Entrepreneurship is the process of starting new businesses, generally in response to opportunities. For instance, fred carl, founder of the Viking range corporation, saw an opportunity to create an appliance that combined the best features of commercial and residential ranges. Many people think entrepreneurial ventures and small businesses are the same, but they are not. Entrepreneurs create entrepreneurial ventures-organizations that pursue opportunities, are characterized by innovative practices, and have growth and profitability as their main goals. Examining entrepreneurship from the perspective of the four managerial functions: planning, organizing, leading and controlling: what are the challenges faced by entrepreneurs? What are some solutions to these challenges/issues?

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Introduction As individuals try to identify new business opportunities launch and run a business they are faced with various challenges How an entrepreneur deals with these challenges determines the s... View the full answer