Essay: An entrepreneur’s job

Sample Essay

An entrepreneur’s job also plays a key role in the sociological stratum, as he experiments with people and introduce necessary modification in the product that would ensure that the is a success in the new markets. In other words, the entrepreneur holds the responsibility to introduce the product or service in to new markets. Starbucks coffee and failure of Wal-Mart in Germany and South Korea epitomizes this aspect as failure to pay due regard to certain aspects of various cultures that often results in the company pulling out of the country. Therefore, an entrepreneur’s role is to tailor the good in such a way so that the goods and services can be used by all members of the society, regardless of their cultural or ethnic background. (Katz & Shepherd, 2003, p 176)

A geographical entrepreneur is an individual, who is an expert on timing; the individual is well-aware of the production process and all the steps involved in it. The individual knows exactly when the good will arrive in the market to fulfil the demands of the consumers. Entrepreneurs also decide what kind of products are sold in different markets for example fur coats can not be sold in markets where the temperature is really hot and therefore, a geographical entrepreneur decides what kind of goods are sold in different markets and also decides the course of transportation in the markets keeping track of time when the demand for the good or service is at its peak. (Kumar, 2008, pp 41-42)

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