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Entrepreneurship - Essay Example

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This work tells that the process of entrepreneurship may lead to the formation of new enterprises or organizations or the transformation of the already existing ones into more productive firms. Entrepreneurship as a discipline is not limited to the business field alone…
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Download file to see previous pages There is also political entrepreneurship which is a discipline involving the application of the entrepreneurial principles by politicians to benefit from the political arena.
Intra-prerneurship is another form of entrepreneurship that entails the application of the entrepreneurial principles within the organization in order to transform the whole organization by changing the way things are done in that organization. Within the organization, an entrepreneur acts as an agent of change, seeking to change the status quo of the organization. The entrepreneurial activities involve changing the way the business is done through an introduction of new goods and services or new processes. It also entails the exploration of new sources of material for use in the production process as well as new combinations that gives quality products while minimizing on the costs incurred. Thus, entrepreneurship is about creating business efficiency and effectiveness. It involves the process of creation of new business entities or making the already existing ones more productive (Livingston, 2007 p45).
My future ambition is to become an astute entrepreneur, establishing new business and making them more productive and profitable. This is in line with the entrepreneurial characteristics that I posses. The fact that I have discipline is a pathway towards enabling me become an entrepreneur. This characteristic is desirable for any one aspiring to become an entrepreneur, in that it determines the commitment that the individual will have towards the business they seek to establish or run. Even though capital and visionary objectives may count as necessities towards becoming a successful entrepreneur, they do not count as does discipline. Discipline ensures that individuals commit themselves to the business they want to start or the one they are heading, giving it all their efforts. It is this discipline that ensure that the entrepreneur do not give up trying when the business seems not to be performing as expected (Bailetti, 2012 p120). Further, discipline ensures that individuals takes responsibility, and are accountable for each of their activities. Without discipline, an individual would skip some of their duties and opt to indulge elsewhere, when they are not supervised or monitored by other people. It is discipline that guarantees individuals good leadership, which is a necessity for achieving success. To achieve team work, which is a necessity for success in any business undertaking, an individual needs to be disciplined. It allows them respect other members of their team and accept to be led by others without feeling as though they are the best in everything (Howkins, 2005 p11). High risk propensity is the other of my trait that can see me through my ambition of becoming an entrepreneur. This characteristic is desirable since the world of business is very dynamic, and some occurrences are never foreseen or anticipated until they occur (Duening, 2009 p66). It is difficult to adapt to market changes, if an individual lacks this trait in them. Risk taking propensity allows an individual to invest in a field that others consider inappropriate to commit their resources. A high risk taking propensity allows individuals to seek for resources to start businesses, when they are in shortage of such resources. If individuals ...Download file to see next pagesRead More
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