 Understanding the Importance of Entrepreneurialism

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In this assignment I am briefly described about the below mentioned topics: Understanding the importance of entrepreneurialism, How to audit the demographic and Epidemiological social environment. Understand the impact of the cultural and political environment finally understand the factors critical to effective change management.

Understanding the importance of Entrepreneurialism

The role of entrepreneurialism and an entrepreneurial culture in economic and social development has often been under estimated. Over the years, however, it has become increasingly apparent that entrepreneurship does indeed contribute to economic development. Transforming ideas into economic opportunities is the crux of entrepreneurship. History shows that economic progress has been significantly advanced by pragmatic people who are entrepreneurial and innovative, able to exploit opportunities and willing to take risks. The learner must give a clear analysis of the concept of entrepreneurialism and show models based on open systems approach that can provide insight in to planning environment. Consider resources needed to plan and manage proactively and evaluate the effectiveness on your own approach to managing and start planning process to enhance your capability as an effective manager of planned change. Entrepreneurs produce solutions that fly in the face of established knowledge, and they always challenge the status quo. They are risk-takers who pursue opportunities that others may fail to recognize or may even view as problems or threats. Whatever the definition of entrepreneurship, it is closely associated with change, creativity, knowledge, innovation and flexibility-factors that are increasingly important sources of competitiveness in an increasingly globalized world economy. Thus, fostering entrepreneurship means promoting the competitiveness of businesses. Entrepreneurship and enterprise development

Private sector development and entrepreneurship development are essential ingredients for achieving the Millennium Development Goal of reducing poverty. While sound macroeconomic policies and providing market access are crucial, emerging markets need to nurture and develop entrepreneurs able to take advantage of opportunities created by globalization. For many developing countries, private sector development has been a powerful engine of economic growth and wealth creation, and crucial for improving the quality, number and variety of employment opportunities for the poor. Economically, entrepreneurship invigorates markets. The formation of new business leads to job creation and has a multiplying effect on the economy. Socially, entrepreneurship empowers citizens, generates innovation and changes mindsets. These changes have the potential to integrate developing countries into the global economy.

Know how to audit the Demographic, Epidemiological and social environment.

Critically access the three elements of the environment which impinge upon the work of the enterprise and the national and local sources of demographic and epidemiological data. Learner should critically examine the demographic trends and the key aspects of the social environment.

Social audit
A social audit is the process through which all details of a public scheme are scrutinized by its beneficiaries. A social audit seeks to evaluate how well public resources are being used to meet the real needs of target Beneficiaries.

Social Epidemiology
Social epidemiology is a branch of epidemiology that focuses particularly on the effects of social-structural factors on states of health. Social epidemiology assumes that the distribution of advantages and disadvantages in a society reflects the distribution of...