Analyzing the Entrepreneurial Process in the Health Care Industry

856 Words 4 Pages
The main point of this paper is to critically analyse the Entrepreneurial Process in the health care industry. It has been obviously stated that entrepreneurs will apparently come across distinctive challenges in imminent refreshingly new favourable conditions. Relatively, the illustration of this paper is on the acknowledgement of the problem which differentiates the entrepreneurs strive for opportunity while emphasising on decision-making, ambiguity and information irregularity. Finally, in sequence to the entrepreneurs’ advantageous chance in health care nexus is the differentiation in decision-making practice under ambiguity and besides, information one-sidedness.
Blair’s (2007) study found that, there have been relatively lots of
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Blair presented the most important basic principles undertaken for the appreciation of the series of actions directed toward the entrepreneurship and how entrepreneurial doings is vital to the novelty of new organizational structure. Secondly, Blair discussed about this relationship in juxtaposition to the health care by focusing on the three steps in the entrepreneurial model which he noted as creation, discovery, and developmental opportunities. Finally, he stated that the level of entrepreneurial activity within a given neighbourhood or centre of population is the result of an active and changing process linking social networks besides optimistic economic and officially authorized activities that reduces operational costs and promote entrepreneurship (Blair 167).
Nevertheless, the process of entrepreneurial has been reviewed and the knowledge impacted in the management scheme of work or studies. For instance, Hisrich, Peters and Shepherd (2005) study found that the entrepreneurial process entails: (1) process of change or progression of the business plan, (2) the appraisal and identification of opportunities, (3) decision or establishment of the required resources, and lastly the management of the consequential venture or new business

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