Business Entrepreneurs - 896 Words

The entrepreneur is the pioneer, the managers the applier of existing best practices. The entrepreneur engages in strategic activity, the managers need to focus on tactical or operational activity. The entrepreneur formulates a strategy, the manager implements that strategy. Business success will depend on the continuing renewal and application of the entrepreneurial spirits. Business success depends on the application and an efficient management team. The attrition rate of any new business is extremely high. In the US, the supporter of the entrepreneurial spirit, numerous new enterprises will fail each year. However in a long-term historical perspective, business success is short-lived. Only a handful of the largest companies with break†¦show more content†¦Companies may however, choose a stability strategy because the entrepreneur is mostly generating employment for family members. Providing the family a decent living†, and being the boss of a firm small enough that he or she can manage it comfortably. Finally some business owners dont pursue a growth strategy because they do not want the loss of control that results from bank debt or the sale of stock to outsiders. Question 12 What are advantages and disadvantages of privatization of state- owned business? The privatization of state-owned business enterprises is likely to continue globally for most of these enterprises must expand internationally in order to survive in the increasingly global environment. They cannot compete successfully if they are forced to follow inefficient. Policies and regulations emphasizing employment over efficiency rather than economically oriented, international practices will emphasize efficiency over employment. The global trend to privatization will probably continue until each country reaches the point where the efficiency of business is counter by the effectiveness of the not-for-profit of economy. However as political motives overcome economic ones, government will likely interfere with that decision. Some of the advantages of taking a company from state-owned to a private company are that it will force the company to operate efficiently without state subsidies. If you do not do so you will go out of business. You will beShow MoreRelatedAn Entrepreneur And Develop A Successful Business Essay1983 Words   |  8 PagesWould you like to become an entrepreneur and develop a successful business? The following will provide information on how to do this in the ever-changing marketplace of the 21st century. Developing business ideas are easy, however actually developing a successful business in the 21st Century is known to be more difficult. Therefore, the 21st-century entrepreneur requires great skills, qualities, and attributes. â€Å"In a small business, you can be both the entrepreneur and the manager while you areRead MoreWhy Entrepreneurs Start Their Own Business1676 Words   |  7 Pagesdeveloping society. The term ‘entrepreneur’ is becoming increasingly common amongst individuals in society. Living in a constantly developing world, with rapid technological, environmental and social changes that effect the way we live means the modern man is constantly seeking new and innovative ways to adapt to these changes. During this research paper I will discuss my findings of what the motivations are of an entrepreneur to start a business. Having interviewed an entrepreneur, I got a sense of howRead MoreEntrepreneurs Personality for Being Successful in Business3102 Words   |  13 PagesEntrepreneurs Personality for Being Successful in Business Miss. Sarita Ghanshyam Tiwari, (M.Com. M. 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EY Entrepreneur of The Year Award s Director, Jon Hooper stated that â€Å"Successful entrepreneurs have an extraordinary passion, self-belief and that keeps them going when others might giveRead MoreEntrepreneurs Are Born Not Made And How The Small Start Ups Changed The Business Industries Essay1724 Words   |  7 Pagespaper are: entrepreneurs are born not made and how the small start-ups have changed the business industries. Many arguments were for and against that entrepreneurs are born with inherent highly developed business skills. Entrepreneurship is a comprehensive term that is an immensely arduous to delineate (Thurik and Carree, 2005). 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The depiction of entrepreneurs in the media often differs to the reality of who they actually are. Most people would describe entrepreneurs as â€Å"heroes who stand alone† or someone who is â€Å"very special†, (Shane, 2009, p.40). This isn’t actually the case, as the common entrepreneur isn’t necessarily someone who starts a huge conglomerate. A typical entrepreneur is instead likely to be a white male in his