As a rule, the role of the active entrepreneur is to create companies, trade, and services, as well as new jobs that in turn will generate part of the gross national product and contribute to the social development of the society. In terms of the present social and economic crisis, characterized by low growth in the industrial production and high unemployment it is extremely important to support and stimulate entrepreneurship and small business in order to reform our economy and to strengthen the foundations of the modern society.
Probably here, at the very beginning of this essay is extremely important to highlight and define the concept of entrepreneurship as a career option. That kind of professional road is has been chosen recently by many young people, or by those who are aged approximately 35-55 and decide to start a business venture after a period of work as an employee. Having in mind all of the above mentioned in the lines below I will discuss broadly the concept of the entrepreneurship, not only as concept and role but also as risk and uncertainty-bearing.
Table of Contents
1. Introduction
2. Main body
2.1 Entrepreneur - Concepts and Definitions
2.2 Entrepreneurship – definition
2.3 Difference between Entrepreneur and Employee
2.4 Role of Entrepreneurship for Economic Development
2.5 Risk and Uncertainty bearing in entrepreneurship
2.6 Traits of the successful entrepreneur
2.7 Choosing the right path
3. Conclusions
Objectives and Topics
The essay explores the fundamental decision between pursuing a career as an employee or as an entrepreneur, analyzing the defining characteristics, risks, and economic impact of each path.
- Conceptual definitions of entrepreneurship
- Comparison between entrepreneurial and employee profiles
- The role of entrepreneurship in economic development
- Risk management and uncertainty in business ventures
- Essential traits and skills for successful entrepreneurship
Excerpt from the book
Role of Entrepreneurship for Economic Development
A lot of studies have been conducted on the role of entrepreneurship for the economic development of the society. Most of the state one and the same – small business provides jobs for a significant portion of the population. In fact, this is the most flexible part of the labor market and being the main source of income not only for entrepreneurs and employees in enterprises but also for members of their families, small business is an important factor for the growth of the national wealth. Often it proves to be the only employment opportunity for women, young people, students, and people lacking higher education thus contributing for the creation of working habits, training and social integration of a significant portion of the population. Small business is regarded as one of the main channels for social mobility and for the development of dynamic individuals.
It also develops business and entrepreneurial skills in people, generates inventions and new organizational practices that contribute to increasing the productivity and competitiveness of the economy. Entrepreneurs working in smaller scale adapt and react more quickly to changes in demand and relatively painfully may change the subject of their activities in accordance with the market needs.
Summary of Chapters
Introduction: This section defines the role of entrepreneurs in society and frames entrepreneurship as a viable career option during times of economic crisis.
Main body: This comprehensive section explores theoretical definitions of entrepreneurship, contrasts the mindset of entrepreneurs with that of employees, examines the economic impact of small businesses, and identifies key personality traits required for entrepreneurial success.
Conclusions: The final section reflects on how individual factors like professional sphere and personal adaptability influence the choice between employment and entrepreneurship.
Keywords
Entrepreneurship, Employment, Small Business, Economic Development, Risk, Uncertainty, Business Strategy, Innovation, Labor Market, Social Mobility, Career Choice, Entrepreneurial Traits, Self-confidence, Decisiveness, Flexibility
Frequently Asked Questions
What is the core focus of this essay?
The essay examines the professional choice between working as an employee and becoming an entrepreneur, highlighting the unique demands and characteristics of both roles.
What are the primary themes discussed?
The work covers conceptual definitions, the economic utility of small businesses, the risks associated with starting a company, and the personal traits necessary for success.
What is the main objective of the author?
The objective is to provide a broad overview of entrepreneurship as a career path, discussing it not just as a business concept but as a journey involving risk and uncertainty.
Which methodology is applied?
The author uses a literature-based theoretical approach, citing various studies and theories to contrast the profiles of entrepreneurs and employees.
What is covered in the main body?
The main body breaks down definitions of an entrepreneur, compares personal skills required for different career paths, analyzes the role of small business in the economy, and lists essential success traits.
Which keywords best characterize the work?
Key terms include Entrepreneurship, Economic Development, Risk, Innovation, and Career Choice.
How does the author define the "entrepreneurial mindset"?
The author defines it through traits like unshakeable self-confidence, internal drive, decisiveness, and the ability to adapt to new or changing market conditions.
How does economic climate influence the choice between paths?
The text suggests that entrepreneurship is often more attractive during prosperous times, whereas employment offers the security of a stable income during periods of economic crisis.
- Quote paper
- Silviya Stamenova (Translationmind) (Author), 2015, Employment vs Entrepreneur. Choosing The Right Path, Munich, GRIN Verlag, https://www.hausarbeiten.de/document/437369
