Implementing strategy and entrepreneurship.

Section 1

Entrepreneurship according to Webster 's lexicon is defined as One who undertakes to start and conduct an enterprise or business , usually assuming full control and risk . Oxford lexicon defines entrepreneurship as person who organizes a commercial undertaking esp .involving risk

Entrepreneur is a term that is associated completely with business related activities especially those who wished to make an entry into business with the launch of innovative products . A general understanding about entrepreneurship is these persons are skilled knowledgeable and who possess certain achievable goals and aims with

br practical implications and targets that are specific and time limited There are many successful entrepreneurs who are globally acclaimed as billionaires and millionaires viz , Microsoft pioneer Bill Gates , Harp Studios owner Oprah Winfrey , Wendy restaurants owner Dave Thomas and many others . All of the above cited entrepreneurs had started business at a tender age of 15 years and constantly pursued towards achievement of goals and after tapping success in business , never looked back whereas world was brought to the door step of these entrepreneurs who had vision , goal and an achievable dream in business

Entrepreneurship in a way can be explained as , it is a one man 's dream or show , who is put to a greater risk if not successful in business as an entrepreneur . There is required to be extreme care , monitoring control and exceedingly efficient skills , knowledge and above all management skills to motivate people in to win in business Business honchos are not born , whereas businessmen are made with excessive hard work , dedication , devotion and determination . It is also important to understand here that reward is the gift for taking risk in business in the position of entrepreneur which is why emerging entrepreneurs must be encouraged to take minimum risk in to work out the results in business

There are excellent management and business whose books provide practical guidance in entrepreneurship business . viz , Richard Daft - The new era of management , Hennery Mintzberg - strategy safari and Peter F Drucker - Entrepreneurship and innovation

The above books contain conceptual essays , examples , exercises and applications for easy follow-up . Especially managerial thinking development of innovative ideas and application of technology in implementation of business ideas . Books such as these are an excellent source for entrepreneurs to be successful in business . A special emphasis laid in entrepreneurship is because of the fact that it is a business that floated by a single hand which is why , an entrepreneur is expected to possess good and well preserving knowledge in counter-attack any unforeseen risks in entrepreneurial business According to Daniel F . Spulber (2008 , globalization has encouraged vast amount of entrepreneurial businesses and in fact SBA has been funding for young and skilled graduates in management to start off small businesses with the fact that small businesses are certainly to grow big with excellent entrepreneurship and that is the requirement for the growth of a nation 's economy . No business starts off with a vast capital unless it is industrially production...