Importance Of An Entrepreneurial Business At All Levels Essay

BUSINESS MANAGEMENT ASSIGNMENT 1 DPB GOUVEIA: 216028976 TABLE OF CONTENTS TABLE OF CONTENTS 2 THEME 1: IMPORTANCE OF ENTREPRENEURSHIP 3 - 4 THEME 2: COMPANY PROFILE 5 - 10 REFERENCES 11 ANNEXURES - QUESTIONNAIRE 12 THEME 1: THE IMPORTANCE OF ENTREPRENEURSHIP INTRODUCTION An Entrepreneur is someone who is creative and innovative and identifies a business opportunity or gap in the market for a new or adapted product or service. The importance of an entrepreneurial business at all levels is essential to a country’s economic development as well as wealth and employment creation within a country. To a large extent this is dependent on the entrepreneur who applies certain talents, skills and expertise in the start-up, development and growth of businesses. Entrepreneurial development is the origin of successful entrepreneurial activity, and although some entrepreneurs are born, it is possible to develop individuals into becoming entrepreneurs. DISCUSSION The combination of all businesses - namely small, micro and medium enterprises (SMME’s) and large national and international businesses - determines the state of the economy of a country. Small businesses contribute to employment, innovations, competition and social and political stability. The role of small business as a vehicle for entrepreneurship has increased over recent years and econometric evidence proves that entrepreneurship is of major importance to economic growth in a country. A lack of entrepreneurshipShow MoreRelatedEntrepreneurship : The Entrepreneurial Function1623 Words   |  7 PagesThe entrepreneurial function implies the discovery, assessment and exploitation of opportunities, in other words, new products, services or production processes; new strategies and organizational forms and new markets for products and inputs that did not previously exist (Shane and Venkataraman, 2000). 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