StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Entrepreneurship: Opening doors to small businesses in the United Kingdom - Essay Example

Comments (0) Cite this document
Summary
There is no greater source of innovation within a country's economy than within its entrepreneurs. Entrepreneurship can be defined as "the process of creating value by bringing together a unique package of resources to exploit an opportunity" (Stevenson, Roberts, & Grousbeck, 1989)…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER91.7% of users find it useful
Entrepreneurship: Opening doors to small businesses in the United Kingdom
Read TextPreview

Extract of sample "Entrepreneurship: Opening doors to small businesses in the United Kingdom"

Download file to see previous pages The success story behind Dell Computers is similar - one man in Austin, who found a way to get inexpensive computers directly to the consumers, began filling orders from his garage as well. The reasons for this are many, but the corporate world does not, as a rule, welcome innovation. Once success has been attained, a corporation's primary concern becomes the bottom line. Experimentation does not have a predictable profit margin, and so it is not welcome within many corporate environments.
And so where is a particular economy supposed to receive its new ideas Does anyone think that BP or Texaco or ExxonMobil is interested in developing the engine technologies that will make them obsolete Or will the fuel-cell cars, the all-electric engines, also emerge from garages and small automobile shops the world over Thus far, this has been the trend in alternative energy, and the ways of human nature virtually ensure that true innovation in industry will come outside the major corporations. Baudeau was the first to note the role of the entrepreneur as an innovative force in an economy. Of particular interest to him was the entrepreneur's potential to take new knowledge and information and transform that into a powerful effect on the economy's progress (Grebel, Pyka and Hanush, p. 3). Schumpeter came to a similar conclusion in his examination of the forces behind changes in the economy that could be empirically proven. Schumpeter referred to the causes of those changes as innovations, and he called the source of those innovations (according to him, "new combinations") the entrepreneur (Grebel, Pyka and Hanusch, p. 4).
The interest in new small business is present in the UK: according to a "Household Survey of Entrepreneurship" by NOP Social and Political in 2004, carried out for the Small Business Service, 13%, or about 1 in 8 people, were involved in some sort of entrepreneurial business or activity. 11% more were contemplating beginning such a business themselves. While there was general optimism, 90% of respondents felt that, if a start-up business folds, its owners should be given the support to start over and try that business again.
But how can the government locate these entrepreneurs Many of the people sitting at home with great ideas do not possess the means, the initiative, or even the basic knowledge of how to get their small business started. There are two models that analyze how one can find these enterprising individuals - models that explain successful entrepreneurs based on how the people themselves respond to situations, and how those people's environments affect them; as three theorists put it:
Only in those cases where the actors' perceived comprehensive endowment appears to be sufficient to enter a market and the expected economic future signals promising rewards, is a new firm born. The birth process has an influence on the industry level, which in return has a feedback effect on the micro-level and thus the future decision processes of other agents as to whether to found a firm. (Grebel, Pyka and Hanusch, p.1)
In other words, entrepreneurs will only emerge and attempt a business if they feel like there is a good chance of success, both on the level of personal assets and the economic climate. Entrepreneurs tend to ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Entrepreneurship: Opening doors to small businesses in the United Essay”, n.d.)
Retrieved from https://studentshare.org/miscellaneous/1504085-entrepreneurship-opening-doors-to-small-businesses-in-the-united-kingdom
(Entrepreneurship: Opening Doors to Small Businesses in the United Essay)
https://studentshare.org/miscellaneous/1504085-entrepreneurship-opening-doors-to-small-businesses-in-the-united-kingdom.
“Entrepreneurship: Opening Doors to Small Businesses in the United Essay”, n.d. https://studentshare.org/miscellaneous/1504085-entrepreneurship-opening-doors-to-small-businesses-in-the-united-kingdom.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Entrepreneurship: Opening doors to small businesses in the United Kingdom

New Labour In The United Kingdom

We can acknowledge the re-emergence of New Labour as a party of liberal policies, which is characterized as a belief in legal rights and duties towards a citizen, however, the party’s popularity has affected badly since 2001 for the criticism the new name with an unprecedented comment of ‘spin doctoring’ and ‘New Labour, New Danger’ has brought to it. (Wikipedia, Labour Party UK)
When we focus on the public sector response given to the New Labour’s political vision, it can be seen that New Labour’s public philosophy is a development of the socialist tradition in response to specific dilemmas conceived largely in terms associated with the New Right. This factor should also be considere...
6 Pages(1500 words)Coursework

The Constitutions of the United States of America and the United Kingdom

The principal characteristic of a functioning democracy is the separation of powers. The concept of separation of powers is complex, although it may seem to be simple. This is because it consists of expressive and rigid components. The US Constitution represents the operational capability of the notion of separation of powers. It operates on three functions of the government. First, the executive implements legislation and supervises the administration over the state. Secondly, the legislature enacts the legislation and monitors the work of the executive and lastly, the judiciary interprets the legislations to apply land laws3.

