LCO_Week_7_Discussion_Reply
Post 1
An essential skill for the entrepreneur is creativity. Creativity leads to product and/or service conception. Whether it be a tangible product or service to be provided, an entrepreneur’s creativity has conceived the idea. In an article written by Minda Zetlin (n.d.), creativity is not mentioned as vital. However, Zetlin defines six beliefs that are wrong about entrepreneurs that has been adapted from MIT Professor Bill Autlet. She suggests, entrepreneurs are not born with an entrepreneurial brain, individuals do not start companies – teams do, entrepreneurs are not super smart, entrepreneurs need charisma to succeed, and that entrepreneurs are undisciplined and love risk.
My entrepreneurial dream would be providing a product or service that is highly innovative but offers very little risk (entrepreneurial strategy mix). According to research, the entrepreneur is to identify the level of innovation and risk inherent-natural to the venture and pair this with a strategy for implementation that will be effective and natural (Sonfield & Lussier, 2000). If I had to start a company that’s highly innovative and low-risk with a very befitting implementation strategies, I would develop an internet-based publishing firm that is designed to help authors become self-published. What would be your entrepreneurial venture?
Post 2
The entrepreneur is a word used to represent innovation or undertake as per French word (Sascha, Rainer & Matthias, 2010). It is anyone who takes a risk with the goal of financial profit at the end. It takes a lot to be one such as complete true passion, tendency to learning, hard-work and become successful. There are strategies entrepreneurs employ to venture competitive performance and the environment they operate according to the recent research (Sascha et.al, 2010). This paper is therefore further discussing how such new ventures fit entrepreneurship strategies.
The new venture should be created and developed with familiarity because the majority of these new ventures are accompanied by problems. Dealing with economic, social and ecological aspects are the most important issues to consider in creating new ventures to fit entrepreneurship strategies (Thomas, Scott, & Robert, 2018). Income-oriented business is a new venture that fit in innovation in one of the four cells of entrepreneurship. It starts as a small business but with time it grows to international level. Like entrepreneurship business which it never just grows and just decline but they do both sequent while experiencing volatility.