Entrepreneural process
Entrepreneurial Process
HCS/567
September 16, 2013
Peter Albright
Entrepreneurial Process
Entrepreneurs are inclined to pursue a four-step method to realize their goals. The four steps include identifying opportunities, developing a plan, determining the resources needed, and lastly managing the newly developed enterprise (Hirsh, Peters, & Sheppard, 2005). A well-defined grasp of the risk-taking progression is very significant in knowing the steps of a company officer or measuring if private enterprise is the way to go for them. The order of the entrepreneurial process is important for proper fulfillment and to improve the odds of success (Barringer & Ireland, 2008). Some parts of these steps are important for the individual’s viewpoint, where other parts are important from corporate viewpoints. Finally, the entrepreneurial process has inspired the delivery of health care by shaping the scope of innovation, and the pace of delivery. There are many reasons that can inspire somebody to be an entrepreneur which could include his environment, social factors, personal, or it could be a mixture. Once a person decides to take on entrepreneurship there are four steps that he should follow. These four steps for an entrepreneur to follow are to mark and measure the prospect, make a strategy, establishing sources desired, and running the business that was created. The first thing to do is to spot and assess the opportunity that identifies and analyzes the possibilities in terms of the wants of the market, contenders, and marketplace possibiity, and the products lifespan. It is vital for a businessperson to assess his plan with possible clients. Asking customers if they would buy the creation or service and doing investigating to see what the marketplace scope is, is very important. Also discovering if the market is growing, if it is stable or deteriorating, and getting information on competitor’s strengths and weaknesses is critical and if there
HCS/567
September 16, 2013
Peter Albright
Entrepreneurial Process
Entrepreneurs are inclined to pursue a four-step method to realize their goals. The four steps include identifying opportunities, developing a plan, determining the resources needed, and lastly managing the newly developed enterprise (Hirsh, Peters, & Sheppard, 2005). A well-defined grasp of the risk-taking progression is very significant in knowing the steps of a company officer or measuring if private enterprise is the way to go for them. The order of the entrepreneurial process is important for proper fulfillment and to improve the odds of success (Barringer & Ireland, 2008). Some parts of these steps are important for the individual’s viewpoint, where other parts are important from corporate viewpoints. Finally, the entrepreneurial process has inspired the delivery of health care by shaping the scope of innovation, and the pace of delivery. There are many reasons that can inspire somebody to be an entrepreneur which could include his environment, social factors, personal, or it could be a mixture. Once a person decides to take on entrepreneurship there are four steps that he should follow. These four steps for an entrepreneur to follow are to mark and measure the prospect, make a strategy, establishing sources desired, and running the business that was created. The first thing to do is to spot and assess the opportunity that identifies and analyzes the possibilities in terms of the wants of the market, contenders, and marketplace possibiity, and the products lifespan. It is vital for a businessperson to assess his plan with possible clients. Asking customers if they would buy the creation or service and doing investigating to see what the marketplace scope is, is very important. Also discovering if the market is growing, if it is stable or deteriorating, and getting information on competitor’s strengths and weaknesses is critical and if there
References: Barringer,B., & Ireland, D. (2010). Entrepreneurship:Successfully launching new ventures. (3rd ed.).Prentice Hall Hirsh, Peters, & Sheppard (2005).Step-by-Step Process to Entrepreneurism - Yahoo Voices - voices .. www.city-journal.org/2008/18_3_health_care_innovators.html KULEUVEN(2010) www.econ.kuleuven.be › ... › Startupguru (2011) www.startupguru.com/blog/?p=3 Wilson, Whitaker, Whitford (2012).Rising to the Challenge of Health Care Reform with Entrepreneurial...