Through exceptional focus, entrepreneurs are able to transform concepts into companies, yet it takes effort on their part to relinquish control to professional managements.
Cons of being an Entrepreneur
The greatest draw-back of being an entrepreneur are the personal and professional risks to financial stability and reputation if the new venture does not succeed, and the lost time invested in the venture if it fails. These are all lost opportunity costs that an entrepreneur could have invested in other, potentially more profitable and successful ventures. Even successful entrepreneurs struggle with staying focused despite the intense pressure to succeed and long hours needed to get a business into a financially viable condition to run smoothly. There are more sacrifices required of entrepreneurs today than ever before as globalization is forcing many of them to travel across multiple continents every given month to get their companies up and running. These trips include supplier qualification visits to verify that a key supplier can provide the necessary raw materials and components necessary to grow the business. There are also customer visits that must be done in person in the early days of any new business so that trust is established and maintained. Underlying all these factors is the role of the entrepreneur being the most responsible member of any management team when it comes to the success or failure of any...
Burns (2007) indicates that the text is about that which motivates the actions and decisions of the entrepreneur, including the influence of personal social networks, family and personal background. Moreover, the text reports itself to be about the tasks of management which are associated with the entrepreneurial approach as well as how decisions are make, how risk is balanced and most essentially how there is a clear distinction between
Entrepreneurs in Nigeria The Role of Entrepreneurs in Nigeria's Past and Continuing Development The Role of Entrepreneurs in Nigeria's Past and Continuing Development Entrepreneurship has long been regarded as a practice in which an owner or manager of a business enterprise makes money through taking risks and further taking initiative (Deakins and Freel, 2009, p.4). Traditionally, entrepreneurs have been seen as individuals who are willing to launch a new venture or enterprise and
Role of Business in the Economy Business and economic development go hand in hand. In fact, small and large businesses constitute a good part of the economic growth and development of any country. This importance is reflected in the numerous favorable laws and tax breaks that governments all over the world provide for businesses to ensure that they grow. There are multiple advantages of having sound businesses for any economy. Firstly, it
This also implies inadequacies in fiscal sustainability, which influences investments in private sectors. The second channel happens through the level, composition and quality involved within the public investment, which shows the level at which the public investment replaces the private investments (Schmidt- Hebbel, Serven, & Solimano, 1996). The final channel regards the level of taxation on the corporate earnings and the rules applicable in depreciations. There have been arguments that fiscal policy
All these dimensions conclude on one problem which a CMHC could interpret the best through his experience, intelligence and practice. LOCAL, STATE, and NATIONAL PUBLIC POLICIES POTENTIALLY AFFECT the QUALITY and ACCESSIBILITY of CLINICAL MENTAL HEALTH SERVICES. Mental Health parity is considered as an evolution in an American Politics. States took over federal policies and fought hard to implement mental health insurance along with general health insurance. (Harris, 2006) Parity Law
Furthermore, during the same period there was an increase in the number of women-owned businesses in the 1-9 and 10-49 employment size categories. The idea that women do not make good entrepreneurs is countered by various facts, such as: "Research by Barclays Bank has revealed there are today nearly a third more women entrepreneurs than there were in 2000,...there are now 150,000 women-run enterprises across the UK, with the south
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