Entrepreneurship Essay Example | Topics and Well Written Essays - 250 words - 7

Entrepreneurship - Essay representativeTherefore, for an entrepreneur to keep abreast in combining designs to revolutionize the patterns of production, he has to carry out spic-and-span-sprung(prenominal) combinations in productions, through a process that requires a work force. In addition, entrepreneurs require professional management skills, since their obsession becomes a indebtedness in managing the growth of a tune.2. On the other hand, feasibility psychoanalysis before venturing in a business is necessary, since the analysis enables an entrepreneur to understand the business process and identify the factors that will facilitate achiever s of the business venture. Therefore, venturing in to a business without conducting a feasibility test can track to an over estimation or underestimation of factors that will facilitate the continuation of the business. For example, an entrepreneur may contribute an idea of run lowing a business, which requires acquisition of a certai n machine for production. If the entrepreneur fails to conduct a technical feasibility analysis, a technical problem on the machine can cause a downfall of the business. Therefore, if the entrepreneur had decided to conduct a technical feasibility analysis, he would have had the line up of identifying availability of technical expertise to correct the problem if it occurs, hence sustaining productivity in the Entrepreneurship Essay Example Topics and Well Written Essays - 2500 words - 2Entrepreneurship - Essay Exampleon creating positive outcome for new products and services as well as in the operational processes of that particular business or runner up that engages in it. The managerial processes, the market segment and the organizational structure of the business may also experience the positive impact of innovation when it is clearly and properly implemented and integrated into the business.Different businesses and inaugural companies engage in innovation for different reas ons. The ultimate goal of innovation is to improve the businesses (Lee et al., 2000). The changes that are associated with innovation are intended to improve the efficiency, profitability and the viability of that particular business. There are several aspects of a business that are known to benefit from innovation both in an existing businesses or a new entrepreneurial start up. Some of these aspects and areas include finance, research and development, sales, human resources and marketing. Acs and Szerb (2009) state that innovation does not motif to be new or revolutionary for it to be of benefit to the business or entrepreneurial start up. The aim of this paper is to explore the usage that is played by innovation in entrepreneurial startups and in the growth of businesses. This is done through a reviewed of existing literature in peer reviewed journals.In separate to unravel and explore the role of innovation in entrepreneurial startups and in the growth of businesses, this pap er relies on secondary data that exist in journals. To explore and understand how innovation impacts on entrepreneurial startups and the role that it plays in the growth of existing businesses, the paper will use peer reviewed journals. The journals that will be use in this paper are those that deal with innovation, entrepreneurship and growth of businesses. In selecting the journals to be used in the paper, an analysis of various journals that deal with the topic was done. After this, the journals that contain data and information