Term Entrepreneurship Case study
How do you evaluate the term “entrepreneurship” through this case? Entrepreneurship term is definition as a process of identifying the opportunity, the one who organizes, operates and assumes the risk in a business converting the opportunity into marketable products or services using creative and innovative means, and through the process creates value and wealth to the society. Regarding to this case study, entrepreneurship can be evaluated by the process of Identifying the opportunity and starting a new business venture.
During Hussein’s early childhood, he began to make chocolate sales as small individual business and it Nas his first effort to enter into business. He had no idea that this would be his first step to his business career because he was Just a four-year old child who had Just started his Journey of life, but he has started by selling chocolates in village community and school to support his family and his father’s medicine and treatment. His shop was a piece of wood putting his chocolates in front of him.
Despite his father passed away, he still keeping selling chocolate and seeking for opportunity to increase his sales.
Soon later, he realized the profit of selling book is double of the profit of selling chocolate, he decided to sell book and chocolate in parallel. This case reflects that entrepreneurship is an activity of converting the means. With his creative way in the form of celebration, he made a marketing campaign for his new business through giving away his chocolates to the people in the market in the way of telling them that he is having a new business as a bookseller. Entrepreneurship is a process that need good relationship to maintain it, having a
Nell-established networking can help in entrepreneurial activities.
Hussein grew with wide knowledge about the market sellers, the buyers, the good people as well as the bad ones. This ability met better customer maintenance and relationship with the customers for Hussein’s business development. After he has gained profit by selling books at the bookshop, he started to turn new and imaginative ideas into reality. When Hussein’s teacher gave him a mission to buy some gifts that were available in a shop at the same market, Hussein bought the required gifts at a cheaper price than expected.
By adopting entrepreneurship term that is defined as converting the opportunity into marketable products or services using creative and innovative means, Hussein decided to provide such products that Nerve used as gifts such as notebooks, pens and pencils in his bookstore. Since then, Hussein had started to satisfy all the school needs and through the process creates ‘alee and wealth to the society.
Finally, entrepreneurship can be evaluated by a process that entrepreneurs nun nave willingness to take calculated risk. In this case, Hussein’s bookshop was damaged due to a big fire.
However, he was not afraid to face this challenge and he Nas continuing to his studies with a business option. He did not give up. He then reopened a bookshop and adoption of technology for potential business growth. In conclusion, through this case study, we can conclude that entrepreneurship is a process of identifying and starting a new business venture, identifying the opportunity, converting the opportunity into marketable products or services using creative and innovative means, and also a process that entrepreneurs have Unwillingness to take calculated risk.