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ENTRENRENEURSHIP ASSIGNMENT HELP

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ENTRENRENEURSHIP ASSIGNMENT HELP ONLINE

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DEFINITION OF ENTREPRENEURSHIP. ASSIGNMENT HELP ONLINE

The activity of conceptualizing, developing, organizing and managing a business activity to earn a profit bearing all the risks involved is called entrepreneurship. A person who indulges in this activity is known as an entrepreneur. Entrepreneurship involves a combination of land, natural resources, human resources and capital to produce profits. It is indeed crucial for a country’s economic development and growth. Apart from this, entrepreneurship is an important phenomenon that leads to employment generation and innovation. The word entrepreneur originated from a French word called ‘entreprendre’. The actual meaning of this word is to undertake or create a new enterprise involving a risk. The numerous actions that is being executed by a person for creating something useful with the help of existing resources is entrepreneurship. Risk and uncertainty are two integral components of entrepreneurship.

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TYPES OF ENTREPRENEURS

INNOVATIVE ENTREPRENEURS

Individual who wants to bring about a change in the society with their out-of-the box thinking is called innovative entrepreneurs. They aim to incorporate fresh and unique ideas for the uplifting the economy of the country.

DRONE ENTREPRENEURS

As per the dictionary meaning, drone refers to an individual who wishes to live on the labor of others. Drone entrepreneurs adopt a traditional approach to managing a business with no interest in gaining market leadership or monopoly. They are quite reluctant to use modified or latest techniques and methods to enhance their business processes. Such entrepreneurs are highly prone to loss and failures.

SOCIAL ENTREPRENEURS

Those individuals who incorporate their unique ideas to change the living conditions of the under-privileged section of the society are called social entrepreneurs. They bring in social innovation and development in a plethora of areas like poverty alleviation, education, sanitation, health, human rights and environmental protection.

IMITATING ENTREPRENEURS

These are entrepreneurs who follow or copy the business model or ideas used by innovative entrepreneurs. Usually, they take the path adopted by well-known entrepreneurs of the country.

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CHARACTERISTICS OF ENTREPRENEURSHIP

ECONOMICAL AND DYNAMIC

Entrepreneurship is an art of running a business. It involves revenue generation by creating and operating an enterprise. Ideally, this involves optimum exploitation of natural resources for producing something new and unique. The ultimate aim of this process is the creation of wealth. This process of creation of wealth is undertaken in an atmosphere of unpredictability. Hence entrepreneurship is a dynamic activity.

RISK AND UNCERTAINTY

A person can be a successful entrepreneur only if he or she is willing to bear a considerable amount of risk. New ideas can be executed, but there might not be immediate results. A business model can easily fail in the market due to a variety of reasons. Some of the factors that influence a business are social, economic, cultural, political, scientific and technical.

CREATIVE

Being creative is the key to success in entrepreneurship. It is constructive activity that includes constant exploration for new opportunities. Creative ideas are crucial in every aspect of business be it production, design sales or marketing. Existing business models have to be constantly monitored and examined so as to create innovative and efficient mechanisms in the future.

POTENTIAL FOR PROFITS

An entrepreneurial activity becomes successful only if the desired profits or revenue is generated. These profits are crucial to pay for the human resources and other raw materials that have become a part of the production. For the business activity to become a continuous cycle, profit is the primary pre-requisite. Without any profits, a venture does not become a business; instead, it can only be called an activity of leisure

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Myassignmenthelp.Online is regarded as the best entrepreneurship assignment help website by college & university students worldwide because of the value we deliver. We will absolutely make sure that you get best results for your homework assignments. Mediocracy is not acceptable and we aim for maximum scores. Of course, there are times when our customers request us to make sure they score no more than a certain percentage for whatever reason and we do our best comply with that. Else, the only thing that will make us happy is you getting maximum scores. Contact us any time of the night or day for assured help with your entrepreneurship assignments and we will be happy to help.

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HOW TO GET ENTREPRENEURSHIP ASSIGNMENT HELP ONLINE?

We like to keep things simple and straight-forward. No complicated processes or extended wait times. And need to chase us for status updates-we will keep you updated with progress at every stage. No surprise delays. No putting up with rude customer care executives. We are absolutely committed to delivering your completed entrepreneurship assignments on time.

It is all as simple as getting in touch with us (on chat or by email) and telling us exactly what you need and when you need it. Share any relevant documentation. Tell us if you would like us to follow any particular referencing style or framework. Let us know the word-count for the assignment, if applicable. Give us all this information and then sit back and relax. We will keep you updated with progress and once done, we put it through internal quality checks. And then, we send it to you on the scheduled date and time.

We respect your privacy. We absolutely never sell or share any information that you provide to us during the course of your engagement with us or even after that.

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THE PROCESS OF ENTREPRENEURSHIP

Entrepreneurship is a continuous cycle. It is a long process and does not have an end. If you look at the journey of the most renowned entrepreneurs of the world like Bill Gates Steve Jobs and Warren Buffet, you can notice that all of them have a followed certain steps to build a successful business. Running and establishing a business venture involves three major processes- the entrepreneurial job, creation of venture, promotion and operation. The first step has two sub stages namely-generation of ideas and assessing the feasibility.

GENERATION OF IDEA OR A CONCEPT

Ideally, this is a crucial stage in entrepreneurship that consists of three important steps-germination, preparation and incubation. An idea strikes in the mind of a person in his area of interest. This can be a specific problem in his field of study. It mainly arises out of curiosity. The seeds of the business are sown here. This stage is called germination. Once an idea takes a proper shape, creative people start searching for answers. For example, an engineer wants to start his venture on technology, he or she will find innovative strategies and tactics to design an unique product. Incubation is the stage when an innovator is almost ready with the answers for the specific questions. The idea has taken a final shape and is ready to be executed.

FEASIBILITY TEST

This process is undertaken in order to understand whether the business will be feasible in the market. Feasibility test is usually done in two ways:

ILLUMINATION:

After the idea takes a concrete shape, this is the stage when it is considered as a realistic creation. This stage is crucial in finding out whether the idea can be converted into a useful product or service depending on various factors in the society. As such, ideas without a solid plan of execution have no meaning of its own.

VERIFICATION:

Verification is an important to analyze and study the practicality of the innovation in detail. Both positive and negative impact of the product and service are discussed in this stage. Also, this stage is crucial to understand how the idea or innovation can be exploited to the bring in maximum benefit for the society

ADVANTAGES OF ENTREPRENEURSHIP

EVOLUTION OF MANAGERIAL SKILLS:

The concept of entrepreneurship plays a huge role in enhancing the leadership and managerial skills and capabilities of people. An entrepreneur closely studies different aspects before launching a product or service into the market. He or she analyzes the problem, finds out solutions or alternatives and finalizes on the best possible on alternative based on cost implications.

CREATION OF EMPLOYMENT OPPORTUNITIES:

Through the process of entrepreneurship, an entrepreneur coordinates and combines various physical, financial resources for creating a business venture or an organization. Since it involves the use of human resources, entrepreneurship is responsible for generating employment opportunities in a country.

ENHANCED STANDARD OF LIVING:

The process of entrepreneurship has a direct impact on the standard of living of the people. A variety of innovative goods and services are being provided to the people. Be it a product or service, both are meant to ease the day-to-day activities of the society as a whole. For instance, technological innovations in the field of computers and mobile applications have significantly improved the lives of the people in the past few years.

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