Answer the Questions Coursework Assignment (Coursework Sample)
Answer this three questions one page for a question.
1)Define entrepreneurship,describe the characteristics of a successful entrepreneur,and present self-assessment of your entrepreneurial traits.Also identify someone whom you consider to be an effective entrepreneur and explain the reason your consider the person to be successful.
2)Explain each of the following two terms:
Discuss the role of them plays in entrepreneurship,and include three specific examples of each of these concepts.
3)Discuss the three methods of entering an entrepreneurial venture,including starting a new business,buying an existing business,and becoming a franchise.Present advantages and disadvantages of each method.
Before choosing one of these options,what type of research would you suggest that an entrepreneur do in order to make an informed decision?
Suggested link: https://www(dot)sba(dot)gov/business-guide/plan-your-business/buy-existing-business-or-franchise
Answer the Questions
Entrepreneurship can be defined as an act of creating a business while building and scaling it to generate huge profits. This is the basic definition of entrepreneurship, and its advanced or modern definition is that it is a way of transforming the world of business by solving complex and big problems. The first characteristic of successful entrepreneurs is that they are disciplined. They know how to make wise decisions and are always ready to work under pressure. They are capable of eliminating the hindrance or distraction to their goals. In addition, entrepreneurs are confident and do not ask questions like whether success is possible in a specific task or project or not. They exude their confidence in everything they do. Thirdly, entrepreneurs are sharp-minded and open-mind; they understand that every situation or event is a business opportunity.
In my case, I am a self-starter and can work alone without anyone’s help. However, this does not mean I am not able to manage a team. In fact, I cooperate with my team members while accomplishing sophisticated tasks and work alone whenever there is an urgent project. Another entrepreneurial trait is that I am creative. I do not love following the footsteps of others and instead create my own solution to every problem.
In my circle, the best or effective entrepreneur is no one but Mr. X. He is capable of handling multiple projects at a time. Mr. X has great communication skills and has spent years in the business world as an entrepreneur, marketer, and data analyst. Passion is the most important characteristic or trait of this entrepreneur. He genuinely loves his work and is always willing t put in extra hours to ensure the success of the business.
Ethics is all about defending, recommending and systematizing concepts of right and wrong. Entrepreneurial Ethics are certain codes of conduct that are employed by entrepreneurs to leave positive impacts on society. The first example is when
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