Economic Crisis And Opportunity For Entrepreneurship Research Proposal

Economic Crisis And Opportunity For Entrepreneurship - Research Proposal Example An innovative entrepreneur is expected to possess high-risk appetite when starting a venture with the clear understanding of the correlation between risk & uncertainty which can be calculated by applying known probabilities and impacts. Knowing the industry dynamics, the entrepreneurs are expected to take calculated risks into account to bear the uncertainty of production & trade. The payoff is the profit earned by the entrepreneur which is the primary motive. In this context, the venture capitalist plays the role of trusting the innovation & risk appetite of an entrepreneur and providing funds for transitioning the ideas into action thus helping in the formation of good performing start-ups. A nation having the effective framework of capitalists (Banks, Financial Institutions, Private lenders, etc.) ensures better development of entrepreneurship thus boosting the economic growth. ...Entrepreneurs generate new ideas by virtue of innovations which may comprise of: (a) Introduction of a new product in the market (b) Introduction of a new technology in the market (c) Introduction of a new methodology of production in the industry (d) Opening a new business potential & market in the region which has remained untouched largely by other companies (e) Discovery of a new source of supply of raw materials, support & services which is not known to other companies (f) Building a new organization system with the innovative business model not tested by other organizations (g) Overall, create new profit opportunities An innovative entrepreneur is expected to possess high-risk appetite when starting a venture with the clear understanding of the correlation between risk & uncertainty which can be calculated by applying known probabilities and impacts. Knowing the industry dynamics, the entrepreneurs are expected to take calculated risks into account to bear the uncertainty of production & trade.