Essay About Economist Joseph Alois Schumpeter And Business Activities

Entreprenuer Interview
An entrepreneur is Someone who exercises initiative by organizing a venture to take benefit of an opportunity and, as the decision maker, decides what, how, and how much of a good or service will be produced. An entrepreneur supplies risk capital as a risk taker, and monitors and controls the business activities. The entrepreneur is usually a sole proprietor, a partner, or the one who owns the majority of shares in an incorporated venture. According to economist Joseph Alois Schumpeter (1883-1950), entrepreneurs are not necessarily motivated by profit but regard it as a standard for measuring achievement or success. Schumpeter discovered that they–Greatly value self-reliance,Strive for distinction through excellenceAre highly optimistic (otherwise nothing would be undertaken) and Always favor challenges of medium risk (neither too easy, nor ruinous).Background of the BusinessI have found a new business in my area which is in Nikunja 02, Khilkhet, Dhaka. It has started operating from last year. It is and entrepreneurial initiative from a person. He  runs the business by himself with the help of two employees. It is a small store on the second street of nikunja 2. Its called “Bistro Burger”. He was previously employed in a partnership business with another restaurant at Uttar. He was in a good relationship with that owner as a colleague but he felt like starting his own business. Since, he lives at nikunja 2, he found out  that a new shop space has been opened and after talking to the owner he found that he could afford the place to operate his own business. So he quitted from his previous job, withdrew whatever he saved for last few years and started operating. He named his shop “Bistro Burger” because he wanted his unique selling proposition should be burger. Within few months of operation, he gained customer who regularly eats there. Along with burger it has other fast food item on the menu but mostly “jumbo burger” is the best seller.I have asked some questions to him about him and his new business idea and the information I have found are given below:Owner’s name: Mr. Rezaul AlamBusiness name: Bistro BurgerBusiness type: Fast food shopAdress: House no 12, Road 2,  Nikunja 2.Business type: Sole-proprietorship BusinessQuestionnaireHow did you get the idea to start your business?Ans: I was employed in a restaurant at Uttara and I always wanted to own a business of my own. Since, I worked in a restaurant I learned a few things about running a fast food shop. I don’t have much understanding of other business. When I saw this shop space is available and I found out that I could afford it to run a small fast food shop, I immediately put all of my effort here.