A solution to improving the innovative and entrepreneurship Essay

A solution to improving the innovative and entrepreneurship purlieu in the Arabian disjunction - Essay Example1). but many a times when these enterprises turn out to be successful, possibilities of the world witnessing the advent of new applied science improves. In such cases, not only is the entrepreneur who initiates the endeavour benefitted, but the region which hosts such activities gains as well. This is the reason why developing nations are more in need of such entrepreneurial activities which spans live for successful innovations. Nonetheless, such undertakings require encouragement on part of the national government of the concerned nation. study administrations of most developing nations are rarely in a position to afford the opportunity appeal of fruitless endeavours which is why they often back off. In addition developing nations are also pester by a large number of amicable drawbacks ranging from conservativeness to lack of adaptability which tend to hold back th e entrepreneurs. Gulf of Arabia could be regarded as an example of one such region which had been characterised by such economic and social glitches till a few years ago. The present paper attempts to figure out an entrepreneurship model that suits the environment of Gulf of Arabia, as well as spurs possibilities of future innovations. Although support from the provincial government and society from both conceivable aspect is necessary for entrepreneurship, a budding entrepreneur must also have robust business acumen, defined by a number of characteristics. Firstly, a potential entrepreneur needs to be ambitious and competent in nature, with a clear understanding of the challenges he is likely to face and ship look to extradite out of the same. Secondly, he must not be afraid of taking risks since they might subsequently reap hefty business returns. Thirdly, such people should be visionaries in their own small way and creative as well so as to make the best possible use of any opportunity that crosses their path. Being creative and unique also helps them to leave their own mark and thus edit their own path of success. Fifthly, it is important to stay highly focussed and committed towards their target to minimise chances of errors. away from the feature defined above, it is also necessary that a soulfulness contains managerial skills which help him run an face successfully. Moreover, technical know-how is also a vital area which boosts a persons creativity and hence, expertness in the field where he is venturing out (Gitman & McDaniel, 2008, p. 130). Last but not the least, a potential entrepreneur must be a good observer as well, who is able to study accurately the read nature of the customer base he is going to serve. Nature implies both intrinsic characteristics with which a person is born as well as the ways in which he is likely to behave when visualised to different situations. Economic and social environment prevailing in a region only complem ents the already existing entrepreneurial potentials in a nation. In fact, it could also be said that economic fare in the true sense of the