Entrepreuer :: GCSE Business Marketing Coursework

EntrepreuerEntrepreneur, one who assumes the responsibility and the risk for a business operation with the expectation of making a profit, the entrepreneur generally decides on the product, acquires the facilities, and brings in concert the labor force, capital, and production materials. If the business succeeds, the entrepreneur reaps the reward of profits if it fails, he or she takes the loss. Entrepreneurial leadership is vital to an individual and to a corporation?s success. Entrepreneurial firms are a major source of innovation and change. They create jobs, new tax revenues, and other transfers of money. At a time when U.S. productivity draw-home is lagging behind other countries, and when our large corporations are laying off workers and focusing on core businesses, entrepreneurial firms assume a more material role They do what large companies are not doing The process itself consists of the set of activities necessary to identify an opportunity, develop a business concepti on, and then manage and harvest the venture. As a process, it has applicability to organizations of all sizes and types. The entrepreneurship construct has three underlying dimensions innovativeness, or the development of novel or unique products, services or processes risk-taking, or willingness to pursue opportunities having a reasonable chance of costly failure and proactive ness, or an emphasis on persistence and creativity in overcoming obstacles until the innovative concept is fully implemented.In 1953 the US government created an independent agency called the Small Business Administration. Its functions are to make loans to small businesses unable to obtain financing from confidential sources on reasonable terms, to help small firms sell