entrepreneurship and Leadership

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MODULE NAME: ENTREPRENEURSHIP AND SMALL BUSINESS DEVELOPMENT



INTRODUCTION

Successful enterprises have its essential elements by which entrepreneurs rely on to operate business. These critical elements include organizational structure, corporate performance management, organizational culture, leadership style, and entrepreneurship. As one important factor for successful enterprises, entrepreneurship sometimes were considered as the most significant for an enterprise to survive in economic crisis and then get strong in severe competition in industries. Every company has its own long term goal and existing culture. During the long period an entrepreneur striving for a designate target, enterprise spirit or culture will be formed. And entrepreneurship was originated from such type of spirit and culture. Also, entrepreneurship contains several characteristics, which are held differently by various theorists. What frequently considered as important element of entrepreneurship includes spirit of venture, collaboration awareness, hardworking, learning, persistence, honesty, sense of dedication, and innovation. This essay will concentrate on innovation, from the example of Apples founder, Steve Jobs. Firstly, it will start with a literature review, which includes several theorists' views on innovation and entrepreneurship. Various materials related to Steve Jobs will be referred to. Then, the second part will focus on analysis of Steve Jobs' in order to demonstrate how innovation spirit matters to entrepreneurship. It will contrast the life of the entrepreneur against the views discussed in the review of the literature.

LITERATURE REVIEW

Entrepreneurship, which was considered as what a successful entrepreneur should own, has various characteristics, including spirit of venture, collaboration, commitment to work, learning, persistence, honesty, sense of dedication, and innovation. Economists Richard Cantillion and Frank Rnight (1984) asserted that entrepreneurship highly related to risk and uncertainty (Fleming & Ramdas, 2009). No entrepreneurs can accomplish success without taking risks in their mind. They held that huge benefit came from right choice among uncertain circumstances. Well-known enterprises, such as HP, Sony and Acer, are the type of organizations firstly entering some industries. Aibort Hershiman argued that significant decisions were made by team rather than an individual. Although from surface great entrepreneur always conducted a one-man show, a real one actually excelled at collaboration (Anokhin & Schulze, 2009). An entrepreneur cannot be a superman. But they can be a Spiderman, who are good at spinning web. Another group of theorists held that commitment to work was the only origin for entrepreneurship (Fang, 2008). Entrepreneurs are those live for career, rather work for living. Commitment to career can be lasting drive for success of great entrepreneur. Peter Sendge (2002) had the opinion that learning was critical for entrepreneur to become strong. From systematic thinking, learning should be the principle for both entrepreneurs and their employees in organizations (Fang, 2005). Intel CEO (2003) Grofu had an famous saying "only paranoea can survive" (Elizabeth, O'Loughlin & Elspeth, 2005). In economic crisis, investors can run away from enterprises; workers can run away from enterprises; but entrepreneurs should still be there to hold the enterprises. Nokia set a good example to demonstrate the spirit: in 1990s, when economic crisis hit Finland, Nokia also suffer loss of 50 percent of its market value. Nonetheless, the company stood still and took various approaches to get through the hard time. Now it has taken 35% of mobile phone market presence. It was persistence helping the company survive. Economy Nobel Prize winner Fuleeman pointed "entrepreneur has only one obligation that is doing business in fair way, avoiding cheating and fraud" (McDnaiel, 2000).

Besides the above views, Peter...
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