Infopreneur

Introduction: Entrepreneurship can be classified as the acts of creation, renewal or innovation that occur internally or externally of an existing business (Sharma & Chrisman, 1999). Influencing factors depict the importance of entrepreneurship in the development and growth of a country, namely: the role of an entrepreneur, the relationship between entrepreneurship and development. (users.ipfw.edu, 2007) The Importance of entrepreneurship in economic development and growth can be seen with regards to the role of an entrepreneur. Entrepreneurship is important in an economy as it bring innovation to the development and growth of a country. Entrepreneurs find a need for a particular good or service in the market and then expand on that need. Entrepreneurs are important as they create competition in a new market or compete against other organisations using innovation in an existing market. Entrepreneurs take a risk in the search of profit by triggering the production and sale of new products. Entrepreneurs also risk their and investors’ money to produce products or services which can be sold to make a profit. This allows the economy to develop and grow. (Entrepreneur.com, 2005) The relationship between entrepreneurship and development can demonstrate the growth of the economy of a country. Traditional analysis of economic growth and development tends to neglect the role of existing and new SMME (Small Medium and Micro Enterprises) firms in the economy. GEM (Global…

1) Based on Lyle Wong case study, I consider Lyle as entrepreneur. The first reason is Lyle have big ideas. Lyle dream big and think big, he was come out with ideas that haven’t been tested and work on it before. And he believe that his ideas is possible to success if he try to work on it with right way. The second reason is that I can see in this case study, Lyle love to take risk. Entrepreneurship involves recognizing, and he being willing to accept the risk that the venture may success or…