ENL4183 Key Features of Entrepreneurial Thinking
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- Course Code: ENL4183
- Course Title: Entrepreneurship
- Referencing Styles: APA
- Words: 9000+
- University: Open University Malaysia
- Country: MY
The fourth industrial revolution is the last advancement of humanity; it has been promoted from technological advances that the population have in their hands nowadays. Appraise some of the current and future business trends that could be adopted by entrepreneurs for a business start-up with consideration of Industry 4.0.
Start-up funding for small businesses is incredibly elusive as most traditional business loans require one or more years in business, but that doesn’t mean it’s impossible to access financing. Evaluate some of the key & contemporary sources of financing and support your answer with relevant examples.
There are multiple reasons why an entrepreneur should be aware of intellectual property rights under the law. For example, if a new start-up business comes up with a unique invention, it is vital to protect that intellectual property. Articulate how entrepreneurs could prevent others from copying their ideas invention and protect themselves from any infringement.
The new digital world requires agility, flexibility, and the ability to co-create. All of these aspects can be found within the entrepreneurial mindset. Explain the key differences in entrepreneurial thinking which are often drawn to making a decision in a highly uncertain environment, pursuing opportunities, innovation and new value creation.