Entreprenuership Is Not All About Making Money

Entrepreneurship Is All About Making Money. Discuss.

In order to determine whether, ‘entrepreneurship is all about making money,’ we might first refer to the definition of entrepreneurship. According to Carter, ‘entrepreneurship is a process of identifying and starting a business venture, sourcing and organizing the required resources and taking both the risks and rewards associated with the venture.’ The process of entrepreneurial activity then is the identification of market opportunities, followed by the exploitation of these opportunities via the acquisition and utilization of resources, all taking place with the chance of reward and failure. Ultimately, ‘making money,’ will be at the back of every entrepreneur’s mind, even if it is to make just enough to break even. However, this essay assumes the title question in using these words refers specifically to generating profit. The presence of the word, ‘all,’ in the question invites disagreement as obviously it would be difficult to suggest making money is the only concern of entrepreneurship. A substantial part of this essay will thus consist of arguments against the title statement. When considering the title statement, we must also consider multiple perspectives- one being from the entrepreneur’s themselves, another being from those whom entrepreneurship affects, for instance consumers, as well as others who may be indirectly affected by an entrepreneur’s actions, for example society in general, environmentalists, governments and charities. This essay will address these many disparate perspectives in order to construct a more wide-ranging answer.

Many argue entrepreneurship is not all about making money. This objection can be made when researching the motivations of entrepreneurs themselves. Often internal motivations (like personality) feature more prominently than external ones (such as money-making). According to Carter (2012), ‘entrepreneurs experience high need for achievement, making them...