Evaluate the role of input factors in the development of entrepreneurship in Zimbabwe from 1980 to present. To what extent were they or are they conducive.
Your discussion should include the following topics, Religion, Culture, Political issues, Education and training, Economic technology issues.
Evaluate the role of input factors in the development of entrepreneurship in Zimbabwe from 1980 to present. To what extent were they or are they conducive. Your discussion should include the following topics, Religion, Culture, Political issues, Education and training, Economic technology issues
The term 'entrepreneurship' can be described in several ways but primarily it is the concept in which somebody uses all his energies to find solution to the problem that can serve him and his society in the best possible way. It can also be described as the process in which you look at things in such a way that nobody has ever imagined when the person provides the solution everybody realizes that it can be done and even followed.
Usually the term is being used in the context of businesses where it describes the zeal of the person with which he surpasses all the hurdles that come in his way to success and create something new with which he can change his world permanently.
"Entrepreneurship is the process by which firms notice opportunities and act (by creatively organizing transactions between factors of production) to create surplus value". (Jones). Entrepreneur is of very high aptitude who pioneers change, possessing characteristics found in only very small fraction of the population. (QuickMBA.com). There are various dimensions under which an entrepreneurship is viewed and assessed. From stressing the importance of brining in innovation and efficiency in the businesses, entrepreneurship is viewed as very efficient and valued addition area of business which can provide extra efficiency and flexibility into the business.
Schumpeter's view of entrepreneurship is based on brining in innovativeness into the business. According to him entrepreneur is one who combines various input factors in an innovative manner to generate value to the customer with the intentions that this value will be greater than the cost so that he earns a profit. (QuickMBA.com). In its simplest form, entrepreneurship can be termed as art of taking risks because with limited resources and small nature of business activities an entrepreneur takes calculated risks to add value to its business by continuously providing value added features and services to its small customer base. All the great businesses of today started as small business units with their entrepreneur having dreams in his eyes and vision beyond the thinkable. That is what makes an entrepreneur different from other managers.
The word Entrepreneur is taken from French word "entreprendre" which means "Undertaker" i.e. The person who undertakes to organize, manage and assume the risks of new enterprise. The Entrepreneur is considered as the aggressive catalyst for change in the world of business. Entrepreneurship means doing things that are not generally done in the ordinary course of business routine. A person who bring resources together in unusual combination to generate profits. In behavioral terms," An achievement oriented individual driven to seek challenges and new accomplishments". The Entrepreneur is an inventor or a developer who: Recognizes opportunities Converts those opportunities into workable/marketable ideas Adds value through time, effort, money or skill Assumes the risks of the competitive marketplace to implement those ideas Realizes the rewards from these efforts The concept of Entrepreneurship is derived from the Economic theory. According to Adam Smith, "Entrepreneur is an economic agent with unusual foresight who could recognize potential demand of goods and services." An economic risk taker. Myths of Entrepreneurs Entrepreneurs are doers, not thinkers Entrepreneurs are born, not made. Entrepreneurs are academic and social misfits. Entrepreneurs must fit the "profile". Entrepreneurs need a lot of money and lots of luck
