The paper “ Difference between Intrapreneurship and Entrepreneurship to Exporting” is a comprehensive example of the essay on business. The statement is absolutely true why because, entrepreneurship is the process of starting a new venture or an organization, etc. but entrepreneurship is something that belongs to the corporate culture which envisages in the release/production of a new product or so. Let’ s have a look at the following sections. Synthesis of the concept - EntrepreneurshipIn an enterprise, land, labor, and capital are separately owned respectively by landowners, laborers, and financiers. It is the entrepreneur's organizing ability which brings then together in proper proportion & at reasonable rates to work them in production so as to yield the best returns.
As an organizer, he guarantees the specific sum of landowners, laborers, and financiers in return for assignments made to them. Thus the entrepreneurs are subject to a large element of risk. He starts the enterprise, organizes it, supervises it, and engineers long run plans of the enterprise. He is a talented and motivated person who sees and visualizes opportunities for introducing the new production technique and product, a form of organization, the discovery of new markets and a new source of supply of raw materials, etc.
That is how he innovates. Thus innovation, or say, a new combination of factors of production, also involves the element of risk and uncertainty which Schumpeter, however, did not spell out explicitly in his concept of innovative entrepreneurs. (Entrepreneurship and Small Business Management Authors: Michael Schaper & Thierry Volery2nd Revised Edition)In short, the concept of an entrepreneur is intimately associated with three elements - risk-bearing, organizing, and innovating. Factors influencing entrepreneurshipEntrepreneurship can develop only if the infrastructural and other facilities are provided.
Peter Heideman (USA) has identified the following factors as the factors influencing entrepreneurship and aptly called them, incubators". They are the following.
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