ENTREPRENEURSHIP Essay Example | Topics and Well Written Essays - 1500 words

ENTREPRENEURSHIP - Essay Example e prime intent of this report is to analyse the entrepreneurial behaviour of a restaurant owner who is running a restaurant business by conducting face-to-face interview with a predefined set of questions. While identifying the rationale of preparing this report, it is to be affirmed that today, food industry is one of the growing sectors and therefore encouraged the business owners to establish restaurants with the aim of earning more profit (Palo Alto Software, 2015). Therefore, there exists a high competition amid the restaurants, as this appears under the category of ‘perfectly competitive market’. It is thus necessary for a restaurant owner to select the target customers and try to fulfil their necessities as per their demands. Entrepreneurship denotes the readiness and the ability of an entrepreneur to establish and manage a business along with the risks involved in it with the intention of earning maximum profit (Harvard Business Publishing, 2015). An entrepreneur is responsible for developing a business model and procuring necessary resources that are required for running a business in an efficient manner (2Entrepreneur Media Inc, 2015). Entrepreneurs are duly considered to be the leaders who always desire to take risks and implement the opportunities derived from the market by means of improving existing products/services (Brooks, 2015). In relation to a restaurant business, the entrepreneurship theory or model fundamentally represents certain skills including the management and team building skills that are considered as the leadership attributes, which deemed to be quite essential for the entrepreneurs to obtain greater success. However, one of the major elements of entrepreneurship theory in the context of restaurant business is the passion for conducting business and remaining self motivated throughout the business or operational process (Kuratko, 2013). In relation to the restaurant business, the entrepreneurship theory represents the fact that