BUSS 3108 Reflection Assignment Help

EXECUTIVE SUMMARY

This assignment comprises of the knowledge regarding entrepreneurship and innovation and insights of four key types of entrepreneurships and the linkages among them. The assignments also entail my learning experience during the course of Organizational entrepreneurship.

WHAT ENTREPRENEURSHIP MEANS TO ME 

Entrepreneurship is a major driver of the world's economy. This contributes to job and wealth creation. It works in a larger context, continuously looking in a creative and better ways to do new things. Entrepreneurship is the process of finding new ways to combine available resources with the given capital. The entrepreneur makes a profit when the market value generated by the combination of these new resources is higher in comparison with the market value that this combination would produce either individually or in any other set of combination.  

Broadly speaking, economic growth and development of any country comes out of entrepreneurial activity, therefore, innovation and entrepreneurship have become government priorities in recent times which results in a number of initiatives that boost the new upcoming ventures and small businesses. Entrepreneurship has been discussed in different ways by different authors throughout its history. Entrepreneurship is an important element of any country's economy.  The initiative of individuals who develop and undertake ideas contributes to the structure, growth and consolidation of the economy, creating wealth and generating jobs.  

An entrepreneurial perspective is also a wonderful way of thinking to tackle new opportunities in government, social ventures, and life. Entrepreneurship alone does not add a new piece to the puzzle. This is the innovation that added value to the invention and this might be incremental, substantial and radical in nature. Innovation and entrepreneurship go hand in hand and it's a never-ending process as this process involves finding creative high-potential commercial opportunities, collecting resources such as talent and capital, and managing rapid growth and significant risks using proper decision-making skills.