Original Assignment:

Assignment 2: Discussion—Entrepreneurs and the World of Business

In this assignment, you will discuss the role of entrepreneurship in improving the economic condition of countries and individuals and understand the manner in which this perception has spread around the world.

Tasks:

Entrepreneurship is being increasingly practiced in countries throughout the world. On the basis of this statement, answer the following questions:

  • Why do you think entrepreneurship is growing around the world? Do you expect this trend to continue, or do you think entrepreneurship’s appeal will subside over time?
  • What are the three primary reasons that lead people into becoming entrepreneurs?
  • Which reason would better describe an eventual personal choice to become an entrepreneur?

Submission Details:

  • By the due date assigned, in about 300 words, post your responses to this Discussion Area.
  • Through the end of module, respond to at least two of your classmates’ posts who chose perspectives different from yours. While responding, address issues brought up in your classmates’ posts and compare them with yours.

Write your initial response in 300–500 words. Your response should be thorough and address all components of the discussion question in detail, include citations of all sources, where needed, according to the APA Style, and demonstrate accurate spelling, grammar, and punctuation

Do the following when responding to your peers:

  • Read your peers’ answers.
  • Provide substantive comments by
    • contributing new, relevant information from course readings, Web sites, or other sources;
    • building on the remarks or questions of others; or
    • sharing practical examples of key concepts from your professional or personal experiences
  • Respond to feedback on your posting and provide feedback to other students on their ideas.
  • Make sure your writing
    • is clear, concise, and organized;
    • demonstrates ethical scholarship in accurate representation and attribution of sources; and
    • displays accurate spelling, grammar, and punctuation.

Student Response:

Entrepreneurs and the World of Business

According to Mariotti, and Glackin, (2011), “An entrepreneur is someone who recognizes an opportunity to start a business that fulfills a consumer need other people may not have noticed and jumps on it”. Those who engage in entrepreneur ventures are risk takers, because they tend to take full advantage of the opportunity offered by the business venture and at the same time strive to control some of the risks associated with such business (Career Center, 2018). 

Why do you think entrepreneurship is growing around the world? 

Entrepreneurship is growing around the world because of the opportunity business owner must be independent and to provide business services that well-established business may not be able to provide due to certain circumstances, such as locations and size of clientele. 

Do you expect this trend to continue, or do you think entrepreneurship’s appeal will subside over time?

I believe the trend will continue. The emerging worldwide economic changes and advancement in modern technology have created many business opportunities for people to research and engage in what suits there needs. Information obtained from U.S. Small Business, (2011), indicated an increase in business activities by people engaged in entrepreneurship. 

  • Home-based businesses make up 52 percent and franchises compose 2 percent of small firms. 
  • Small businesses represent 99.7 percent of all companies with employees. 
  • Small firms constituted 96.5 percent of all identified exporters and produced 30.2 percent of the country’s known export value in fiscal year 2007. 

What are the three primary reasons that lead people into becoming entrepreneurs?

People that opted to become entrepreneurs, do that for various reasons and some of these reasons, play important role in aiding in the decision on the type of business to engage into. Control over time, fulfillment, and control over working condition, are some of the primary reasons that lead people into becoming entrepreneurs. 

Which reason would better describe an eventual personal choice to become an entrepreneur?

Mariotti, and Glackin, (2011), believes that “Entrepreneurs start and operate their businesses for different reasons, but they share the common focus of creating sustained value for themselves”. The need to be independent would better describe an eventual personal choice to become an entrepreneur. It is not uncommon for some people, after working for other establishments, chose to start their own business because they do not want to be accountable to anybody. 

References 

Mariotti, S., Glackin, C. (12/2011). Entrepreneurship: Starting and Operating a Small Business, 3rd Edition. [Argosy University]. Retrieved from https://digitalbookshelf.argosy.edu/#/books/9781256690818/

Career Center, (2018), Entrepreneurship and Business Development: What is Entrepreneurship and Business Development? Retrieved from https://uncw.edu/career/entrepreneurship.html

U.S. Small Business Administration, Office of Advocacy, Small Business Profile: United States, February 2011, and Office of Advocacy Research and Statistics, http://www.sba.gov, March 11, 2011.

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