The Business Idea: Entrepreneurship - Assignment Example

Name Name of Instructor entrepreneurship Introduction It is worth noting that various businesses and organizations are ideas of particular people put into practice.... The entire process of investigating demand and supply patterns of given product in a given business environment, and establishment of businesses to address the potential and existing demand entails the process of entrepreneurship.... entrepreneurship refers to the act of collecting and incorporating business ideas aimed at achieving purposeful and unique innovation in the production of a given product or service (Carsrud and Malin 7)....

Thus, innovation in the business field is required.... A need for innovation in this field is a sign of constant development of the business world and reflects a dynamic nature of all participants of the business world (Bessant & Tidd, 2009).... Literature review on intrapreneurship and entrepreneurship………………….... 3 entrepreneurship and innovation Introduction Human activity has reached its height in XXI century....

hellip; The second part of the paper also explores how different the approach would have been and the changes in the marketing environment if the product had been introduced into the market by way of entrepreneurship.... The second part of the paper also explores how different the approach would have been and the changes in the marketing environment if the product had been introduced into the market by way of entrepreneurship.... The main purpose of the activity is to shed light on the difference between intrapreneurship and entrepreneurship in a practical setting....

When this is the case, there always would be a need for change....

hellip; Entrepreneurship is the process of establishing and implementing a new business idea with the aim of obtaining profits.... An entrepreneur is an individual that takes part in the process of inventing, organising, planning and implementing a business idea.... An entrepreneur is responsible for the success of the business and any failures result in business closure or a reduction in profits.... The paper "Alternative Theories and Effective Entrepreneur Characteristic " discusses that the discovery theory explains entrepreneurship based on aspects of innovation, the identification of opportunities and bearing risks....

This paper presents the concepts of entrepreneurship which are considered to be the process of developing and uncovering an opportunity and creating value by seizing the opportunity through innovation, without any regards to the location of the intrapreneur or entrepreneur in existing or new company.... From the report it is clear that both entrepreneurship and intrapreneurship involves defining and recognizing opportunities.... entrepreneurship and intrapreneurship are driven by one or two individuals who then work with the team of people for bringing the concept into practical life....

Entrepreneurs pinpoint such opportunities and tap them, thereby coming up with a business idea.... According to Van and Becker (2004), entrepreneurs calculate the costs of taking up a bright idea forward against the potential gains if that idea succeeds.... This paper discusses how entrepreneurs use creativity to develop business ideas and innovations....

From the point of view of venture capitalists, entrepreneurship is an art of converting the successful creative business idea in to the successful running business.... ntrepreneur has to launch its business at the very exact point of time when the business finds opportunity and great demand in the market and all the calculations and analyses of feasibilities show positive results. ... he products and services sold by the business must have good attraction to the target market and the ability to capture those targeted consumers. ...