Cyber Prenuership ..

What is the value of entrepreneur in the society?

Entrepreneur is the person who takes responsibilities of organizing and managing the business. Who is the person who is responsible for all the risks and liabilities of the business? It is for sure that the entrepreneur. Most important role of entrepreneur is that she brings factors of production together. Land, labour capital will be combined and make in to a business venture.

The reason for teaching new concepts to be a entrepreneur is vital. Since government or private companies can not give jobs to everyone. That is out responsibility to move forward with own business venture and with a successful business we can even offer jobs to friends or others. This sounds really good. But in order to do this we need to put forward lot of effort. Organizing and managing and controlling a business make it really harder for new comers. The term entrepreneurship refers those intelligent business minded people, who come with great ideas of establishing the business. There are government bodies who helping those new comers. So that they can beat up the rivals and make their ideas into great success.

Lets us look at how a business man like Bill Gate had become most successful individual in the world. He did not have fancy education. All he knew when he left high school was simple programming language. He dropped high school because we went to through big idea which he is today. This man had contributed almost 50% of the modern day success using computer revolution. Today he offers job opportunities for millions of people. Being an entrepreneur means the person is adding a lot of value to the economy as a whole. It helps the persons too since the business generates lot of profit. According to Wikipedia it defines entrepreneurship as a person who undertakes and operates a new enterprise or venture and assumes some accountability for the inherent risks. In the context of the creation of for-profit enterprises, entrepreneur is often synonymous with founder.

Let us look at the entrepreneur resources available to those news comers in the business fields.

1. Physical resources

Those resources are tangible such as fixed assets and raw materials which are touchable. Some of the natural resources include minerals, energy resources ns land. The main resources can be classified as land labour capital. Those are three major components in formation of a business.
Valuable resources shared by a large number of firms cannot be a source of competitive advantage or SCA. Because of there wide-spread availability, they are not rare. An example might be a legal resource, either independent professionals on retainer or staff. Their major purpose is to minimize threats of law suites from a contentious environment. How rare does a resource need to be to generate a competitive advantage? If supply and demand are at equilibrium and the market clearing of resources is generally affordable, it would seas to be rare. Fore example good location, managers that are also considered as god leaders, or control of natural resources like oil reserves.




2. Reputation resources.

They are the perceptions that people un the firm’s environment have of the company. Reputation can exist at the product level as brand loyalty or at corporate level as global image. Although technology resources can be short lived because of innovation and inventions, reputation capital may be relatively long lived. Many organizations maintain high reputation over long period of time. The fortune survey used eight deferent criteria rankings: the quality of management, use of corporate assets, the firms financial soundness, the firms value of an investment, the quality of product and services, innovation, the ability of attract, develop, and retain to people and extent of community and environmental responsibility.

The opportunities includes
1. Industry and market structure:

It is really important for a entrepreneur to find the opportunities available in the home. For example people of Malaysia have got Multimedia Supper corridor who accept reliable and creative ideas to start up a business. It is always advisable for young entrepreneur to starts with a new business. But this is not by law so things can be change if either way. Searching for opportunities at home will help to reduce the time constraints since you have a clear view of what the market conditions and other factions necessary to be known by you. But it is not good to go for expensive investments at the start. Try to get finance from your own saving rather than going for a bank loan. The entrepreneur is not advisable to spend on a business which is need sunk cost money. This means heavy advertising or spending on buying the new business might not add value to him business. When ever there is a failure of the business the owner will lost money.
2. Changes in perception:
This could be a great idea if you are going for a real profit making business. The pros of doing this are that the business is already with good reputation and bunch of regular customers. New comers need not have to worry about his lack of knowledge about running the business since almost 75% of everything is ready made for him. He has to think about new innovative ways to continue the business with a profit. But is really important to learn the tactics used by the previous owner to capture and run such a nice business. But it is really worth doing to make a business plan. This will help the owner to have over all view of what he is doing and this could be a road map for his success.
There is real support for small business owners from government as well as from private sector. They give awards for best entrepreneur of the year. This sounds really helpful for new builders of business. More than that government allow those small business owners and starters to have light loan with low interest or may be with now interest. This is really good opportunities created by them.