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Entrepreneurship And The Business Environment
By Dock Murphy
Everywhere you turn nowadays, you always hear about venturing into entrepreneurship. But what is
entrepreneurship exactly? It is actually defined as the process wherein a group or an individual makes
an effort to pursue opportunities to satisfy needs and wants through uniqueness and innovation. Some
people have the misconception that entrepreneurs are gamblers in the sense that they take risks and
invest in industries that have no record of success. However, the truth is, these entrepreneurs take
calculated risks that have the potential to provide them with huge returns.
The key factors you need to remember about entrepreneurship are opportunities, innovation, and
growth. An entrepreneur sees opportunities in environmental trends and changes that nobody has
seen before and pursues this opportunity with whatever resources he has at hand. The second theme
in entrepreneurship is innovation which involves transforming and revolutionizing existing products or
services to cope up with the changing global environment. The third theme is growth; this involves the
continual efforts of an entrepreneur to expand his business locally and internationally. An entrepreneur
is on the constant look out on how to create new approaches to make his business grow and become a
huge success.
These themes are the key factors which businesses are founded upon. The largest corporations you
find today did not start out big, rather they started out as small enterprises by visionaries who want
more than what is offered