Entrepreneurship----Economists views on the innovation and Essay

Entrepreneurship----Economists views on the innovation and entrepreneurship - Essay Example market, of determining opportunities, optimizing potential ventures or partnership, strategizing decision-making capabilities, improving communication skills, developing good interpersonal relation with customers, and in attaining business intelligence (Carter & Jones-Evans, 2006, pp, 1-10; 129-151). Expert entrepreneurs are observed to have adopted some business patterns and have gain expertise in organizational planning, executing, selecting human resources, performance management, evaluation, and in doing excellent market analysis (Carter & Jones-Evans, 2006, pp. 152-175). They constantly update themselves on trends and readily adapt to changes to leverage itself from every opportunities. Entrepreneurs also study business laws and policies made by legislatures to ascertain that they are able to adhere to or recommend measures to enhance business chances. They too are incisive about the kind of analysis and scheme they’d packaged depending on situational context from a rapid ly evolving market (Carter & Jones-Evans, 2006, pp. 152-175). They are expert on researching and studying economic forecasts as well. It’s this need to sustain the learning process that entrepreneurs often take metacognitive decision-making about his/her interrelationship with clients and customer while recognizing too the limiting factors by reflecting and understanding the varied controls in customer and client relations (Mitchell, Smith, Gustafsson, & Mitchell, 2006, pp. 5-12). Innovations set in. As observed globally, entrepreneurs increased their efficacy by adapting the use of technology as tool to hasten distinction in production and in marketing goods (Deakin & Freel, 2003, pp. 1-35). Unlike before when market is limited in established public facilities for vendors, entrepreneurs now reach out clients and customers in the households using internet or web-based connections. Modes of payments are also transacted via automated machines or electronic transfers (Deakin & Freel,