Ø a major role on developing in

 

Ø  How
entrepreneurs contribute to the economic development of a country and is this
considered entrepreneurs as an agent of change. Explain your answers in details
with right examples.

 

Entrepreneurs contributes and has a high
straight impact towards the nation’s economy or the global economy or the
international economy based on what kind of the entrepreneurship is practicing
or who is the entrepreneur that is running the entrepreneurship and how big is
his influence towards the country market and economy. Economies such as China
or India keen on having liberalisation, industrialised economies. In these such
economies will open a wide gate with a high chances and opportunities for
entrepreneurship and entrepreneurs to contribute and play a major role on developing
in these countries, these economies will allow the entrepreneurs to establish
the main floor of the economy giving the chance for other entrepreneurs to
compete and come up with many advantages that eventually will benefit the
economy and country. Such as:

v  Innovation: individuals prefers to
choose entrepreneurship for the market slot available and the capability of the
entrepreneurs to benefit from this slot to make profit. And the reason for them
to choose this slot and direction is because they were unable for them to find
an employment with a suitable income, and this step will allow these
individuals to use their creativity that will eventually will lead to an
innovative ideas.

v  Job creation: as stated in the previous
point that the individuals prefer to become entrepreneurs because they were
unable to find a suitable employment. As a result of this action they take that
market slot available to generate an income for themselves but the outcome of
this will provide an opportunity of hiring more people to operate their
business enterprise.

v  Increased competition: this point is clear
benefit to the economy when the entrepreneur’s level keeps on increasing to
lead to market saturation and will cause the entrepreneurs to improve their
operations to increase value and quality and reduce the cost. Increasing the
productivity is one of the advantages to the economy that will lead to
increasing the gross domestic product (GDP).

And
for whether the entrepreneurs considered to be an agent of change or not the
answer for that is that yes definitely they are, but there are some
characteristics that make the entrepreneur an agent of change, and factors that
characterise these entrepreneurs. They have to be tenacious, creative and
ardent about their concepts and ideas. Keep the mind-set on the uniqueness of
the concepts and ideas is one of the factors that characterise the entrepreneur
as an agent of change. And what qualify the entrepreneurs to become an agent of
change is that they have the strength and qualifications to aim for the vision
that solve the problems that they identify and crack the codes that no ordinary
people can crack. So the agent of change can be described as innovative
individuals who face the problems not avoiding them, visualising the answers
being persistent on their ideas and sniffing out opportunities out of nowhere.

To
give an example of a real world leader and agent of change, the best suitable
example would be the former English lecturer and the current CEO of the biggest
online market Mayun the founder of Alibaba.com, Jack Ma founded Alibaba 15
years ago in his small apartment in Hanzhou, China. On Friday, Ma became the
richest man in China right behind the biggest IPO in U.S. and possibly mankind
history.

 

With
a market cap of $231 billion, the online store is nearly as valuable as
Wal-Mart and bigger than Amazon and eBay combined. Ma saw the Internet’s huge
possible ability to bridge businesses across China’s huge population early on.
So he and his wife invited 17 friends to his innovation idea and together they collected
$60,000 to start the company. That formed the basis for the company’s energetic
partnership structure and culture designed to drive working team effort, reduce
slow-working government departments and help increase responsibility for behaviour
for long-term growth. China’s lack of brick and mortar infrastructure has
always been an unbeatable hurdle for the huge nation’s small business entrepreneurs.
Alibaba solved that and now accounts for 80% of the country’s ecommerce – a
whopping $248 billion in 2013 and more than twice that of Amazon. Many other
amazing entrepreneurs can be taking as mentors that leads individuals to their
right correct way when learn from their mistakes and focus on their strength
point of view such as Apple, Facebook, Google, Microsoft, Uber, Starbucks and
many others. What do the names and brands of all these companies have in
common? Completely and totally nothing. Some are conjunctions or made-up words.
Others are common words or phrases. There’s even a fruit. It’s what your
business does for customers that counts. Not your name or personal brand. And
that’s what defines an agent of change or a world leader entrepreneur.