Volume 15, Issue 2, June 2015, Pages 364–366
Lawrence Lowell1
1 Partner Academician - Online/Distance Learning, UNEM & IMA; Adjunt Professor, AZTECA University European programmes; Part-time Lecturer, Valley View University-Kumasi, Ghana; Course Facilitator/Examiner-Cambridge International College, UK. Management/Educational Consultant, Self-employed Kumasi, Ghana
Original language: English
Copyright © 2015 ISSR Journals. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Entrepreneurs are often confused with business owners. Entrepreneurs create new businesses through new ideas and create new business models. Entrepreneurs are innovators of the market. The theories behind finding the crucial element in entrepreneurship have been discussed, and we can say that the Misesian school of thought that postulates that the entrepreneur is defined by taking a risk and overcoming such risk. An entrepreneurial opportunity has to undergo the motivation assessment and the knowledge assessment to understand economic, personal and knowledge objectives can be met through the venture. Entrepreneurs make decisions based on incomplete information and. Therefore, there is a possibility of risk involved in all such decisions. The knowledge of the entrepreneur and heuristics developed through experience help the entrepreneur. While entrepreneurs are core domain experts, they have to be good managers to develop an organisation. Therefore, it is suggested that entrepreneurs adopt modern manpower approaches to engaging with employees and to ensure that the employees are trained and motivated to perform better.
Author Keywords: Entrepreneur, Entrepreneurship, Enterprise, Venture, Knowledge.
Lawrence Lowell1
1 Partner Academician - Online/Distance Learning, UNEM & IMA; Adjunt Professor, AZTECA University European programmes; Part-time Lecturer, Valley View University-Kumasi, Ghana; Course Facilitator/Examiner-Cambridge International College, UK. Management/Educational Consultant, Self-employed Kumasi, Ghana
Original language: English
Copyright © 2015 ISSR Journals. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Abstract
Entrepreneurs are often confused with business owners. Entrepreneurs create new businesses through new ideas and create new business models. Entrepreneurs are innovators of the market. The theories behind finding the crucial element in entrepreneurship have been discussed, and we can say that the Misesian school of thought that postulates that the entrepreneur is defined by taking a risk and overcoming such risk. An entrepreneurial opportunity has to undergo the motivation assessment and the knowledge assessment to understand economic, personal and knowledge objectives can be met through the venture. Entrepreneurs make decisions based on incomplete information and. Therefore, there is a possibility of risk involved in all such decisions. The knowledge of the entrepreneur and heuristics developed through experience help the entrepreneur. While entrepreneurs are core domain experts, they have to be good managers to develop an organisation. Therefore, it is suggested that entrepreneurs adopt modern manpower approaches to engaging with employees and to ensure that the employees are trained and motivated to perform better.
Author Keywords: Entrepreneur, Entrepreneurship, Enterprise, Venture, Knowledge.
How to Cite this Article
Lawrence Lowell, “Entrepreneurship; Business Innovation and Enterprise Development,” International Journal of Innovation and Scientific Research, vol. 15, no. 2, pp. 364–366, June 2015.
