Sunday, September 1, 2013

Entrepreneurship; what is it?

ENTREPRENEURSHIP

First we understand what is entrepreneur?

although no single definition exist for entrepreneur and no one profile can represent today's entrepreneur, research is providing an increasingly sharper focus on the subject. so An entrepreneur as an Innovator who carries out new combination to initiate the process of economic development through introduction of new products, new markets, conquest of new sources of raw material and establishment of an new organization of industry. 

The characteristics of   entrepreneur are:-

1) He has got strong desire to achieve higher goals.
2) He should have a clear objectives as to the exact nature of the goods to be produce and subsidiaries activities to be taken..
3)An entrepreneur must be reasonably intelligent and should have creative thinking and must be able to engage in the analysis of various problems and situations in order to deal with them.
4) An entrepreneur are always positive in their actions.
5) start- up  entrepreneurs face uncertainty compounded by constant changes that introduce ambiguity and stress in to every aspect of the enterprise.

NOW we come to know about Entrepreneurship?

Entrepreneurship  is the process of  creating something new with values by devoting the necessary time and efforts, assuming the accompanying financial, psychic, and social risk, and receiving the resulting rewards of monetary and personal satisfaction and independence.

The characteristics of   Entrepreneurship are:-

1)  Entrepreneurship is a creative activity. it means doing something new or something different and creative.
2) Entrepreneurship exist under conditions of risk and uncertainty. the two are not same RISK refers to the variability of outcomes ( or returns). and UNCERTAINTY refers to the confidence. so it means Entrepreneurship  learning from mistakes and failures .
3) activity of Decision Making.
4) Entrepreneurship is a process of Motivation.
5) Entrepreneurship is the crux of Leadership.

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