INTRODUCTION
Welcome to the world of entrepreneurship and small business! At one time or another, I believe many people reflect on the possibility of some day operating their own business. This because of entrepreneurship and small business is growing faster in recent year. Over the past few years, the number of individuals and also students who have chosen to be entrepreneurs increased substantially.
ENTREPRENEURIAL OPPORTUNITIES.
An entrepreneurial and small business opportunity is more than just a good business idea. A lot of people, and also entrepreneurs have interesting ideas all time. They are more focuses on concepts for new products, ingenious technologies, and inventive services. But, is it really the entrepreneurial opportunities? This is because of the major difference between a successful and unsuccessful venture is often the difference between intriguing business idea and a truly promising opportunities.
Therefore, an entrepreneurial opportunity can be describe as the desirable and timely innovation that creates value for interested buyer and end users. In other word, it is need to know and understand the customers or target market so well that the product fits and sells itself. Clearly, successful entrepreneurs pursue opportunities by first identifying value-creating innovations entrepreneurs pursue opportunities by first identifying value-creating innovations with market potential. Great ideas alone are simply not enough.
It is also important to note, however, that a given opportunity will be not equally attractive to everyone. This is because of differences in experiences, knowledge, information and also perspective, one person may see an opportunity where others do not. Anyway, in order to see an opportunity and also grab the opportunity exist only for the entrepreneur who has the interest, resources and capabilities that required to succeed as entrepreneur. Remember the magic word, “see and grab the opportunity!”
THE EVOLUTION OF ENTREPRENEUR.
World Evolution
The word entrepreneur is derived from the French entreprendre, meaning “to undertake”. This is refers to individuals who undertake (the risk of new ventures). In the simple word, to be entrepreneur they should start with the word “T R Y” (Take Risk, Yes!). Don’t be afraid if you failure in the journey to be entrepreneur. Remember, the history of discoveries which have benefited mankind is often filled with people who try to use erroneous or failed ideas as stepping stones to new ventures. “Entrepreneurs take the possibility of failure in their stride”.
Peter Drucker, an authority on management theory, noted that although the term entrepreneur has been used for 200 years, “there has been total confusion over the definition.”
In the earliest period, Marco Polo who attempted to establish trade routes to the far East as early example of the earlier definition of an entrepreneur. Marco Polo would sign a contract with a financier (capitalist) to sell his good. In this situation, the capitalist was a passive risk bearer. Marco Polo took the active role in trading, bearing all physical and also emotional risks. Once, the merchant adventurer had successfully sold the good. Profit would be divided the capitalist and the merchant-adventurer likes Marco Polo.
During the middle ages, the scopes of entrepreneur are wider to describe both an actor and also person who were in charge of and managed large productions. The entrepreneur in this age was the person who was in charge of great architectural works such as public buildings and cathedrals. That’s why at this age person who called entrepreneur who were charge and managed large productions that resources provided by government.
According to Joseph Schumpeter, an earlier written on the subject, Richard Cantillon first used the term circa 1755. Cantillion, a French economist, asserted that entrepreneur invests, transforms and makes either profit or loss. He reviewed the entrepreneur as a risk taker. They also include merchants, farmers, craftsmen, and other sole proprietors. It’s mean that the scope of entrepreneur become more complex.
After 21 years in 1776, Adam Smith widened the scope of entrepreneur to include the task of forming an organization for commercial purposes and the extra qualities of this person called enterpriser. He described the dynamism of that personality such as the ability to foresee potential through changes in the economy, and to act on the demand thereby created.
When the industrialization that occurred throughout the world at around 18th century, the capital user also called as entrepreneur. The capital user likes innovator who many of the inventions developed during this time such as Thomas Edison who are not venture capitalist or providers. It’s mean that the function of the entrepreneur is to reform or revolutionize the pattern of production by exploiting an invention. As a result in the middle of the 20th century, the notion of an entrepreneur as an innovator was established.
According to Kuratko and Hodgetts in 2004 he said, today many people regard entrepreneurship as “pioneership” on the frontiers of business. It’s mean that entrepreneur in the 21st century, are considered as the heroes of free enterprise. This is because of many of them have used innovation and creativity to build multimillion-dollar enterprises from fledging businesses.
As a conclusion, entrepreneur plays a large and increasing role now days in our nations and also our individual working lives. They involve in several area either as capitalist, merchant adventure, risk taker either farmers, craftsmen, or other sole proprietors. They also can be the enterpriser who has the ability to foresee potential through changes in the economy, and to act on the demand thereby created. Lastly, the innovator also we can call as the entrepreneur.
