Entrepreneurship and Development of Business †Free Samples

Question: Discuss about the Entrepreneurship and Business Development. Answer: Common patterns between the fields of entrepreneurship Entrepreneurship is related to the development of business venture by touching several fields such as corporate, start-up and social. These are three types of entrepreneurship that will be explained by considering the opportunity of technology as the point of discussion. Innovation and technology implementation is the key aspects of the success of the three fields of business. Technological innovation is related to the contribution of the several attributes of technology to the higher economic output of the country that is responsible for the higher economic output. The technology used in this study as the opportunity for entrepreneurship development is hydroponics (Bataineh and Zecca 2017). The concept of corporate entrepreneurship, social entrepreneurship and start up are different from one another. Corporate entrepreneurship is defined as the development of new business opportunities and ideas within an established or large enterprise that leads directly to the enhancement of the competitive position and the improvement of the organizational profitability or can be the strategic renewal of the business models. The opportunity of technology is proven to be a great help in order to implement strategies of innovation to the world of hydroponics. Technologies can be used in the field of research and development for the cost reduction of the methods that are involved in growing crops without soil (Orsini et al. 2013). Technology can be also used in every small business operations for faster communication and perfect results of the productivity of the cultivation of the crops as well as the organizational excellence in the field of hydro-culture. The companies use the nutri ent solutions instead of soil for the growth of the crops and plants in the water solvent. The techniques that are used in the technology of hydroponics are aeroponics, static solution culture, run to waste, rotary, deep-water culture, fogponics, NFT technique, top feed deep-water culture, passive sub irrigation, etc. The substrates that are used are pumice, gravel, sand, sheep wool, rock wool, perlite, rice husks, grow-stones, coir peat, vermiculite, brick shards, etc. On the other hand, the nutrient solutions that are used in the hydroponics method of agriculture are tools, mixing solutions, organic hydroponic solutions, inorganic hydroponic solutions, etc. Carbon dioxide is used as a form of advancements (Wamukoya and Ngweno 2017). It can be said that this is a huge innovation in the science of agriculture. Day by day rate of pollution is increasing that affects the quality of the elements of cultivation i.e. air, water and soil. Hence, the technology of hydroponics is prevailing. The technology is new and is adopted by many entrepreneurs in various countries of the world. The products that are cultivated by using this method are quite different from the foods cultivated by normal methods of agriculture. Hence, the technologies have immense growth opportunity. It is up to the entrepreneurs regarding the use of the technology for developing their business idea (Brown-Paul 2014). Start-ups use a different form of entrepreneurship. Usually these are small fast growing companies. Hence, investment in the utilization of the technology is less than that of corporate entrepreneurship. The pattern of utilizing the technology is different as the forms of operations of the business are different from the other forms of entrepreneurship. Social entrepreneurs on the other hand utilize this technology or fund while expecting of getting benefit in the fields of the environmental, social, cultural issues, etc. They are recognized as for-profit organizations. The aim of this entrepreneurship is not related to individual benefit (Wamukoya and Ngweno 2017). Instead of it, social entrepreneurship focuses on the benefit of the society and environment as a whole. Utilization of hydroponics will be used for social benefit by the social entrepreneurs of the for profit organizations. References Bataineh, A. and Zecca, F., 2017. Challenges and Potential of Future Agricultural Development in Jordan: Role of Education and Entrepreneurship.Academic Journal of Interdisciplinary Studies,5(3 S1), p.11. Brown-Paul, C., 2014. California greening.Practical Hydroponics and Greenhouses, (141), p.36. Orsini, F., Kahane, R., Nono-Womdim, R. and Gianquinto, G., 2013. Urban Agriculture in the developing world: a review.Agronomy for sustainable development,33(4), pp.695-720. Wamukoya, C.M. and Ngweno, A., 2017. I-Entrepreneurship: Changing Lives Through Technology. InDigital Kenya(pp. 163-186). Palgrave Macmillan UK.