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Running head: ENTREPRENEURSHIP AND SMALL BUSINESS 1

Entrepreneurship and Small Business

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ENTREPRENEURSHIP AND SMALL BUSINESS 2

ENTREPRENEURSHIP AND SMALL BUSINESS

An entrepreneur refers to a person who undertakes the risk of investment and employs his

energy, creativity, and motivation to produce and sell new products and services. His role

includes: taking the risk and minimizing it. It is the role of the entrepreneur to make sure that his

investment has the lowest risk possible by calculating the risk associated with the investment.

Identifying the resource. It is the role of the entrepreneur to identify and choose the best

resources that suit the business operation and ensure the efficiency of each resource employed.

Evaluation of the performance. It is the role of the entrepreneur to ensure that there is a

consistency evaluation of his venture. He should ensure that the financial statements are

accurate to get the right information in regards to his financial position (Morrison, 2000).

An Intrapreneur refers to a person who has the skills of entrepreneur but employees them

in a firm like a manager rather than starting his own. His role includes Ideas identification,

presentation an implementation. It is the role of an Intrapreneur in the organization to identify an

idea and check if it is compatible with the strategies of the firm and goals set by the organization.

Then he presents the idea to the organization members and makes any necessary improvements

then he puts the idea in action. Strategy and planning, he should make effective strategies and

plans to make the organization win over their competitors and grab every opportunity they can.

Expansion of the enterprise. It is the role of the Intrapreneur to ensure that the enterprise grows

by making sure that the people have an entrepreneurial mindset that is geared toward the growth

of the organization (Morrison, 2000).

Skills and traits needed to start a business

For a business to be started and not fail the owner has to exhibit some of the specific

traits. They include: leadership, as the starter of the business one, is needed to be in charge of

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Running head: ENTREPRENEURSHIP AND SMALL BUSINESS Entrepreneurship and Small Business Institution Affiliation Instructor’s Name Student’s Name Course Code Date 1 ENTREPRENEURSHIP AND SMALL BUSINESS 2 ENTREPRENEURSHIP AND SMALL BUSINESS An entrepreneur refers to a person who undertakes the risk of investment and employs his energy, creativity, and motivation to produce and sell new products and services. His role includes: taking the risk and minimizing it. It is the role of the entrepreneur to make sure that his investment has the lowest risk possible by calculating the risk associated with the investment. Identifying the resource. It is the role of the entrepreneur to identify and choose the best resources that suit the business operation and ensure the efficiency of each resource employed. Evaluation of the performance. It is the role of the entrepreneur to ensure that there is a consistency evaluation of his venture. He should ensure that the financial statements are accurate to get the right information in regards to his financial position (Morrison, 2000). An Intrapreneur refers to a person who has the skills of entrepreneur but employees them in a firm like a manager rather than starting his own. His role includes Ideas identification, presentation an implementation. It is the role of an Intrapreneur in the organization to identify an idea and check if it is compatible with the strategies of the firm and goals set by the organization. Then he presents the idea ...
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