Entrepreneurship Essay Example | Topics and Well Written Essays - 250 words - 6

Entrepreneurship - Essay Example What remains after establishment of the firm is managing the enterprise into a successful firm. 2. Application of technology in modern businesses cannot be underestimated. Most business processes are heavily dependent on modern technology. For instance, computer technology has made it possible for entrepreneurs to analyse market conditions, formulate market models, and integrate the various business concepts into practice. Therefore, technology is an overwhelmingly important tool for creativity and innovativeness in that great ideas can be tried and put into practice using technology. It is also important to note that successful entrepreneurs are flexible to fiscal changes in the market. Business in the modern world has become increasingly competitive and dynamic thereby demanding high degree of business flexibility. Competition may change business conditions and fiscal policies as well and therefore, successful entrepreneurs need to be well equipped to anticipate and prepare for these changes. Otherwise, it would be difficult to maintain viable business enterprises without a clear understanding of prevailing and even future market