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Entrepreneurship Case

Autor:   •  March 21, 2014  •  Essay  •  619 Words (3 Pages)  •  1,103 Views

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Entrepreneurship can be considered as an innovative action that will lead to an innovation in the end. In this business world the growing trend of young entrepreneurs can be observed in all kind of business. Those young ‘businessmen' who are entitled to go to schools for education purpose are indulging in business activities. While starting any new business or entering into the world of entrepreneurship, there are some factors which must be considered. These are lined up as follows:

a. Situation of the entering the business like his age, market condition,

b. Problems to be encountered while doing the business operations.

c. Central problems like increased competition in the market, increased use of technology.

d. Areas of consideration should to how to deal with the major competitors and how to get success.

e. After analysis, the nest step should be how to adapt the environment within the organization for advanced technology and equipments.

f. Adopt high technology in business and expand his knowledge and expertise in business operations.

It is extremely important that entrepreneur should analyze its strategic position of his firm in the market. A firm can analyze its strategic position by an analysis of its internal as well as external environment. This would help the firm formulate its outsourcing strategies in a well-planned and strategic manner. Entrepreneurs elect to outsource for a variety of reasons. Some of these reasons are tactical, while others are strategic. It is very crucial for a firm to take the decision of outsourcing based on a number of factors including its internal processes as well as its external associates, suppliers and outsourcing partners. All of these factors will help an entrepreneur analyze the need and feasibility for outsourcing along with the various benefits and disadvantages of outsourcing. Outsourcing

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