Management Position Paper

Running head: ENTREPRENEURSHIP 1

Entrepreneurship

University

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ENTREPRENEURSHIP 2

With the world changing, people develop new business ideas every day. There is a need to

shape, look at different aspects before introducing a new business. However, an entrepreneur has

a lot in place to carefully evaluate before deciding on what to launch in the market. Decision

making on how the company is to operate is very vital and requires self-dependence and

confidence. A successful entrepreneur has to apply different management aspects to keep the

business going. They include the following.

Organizational behavior and entrepreneurship. After developing an idea, there is need to set the

business and keep it going. A workplace is very vital as it facilitates activities concerning the

company. Making sure that employees work together is one of the most significant requirement.

An entrepreneur has a role in creating a good relationship with employees through making them

believe in him or her. Leadership is very vital at this stage since it's an entrepreneur's role to

ensure that the traits of employees complement with what the business wants. Further, an

entrepreneur has to listen and help employees in solving problems that may arise in the

organization. Embracing organizational behaviors help to shape employees personal traits,

encourages teamwork, understanding and providing better ways of solving problems.

Entrepreneurs have to make use of this aspect as it helps to increase their skills on how to run

their businesses successfully.

Business and society. Regarding the business location, entrepreneurs have to be sensitive to how

their companies to impact the surrounding. Taking time to understand what the people need

helps entrepreneurs to decide on what to venture in. New ideas are likely to develop after an

entrepreneur researches what is in demand before starting a business. With the need for

employees, entrepreneurship offers job opportunities to the people. Different ranks in the

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company require people to run them. In return, employees get paid by the company helping them

to improve their standards of living such as providing the ability to afford basic needs. Society

helps to guide new entrepreneurs on how and what goods and services are required thus taking

part in visualizing their businesses. Businesses enhance the development of people in their

different fields. With the creation of companies, people can develop new ideas such as improving

good and service thus creating competition. There are also new ideas that originate from what is

already in the market. A business can be the source of new one especially complementing goods

and products to it hence providing a variety of goods and services to the society. Economic

development of the people as a result of entrepreneurship is also enhanced. This is due to taxes

that business pay, they are in turn used to develop and maintain social amenities like

infrastructure. Establishment of many businesses boosts the society through other services that

are important to them. The people around the location also use roads that enable running of a

business and also empowers connection of people in their daily lives.

Technology and entrepreneurship. As the owner of a business, there is a need to look at the

technology available and how it helps to improve it. The world is changing. Thus entrepreneurs

have to for the better running of businesses. Managing a business requires efficient

communication from one rank to another. Technology is very vital within and out of the

business. Employees need a constant sharing of information, interacting with clients like know

improvement required concerning good and services. An urge to expand the business is achieved

through technology that helps it to reach new markets. An entrepreneur needs to advertise

products and services provided; another reason technology is vital. Different platforms enable a

business to launch new, remind and improve customers on what is presented to them. Advanced

technology reaches many people helping to increase the market. The Internet is an ideal platform

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for advertising through business websites and social media. Identifying different issues

concerning goods and services is achievable through technology. Technology enables online

research through the collection of data. Survey through interacting with customers to know their

views on the proposed business empowers an entrepreneur to understand and formulate ways of

reaching a large market. Technology plays a significant role in other business activities like

online delivery making it easier for customers to access goods and services. An entrepreneur has

to embrace technology and be ready for the changes that occur over and over again. Use of

technology has taken a lot of responsibility to improve the way businesses are operated.

Entrepreneurship is all about researching, developing new ideas, evaluating the benefits before

choosing to launch it. An entrepreneur has to make decisions and take risks when growing a

business. Since entrepreneurs have a responsibility of running their businesses, they have to

embrace different management aspects and how they complement each other for the wellbeing of

a company. Successful entrepreneurship largely depends on management.

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References

Mull, D. (2014). Organizational Behaviour - How learning it will help entrepreneurs? Retrieved from

https://www.slideshare.net/DhananjayMull/organizational-behaviour-how-learning-it-will-help-

entrepreneurs

Olufisayo. (2010). Role and Importance of Business Entrepreneurship in Society. Retrieved from

http://www.entrepreneurshipsecret.com/the-role-of-business-entrepreneurship-in-society/

Singh, A. (2015). The Importance of Technology in Entrepreneurship. Retrieved from

http://www.epicentreuwindsor.ca/the-importance-of-technology-in-entrepreneurship/

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Management position paper

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