Role of Entrepreneurs in Organizations Essay Example | Topics and Well Written Essays - 2000 words

Role of Entrepreneurs in Organizations - Essay Example An entrepreneur is a person who organizes and mobilizes resources-people, money, skills, ideas and market to create something that did not exist before and which is feasibility profitable.( Academy of engineering, 1978).An entrepreneur according to Drucker(1985) is someone who perceives and exploits opportunities. This implies that an entrepreneurship is a process of creating new and valuable things which includes ideas and converting into a usable product that satisfy a need (Hisrich and Peter, 1985). The increasing importance of entrepreneurship accentuates why small ventures are growing at a faster rate than larger organizations. A similar survey indicates that over the last decade, small ventures created more jobs than the larger which instead, continues to lose jobs (Drucker, 1985). Furthermore, the changes in the business environment such as harsh global as well as the local competition, sudden and unexpected alteration of demand, the rapid acceleration of technological develop ment and increase in risks. Innovation and creativity have become essential for survival, growth and profitability in today’s business world as evidenced in the leadership styles, product and market development strategic moves and innovations and immense creativity. Another feature of that has changed the face of entrepreneurs in an organization is the growing networking. This network can be characterized by increasing market forces, co-operation between firms, collaboration for research and development, subcontracting, outsourcing and strategic alliances that have leapfrogged firm’s profitability and ironed further the roles that entrepreneurship performs in organizations. As no firm can really operate on its own, each depends on the other for survival in the competitive world. Question two There are various types of entrepreneurs. The scope of entrepreneurs is determined by the nature of the business venture, the ‘real’ objective of starting up the busin ess. First, there is a business entrepreneur. This is entrepreneurs who conceptualize of a business idea, start and manage the business. In business arena, they generate noble ideas, exchange goods and services with tailoring all the marketing and brand building to attract and increase the sales volume of their products. They manufacture and innovates new and unique products and services which satisfy the customers’ needs by alleviating the prevailing problems. For instance, Sir Branson of UK serves as an imperative example. Business entrepreneur plans, organize, develop and manages corporate affairs with immense creativity and skill that champion their corporate firms into profitable ventures. For instance, former General Electric long-serving CEO, Jack Welch who stirred the firm into greater heights in performance. Second, there are technology-based entrepreneurs endowed with skill and high technical knowledge in technology. The technical entrepreneur poses high skills in p roduct crafts and focuses mainly on the product design and development so as to supply the market with sophisticated products. The non-technical entrepreneurs focus on the non-technical aspects such as marketing, distributions and pricing strategies to promote the sales of the product while the professional entrepreneurs are the one who creates new technology or an idea and sells to others in form patents and other copyrights. Third, there are motivational based entrepreneurs. First, pure motivational entrepreneur create jobs for other rather than seeking a job for himself. They pose a high desire to create a new venture or an idea that will create jobs and improve the living standards for others. Others in this category include ,induced entrepreneurs who are encouraged by the government to invest in