Value of Business Enterprise and Roles of Entrepreneurs In Business

Enterprising individuals are always opportunity seekers and problem solvers. They see opportunities where none exists, and they see value where people don’t see nothing. Their enterprising abilities turn them into entrepreneurs, and they combine enterprise with entrepreneurship to advance themselves and also solve the needs of others.

People’s interests and needs abound in any given community or society, and not all these interests and needs are easily obvious – but an enterprising person will see them with a natural eye trained for such. This means an enterprising individual sees needs and wants before they become obvious to those affected, and he takes steps to cash in on the situation by providing solutions that become a win-win for all concerned.

Roles of Entrepreneurs In Business

An enterprise is basically a business entity that thrives by providing targeted solutions and sustained by rewards brought about by such solutions. So an enterprise can be personal or general, formal or informal, local or community-based, national or global, and it can in any field or industry. The value of any enterprise lies in the solutions it provides to problems, and the satisfied needs derived by the targeted audience.

While an enterprise provides solutions to people’s problems and earns a reward from this activity, an enterprise may benefit and grow larger by interacting with other enterprises in the community. This relationship will make enterprises within a given community to be dependent on one another in a business-to-business fashion, and the output of one enterprise will be the input of another. To this extent, a properly harnessed opportunity will generate more opportunities for other enterprising persons.

When people acquire education, they are better equipped to succeed in various areas of life, and their acquired skills can be applied to aspects that provide solutions to common problems. These skills can be used to develop various enterprises, and this ensures that everyone can succeed with only what they have, where they are, and achieve what they want with limited resources.

Based on this, an enterprising individual goes on to become an entrepreneur and fulfills the following roles in any given business:

  • The enterprising entrepreneur promotes values by identifying opportunities, managing scarce resources, and executing plans to achieve given objectives.
  • The enterprising entrepreneur hires other people to work with him or collaborate with other associates to achieve ultimate goals. He needs the experience, training, and influence of others to succeed.
  • The enterprising entrepreneur reduces risks of failure by bringing other people on board as investors and shareholders, thereby spreading the business portfolio and having more capable people to run things.
  • The enterprising entrepreneur ensures that his business conforms to all legal requirements and the interests of investors or shareholders are safeguarded to ensure transparency and return on investments.
  • The enterprising entrepreneur is a great organizer. He knows how to organize people, events, and resources. He is adept at organizing organizational structures and he understands the needs for departments and sectional units.
  • The enterprising entrepreneur is a risk-taker and an accurate forecaster. He could calculate returns on investments and estimate how things will turn out within manageable aspects of personal control.

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