1. Adam Smith, the Scottish Father of Economics originally overlooked the concept of entrepreneurs as an integral part of the market. The true materialization of the concept of the entrepreneur is relatively new in the scope of human history, however there have entrepreneurs throughout most all of history after the hunter-gatherer period. Throughout time, men and women have seen the problems or niches in society that they could either benefit from personally or could help aid society through their attempt at solving the problems. An entrepreneur must evaluate the world for opportunities and capitalize on those opportunities in order to be successful. War time is an example of entrepreneurs being able to capitalize on the problems of the world as they became producers of steel for weapons or food for rations. Governmental policies and restrictions can either enhance or stifle entrepreneurial ventures in a society.
2. As an individual, I would say that my lack of experience in business would be the main factor prohibiting my own large scale entrepreneurial venture. However, I do feel confident in my manual labor capabilities as I work around my farm for pay all the time when I am home. I cut grass for my grandmother and receive pay for this job. my experience in the lawn care field does make me feel confident that I could start my own lawn care business. I believe that for a societal factor to influence my entrepreneurial venture, I would have to study the problems in my city at home. Being a textile producing area, I could try to identify problems in the inefficiency in shipping or production and someday capitalize on these deficiencies by creating my own company that would aid the textile industry in my area. As far the current moment goes, I do not see a current societal factor that would drive my entrepreneurial venture.