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  • Essay / Entrepreneurship Essay - 884

    It is a creative response to the environment. An entrepreneur recognizes the need for change and initiates it3. Dynamic process entrepreneurs thrive in a changing environment that brings new opportunities to businesses. Flexibility is the mark of a successful entrepreneur.4. Element of RiskEntrepreneurs make decisions in the face of uncertainty. Risk is therefore an inherent and inseparable element of entrepreneurship. A business is started for profit, but there is every possibility of loss. “Entrepreneurship requires vision, wisdom and the ability to take risks. » Vision is the ability to spot an opportunity and imagine something where others have not. Entrepreneurs have a curiosity that identifies overlooked niches and places them at the forefront of innovation and emerging areas. They imagine another world and have the ability to effectively communicate that vision to investors, clients and staff. Many people would settle for a few successful businesses, but Eldad Matityahu saw beyond his two thriving frozen yogurt shops. He had read about the fiber optic industry and decided he wanted to get into the tech industry surrounding him in Silicon Valley. So he sold his yogurt shops and his Harley and went into a field he knew nothing about. He took a job at a fiber optic company to learn the trade and discovered his niche.