International Entrepreneurship Essay Example | Topics and Well Written Essays - 2000 words

International Entrepreneurship - Essay Example People often misunderstand the terms entrepreneurs and leaders, it is perceived that both the terms are synonymous but in reality it is not so. The traits of an entrepreneur are quite similar to that of a leader but it is unfair to say that both the terms are synonymous. This paper is going to deal with the risks which the entrepreneurs take and the dividends the same pays at a later stage. The word seminal means original and influential. These two are the most important qualities expected of any entrepreneur. It is very important that an entrepreneur sustains the growth of the company and at the same should look forward to increasing the same and it becomes highly imperative that the company uses innovation and creativity. An entrepreneur is expected to have a drive which can take the company to another level altogether. The hunger of the entrepreneur should reflect in the activities of the company. Entrepreneurship is considered to be very risky and trick, simply because many new ventures fail to perform as expected. "Most commonly, the term entrepreneur applies to someone who creates value by offering a product or service. Entrepreneurs often have strong beliefs about a market opportunity and organize their resources effectively to accomplish an outcome that changes existing interactions." ( Wikipedia, August 21, 2008). People who think out of the box, in the sense that, those who are able to see an oppurtunity and react according to the situation usually become entreprenuers. Eutreprenership contributes immensely to economy of that particular country, it also creates many job openings for the people. There are many views of the entrepreneurs for instance the classical view, the psychological etc, innovation falls under classical view of the entrepreneurs and it is based on the assumption that the entrepreneur is doing rather than owning. Innovation provides the entrepreneur with a great start and enables early growth in the organization. The risk faced by the international entrepreneurs is much high than the domestic entrepreneurs. This is also because the activities of a foreign market are much more complex than the domestic market. The international entrepreneurs take full advantage of their access to the foreign markets and availability of cheap labor but everything comes at a price, they also have to adjust to the foreign culture quickly, failing to do so would go on to produce undesirable results for sure. The market power of an entrepreneur is increased by the movement in the market power. The same helps the entrepreneur in spreading the risk and leveraging faster returns on new products. To be an entrepreneur one needs to have greater independence and self -fulfillment. When a person becomes an entrepreneur, he/she becomes self employed and it is