Entrepreneurship is “the capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit”. According to my classmate (Crystal)’s blog, she states that people are more likely to have their own choices in controlling their own business (Marketing and Entrepreneurship). By following this, it is able to encourage more and more people nowadays to establish their personal entrepreneurship in current years. From my own perspective, those people also need to consider plenty of factors before they start their own entrepreneurship, and then analyzing whether the entrepreneurship is for them or not.

To illustrate, the purpose of beginning an entrepreneurship is to earn profit from it. Otherwise, it is wasteful to set up a business if the entrepreneur does not help them gain any benefits. By following this, it is also essential to become a successful entrepreneurship, which mean that the entrepreneur “requires a business planning, innovation and risk-taking”. Despite that all entrepreneurs have the “freedom and the independence” to use ideas from themselves, they are still required to consider about whether their ideas are useful enough for a new-started company or not. Hence, younger entrepreneurs need to have a concern about which type of business that they are interested.

(Entrepreneurship)

Moreover, starting someone’s own business is always being a hard thing to do, and it also is a challenge for them to make their personal decisions at the meantime. All of decisions that the entrepreneur are going to make, will directly bring effects on the company. To be more specific, some smaller decisions may only influence a few changes in the company’s total profit, however, bigger decisions are able to affect whole company’s operation. Under this case, it is better for those new entrepreneurs to consider if they have ability to operate their company positively in the future, and whether they are familiar with the business policies.

Overall, as Crystal mentioned in her blog, entrepreneurship is a widespread business, which means the entrepreneur can attract a great amount of entrepreneurs to take part in this area. Personally, I am also interested in exploring my own entrepreneurship even if it is quite risky to most people. After I had lecture in talking about entrepreneurship, I began to have a deeper view on this topic. As far as I am concerned, entrepreneurship can be an excellent method for exploring one’s potentials, and also finding their own development by throughout their own company’s progresses.

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References

http://www.businessdictionary.com/definition/entrepreneurship.html

https://canadabusiness.ca/starting/before-starting-your-business/is-entrepreneurship-for-you/why-consider-entrepreneurship/

Marketing and Entrepreneurship

(Teamwork)

Teamwork is the word that is always placed around in the business area, and it is able to be defined as a group of people are efficiently working together in order to achieve a higher expectation and goal. When a new team is forming, all members from the team start to get know with each other. However, as everyone knows that they all have their distinct characteristics and ideas, therefore it will cause the existence of conflicts among each other in the group. This way, all team members need to put efforts together, and build a better team structure.

In a teamwork, each member has to take their own responsibility, hence they will get the opportunity to have a deeper understanding in what the group work is. “Teamwork in the workplace involves cooperation among workers” (Lewis, (n.d.), para. 3), which demonstrates that all workers are required to contribute fairly. In another word, managing and making sure that everyone receives the right amount of work are significant to the whole group, hence the leader has to consider about whether the work is distributed evenly or not (Knight, 2017, para. 3). Due to the fact that people would like to do the job which they are interested in, so the leader needs to hold a meeting before assigning the work. Under each member’s will, they are going to work harder to make the group preform effectively.

However, people who finish early can also assist others (Knight, 2017, para. 8), thus all members from the group are binding together, and the group can move to a higher-level stage. Furthermore, having a plan and making rules for the team are essential approaches for building an efficient team as well, so that everyone knows they “must devote time to it” and also complete it on time (Knight, 2017, para. 4). To illustrate, while rules have been established, it represents the existence of punishment as well. By following this, it leads people feel stress, which can also encourage them to start their responses.

As far as I am concerned, teamwork is always good for someone to learn about sharing ideas and accepting other’s ideas. A group of people to achieve same goals and expectations is much easier than people to achieve by themselves. From a business perspective, teamwork also teaches individual how to work and communicate well with others, and people cannot deny that being flexible is such an necessary skill in a business life. Overall, teamwork plays a significant role, but how to make team work better is the process that each member has to experience.

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References

Lewis, J. (n.d.). The Definition of Teamwork in the Workplace. Retrieved October 12, 2017, from http://smallbusiness.chron.com/definition-teamwork-workplace-36105.html

Knight, R. (2017, May 03). Make Sure Your Team’s Workload Is Divided Fairly. Retrieved October 13, 2017, from https://hbr.org/2016/11/make-sure-your-teams-workload-is-divided-fairly