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Essay Available:
Pages:
7 pages/≈1925 words
Sources:
1 Source
Style:
Harvard
Subject:
Business & Marketing
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 30.24
Topic:

What Does Entrepreneurship Entail?

Essay Instructions:

1-it must included more than ten reference, 60%of the reference should be the academic reference
2-do not use the reference in very simple or popular website like Wikipedia.
3-Except for your own thinking，any truth should be with reference.
4-the critical thinking should be shown step by step , deeper and deeper
5-Let the theory as a framework and your thinking as the details.

Ethical issues that you might have to address? (Please also refer to the marking rubric in subject learning guide for more information about this criteria)
5. Human Resources
(where possible, please support this session with relevant research, facts and figures)
The following (but not limited to) major questions are to be addressed:
5.1. What technical and management experience is required?
5.2. Who are the owners and what are their roles? (Entrepreneur, Manager, Technical Expert etc)
5.3. What is the ownership structure?
5.4. What are the manpower requirements?
• How many employees will you need in the 1st, 2nd and 3rd years?
• How will you find the right employees?
• How will you compensate employees (pay for time, for production, for knowledge, or a combination)?
• How will you motivate employees?
• What training will they need on an ongoing basis?
5.5. What is the company’s growth strategy?
• How will quality be managed and maintained?
• How will organizational structures change with growth?
• What career paths will employees have available?
6. Finance
(where possible, please support this session with relevant research, facts and figures)
The following (but not limited to) major questions are to be addressed:
6.1. What are the projected Revenues from the sale of your product or service?
• From the market research, what is the selling price per unit?
• From the market research, what is the projected sales volume in "units sold?" and in "dollars sold"?
• What is the total expected revenue?
6.2. How much is the start-up costs and equipment/capital costs (see attached Appendix 1 for the template)?
6.3. Prepare the projected Profit and Loss statements for the first 3 years (see attached

• i\ey Kesources
. Key Partners
• Revenue Structure
• Cost Structure
3. Market
(where possible, please support this session with relevant research, facts and figures)
The following (but not limited to) major questions are to be addressed:
3.1. What is the size of the market? Is the market at full capacity?
3.2. What is the growth rate of the industry? How competitive is the industry? What keeps new competition from entering this market (barriers to entry)?
3.3. Is there any trend that is affecting positively or negatively firms in the industry?
3.4. How can the market be segmented?
3.5. Who and Where are the targeted customers?
3.6. Where are customers getting the product now? Who are the major competitors in the market and how strong are they?
3.7. Where is the location of the business? How many customers would potentially purchase from you?
4. Operations and Technology
(where possible, please support this session with relevant research, facts and figures)
The following (but not limited to) major questions are to be addressed:
4.1. What are the options for developing the technology (customer, off the shelf, design by yourself, or subcontract)?
4.2. What technological changes are changing or emerging that may affect the business?
4.3. What are the options for producing the product or service? (in-house, subcontract, license, joint venture or partnership, or a combination of those options).
4.4. What are the options for sales and distribution? (in-house, whole sale, distributors or sales representatives, license, joint venture or partnership, or combination)
4.5. What resources are required for development and are they available to you (skills, raw materials, components, suppliers, facilities & equipment etc)?
4.6. What are the laws and regulation relating to the business? (e.g. industry standards or regulations, personal certifications, intellectual property (patents, trademarks, copyrights),

• now win quality oe managed ana maintained?
• How will organizational structures change with growth?
• What career paths will employees have available?
6. Finance
(where possible, please support this session with relevant research, facts and figures)
The following (but not limited to) major questions are to be addressed:
6.1. What are the projected Revenues from the sale of your product or service?
• From the market research, what is the selling price per unit?
• From the market research, what is the projected sales volume in "units sold?" and in "dollars sold"?
• What is the total expected revenue?
6.2. How much is the start-up costs and equipment/capital costs (see attached Appendix 1 for the template)?
6.3. Prepare the projected Profit and Loss statements for the first 3 years (see attached Appendix 2 for the template).
6.4. What are the possible sources of financing?
• Where is the money from?
• What are the chances of getting the money?
• What will you have to give up?
References
12-15 references required, at least 03 academic references needed; Harvard referencing style.
AppendicesAppendix 1Business name iFranc.hisfi fees

Essay Sample Content Preview:

ENTREPRENEURSHIP
Author
Name of Class
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School
City
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Date
Entrepreneurship as a subject has a wide scope of application. In today’s corporate world, the competitiveness and performance of companies largely depend on the entrepreneurial abilities of managers. Collectively, the wealth creation mechanisms, as well as the dynamics of the economy, rely on the creativity of the existing executive officers. Therefore, we could say that entrepreneurship leads to specialization of functions in the modern firm set up. In essence, there are two people that control the firm in terms of introduction of new ideas; the owner of the business and the chief executive officer who is the corporate entrepreneur. They both go through pressure while managing company operations. According to scholars, the subject matter can be understood best by comparing and contrasting the functions of a manager, a capitalist and an entrepreneur (Kirzner, M .2016, 37).
For the case of an individual entrepreneur, he or she can apply several options to a new business idea and then create a business opportunity. Afterward, the individual may act as an arbitrator, sell the business concept to potential buyers, or actualize the idea through funding to create a firm. As mentioned earlier, the modern day definition of entrepreneurship also includes the chief executive officers of large firms. These are people who have increased responsibilities, different from coordination and control of activities as well as efficient management of firm assets. Following this, the officers are supposed to articulate and be responsive to the expected changes. Basically, these people should be able to develop new networks for the company by remaining innovative and creating new enterprise ‘spin-offs’ (Cooper, A & Folta, T .2017, 349).
The best ideas made by an entrepreneur in a large set up consists of efforts from various parties. For instance, the key shareholders mostly come across discussions with the CEO. Furthermore, the corporate businessman works hand in hand with middle-level managers to come up with competent new enterprises. However, the main responsibility of the manager is the efficient management of the firm’s business portfolio. This is a move which ensures that the process of combining resources runs smoothly. In most keys, firms require the expertise of a manager when the performance assumes a downward trend. In this manner, the firm is able to improve and even surpass their production boundaries. Secondly, it is upon the manager to create a conducive and conflict-free environment for employees. This is a task that requires the manager to transform policies regarding conflict by building trust and reputation within the firm. Trust and reputation have great benefits in a firm; self-interest and opportunism become manageable, reduced supervision and agency cost as well as the improved degree of efficiency. In comparison to an entrepreneur, a capitalist can perform various duties and can occupy different positions. For instance, he or she channels funds to the firm actively or passively through majority shareholding. However, the capitalist can occasionally occupy entrepreneurial or management positions for the case of ...
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