1.

Introduction
Entrepreneurship can be recognised as method or actions for the starting a business entity
that is more likely to be a start-up enterprise that provides products of creativity and innovative
services processes. Peter Drucker defined that innovation is considered as essential tool for
promoting entrepreneurship. Further, innovation and entrepreneurship demands creativity
(Edwards-Schechter and et.al 2015). Creativity can be considered as procedure through which a
symbolic domain within culture is transformed. It is an ability to create or otherwise generating
new product, solution to a problem, a new method or device or an artistic form. Further,
innovation involves development of new concept or ideas to redevelopment of existing product
or service. It can be realised as successful exploitation of new ideas. All innovation begins with
new creative ideas and therefore it is a starting point for innovation. This report aims to analyse
the statement “entrepreneurship is an essential approach for guarantee rewards and creates new
ideas that effect in people life” with examples.
2. Body
The entrepreneurship approach involves the ideas that involve individuals with exclusive
behaviour, features and skills (Krishna and Swathi, 2013). Creativity and creative thinking of an
entrepreneur inspire ideas and these essential ideas inspire change. Both these components are
very essential aspects of any business, especially entrepreneurship (Kabukcu, 2015). Specific
traits are required in individuals for starting own entrepreneurial business. David and Simon
Reuben are the best example of entrepreneur who have attained success from their skills and
characteristics towards starting own business. Entrepreneurial ideas and creative thinking is
essential element of success in business. Appropriate market research and evaluation of
consumer requirements are essential for starting a new business. Reuben brothers are the top
most in the list of UK’s wealthiest entrepreneur in present scenario and both of them are self-
made billionaires from several diversified nations (Zhou, 2015). David started business of scrap
metal trading, while Brother Simon purchased old carpet company after working for years in
carpet sector. With specific traits like negotiation, quick learning, communication, problem
solving and other individual attributes they become successful in their every business plan. They
invested their earnings in these businesses to invest in property and other raw material business
example aluminium, copper and other start-up business. David scrap material business was an

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innovative idea from which they have earned large sum of money without more investment
(Fadaee and Abd Alzahrh, 2014).
Entrepreneurship is essential because it involves capability of improving the standard of living
and creating capital for individuals and other related stakeholders. Individuals with
entrepreneurial mind-set in organization get more responsibilities and accountabilities at
workplace. Management usually consider them as drivers of change in products and services
which helps in completing market demand. Entrepreneurs are usually recognised as national
assets that need to be refined, motivated and remunerated towards the greatest possible extent.
They usually change the way individual’s live and work (Hisrich, Peters and Shepherd, 2017).
When their innovative ideas become successful, their revolutions usually improve the standards
of living. For example, Steve Jobs greatest innovation in the field of technology and generating
new Apple IPhone was an important contribution towards entrepreneurship. Their innovative
ideas, thoughts and beliefs have changed the way of thinking and provide an extensive growth to
Apple Inc. Smartphones around the world. With new and innovative technology, Apple Inc.
continuously and successful completed the demand of commercial enterprises with their safety
and innovative features of electronic products (Pisanu and Menapace, 2014). In addition with
creating wealth for entrepreneurial ventures, start-ups established by entrepreneur also create job
opportunities and conditions for flourishing community. Similarly, Mark Zuckerberg, a young
entrepreneur is also known for its continuous social media platform, Facebook that was first
designed by entrepreneur as social media for chatting but it has known become a huge platform
with millions of subscribers around the world.
Being an entrepreneur includes a high degree of risk and uncertainty however, it also
leads to highly rewarding experience. Entrepreneurship provides positive impacts on people life
as it emphasizes financial development of public, nurtures originality, inspires revolution and
competence, generates new occupations and work chances, resolves the difficulties of people and
cheers well-being of the public (Dawson and Andriopoulos, 2014). Society also plays essential
part in increasing entrepreneurship by making wants and stresses, providing raw materials,
enabling monetary assistance, generates a requirement for teaching, improves the strategy
development and reforms, enables interacting and support growth of infrastructure. Similarly,
social entrepreneurs provide positive effect on people life. There are various fruitful community
enterprises within UK providing it is likely to balance community and environmental targets

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with revolving a sustainable profitability. For example:” Change please” coffee shop on wheels
started by Cemal Ezel for serving coffee exclusively for London’s homeless people. This
business employs and trains homeless persons to be baristas, helps in providing training and also
support in earning livelihood.
Thus, it can be said that entrepreneurship provides support generating guarantee rewards and
creates new ideas for improvement of people life.
3. CONCLUSION
Entrepreneur is those individuals who establish their own business and
usually takes risks on their own money to start new business. Entrepreneurship
approach is analysed as multi-dimensional course of actions that depends upon the
imagination, initiatives, innovation and motivating attitudes as specific dimension
which is prepared to resolve the problems evolved within external environment
after analysing its overall segmental viability and it has been undertaken to reach
the desired target in specific domain. Entrepreneurship and innovation both are
interlinked with each other because it is not possible any individuals to start a
business or develop unique ideas without creative mind-set or thinking.
Entrepreneurship approach helps in generating rewards life profitability,
confidence, recognition, promotion, changes in lifestyle and also helps in business
expansion. Examples such as David and Simon Reuben brothers provide
understanding the individuals characteristics and traits are important for
establishing new business and attaining growth.

3
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Fadaee, A. and Abd Alzahrh, H.O., 2014. Explaining the relationship between creativity,
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