

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Steve Jobs. This is due to the reason that the infrastructure, resources and technology that were
required by Steve Jobs in order to implement his innovative ideas. It is also being stated by the
authors that no other countries may have provide these facilities to Steve Jobs better that the
United States. Thus, according to the authors, it is important to determine the ideology of the
entrepreneurs in order to evaluate their effectiveness.
On the other hand, there are some other authors who have given the opinion that there are
number of factors that are also should be considered in determining the ideology of the
entrepreneurs. According to Castano, Mendez and Galindo (2015), there are number of external
factors that will have influence and impact on the ideology of the entrepreneurs. According to the
authors, one of the major determining factors is the social factor. This is due to the reason that
the social pattern and approach of the home country of the entrepreneurs influence the approach
of them. Steve Jobs and Bill Gates are from the United States. They both possessed innovative
business approach in the technology sector. However their success in the technology sector is
mainly due to the social acceptance of the updated and latest technology by the American
society. This helped them to get succeed in the market.
In addition another major factor being identified is the economical factor. This is
important due to the reason that the national economy of the home country of the entrepreneurs
should be favorable enough to support the innovation (Kacperczyk 2013). In the case of Steve
Jobs and Bill Gates, the favorable economy of the United Stated enabled them to sell their
technological products in extensive manner. On the other hand according to the authors, if they
were from any under developed countries, then they might not have the opportunity for the
innovative ideas that they got in the market of the United States.

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Conclusion
Thus, it can be concluded that the concept of entrepreneurship is complex in nature with
having different set of factors to be considered. In this essay, the tradeoff between the difficult
behavior and shady business deals and the success of the entrepreneurs is being discussed. It is
identified that that in order to make an omelet, it is important to break the egg. In addition, the
importance of the ideology in determining the effectiveness of the entrepreneurs is also being
discussed in this essay along with identifying the determining factors of the ideology of the
entrepreneurs.

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Reference
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Dey, P. and Lehner, O., 2017. Registering ideology in the creation of social entrepreneurs:
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Kacperczyk, A.J., 2013. Social influence and entrepreneurship: The effect of university peers on
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