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Entrepreneurial Process Paper

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Entrepreneurial Process Paper
Kellie B. Halsted RN CCM
April 22, 2013
Dr. Sherry McGee

Entrepreneurial Process Paper
Identifying an idea and transforming that idea into a viable business opportunity has been described as the art of entrepreneurship (Barringer & Ireland, 2010). The pursuit these ideas are done without regard to any resources at that time. Entrepreneurs possess innate qualities such as creativity, drive, and a willingness to take risks. The products and services that they create improve our health, make our lives easier, or perhaps increase our productivity at work. Entrepreneurship, however, is a process that includes the decision to become an entrepreneur, developing a successful business idea, turning that idea into a reality, and managing and growing their firm in today’s competitive market. Each of these steps has a value and is ranked based on importance and perspective. The new products and technologies developed from this process can stimulate and influence different industries, such as the delivery of health care products and services.
People usually become entrepreneurs as a result of some triggering event in their lives. According to Barringer and Ireland (2010) the three main reasons an individual will choose to become an entrepreneur is to be their own boss, pursue their own ideas, and reap the financial rewards of their pursuits.   Most frequently, some entrepreneurs find that they have always had a desire to run their own organization. This does not mean that these individuals have a difficulty working with other individuals or with those in authority positions.   They do, however, find that they became frustrated with working in traditional jobs and sometimes felt that the only way that they would realize their visionary ideas is to start their own business. It is the entrepreneur’s passion for the product or service they believe will make a difference in people’s lives and the world a better place to live in that...

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