Enterprise Development Essay Example | Topics and Well Written Essays - 750 words

Enterprise Development - Essay Example No it is not! It is also not possible for a gambler to gain consistently over a large period of time. Even the best of gamblers lose money consistently which proves that the role of chance is quite significant in gambling. This is not the case in entrepreneurship because there are many examples where entrepreneurs have earn large returns over a long period of time. Entrepreneurs and gamblers are different in the way that gamblers leave many things to chance whereas entrepreneurs do not (Wee, Lim, & Lee, 1994).There is no doubt that the role of chance in the success of an entrepreneur is also not negligible but this is nowhere similar to chance taken by gamblers. Entrepreneurs like Bill Gates, Mark Zuckeberg etc all started their business as entrepreneurs but today they are known to the whole world. This cannot be said for any known gambler of the world. Entrepreneurship is not gambling because there are many controllable factors in entrepreneurship. Entrepreneurs have a lot of control in how they manage their business and risk which is why entrepreneurship is not equal to gambling. Entrepreneurship is much more than gambling as it involves studying markets and taking calculated risks in hope of yielding high returns. One can easily gauge customer demand and using sampling and other procedures to do a trail run in order to test a particular product or service. Measures like these can be taken to cut down the risk and decrease uncertainty of any business. This is why gambling cannot be equated to entrepreneurship. There are many factors that play a role in the success of entrepreneurs like innovation, strong will, and farsightedness. All these factors decide whether an entrepreneur will be successful in the longer run or not. This shows that the success and failure of entrepreneurial ventures is not dependent on chance but on factors like innovation. Will innovation, strong will, and farsightedness makes a gambler