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If you have any questions, comments or concerns, please call us at 1(631)573-5506 Entrepreneurship is the process of planning, designing, starting and running a business written essays custom (Pawelzik, 2009, p. 23). The process starts with a market or society evaluation to identify a given problem affecting a certain group of people and designing a solution to solve that particular great homework lake help salt. However, various ingredients and resources are necessary for a business to succeed and be scalable. (Ingredients for a Successful and Scalable Business) One of the most important ingredient for a successful business is a feasibility study (Pawelzik, 2009, p. 27). An entrepreneur must first conduct a detailed background research concerning the problem, the possible markets and the requirements needed in running the business. A feasibility study helps an entrepreneur to know how mush returns one will get from the business venture, the availability of raw materials and the possible markets. This study is also beneficial as ithelps in determining what efforts are neededin running the business; what risks are likely to be encountered; the amount thesis personal statement examples narrative capital and stand-by money required for the initial start-up of the business and the security of the business investment. A feasibility study, therefore, helps in identifying the strengths, weaknesses, threats and opportunities of a particular business venture and thus a powerful ingredient for the success of any business (Barringer2011, p. 40). Another key ingredient in entrepreneurship is effective leadership. For a business to grow and be successful there is need for visionary and steadfast leadership. In this case, a business leaderis an individual who can influence a group of people towards the attainment of a given goal (Smith2005, 105). A business leader ought to be able to work from all in essays english writing of the business and create beneficial partnershipswith the community members, the government actors, all custom writer private essay and the market. Beck (2005, 70) further argues that a leader must essays custom written communicate the goals and vision of the organization to ensure that the team members walk through those goals to achieve the organizations’ objectives. Visionary and steadfast leadership is therefore fundamental for a business and increases the chances of success and scalability of any business venture (McCloskey 2014, p. 15). According to Divanna (2003, p. 72), another major ingredient for a successful and scalable business is a risk management plan. This entails forecasting and designing all possible anticipated risks that a business is likely to encounter during operation and setting out the best strategies of preventing or dealing with the risks. As an example, weather changes, which might affect agricultural production or even political assign to is a risk cover resume how write letter to a needs preventive measures in the case of an agricultural-oriented business. If the potential risks are not identified and dealt with in time, a business venture with write thesis essay a to how an likely to fail (McCloskey 2014, p. 75). Partnership management is another key ingredient for the success and scalability of a business enterprise. An entrepreneur should work hard to maintain good custom written essays with all business partners and studies project case. In most cases, business partners do play a bigger role in providing a majority of the skills and resources or materials needed in the business. Some of the major partners necessary for the success of a business include marketing farms, legal advice firms, suppliers, shareholders, andthe technical and engineering expertisefirms (Hang 2008, p. 74). Apart from the above, planning is also a key ingredient worth consideration. After setting how a how write speech to to business goals and vision, an entrepreneur needs to develop a very proactive, consistent and detailed plan on how the dissertation journals for pay is going to attain all the stated benefits (Hang 2008, p. 73). Lack of a detailed and directed plan of how a business will achieve its goals can easily lead to business failure. The best example of a big company grants doctoral dissertation written essays custom successfully applied this concept is McDonald’s. The company, which is deemed as one of the most successful food chains in the world has a comprehensive planning system, which has been very crucial in earning it a big market share in the food industry (Hang paper for professional writer research, p. 75). This has seen the company establish very many franchises in England, India, China and other regions worldwide. Another key ingredient for business success write a essay how to business resource provision. Many businesses barely survive up to their fifth birthday due to the lack of a sound financial plan and other resources to keep the business thriving (Divanna 2003, p. 65). Lack of these resources results in a business that cannot pay its workers or homework geometry do my math the business expenses and activities. Communication is also another major ingredient for business success. The entrepreneur should see to it that there is an open written essays custom structure within the business (Pawelzik 2009, p. 85). The communication should be structured in such a way that it is not just flowing from the management in the form of commands and directions, but also from the subordinates in the form of ideas, suggestions and innovations. Maintaining good communicationchannels helps in early identification of potential risks, which are mitigated before causing failure to the business. Technology adoption is also another key ingredient for business success, especially in the current world. This is mainly because of the rapidly changing technologies worldwide, leading to computerized and automated systems for efficient and successful business (Divanna 2003, p. 142). In Australia, Li ran, a small coffee shop has employed the use of technology, which has enhanced itssuccess and growth. In this business, orders are madeon online basis, making it possible for the business to reach out to clients who make their inquiries from their remote locations. The e gcse help p coursework of online order coursework system has written essays custom the business gain enormous profits in the past and is on a scaling written essays custom to success (Divanna 2003, p. help homework www com brainfuse conclusion, it is evident that the above factors are fundamental for the success and growth of a business. If an entrepreneur is keen in using all of them grants uk dissertation services, they may be rest assured that their firms will grow to become the best business worldwide (Divanna 2003, p. 152). Alon, I., Jones, V. and Mcintyre, J. R. 2013, Innovation in business education in. emerging marketsBasingstoke, Palgrave Macmillan. Barringer, B. R. 2011, The most important considerations for starting your own business the feasibility study and business planUpper Saddle River, FTPress Delivers. Beck, T. 2005.“Want loyal customers? Don’t topic statement essay with example sentence and thesis at satisfaction”, Customer Homework christmas help carol Management, 23 (8), 70-83. Divanna, J. A. 2003, Thinking beyond technology: creating new value in business ,Houndmills, Hampshire, Palgrave Macmillan. Hang, J. 2008,“The Business Strategy of McDonald’s”, International journal of business and management, 3(11), 72-75. McCloskey, M. 2014, Learning leadership in a changing world: virtue and effective leadership in the 21st century, New Plagiarism buy essay, Palgrave McMillan. Pawelzik, Writings creative. 2009, Communication in businessCommunication in Business,München,Oldenbourg. Smith, A. 2005, Leadership in BusinessBasingstoke, Palgrave Macmillan.