Description
An academic literature review on Entrepreneurship with discussion of its application under the sub-headings, (a) Marketing, (b) Operations (c) Finance, (d) Human Resource, and (e) Information Technology. The peer-reviewed resources should not be more than 5 years old.
Explanation & Answer
Attached.
Running Head: ENTREPRENEURSHIP
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Entrepreneurship
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ENTREPRENEURSHIP
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Entrepreneurship can be defined as the process of taking on risks in the hope of realizing
a financial gain in the end. The risks taken here are mostly financial since the entrepreneur will
go back into their pocket and invest with the hope of realizing a gain on top of being able to
recoup spent money. It requires an entrepreneur to put up a business so that business operations
may be able to help them yield the financial yields according to the fulfillment of needs of the
masses. Entrepreneurship has grown to the extent of being applied in the fields of marketing,
human resource, finance, operations as well as information technology, where the marriage of
these ideas has led to better and efficient service delivery.
Marketing
According to Amwata (2016), a combination of entrepreneurship and marketing can be
said to be one of the best things that have ever happened to the business world. Despite the
overlapping that seems to exist, the combination can be said to behind the corporate success in
the business world today. In any size of business, it is important to note that entrepreneurial skills
come in handy when it comes to matters to do with marketing. The concepts applied in
entrepreneurship are applied to the concepts of marketing through means such as product
development, buyer behavior, sales and strategy in marketing. Marketing ideas are also being
applied to ventures that are coming up or in start-ups. Start-ups require new and developing ideas
in order for success to be assured. Entrepreneurship also relates to marketing in other ways such
as meeting needs of customers in certain target markets, use of innovative techniques in business,
new business ideas' identification, as well as movement or transfer of products to the target
market. One cannot do without the other in such cases (Amwata, 2016). Entrepreneurship is also
involved in matters to do with the production, development, and sale of products, as well as in
the recruitment matters. Taking this into consideration, it is safe to say tha...
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