What Factors Affecting The World Of Entrepreneurs And The...

Discuss what factors a modern economy must put in place to encourage entrepreneurial activity with appropriate reference to relevant academic theory and practical examples. There are many factors in the modern economy which encourage entrepreneurial activity. Throughout this essay i am going to discuss what these factors are and how they influence the life world of entrepreneurs and the environment surrounding them. I am also going to use different theories and concepts to critically evaluate how they affect entrepreneurial practice in an organisational context. Typically entrepreneurs engaged in businesses have a better mentality when compared to traditional employees. This is because entrepreneurs usually want to have a strong foothold within a business, and desire a role with a higher authority in the company as they distain working as an employee. This is part of the life world of an entrepreneur as all entrepreneurs share the same mentality, When they are creating or forming a business they are more willing to take higher calculated risks within their business for the chance of a higher profit according to Chell Ozkan, (2010). For example when James Dyson started up his company with his new product â€Å"The G-force cleaner† in 1983, He was unable to find a manufacturer or a distributor for the product. Due to this he took the risk in an unstable market and set up his own manufacturing company â€Å"Dyson Ltd† luckily for Dyson his risk paid off and he made aShow MoreRelatedWhat Are the Issues Affecting Walmart in Its Ext ernal Environmental?1515 Words   |  7 PagesWalmart Now that Wal-Mart has conquered the US, can it conquer the world? AsWal-Mart Worldshows, the corporation is certainly trying. For a number of years, Wal-Mart has been the largest company in the United States. Now, though, it is the largest company in the world. 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Moore Article information: To cite this document: Dorothy Perrin Moore, Jamie L. Moore, Jamie W. Moore, (2011),How women entrepreneurs lead and why they manage that way, Gender in Management: An International Journal, Vol. 26 Iss: 3 pp. 220 - 233 Permanent link to this document: http://dx.doi.org/10.1108/17542411111130981 Downloaded