Entrepreneurship plays a vital role in boosting the economyin modern world, entrepreneurship connects the whole world and nowbusinesses can be virtually developed, Facebook, Watsapp, skype, Amazon, ebay, Tesla,IT, Telecommunications, Artificial intelligence and cryptocurrency are some examples of modern businesses which are developed by entrepreneurialfunction. Such asa) by discovering, analysing and exploiting new businessopportunities b) by brings a new solution to old human problems. Entrepreneurship involves in all organizations irrespectiveof size, or age. Its significance for the economy can be seen as a matter ofinterest for the economic and academic bodies.
The study of entrepreneurship leads us to attempt to answera series of questions such as: What happens when entrepreneurs act? Why do theyact? and How do they act? (Stevenson and Jarillo, 1990). Why, when and how doopportunities for the creation of goods and services come into existence? Why,when and how do some people and not others discover and exploit theseopportunities? And finally, why, when and how are different modes of action used to exploitentrepreneurial opportunities? (Shane and Venkataraman, 2000). All the above traits whencombine together produce an Entrepreneur and leads to the successful businesses. The change is inevitable inmodern world.
The entire world is becoming a global village due to fast growingcommunication technology. The globalization of industry and e-commerce is bringing newbusiness ideas in many aspects of life. There are so many modern businesses developed due to theglobalisation and changing world environment like Microsoft, Apple, Alibaba,Tesla, Amazon, ebay, Telecommunicaiton, Facebook, Whatsapp, Skype etc. All these businesseshas change the entire idea of selling and buying, connectivity, mobility and it emerge as atremendous innovation of human being. All this couldn’t happen without Entrepreneurship. Steve jobs, Chairman and CEOof Apple Inc, has failed many times in his life, he is a college dropout, failed techexecutive, a failed business man but only due to his tremendous entrepreneurship capabilitieshe succeeded in innovating a tremendous technology.
“Ididn’t see it then, but it turned out that getting fired from Apple was thebest thing that could have ever happened to me. Theheaviness of being successful was replacedby the lightness of being a beginner again, less sure about everything. It freedme to enter one of the most creative periods of my life,” Jobs said in the Stanfordcommencement speech.Entrepreneurs keep changingtheir targets as their traits evolved and recognised.
Like Elon Musk, Founder ofTesla, he started from Zip2 then Paypal, space X, Tesla and now many other companies.It suggest that Entrepreneur keep changing his vision and go ahead one afteranother success.Amazon, ebay and Alibaba changedthe concept of buying and selling by using e-commerce.
The entire world nowconnected with each other and can trade easily on- line. This is the opportunityEntrepreneur got and develop their businesses and give world new concept of trade.