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Idea Market Description

In: Business and Management

Submitted By sugbah
Words 2137
Pages 9
IDEA AND MARKET DESCRIPTION
Steve Ugbah
Prepared for:
School of Business & Technology

Introduction
Entrepreneurship has significantly contributed to society’s climb from underdevelopment to affluence. This has been accomplished through the introduction of new products and technologies to better satisfy consumer wants and raise productivity. An entrepreneur, therefore, is a person who organizes and manages a business, assuming the risk for the sake of potential return (Mariotti & Glackin, 2012). The entrepreneur is an innovator who brings about change through the introduction of new technological processes or products, and thus, through innovation, the entrepreneur is a “deliberate wrecker of equilibrium.” Successful entrepreneurship is associated with a high degree of practical intelligence, creative abilities, and business talent, characteristics which Shavinina (2006) refers to as “entrepreneurial giftedness” (p. 225)--talented individuals who exceptionally succeeded in business by creating new ventures.
According to Darling, Gabrielsson, and Seristo (2007), entrepreneurial management leadership is all about “breaking new ground, going beyond the known, and helping to create the future.” Also, entrepreneurial management leadership is about helping people settle into new opportunities that give them joy and hope for the future. The keys to entrepreneurial success are not intelligence, education, lifestyle or background. Rather, entrepreneurial success is determined, in most part, by the entrepreneur’s “ability to effectively deal with opportunities through the dynamics of an organizational setting, thereby enabling the people concerned to be actively and enthusiastically involved and successful” (Darling, et al., 2007). Therefore, successful entrepreneurs are those who strive to establish a conducive environment that is supportive of associates and…...

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