What does it take to be a successful business, business and finance homework help

STUDENT 1(Joshua)

What does it take to be a successful business?

That is the million dollar question, and not only be a successful one but to start one up can be even more challenging. Having a successful business takes great leadership, because it all starts out at the top and trickles its way down. Leading your business or team to understanding the key concepts to what can make them successful can benefit your business exponentially. These key concepts include: the consumer, networking, and most importantly heart. When I say heart, I mean in one word what Steve Jobs said, ” You have to love what you’re doing or you’re going to give up.”

It takes a lot to be both a business manager and an entrepreneur, but they take two different people completely and they are very different. An entrepreneur takes a very creative and passionate person because they are starting up on their own completely and building their empire. A business manager on the other hand runs a business already established by someone else other than themselves. They both can be very similar as well as different. They both require a smart and driven leader to push a business to strive towards success. When its all said and done, I think an entrepreneur will always have the upper hand on a business manager because of this quote from Business Fundamentals by Donald J. McCubbrey, “There are many examples of individuals who were told they would never amount to anything and yet they went on to become very successful entrepreneurs” (pg.9). It takes something special to become an entrepreneur and not everyone has that.

An example of a successful entrepreneur that I know in my life is Bill Gates. Bill Gates is now one of the richest people in the world because of his expertise and drive to be successful. He developed Microsoft and Windows for PC’s all over the world. He is an inspiration to all because he is an entrepreneur who loves what he does and never gave that up.

Thanks for reading,

Joshua Hummer

Citation

McCubbrey, D. J. (2009). Business fundamentals. Retrieved from http://textbookequity.org/Textbooks/McCubbrey_BusinessFundamentals.pdf

Steve Jobs’ Advice for Entrepreneurs (Video File). Retrieved from https://www.youtube.com/watch?v=gxo2rGr7Yfg&feature=youtu.be

STUDENT 2 ( Christian )

  1. What does it take to be successful in business?

When starting business one must fully love what they are doing and they need to seek others who are just as passionate about the business. If someone doesn’t love their job, will they ever fully commit and give their very best every day? The business owner must come up with an idea, one that is different and can compete with other like businesses. They must also develop and execute an effective business plan. (Event Fosters Young Entrepreneurs, 2010)

  1. Explain how entrepreneurs differ from business managers. What characteristics do they share?

A big difference in managers and entrepreneurs is that mangers work for someone, they are fulfilling the dreams of another person by making their business successful. An entrepreneur seeks self-satisfaction, they start a business that can possibly secure futures for their family, while hiring others to help them along the way. Entrepreneurs also help teach and mentor others how to become self-employed and the road traveled towards entrepreneurship. Characteristics that they both share, they are both leaders and they are both motivated by success. Both, managers and entrepreneurs, will help staff to reach whatever goals they have set for themselves. They have to lead a team of people in the right direction, managers are just a little more hands on with the employees while entrepreneurs will probably work closer with managers.

  1. Discuss an example of a successful entrepreneur.

An entrepreneur I just recently read about is Rohan Suri. He created a new way to diagnose concussions after his brother misdiagnosed, (30 Under 30 2017, n.d.). Healthcare is always growing and coming up with innovative ideas is key. Mr. Suri is only 17 years old and he has come up with a new way of testing, which has proven to be successful. Not only is it a genius idea, it is cheaper than other testing software and tools used for concussion testing. He started a company that uses eye-tracking software, using a headset and a smartphone. This article states that his new way of testing has diagnoses 60 concussions since June, however is did not state in which year this occurred.

References:

Event fosters young entrepreneurs; got an idea? | camp teaches young people how to be successful in business. (2010, Jul 19). Daily Gleaner Retrieved from https://search-proquest-com.ezproxy2.apus.edu/docview/613378854?accountid=8289

30 Under 30 2017: Youngest. (n.d.). Retrieved from https://www.forbes.com/30-under-30-2017//youngest/#2e42e9b16d3

 
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