Contest Lecture 02: The Nature and Importance of Entrepreneurship.
Assalam O alaikum.
Participating in writing contest allowed me to explore various topics and share my thought in simple and engaging way as a cardiology student i enjoy learning about different subjects that can broaden my under standing and contributes to my growth this post is my entry for contest about entrepreneurship where i will discuss the influenced of culture on starting a new venture explain some key terms and describe steps to ensure the success of a new business.
Culture and Its Influence on Entrepreneurship.
Cultures play a significant role in shaping the desirabilities of starting a new ventures in some culturals and entrepreneurship is highly values and individual are encourage to take risk and innovates. For example in the United States the idea of the "American Dream" promoted the notions that any one can achieve success through hard work and determinations which foster a strong entrepreneurial spirit. In contrast in more traditional culture like those in some Asian countries entrepreneurship might be less desirable due to a preference for stabilities and family oriented careers. In my culture entrepreneurship are slowly gaining importance with more people seeing it is a way to create opportunities and contributes to the economy.
Key Terms Matching:
Gazelles .
High growth companies that are expanding rapidly.
Lifestyle Firm .
A business that provides income to its owners and allows them to pursue a particular lifestyle.
Government as Innovator .
When the government takes an active role in promoting innovation through policies and initiatives.
Ordinary Innovation .
Incremental improvements to existing products or services.
Practical Scenario:
If i were to started a new business i would begin by conducting thorough market research to understanding the demand and competition. Next i would create a business plan outlining my goals target audience and financial projection.To ensure the ventures desirability i would focus on offering a unique product or services that meets a specific need in the market i would also seek feedback from potential customers to make adjustment accordingly. Lastly i would secure funding whether through personal saving loans or investors to ensure the business is financially viable.
In summary entrepreneurship is influences by culture and understanding this influenced can help in making informed decisions when starting a new venture.
I am inviting friends @isha-rehman @hamzayousafzai @amjadali
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Your thoughtful exploration of how the culture shapes entrepreneurship is insightful and well articulated. You have effectively connected the key concepts with practical steps making this an inspiring read. Well done and take care of yourself.
Thank you ❤️
Thank you very much for sharing your high-quality post in our Steem Entrepreneurs Community. We always strive to endorse and promote excellent content within our community. We sincerely hope that your contributions will persist in inspiring and fortifying the entrepreneurial spirit among our members.
Kind regards:Steem Entrepreneurs Team
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