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Zara's Entrepreneurship Theory Essay

1847 Words8 Pages

Entrepreneurship is the result of multifaceted balancing of reward, risk and opportunities. It is a process in which people avail opportunities with help of innovative ideas to fulfil the needs and wants. Entrepreneurial resources are key elements for every developing economy. The entrepreneurial process facilitates economy in industrialization by generating employment and capital. This process plays an important role in increasing the productivity by innovation and especially in redistribution of income and wealth by promoting the social welfare. Sufficient knowledge is one of the major factors in entrepreneurship growth. Different types of problems are also attached with Entrepreneurs like, lake of proper market knowledge and importance of key people which involved in this entrepreneurial process. The gathering process of such type of knowledge is not easy and cheap task. For this purpose effective communication must be established between sellers, buyers and other stake holders. Entrepreneurship theories Now days there are a number of entrepreneurship theories introduced for the improvement of entrepreneurship, almost from every perspective. So, I tried to find out the demerits and merits of these theories. These theories are discussed below- Cantillon's theory (1755): The theory doesn’t asses the entrepreneur as a factor …show more content…

Zara has always differentiated itself in minds of customers and they also differentiate their activities from their competitors on basis of supply chain management. Their process of supply chain is very fine that it is very difficult for competitors to imitate, this management help them a lot in maintain and achieving differentiation. Zara also give franchises to others and make some joint ventures but very less, their 90% of stores are company owned. They give same environment to their customers in every store and in every

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