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Entrepreneurship

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Communications

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Vafvqre47

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Surname 1

Name

Professor

Course

Date

Entrepreneurship

1) Having entrepreneurial skills entails the ability to acquire and assess business

opportunities, start actions of fostering success, gathering pertinent resources, and

implementing strategies of seizing opportunities in realization of a useful outcome.

An entrepreneur is an individual vested with personal financial risk in engaging in a

business activity. Additionally, an entrepreneur is a person who takes advantage of an

opportunity in response to a pre-searched change.

2) The entrepreneurs are individuals with the capability of identifying and grabbing a

business opportunities after its evaluation, collects the needed resources, and

eventually initiates an action plan towards success. Nonetheless, an entrepreneur still

hones the accountability to any arising risks. Further, an entrepreneur is mandated

with the responsibility of organizing, managing a business, and taking any potential

risk for profit making

3) Mentorship is essential in enlightening the entrepreneurs and act as foundation in

rolling out their business growth path. Successful mentorship ensure that mentors

challenges MEs to high capabilities and potentials, guide entrepreneurs to restructure

their business directions, contribute towards value addition, enhancing confidence

building, stimulate strategic thinking, listening to the concerns of entrepreneurs, and

prepare them for their greater leadership responsibility

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Surname 2

4) The essentials of an effective entrepreneur are creativity, courage, being proactive,

self-reliance, responsibility, determination, and the strategically choosing the location

of the business. Normally, the entrepreneurs tend to choose strategic business

locations aligned to the personal attribute and necessities of success. Moreover,

entrepreneurs utilize strong and specific attributes in managing their business.

5) Interestingly, being risk loving is common to some people as opposed to others.

The risk loving individuals are likely to spur the growth of a start up. The motivation

to assume more risks is based on the motivation of succeeding. However, the

achievement of set goals in regard to successful people is the assumption of

reasonable risks based on the level of success achieved. The inner drive is mostly the

managing factor for entrepreneurs with the feeling that the fate of their business

pursuits is anchored on their own efforts. Such entrepreneurs are autonomous,

independent thinkers, who rely on their abilities. More importantly, the psychological

studies have a special characteristic of business individuals in terms of their capability

to make informed decisions even under trying moments marred with uncertainties.

Surprisingly, success is a superior stimulating factor for entrepreneurs than money,

with money acting as a standard of measuring achievement and success of

entrepreneurs.

6) Honesty – it is one of the requisite for any effective entrepreneur. However,

honesty should not be viewed objectively as a surety to successful entrepreneurship.

Interestingly, there are powerful empires which were not anchored on honesty as a

necessity for entrepreneurs. Hence, honesty is not a do- or- die demand for any

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Surname 1 Name Professor Course Date Entrepreneurship 1) Having entrepreneurial skills entails the ability to acquire and assess business opportunities, start actions of fostering success, gathering pertinent resources, and implementing strategies of seizing opportunities in realization of a useful outcome. An entrepreneur is an individual vested with personal financial risk in engaging in a business activity. Additionally, an entrepreneur is a person who takes advantage of an opportunity in response to a pre-searched change. 2) The entrepreneurs are individuals with the capability of identifying and grabbing a business opportunities after its evaluation, collects the needed resources, and eventually initiates an action plan towards success. Nonetheless, an entrepreneur still hones the accountability to any arising risks. Further, an entrepreneur is mandated with the responsibility of or ...
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