Table of Contents
Stokel-Walker, C. (2017).Want to Be an Entrepreneur? Leave Politeness at the Door: What qualities should a leader have? The answer can indicate levels of entrepreneurship in a country
The strategy is the primary building block of competitive advantage and distinctiveness. The entrepreneurial approach is a process which entails several activities that enable firms to engage in establishing and sustaining competitive advantage. Entrepreneurial companies can face several challenges which limit them from succeeding. The initial endowments influence entrepreneurial. Furthermore, entrepreneurial organizations vary from other companies in essential ways and these differences influence both how the entrepreneurs compete and sources of the competitive advantage which they have. According to Stokel-Walker, (2017), there are a higher number of entrepreneurs in many countries who are practicing adverse business practices despite the controlling for the education level and gender which was affecting entrepreneurship. In a state that has a high number of entrepreneurs, an entrepreneur requires to elicit co-operation from other individuals and avoiding giving too much away. Therefore, there is the need for an entrepreneur to be guarded, hard-nosed and competitive. The number of entrepreneurs in a country is likely to increase in a state which people prefer leaders who are strong-willed as compared to where individuals put less preference on leaders who are strong-willed.
Kosa, A., & Mohammed, I. (2017). Uncovering the backings to passion: why do small firm owners/managers engage in entrepreneurship?. Journal of Innovation and Entrepreneurship, 6, 1, 20
Entrepreneurial engagement entails the evaluation, discovery, as well as exploitation of available opportunities by people. Entrepren1eurship enables the small businesses to discover new business opportunities which contribute to their differentiation from other organizations. Institutional and individual conditions are the major factors that are found to determine entrepreneurial engagement. Passion is an essential competitive value as it comprises of the particular situation that defines entrepreneurial commitment. Passion is required since it is a means used in achieving high-performance levels as well as overcoming the change barriers that might occur (Kosa, & Mohammed, 2017). Some of the entrepreneurial passion strategies include exploring new markets, sourcing for the founding capital and developing and establishing new products. The competitive advantage of passion is not only essential when entering a new business, but it is also critical when involving entrepreneurial activity for the firms that are already established to grow and survive. The entrepreneurs for the small businesses who are passionate must find ways in which they can use in accessing resources and collaborate with the government institutions in extending their passion to the real practice. Also, they should participate on the entrepreneurial action as they might arguably become much zealous with government support and existence of resources that they can use to engage on entrepreneurship.
Parwez, S. (2017). Community-based entrepreneurship: evidence from a retail case study. Journal of Innovation and Entrepreneurship, 6, 1, 14
A community-based enterprise is an essential tool for the realization of the potential for the deprived and marginal communities that have been isolated from the dominant economy, and it is critical in creating social uplifting. Entrepreneurial activities that involve the creation of domestic public goods for society have a competitive value over absolute activities that are market-oriented. The poor or developing countries mainly suffer from negative determinants regarding the entrepreneurial activities. The entrepreneurial strategy for the entrepreneurship which is community-based is making of goods that are meant to be utilized by everyone in the society which contributes to the strengthening of the local economies (Parwez, 2017). The community-based entrepreneurship provides a promising method towards the reduction of poverty in the deprived communities to the extent which is limited. Leadership is the essential competitive advantage for the community-based entrepreneurship to succeed as good leadership helps in recognizing the risks and opportunities while trying to mobilize capacities and capital meant to realize social advantages.
- Kosa, A., & Mohammed, I. (2017). Uncovering the backings to passion: why do small firm owners/managers engage in entrepreneurship?. Journal of Innovation and Entrepreneurship, 6, 1, 20.
- Parwez, S. (2017). Community-based entrepreneurship: evidence from a retail case study. Journal of Innovation and Entrepreneurship, 6, 1, 14.
- Stokel-Walker, C. (2017).Want to Be an Entrepreneur? Leave Politeness at the Door: What qualities should a leader have? The answer can indicate levels of entrepreneurship in a country.