Entrepreneurship Assignment Example | Topics and Well Written Essays - 2750 words

Entrepreneurship - Assignment Example The literature reviewed includes the common myths regarding entrepreneurship, common characteristics associated with entrepreneurs, how entrepreneurial behaviour affects business, and Anita Roddick's (of The Body Shop) view on entrepreneurial qualities. Next, a guideline for the research process for candidate selection is presented. The findings from published literature and questionnaire are then used to analyse the entrepreneur's business and background. There is much literature and beliefs about what makes a successful entrepreneur. In order to deconstruct this process, this essay will examine the common myths regarding entrepreneurship and the common characteristics associated with entrepreneurs. In addition, a study done in Central London examining how entrepreneurial behaviour affects business cements the earlier two literature reviews. Lastly, the essay will look into the beliefs of an established entrepreneur, Anita Roddick of The Body Shop and understand what she thinks are important entrepreneurial qualities. (1) It is about starting and running a small... (3) It is an "either/or" thing: Entrepreneurship is not a fixed concept and the key is to recognize that it is a variable phenomenon. (4) It is about taking wild risks: Risks are assumed and taken, but they are calculated risks where the underlying risk factors are identified. (5) Entrepreneurs are born: Environment plays a big part in the development and realization of potential where the accumulation of activities, skills, and knowledge over time is crucial. (6) It is about greed: The real motivator behind entrepreneurial behaviour is not money, power or position but the desire to achieve and make a difference. (7) It is about individuals: The existence and quality of a team is critical as no one individual has the ability, time or talent to bring a concept to reality. (8) There is only one type of entrepreneur: Entrepreneurs come from all walks of life and represent a diverse mix of age groups, races, religions, cultures, genders, and occupational backgrounds. (9) It requires a lo t of money: Entrepreneurial individuals are opportunity, not resource driven and do not limit the scope of their vision by their resources owned but by leveraging their resources. (10) It is about luck: It is about hard work, creative insight, in-depth analysis, adaptability, and openness to an opportunity. (11) It starts with a new product or service: It is about determining whether a need exists, how extensive that need is, how satisfied customers are with their current products, what the switching costs will be, and whether there is meaningful advantages in the product or service. (12) It is unstructured and chaotic: When dealing with the unknown, it is important