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Entrepreneurs - Essay Example

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He is also responsible for the inherent risks and the outcome of the venture. Typically, an entrepreneur starts with an idea and builds an enterprise with the idea as the base. Eventually,…
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Download file to see previous pages Also, the theoretical evaluations and research the entrepreneur has done before setting up the enterprise are bound to differ. Thus, many enterprise fail and this has made entrepreneurship often a difficult and tricky.
Many theories abound Entrepreneurship, Entrepreneur and Enterprise and a lot of events in the industry complement these theories. Specifically, the Enterprise in Events is one of the fastest growing in the serviced sector and much of the growth is accelerated by the growth of small and medium sized enterprises. There are several kinds of event planning. The list includes celebrations such as fairs, parades, weddings, reunions, birthdays and education related events such as conferences, meetings, graduations and also product launches, political rallies, fashion shows, memorials and civic events. Sometimes events might be purely business related or social or sometimes a mix of both. To manage these events, it is imperative to identify new areas of development and induce creativity into the workings. Therefore, to sustain growth and to maintain profits in the service industry, and entrepreneurial mindset is essential. Moreover, to tackle problems in targeting the right audience, analyzing the business growth and raising funds for the enterprise a disciplined set of principles are definitely required.
One of the principles of Classic Economic Theory projects the ways in which an Entrepreneur should make investments. It supports stating that if an entrepreneur should make investments then even a one percent rise is sufficient. Certainly, in theory a one percent increase is profitable. For instance, if an entrepreneur has $100 and if $1 is the profit per month, then Classic theory states that this is a viable investment. Nevertheless, as theory does not take into consideration, the practical constraints into consideration, this might not be a competent idea to run the ...Download file to see next pagesRead More
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