How Entrepreneurs Can Change The Way We Live And Work

Question 1: An entrepreneur is a person who recognizes an opportunity or gap in the market and assesses the risk related to the formation of the business and is prepared to make the accompanying risk to start the business in order to make a profit. The entrepreneur has the skill to gain the resources to start and develop a business. Entrepreneurs are extremely essential to the economic development of the country as well as wealth and job creation within a country. Entrepreneurs are often regarded as national assets to be cultured, driven and rewarded to the greatest possible extent. What is the role of entrepreneurship in the economic development in South Africa? Entrepreneurs can change the way we live and work. Successful entrepreneurs can improve the standard of living in the country through their innovations and ideas. They create wealth from their business ventures and they also create jobs and the environments for a successful society. New ideas and innovation offered by entrepreneurs result in new employment. Entrepreneurs deliver instant large-scale employment to the unemployed which is a big problem of underdeveloped nations. The encouragement of associated businesses or sectors that support the new venture adds to further economic development. Entrepreneurs play an effective role in dropping the unemployment rate in the country which then clears the path towards economic development of the nation. Entrepreneurial projects generate new wealth. New and improvedShow MoreRelatedThe Is Worth A Tinkers Damn Is The History We Make Today1480 Words   |  6 Pagesâ€Å"The only history that is worth a tinker s damn is the history we make today.† Henry Ford made this statement somewhere along the line of his entrepreneurial adventures. Its great men like him that have truly shown us the success of the entrepreneur and sparked my interest. When writing this paper I had two specific goals. First to define what an entrepreneur is by defining what an entrepreneur is; in addition, outlining the types and common characteristics. Second is to allow you the reader toRead MoreEntrepreneurs Are Born Not Made And How The Small Start Ups Changed The Business Industries Essay1724 Words   |  7 Pagesmain questions addressed in this paper are: entrepreneurs are born not made and how the small start-ups have changed the business industries. Many arguments were for and against that entrepreneurs are born with inherent highly developed business skills. Entrepreneurship is a comprehensive term that is an immensely arduous to delineate (Thurik and Carree, 2005). 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That is why events like Entrepreneurship Avenue are so valuable. You have a great advantage over other would-be entrepreneurs; over the course of the last two months you have had the opportunity to learn how startups work, refine your ideas, and meet teams of people who will help you bring your product to market. Today, we are here today to celebrate all of that hard work, and toast to your future. Good ideas are everywhere. Some are a bit naive, some impossible to implement, and some areRead MoreWhat Are the Qualities of a Good Entrepreneur?1744 Words   |  7 PagesWhat are the qualities of a good entrepreneur? It is known that, in the context of the creation for profit-enterprises, entrepreneur is often synonymous with founders. An entrepreneur will face many obstacles, challenges and difficulties in business operation. To be successful, a good entrepreneur will need have some extraordinary abilities. So what is an entrepreneur? The entrepreneur, with his dream and will to found a private kingdom, to conquer adversity, to achieve success for its own sakeRead MoreWhy Entrepreneurs Start Their Own Business1676 Words   |  7 PagesIntroduction The way in which individuals trade has changed; this change stems from the awareness of the way in which the modern man functions in this constantly developing society. The term ‘entrepreneur’ is becoming increasingly common amongst individuals in society. Living in a constantly developing world, with rapid technological, environmental and social changes that effect the way we live means the modern man is constantly seeking new and innovative ways to adapt to these changes. During thisRead MoreHolding The World Of Your Hands1541 Words   |  7 PagesHolding the World in Your Hands â€Å"As an entrepreneur, you can always find a solution if you look hard enough.† Lori Greiner on Shark Tank, these words express an entrepreneur s daily challenges. Good ideas fabricated by great minds have made the world the way it is today, and everyday, new ideas create the world that will exist tomorrow. Entrepreneurs, painters and sculptors of the modern world, shape and change it every day. Entrepreneurs turn their dreams and imagination into reality throughRead MoreHow to Make India a Better Place1230 Words   |  5 PagesAs we step into the new decade, we asked a spectrum of entrepreneurs, bankers, VCs and marketing consultants on how they think India can improve its entrepreneurship quotient. Here is a blue print for developing the country’s entrepreneurial ecosystem and pave way for a brave new world Dream, adventure, determination. This sums up the secret trait of a successful entrepreneur. Is there a system which will help nurture this in our young? When we talk of building an entrepreneurial ecosystem, we