Failed Entrepreneurial Activity - 1664 Words

When talking about the fail entrepreneurial activity, general public have controversial definitions of failure as some may think of liquidation of company and some suppose the fail investment of a particular area only. Despite polemical definition of failure, at least it states that the company stagnate in the fast changing world. According to the Burns (2010), the success is a survival for the long term in the turbulent business world. It hints that the failure represents the collapse of the business growth, which causes the risk and the worst situation is the personal bankrupt. In the following paragraphs, the dark and bright of fail outcomes would be introduced and discuss whether the failure is a desirable outcome of entrepreneurial†¦show more content†¦Failure would be a coordinate effect to help entrepreneur repent their own error and negative personality. After making the destructive error, people will be more prudent and considerate to make the determination. Previou sly experienced failure and re-entered are likely to experience lower psychological costs if they subsequently fail (Ucbasaran et al, 2012, cited in Jenkins, Wiklund Brundin 2013).Even though recovering from the destructive torment is not easy, the entrepreneur can feel a greater sense of satisfactory and success, making them treasures the things they own. The more powerful and unbreakable faith is a favourable outcome of failure. More important is that, Failure can help specify and simplify the company, which can be sustainable in the long term. When failure appears, some companies will sell parts of assets to the closely related companies and remain the core business area. Having that decision can reposition the target market by focusing on a few products and simplify structure of business to increase economies of scale. For example, Eastman Kodak is a famous international photography company but faced the company bankrupt recently. In spite of facing the failure, some patients of Kodak are taken over by Kodak Pension Plan to prevent the competitors’’ buyout. At the same time, the Kodak focus the business on the manufacture of photographic machine and the Kodak Pension Plan establishes new company theShow MoreRelated21200 Words   |  5 Pagesï » ¿ CHApter1 2.What key insights does the GEM study provide us about entrepreneurship?      Of particular interest to GEM is early stage entrepreneurial activity, which consists of businesses that are just being started and businesses that have been in existence for less than three and one-half years. While the high rates of entrepreneurial start-up activities occur in low-income countries, where good jobs are not plentiful such as brazil, china, Argentina. Low rates occur in high-income countries,Read MoreEntrepreneurial Edge : A Business Report1264 Words   |  6 PagesIt is alleged that since April 2017 I have failed to provide full and frank disclosure to the Department regarding my interest in my business ‘Entrepreneurial Edge’. Specifically that my response of 29 May 2017 that the proposed services of Entrepreneurial Edge were ‘undetermined’ is at odds with: 1. my previous comments to Ms Freeman on 5 April 2017 that the purpose of the business will be to ‘connect businesses with consultants’, noting that Ms Freeman’s recollection has been put to me on atRead MoreUnderstanding The Spirit Of Entrepreneurs1476 Words   |  6 PagesEntrepreneurial Analysis This analysis is structured on understanding the spirit of entrepreneurs. These dynamic, innovative committed men and women have been playing a major role in global economy. Policies are made and entrepreneurs play a huge success role in delivering economic prosperity. 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The club is located within the University of Pittsburgh College of Business Administration. Our task as auditors is to examine and understand the club. The goal of this project is to issue a recommendation for improvements that our client can make. The followingRead MoreWhy Entrepreneurs Start Their Own Business1676 Words   |  7 Pagesto be quite common when looking at why entrepreneurs start their own business. I also honed into how these themes effect different people around the world and, how cultural and societal values alter the way individuals take out entrepreneurship activities. 1.1 Gender There is a sparse amount of women entrepreneurs and numerous fields women are hesitant to get involved in. There is a large gender divide in certain industries, one of the biggest ones being in the technology industry. While the