Research Leadership Skills: Entreprenueral Venture

LEADERSHIP SKILLS
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Institutional Affiliation
1 Describe the following: Entreprenuership and Entreprenueral Venture
Entrepreneurship is the process whereby an individual recognizes a business opportunity, then acquires the necessary resources which will help in gaining profit. Entrepreneurial venture can be considered as a small business. Based on the demand of the market, it will determine the creation of a business venture.
2 What is a Business Plan and why is it important
A business plan is a draft on goals of a business. It entails information about the structure of the business like individual duties, goals and sales targets. Its main purpose is to act as a management tool which can be referred to on regular basis to ensure the business is on the right track of achieving the goals.
3 List and explain some of the myths and responsibilities of Entreprenuership.
There are alot of wrong myths about entrepreneurs. Some of the myths include, that an entrepreneur is a high risk taker, but just like any other business people, entrepreneurs are always ready to face the challenges. It is believed that entrepreneurs possess genetic talents. However, experts believe that most entrepreneurs just learned how to become entrepreneurs on their own. The entrepreneurs are believed to be loners and introverts. The truth is that an entrepreneur knows that they need to interact and share experiences with others in order to succeed. Some of the responsibilities of an entrepreneur include; Taking risks for the enterprise in order to bring profits. An entrepreneur seeks to fill the gaps of the wants and needs of a customer. Entrepreneurs are experienced in beating the competitor by the uniqueness of their products and the services they present.
4 Describe the term VISION and it's importance with regard to corporate leadership.
The term vision in the corporate world of leadership, means having a distinctive view of the future based on the decisions made in an organization. Any leader with a vision is always focused in the aim of achieving the goals. Having vision in co...