We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

A historical and critical analysis of an entrepreneurial venture - Essay Example

Comments (0) Cite this document
Summary
Topic: A Historical and Critical Analysis of an Entrepreneurial Venture Name: Professor: Institution: Course: Date: A historical and critical analysis of an entrepreneurial venture An entrepreneur is a person who commits to undertake a task. It originates from a French word meaning one who undertakes…
Download full paper
GRAB THE BEST PAPER
A historical and critical analysis of an entrepreneurial venture
Read TextPreview

Extract of sample
A historical and critical analysis of an entrepreneurial venture

Download file to see previous pages... m, 2010). Entrepreneurship is therefore, the process of identifying business opportunities and gathering the necessary resources to start the business. Historically, in the 20th century, Joseph Schumpeter advanced one of the most used theories. He spearheaded the venturing process and gains credited for making it happen. He claimed that an entrepreneur replaces an existing economy by destroying one and making a better economy. Schumpeter’s first example of entrepreneurship was the combination of steam engines, which used coal and wagons. From this came the horseless carriages. This led to the invention of the car. We can see there was usage of already existing technology, which just got bettered. This came with a significant reduction in cost. Entrepreneurs learn from experience and with time the entrepreneurial culture grows. An example of an entrepreneurial venture is the Starbucks, a leading coffee company in Washington. It is the largest coffee house in the world, having outlets in most significant world cities. Starbuck commenced its operations in Seattle Washington in March 30 1971. The founders were Jerry Baldwin, Zev Siegla and Gordon bowker. It used the following strategies in the venturing process to make it a success story. ...
There was a need to start coffee chains in the area and they capitalized on this opportunity. Consumers are mostly the best source of information, as they are the end users. Many other entrepreneurs have been able to identify business opportunities through discussions with retailers, wholesalers, or representatives of the manufacturer. Starbucks was able to carry out thorough market research by means of questionnaires. They sought information from existing consumers and other related businesses. Starbucks invested in modern coffee brewing technologies. It also stood a decent chance against the competitors. It is worth noting that opportunities do not offer financial reward commensurate to the risks that the entrepreneur chooses to take. Starbucks also had a concrete assessment plan which they put to use. It provides a basis explaining why to adopt or not adopt the opportunity. The plan usually defines the product or the service we are interested in, and the entire requirement necessary to actualize it and make it a viable venture. It also outlines the financial requirements necessary. The next thing is the development of the business plan. A business plan can only be made after having identified the opportunity. It is unique for that particular business opportunity. The business plan will assist the entrepreneur gauge the resources needed in developing the business opportunity. It also helps identify resources required to achieve the same, and how and where to gather such resources. The business plan also details how to manage the venture once it has come into operation. The Starbuck business plan outlines how they planned to venture into the market and how they planned to raise funds. After coming up with the business plan, one must come up with a ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“A historical and critical analysis of an entrepreneurial venture Essay”, n.d.)
Retrieved from https://studentshare.org/business/1397298-a-historical-and-critical-analysis-of-an
(A Historical and Critical Analysis of an Entrepreneurial Venture Essay)
https://studentshare.org/business/1397298-a-historical-and-critical-analysis-of-an.
“A Historical and Critical Analysis of an Entrepreneurial Venture Essay”, n.d. https://studentshare.org/business/1397298-a-historical-and-critical-analysis-of-an.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Critical Appraisal of Business Plan Process Towards the creation of a successful entrepreneurial venture
174). The purpose of a business plan is flesh out the original business idea in substantial terms, that is, to concretely describe what the business aims to achieve and how it aims to achieve these goals. The business plan may be viewed as a blueprint of what the prospective business owner intends to do.
12 Pages(3000 words)Essay
The Creation of a Successful Entrepreneurial Venture: Analysis and Critique
Entrepreneurship Part 1: The Creation of a Successful Entrepreneurial Venture: Analysis and Critique The importance of entrepreneurship in modern day society cannot be overstated with Henry, Hill and Leitch (2003, pp. 7-8) arguing that it contributes significantly to total employment and household per capita incomes in the UK.
11 Pages(2750 words)Essay
A historical and critical analysis of an entrepreneurial venture (Gap Inc.)
The store began as a simple retail business that stocked tapes and Levi’s records (Don, 2009:6). The invention that Don brought into the retail market has earned him praises allover the world. Don had envisioned a casual wear store, which could stock products for people living in the city.
8 Pages(2000 words)Essay
The Entrepreneurial Experience: A Reflective Report
............ 2.1 The entrepreneurial journey...................................................... 3.0 Critical Incidents.................................................................................... 4.0 Applying lessons to future entrepreneurial practice.
14 Pages(3500 words)Essay
Evaluate a recent Entrepreneurial Venture - Yo shushi
The concept was first introduced in the 1700s and it has got intensified with the days. Entrepreneurship is a significant factor driving the wealth and competitiveness of a country. The report aims to provide an insight into the Yo-Sushi business and operation.
10 Pages(2500 words)Essay
A historical and critical analysis of an entrepreneurial venture
Moreover, entrepreneurial freedom is humanity’s distinctive capacity. By engaging in business ventures people decide to explore their entrepreneurial freedom. After a business idea is born, a person has the liberty to start up a company, while acknowledging the risks involved and expecting a profitable turnout.
8 Pages(2000 words)Essay
Entrepreneurial Venture: Cleaning Business
The quality of trust that develops between the customer and the business units guides the overall outcome of the business. (Lynn, 2010) Getting ready for the Business: I was staying in long Island, and was determined to set up a business of my own. Investing a considerable amount of money into the business was a constraint for me.
4 Pages(1000 words)Essay
Evaluate an Entrepreneurial Venture
One of the most famous designs manufactured by Dyson Limited is the Dual Cyclone bag less vacuum cleaner that functions on a theory of cyclonic separation. With a staggering growth of 300 per cent and a presence in more than 45 countries worldwide, Dyson’s net worth currently is ?
9 Pages(2250 words)Essay
Intellectual Property for Entrepreneurial Business Venture
Intellectual property is ordinarily divide into two categories: (1) industrial property consisting of patents for inventions, trademarks, industrial designs and geographical indications; and (2) copyright consisting of literary works like novels, poems, films, plays, musical works, other artistic works like drawings, photographs, paintings, sculptures and architectural works.
4 Pages(1000 words)Essay
Entrepreneurial Management and Leadership
Zahra (1991) suggests that corporate entrepreneurship is actually creating a new business in existing firms as a means of enhancing profitability and to strengthen competitive advantages. In this context, CE should be defined as
16 Pages(4000 words)Essay
Let us find you another Essay on topic A historical and critical analysis of an entrepreneurial venture for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us