entrepreuer

Entrepreneur, one who assumes the responsibility and the risk for a business operation with the expectation of making a profit, the entrepreneur generally decides on the product, acquires the facilities, and brings together the labor force, capital, and production materials. If the business succeeds, the entrepreneur reaps the reward of profits; if it fails, he or she takes the loss. Entrepreneurial leadership is vital to an individual and to a corporation?s success. Entrepreneurial firms are a major source of innovation and change. They create jobs, new tax revenues, and other transfers of money. At a time when U.S. productivity growth is lagging behind other countries, and when our large corporations are laying off workers and focusing on core businesses, entrepreneurial firms assume a more significant role; They do what large companies are not doing The process itself consists of the set of activities necessary to identify an opportunity, develop a business concept, and then manage and harvest the venture. As a process, it has applicability to organizations of all sizes and types. The entrepreneurship construct has three underlying dimensions: innovativeness, or the development of novel or unique products, services or processes; risk-taking, or willingness to pursue opportunities having a reasonable chance of costly failure; and proactive ness, or an emphasis on persistence and creativity in overcoming obstacles until the innovative concept is fully implementedIn 1953 the US government created an independent agency called the Small Business Administration. Its functions are to make loans to small businesses unable to obtain financing from private sources on reasonable terms, to help small firms sell their products and services to the federal government, to make loans to small business concerns affected by natural disasters, to license and regulate privately owned investment companies that make loans to small businesses, to develop ...