Assignment: Entrepreneurs And The World Of Business
Course Introduction
Entrepreneurs change the world by creating wealth not only for themselves, but also for many others around them.
Why not be another Steve Jobs and create a venture as successful as Apple, which stands out from similar companies because of its unconventional business ideas that constantly redefine the standards for products, marketing, and techniques for industry innovation? Apple's primary entrepreneurial focus-providing powerful and user-friendly products and solutions, with a focus on design-drives Apple to remain a world leader in cutting-edge media and technology. This philosophy brought to the world such successful products and services like iTunes, the iPhone, and the iPad. Do you know anyone who has never heard about Apple and its products?
Module Overview
Entrepreneurs are able to identify and pursue ideas and opportunities that can become feasible business ventures. They are the real agents of innovation and change in free economies, always finding a new or better way of doing things.
Traditional entrepreneurs start their own businesses and work for themselves.
There are, however, other kinds of entrepreneurs, such as the intrapreneur (or corporate entrepreneur) and the social entrepreneur. Nevertheless, this course will focus only on traditional entrepreneurs and the creation of new business ventures.
This Module will introduce you to the concept of entrepreneurship and the various advantages and disadvantages of conducting a business as an entrepreneur. This module will also introduce you to some of the decisions that an entrepreneur makes.
Conclusion Module covered the foundations of entrepreneurship, the entrepreneurial process, and the identification of potential business opportunities.
Developing a successful business idea not only includes the opportunity recognition discussed in this module, but also following all the steps in the entrepreneurial process until the business is ready to participate actively in the marketplace. All these steps will be discussed in the coming modules of this course which will include, among other things, a clear and comprehensive definition of the business in point and the development of marketing and financial plans.
In this assignment, you will discuss the role of entrepreneurship in improving the economic condition of countries and individuals and understand the manner in which this perception has spread around the world.
Tasks:
Entrepreneurship is being increasingly practiced in countries throughout the world. On the basis of this statement, answer the following questions:
• Why do you think entrepreneurship is growing around the world? Do you expect this trend to continue, or do you think entrepreneurship's appeal will subside over time?
• What are the three primary reasons that lead people into becoming entrepreneurs?
• Which reason would better describe an eventual personal choice to become an entrepreneur?
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also include a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also Include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.
Module Readings
Complete the following readings early in the module:
• Module overview
• From your course textbook, Entrepreneurship: Starting and operating a small business, read the following chapters:
o Entrepreneurs Recognize Opportunities
o The Business Plan: Road Map to Success
o Creating Business from Opportunity
o Appendix 1 The Daily Perc
• From the Argosy University online library resources, read the following articles:
o Baron, R. A. (2006). Opportunity recognition as pattern recognition: How entrepreneurs "connect the dots" to identify new business opportunities. Academy of Management Perspectives, 20(1), 104-119. doi:10.5465/AMP.2006.19873412.
o Davis, T. (2006). How many entrepreneurs does it take to change a nation? Business Strategy Review, 17(4), 68-73. doi:10.1111/j.0955-6419.2006.00438.
o DeTienne, D. R., & Chandler, G. N. (2004). Opportunity identification and its role in the entrepreneurial classroom: A pedagogical approach and empirical test. Academy of Management Learning & Education, 3(3), 242-257. doi:10.5465/AMLE.2004.14242103.
o Eesley, D. T.,& Longenecker, C. O. (2006). Gateways to intrapreneurship. Industrial Management, 48(1), 18-23. (ProQuest Document ID: 211621084).
o Ernst & Young (2011). Nature or nurture? Decoding the DNA of the entrepreneur.
o Komoszewski, J. (2011). Streamline your business plan, one note card at a time. Journal of Financial Planning, Practice Management, 24-25. (ProQuest Document ID: 857749134).
o Mullins, J. W. (2010). Voices: What to do before you write a business plan. Business Strategy Review, 21(4), 92-93. doi:10.1111/j.1467-8616.2010.00719.
o O'Brien, T. (2010). Time for an upgrade: Creating a 10-part business plan for career success. Public Relations Tactics, 17(1), 12.
o Schramm, C. J. (2004). Building entrepreneurial economies. Foreign Affairs, 83(4), 104-115. (ProQuest Document ID: 214291063).
• Module introduces you to the concept of entrepreneurship and the various advantages and disadvantages of conducting a business as an entrepreneur. In addition, it focuses on the business plan and the reasons for creating such documents, as well as on some recommendations for its contents and applications.