Management of Entrepreneurial the Specialized Term Paper

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The importance of training is as such crucial for all professional individuals, but even more so for those who intend to launch a new venture on their own. At a generic level, the training programs would generate the same benefits for the entrepreneur as well as for the average organizational managers. As a parenthesis, the average organizational manager is understood as the individual occupying a managerial position within a company or even a corporation, and being paid by the respective entity to assume the role and responsibility of organizational manager.

Nevertheless, aside from the traditional aspect and importance of training the manager, the individual who launches a new venture is in a more imperative need of training. And this situation is the result of various particularities of the new entrepreneur, such as the following:

The new entrepreneur is often confronted with more severe resource limitations than the corporate manager.

The new entrepreneur may have centralized the life savings and all available resources in the venture, meaning as such that the risks he faces are more severe and more damaging.

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The new entrepreneur often single-handedly plays the role of CEO, CFO, resource manager, human resource manager and so on. But their traditional expertise in all of these fields concomitantly would be restricted. This once again reveals the need for sustained training programs.

The entrepreneur would be faced with the need to run the new venture through multifold lenses, such as the organizational needs, capabilities and restrictions; the features of the customers -- such as purchasing powers and demands -- or the features of the industry in which the company operates.

All the above mentioned particularities once again testify to the fact that the entrepreneur of a new venture is in dire need of training programs. On the one hand, this need and importance for training is the result of managerial pressures, but on the other hand, the need is born out of the contextual pressures of launching a new venture......

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