Principles of Entrepreneurship

A financial organisation, which provides loan facilities to aspiring entrepreneurs, is conducting a seminar on entrepreneurship to assist successful loan applicants. Upon realisation that you are a student on attachment from CUT whose market is entrepreneurship, innonation and wealth creation. Your Chief Executive Officer has requested you to the:

Required

Make a convincing and comprehensive presentation on principles of entrepreneurship.

An entrepreneur is someone who can identify an opportunity and gather necessary resources to exploit the opportunity, profitably after taking the risk. An entrepreneur is one who is willing to bear the risk of a new venture if there is a significant chance of profit, according to Holden (2011). An entrepreneur goes for beyond profit and can offer an own personal service and is able to adapt to the ways of a customer easily such that they are in a flexible position than small business.

To be an entrepreneur there is need for them to be creativity, dedication, determination, flexibility, leadership, passion, self-confidence and smarts.

Creativity

It is the sparky that drives the development of new products or services and ways to do business. It is the push for innovation and improvement .It is the continuous learning, questioning and thinking outside of presented formulars. For example, the use of use of Ecocash, Econet Wireless saw the opportunity and created Ecocash accounts where one can send or receive money through the phone.

Dedication

Is what motivates the entrepreneur to work hard, 12 hours a day or more, even 7 days a week, especially in the beginning, to get the endeavour off the ground. Planning and ideas must be joined by hard work to succeed. Dedication makes it happen. For instance EMA, it is an organisation that has just sprung out not long way back but just because that it is so dedicated to its work and its mission, each and every year it will be at another level because it also considers the...