Entrepeneur Management.

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*The Internet

The Internet is a business frontier that continues to expand. With Internet commerce, as with any start-up, entrepreneurs need sound business models and practices. During the heady days of the Internet rush, many entrepreneurs and investors thought revenues and profits were unimportant and all that mattered was to attract visitors to their websites (capture eyeballs).

Social Entrepreneurship

Social entrepreneurship has been around for decades, but is surging in popularity and impact and as a focus for academic research. Social entrepreneurship has been defined in many ways, but most fundamentally it refers to leveraging resources to address social problems.

Identify common causes of success and failure

The success or failure lies ahead for entrepreneurs who start their own company as well as for those who start a new business.

Sometimes the failure is high with related business such as restaurants and lower for successful franchise. New companies are relative unknown and need to learn how it works and be better than established competitors at something that customer’s value. These may not get success because you have got to think where your branches will be located, of course it must be a crowded place.

So they also need to know about the risk they are in, starting a new business is risky. Entrepreneurs with plenty of business experience are especially aware of this. Entrepreneurs, most of whom, have gone through for risks and mistakes.

To protect a new small business is necessary the business incubators, this hatches new business and often located in industrial parks or abandoned factories, are protected environments for these business. This will help not to spend much money, such as low rents and shared costs. So, while this grows you can chance your status.

Increasing your chances of success

If you have identified a new business opportunity you need to know where you are or how going to begin. You need more thorough planning and analysis. This effort will help convince other people to get on board and help you avoid risks and mistakes.

The first formal planning step is to do an opportunity analysis, this includes a description of the good or service, a specification of activities and resources needed to translate your idea into a viable business, focuses on the opportunity, not the entire venture.

The business plan describes the venture and its market, strategies and future directions. Although you cannot predict the future, you must have two view points for the future, so you will know how to act in these situations.

Also, crucial to the success of a new business is legitimacy, this helps a firm acquire other resources such as top managers, good employees, financial resources, and government support. A business is legitimate if its goals and methods are consistent with societal values.

Social capital helps entrepreneurs gain access to useful information, gain trust and cooperation from others, recruit employees, from successful business alliances.

Conclusion.

With this evidence, we conclude all about what an entrepreneur is, as the chapter 7 show us, there are a lot of myths about been entrepreneur, but we are awareness that entrepreneurship is not just to take a good decision, it involves a lot of factors as we review in the present document. An entrepreneur has the ability to perform activities in a strategic way, innovating procedures and resources in order to get new ways to do business.

Now that we know who the entrepreneur is, their success and failure, opportunities and threats, among other important aspects, we are prepared to identify an entrepreneur. This evidence helped us to understand in a better way all about entrepreneurs, avoid the myths and know about the importance of them in the business world.

References

Bateman, T. S., & Snell, S. A. (2013). MANAGEMENT: LEADING & COLLABORATING IN A COMPETITIVE WORLD (10th ed.). Manhattan, New York: McGraw-Hill.

Tobak, S. (2015, April 3). The True Meaning of 'Entrepreneur' Retrieved November 4, 2016, from https://www.entrepreneur.com/article/244565