Entrepreneurship Is The Essence Of Capitalism - 3106 Words

An entrepreneurship is the essence of capitalism, some people hate capitalism because of what it stands for and the effects it can cause to environment or the culture .But deep down inside, most want to be independent from working a job. Entrepreneurship is freedom to believe an create wealth, to be able to act on something, seeing as an opportunity , filling a need , while making money in the process .Problems are opportunities for the Entrepreneur .There are characteristics for entrepreneurs such as risk taker , freedom , independent ,leadership , organize , visionary and compulsive. Background For the report the author was also required to demonstrate an ability to undertake critical analysis and take each topic area and report†¦show more content†¦Literature Review Evaluating and critically analysis the interviews transcript Entrepreneur A and Entrepreneur C have different business and also poses different characteristics .Looking at the Entrepreneur A’s transcript the entrepreneur has a business on E-Bay and also has a business partner .In the interview Entrepreneur A explained that he had an opportunity to start an online business and there was a potential market for personalised gifts and did his research and found out that there was quite a small low cost to start the business but the good venture, as a small start-up business it seemed to be to set up and selling small custom made badges . The entrepreneur and his partner managed to find a supplies for their business so they can start. He was so innovative that he had to create some designs to set up their small business on e-bay, this shows that he had entrepreneurial characteristics. Their business started to grow and it managed to branch out into generating different product s for the business such as customised t-shirts and hoodies, tote bags, and even customised key rings, he explained that these new products proved to be good for the their market and their niche market was for events such as birthdays and anniversaries and was good because they were innovative (Delmaret al 2003.). Entrepreneurship In order to be a successful entrepreneur an individual needs characteristics such as: self-confident, risk-taker, innovative,