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Hi, need to submit a 2500 words paper on the topic Entrepreneurs Typically Learn from Failure.
Hi, need to submit a 2500 words paper on the topic Entrepreneurs Typically Learn from Failure. According to analysts, the pioneering element within the discourse of entrepreneurship entails the creation of new laws, methods, and practices. Another challenge involves a lack of precedence about the opportunities available in the new field. As such, the levels of success or failure are usually based on chance and strategy (Shepherd, 2003, p. 6). The initial processes of entrepreneurship are generally considered as an experimental stage. This phase entails an assessment of the methods and strategies chosen against the reality on the ground.
Some studies consider entrepreneurship as a learning process. It is a process the involves the transferring of abstract ideas and strategies onto a practical level. The initial stages of entrepreneurship provide important information to the entrepreneur with regard to the kind of opportunities that are found in the field. The results provide an assessment of the nature of the field and the suitability of the chosen strategy in the actualization of the chosen strategy. In this regard, it becomes important to assess the levels of failure with regard to the opportunities, challenges, and general market forces that determine the performance within the chosen area of entrepreneurship. Analysts in the field of entrepreneurship argue that the levels of success are usually determined by the ability of the entrepreneur to access special insights into the dominant market forces that determine the levels of success in the venture.
According to analysts, a good entrepreneurship spirit usually involves a balance between the risks involved and the anticipated benefits. Although entrepreneurship generally involves an element of risk, good entrepreneurial opportunities are must not be conducted in a gamble. Analysts point out that entrepreneurship must be conducted through some organized method with definite timeframes in order to minimize the elements of risk.
