Opportunities are at the heart of entrepreneurship. Critically discuss Essay

Opportunities are at the heart of entrepreneurship. Critic anyy discuss this statement and inform how entrepreneurial opportunities are identified - Essay ExampleEntrepreneurial ventures provide more jobs than large firms. In the 70s and 60s, small enterprises had a net gain, despite severe recessions, in job creation. In the US, small firms rate for two thirds of jobs created in the private sector (Sahlman, 2009 p26). Interestingly, over the same period, an approximated 500 companies lost five jillion jobs. Small and medium enterprises provide the local population with employment. This helps promote the development of such areas as national cities. Sponsorship of local events also helps discover new talent which when developed proves beneficial to the local economy.Entrepreneurial opportunities back be defined as situations whereby new organizational methods, markets, raw materials, services, and goods can be introduced to existent ship canal of business operations. The introd uction is via formation of new ends, heart or means-ends relationships. The situations do not require a change in economic exchange terms in order to become entrepreneurial opportunities. Rather, all they need is potential to change the economic exchange terms. Entrepreneurial decisions, unlike satisfying or optimizing decisions, are creative decisions. This means that the entrepreneur creates the ends, means, or both in the chain. The creation of these frameworks of new means-ends in entrepreneurial making of decisions marks a crucial difference in optimization of previously established frameworks. They cannot be optimized for exploitation since they are unknown. Entrepreneurial decisions involve identification or creation of new ends or means previously undetected by participants in the market (Audretsch, 2010 p67).This opus aims to explain the role of opportunities in the run of entrepreneurship. It also seeks to examine entrepreneurship through a framework focused on the exis tence and characteristics of entrepreneurial opportunities. Finally, the paper seeks to discuss