Entrepreneurship is defined by Wikipedia as the production or creation of value through initiative and action by people working together towards a common goal. With this general definition, entrepreneurship has been viewed as both change and a moral responsibility, and therefore, is seen as moral. The basic idea behind entrepreneurial activity is that people can create wealth for themselves or in the process of improving the conditions of people. People also have an obligation to society to take an active part in it so that a good environment can be created and people’s lives can become easier.
This ethical aspects of entrepreneurship is very important as business is one of the key reasons why people are in poverty and why many people are looking for opportunities to improve their lives. Many entrepreneurs choose to work with people who have different kinds of backgrounds and economic classes. Although some would see this as exploitation, people tend to look at this differently because they see that by working with people who have a variety of backgrounds, a new opportunity is created, and people start to understand that they have a chance to create wealth for themselves as well as for society.
There are many things that a successful entrepreneur should do. First, he must determine what the goals of the business are. Once the goals are determined, the entrepreneur will be able to make his plan and organize his staff, equipment, products, etc. In addition, when creating a business plan, the entrepreneur must be able to communicate his goals clearly and in detail so that everyone understands the goals and objectives of the business.
It is also important for entrepreneurs to have a lot of financial and other resources available to them, especially when they need support from investors. The resources can either come from existing businesses or from other sources. For example, if a business wants to set up a shop in a public place and the owner of such shop is very interested in the idea is popular, he can use it as a way of earning money. Other resources could also be borrowed from friends or relatives.
The entrepreneur also needs to make sure that his idea is legal. In the United States, an entrepreneur has to follow certain laws before he can start an entrepreneur business. He has to comply with all the local rules and regulations, including opening his business, getting all licenses and permits required, and getting a tax id number. Finally, the entrepreneur must also hire a lawyer in case of any legal issues he might encounter.
Entrepreneurship has been considered as one of the most effective ways to provide an economic solution to poverty-stricken communities. These ideas of entrepreneurship are also beneficial to society because it improves the economic status of people and helps them improve their lifestyle. As the World Bank states, “a country’s future growth and development depend on its ability to increase the living standards of its people.”
