The paper "The Effects of Entrepreneur Failure on Business Opportunity" is a perfect example of a business research proposal. The aim of the study is to determine the effects of the entrepreneur’ s failure on a business opportunity. The aim of the study was based on the information gap identified after analyzing the main entrepreneurial theories. The specific research objectives of the study are: To determine the factors that influence the decision of an entrepreneur to start a business; to evaluate the link between entrepreneurship and business opportunity, and to analyse the impacts caused by the failure of an entrepreneur in taking the initiative of starting a business.
The study will use the descriptive research design in which both qualitative and quantitative methods of data collection will be used. The participants in the study will be about 50 entrepreneurs and the data will be analysed using the Statistical Package for the Social Sciences software and content analysis. The data will be presented in graphs, tables, and pie charts and the ethical considerations will be adhered to. The study will take a duration of 3 years in total. 1.0 INTRODUCTION 1.1 Area of Research According to KritiKoS (2014), entrepreneurs are critically important in any economy, more so those who create new firms.
Even in the economies that are driven by innovation, only 1-2 percent of a workforce starts a business per annum. Innovative entrepreneurs are critical in the competitiveness of an economy and can create new jobs. However, the benefits of entrepreneurship can only be realised in a business environment that encourages innovation. It is based on these facts that the study seeks to determine if there is a link between the activities of the entrepreneurs and the business opportunities.
In other words, it seeks to determine if the failure on part of the businessmen will affect the business opportunities in a given area or environment. Definition of entrepreneur and business opportunity is critical for the study. An entrepreneur can be defined as someone runs a business, as opposed to being an employee, thus assumes all the rewards and risks associated with the business. He is the innovator of the business process and the new ideas and plays the role of the business leader.
The entrepreneur combines capital, land, and labour so as to provide services and goods to the relevant community. On the other hand, the business opportunity is the lease or sale of any equipment, service, and product that allows one to make a profit. It can also be defined as an opportunity that has the capacity to generate income to the entrepreneur despite not being an employment opportunity. 1.2 Literature Review An entrepreneur is a person who puts up a business with the intention of making a profit despite the risk associated with it.
However, the definition fails to capture the entrepreneurship as a phenomenon (Pezzey & Toman, 2002). As a result, it is important to analyse the theories that exist to understand the phenomena of entrepreneurship. 1.2.1 Entrepreneurial Failures According to Jenkins and McKelvie (2016), there has been increasing studies on entrepreneurial failure even though the failure is not conceptualized. In agreement, Atsan (2016) argues that entrepreneurship can be learnt in three ways: interpersonal relationships, opportunities exploitations, and opportunities recognition. Cope (2011) also argue that the learning process is what can make an entrepreneur re-emerge and recover after failure.
Entrepreneurs should, therefore, be prepared for future entrepreneurial activities.
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