ENTREPRENEURIAL OPPORTUNITIES.
An entrepreneurial and small business opportunity is more than just a good business idea. A lot of people, and also entrepreneurs have interesting ideas all time. They are more focuses on concepts for new products, ingenious technologies, and inventive services. But, is it really the entrepreneurial opportunities? This is because of the major difference between a successful and unsuccessful venture is often the difference between intriguing business idea and a truly promising opportunities.
Therefore, an entrepreneurial opportunity can be describe as the desirable and timely innovation that creates value for interested buyer and end users. In other word, it is need to know and understand the customers or target market so well that the product fits and sells itself. Clearly, successful entrepreneurs pursue opportunities by first identifying value-creating innovations entrepreneurs pursue opportunities by first identifying value-creating innovations with market potential. Great ideas alone are simply not enough.
It is also important to note, however, that a given opportunity will be not equally attractive to everyone. This is because of differences in experiences, knowledge, information and also perspective, one person may see an opportunity where others do not. Anyway, in order to see an opportunity and also grab the opportunity exist only for the entrepreneur who has the interest, resources and capabilities that required to succeed as entrepreneur. Remember the magic word, “see and grab the opportunity!”
THE EVOLUTION OF ENTREPRENEUR.
World Evolution
The word entrepreneur is derived from the French entreprendre, meaning “to undertake”. This is refers to individuals who undertake (the risk of new ventures). In the simple word, to be entrepreneur they should start with the word “T R Y” (Take Risk, Yes!). Don’t be afraid if you failure in the journey to be entrepreneur. Remember, the history of discoveries which have benefited mankind is often filled with people who try to use erroneous or failed ideas as stepping stones to new ventures. “Entrepreneurs take the possibility of failure in their stride”.
Peter Drucker, an authority on management theory, noted that although the term entrepreneur has been used for 200 years, “there has been total confusion over the definition.”
In the earliest period, Marco Polo who attempted to establish trade routes to the far East as early example of the earlier definition of an entrepreneur. Marco Polo would sign a contract with a financier (capitalist) to sell his good. In this situation, the capitalist was a passive risk bearer. Marco Polo took the active role in trading, bearing all physical and also emotional risks. Once, the merchant adventurer had successfully sold the good. Profit would be divided the capitalist and the merchant-adventurer likes Marco Polo.
During the middle ages, the scopes of entrepreneur are wider to describe both an actor and also person who were in charge of and managed large productions. The entrepreneur in this age was the person who was in charge of great architectural works such as public buildings and cathedrals. That’s why at this age person who called entrepreneur who were charge and managed large productions that resources provided by government.
According to Joseph Schumpeter, an earlier written on the subject, Richard Cantillon first used the term circa 1755. Cantillion, a French economist, asserted that entrepreneur invests, transforms and makes either profit or loss. He reviewed the entrepreneur as a risk taker. They also include merchants, farmers, craftsmen, and other sole proprietors. It’s mean that the scope of entrepreneur become more complex.
After 21 years in 1776, Adam Smith widened the scope of entrepreneur to include the task of forming an organization for commercial purposes and the extra qualities of this person called enterpriser. He described the dynamism of that personality such as the ability to foresee potential through changes in the economy, and to act on the demand thereby created.
When the industrialization that occurred throughout the world at around 18th century, the capital user also called as entrepreneur. The capital user likes innovator who many of the inventions developed during this time such as Thomas Edison who are not venture capitalist or providers. It’s mean that the function of the entrepreneur is to reform or revolutionize the pattern of production by exploiting an invention. As a result in the middle of the 20th century, the notion of an entrepreneur as an innovator was established.
According to Kuratko and Hodgetts in 2004 he said, today many people regard entrepreneurship as “pioneership” on the frontiers of business. It’s mean that entrepreneur in the 21st century, are considered as the heroes of free enterprise. This is because of many of them have used innovation and creativity to build multimillion-dollar enterprises from fledging businesses.
As a conclusion, entrepreneur plays a large and increasing role now days in our nations and also our individual working lives. They involve in several area either as capitalist, merchant adventure, risk taker either farmers, craftsmen, or other sole proprietors. They also can be the enterpriser who has the ability to foresee potential through changes in the economy, and to act on the demand thereby created. Lastly, the innovator also we can call as the entrepreneur.
Entrepreneurs and Entrepreneurship
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