The British Constitution is an unwritten constitution. Therefore, the limitations of the orga...
7 Pages(1750 words)Essay

United States Foreign Policy from 1945-1991

American Presidents presiding over some key events in history, such as the Cuban Missile Crisis, The Cold War, The Vietnam War, etc., were hindered from acting as public representatives due to pressure from the military-industrial complex. John Kennedy, Lyndon Johnson, Ronald Reagan, George Herbert Walker Bush, and George W. Bush – all of them were subject to these opposing interests. But eventually, the corporate-government nexus proved too powerful; and in this sense, American Presidents after the Second World War were largely restricted and powerless to uphold their higher personal values. Most of the strategic moves on part of the United States after the end of the Great War were directly in response to an anticipated th...
11 Pages(2750 words)Essay

The United Kingdom and World War I

It had shown its ability to survive a war and remained a powerful nation of the world (Hardie, Graham, and Kofman).
Almost all the nations in Europe had suffered economically due to the First World War. Most of the European nations were subjected to economic burdens imposed by the war. After the end of the war, the European governments had to make rehabilitation efforts, in respect of the cities destroyed in the war. In addition, they had to provide medical facilities to the soldiers who had been wounded in the war. These governments had to pay pensions to the soldiers, widows, and relatives of the dead soldiers. Moreover, they had to repay the public and foreign debts, and the interest on such debts. These constituted the ad...
6 Pages(1500 words)Assignment

A Small Sports Car as an Investment

The purpose of this report is to determine the “best bang for the buck” if a consumer was looking to purchase a small sports car. A car purchase should be treated as an investment, even though we know that spending money on a vehicle with the high gasoline prices and insurance premiums is probably the worst type of investment money can buy. Therefore, the ultimate purpose is to guide this expenditure in reaping the maximum benefits available.
I will be researching on 2006 2-seated vehicles in the price range of $30,000 - $50,000 in today’s market. The idea is to keep it within the price range mentioned above, so more expensive cars such as Benz CLK and lower-end vehicles such as Honda Civics are not included...
12 Pages(3000 words)Research Paper

The United States Supreme Court

The Court, consisting of nine lifelong justices, bears complete authority over the Federal courts but has lesser power over those of the states. It has the power of “last word” on decisions made by these Federal courts and makes the rules that these courts have to follow in their procedures (Wagman, 1993). In addition, all Federal courts must abide by the decisions laid down by the Supreme Court, as well as the United States Constitution. With respect to state courts, the interpretations and decisions that the Supreme Court makes apply, but the Court is limited to interpreting and changing Federal laws, not state laws. Thus, the Supreme Court cannot change conditions of state constitutions or interpret laws made by ind...
10 Pages(2500 words)Coursework

The Management, Leadership and Teamwork Competencies Required by a Small Business Owner

On the other hand organizational leadership is defined as the ability based on the specific skill of an individual to lead his/her subordinates in a manner that pre-planned organizational goals could be achieved within the defined time-frame.

According to Burns (1978) and Bass (1985), transformational leadership has a set of category constructs such as values, morals, farsightedness, long term goals, principles, acute awareness about the dividing line between causes and symptoms, mission statements, strategic perspectives, and human resources. Similarly, they identify a set of category constructs in the transactional leadership also. For instance concentration on the task at hand, short term goals and tactics, confusion co...
6 Pages(1500 words)Coursework

Effects of the United States of America Troops in South Korea

Despite the few negative incidences of crime committed by the United States of America’s security troops that were deployed in the country on a peacekeeping mission.
Since the war in Korea began in the early nineteen fifties, the United States has stationed tens of thousands of soldiers, mostly the United States’ army personnel, in South Korea. Through the assistance of the South Korean troops and other neighboring governments, the American troops have been able to guard and offer maximum security to South Korean people. In line with the argument of James (2003), ‘most of the military bases in South Korea are relatively isolated’ thus the need for much attention from the troops so as to ensure maximum...
10 Pages(2500 words)Assignment

Immigration and Its Impact on the United Kingdom

For example, for farming communities, fertile and well-watered land has been a pull factor in migration. Business opportunities and political stability are also examples of pull factors.
Since the turn of the 20th century, Great Britain and Northern Ireland have experienced a great influx of foreigners migrating into the country due to pull or push factors. There have been different waves of migrations to the United Kingdom, which has had different impacts. Because of this, the United Kingdom has had to respond in several ways, which includes coming up with new acts on immigration, nationality, and providing asylum to refugees.1 However, the topic of migration to the United Kingdom has attracted different political views and...
23 Pages(5750 words)Assignment

The Main Threat to Small Business

When it comes to reliability factor big businesses are able to sustain because of their track record. Big businesses are able to pacify their customers using their past successful track records.
Nowadays most of the business opportunities and orders are posted online. This means that business providers need to be well integrated with supplier systems through online facilities. The infrastructure of the business model needs to be updated. But this is not an easy task for small businesses. E-based procurement is possible only with a well-maintained network on the internet. This requires a lot of financial and technical necessities which could not be supported by small businesses. On the other hand, Big businesses are well equip...
8 Pages(2000 words)Assignment
sponsored ads
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.

Let us find you another Essay on topic Entrepreneurship: Opening doors to small businesses in the United Kingdom for FREE!

Contact Us