nature of entrepreneurship
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NATURE OF ENTREPRENEURSHIP
XOPHIA MONTAWAL
ENTREPRENEUR:
"Entrepreneur as a person who only provides capital with out taking active part is the leading role is the enterprise".
-Adam Smith
“A person who is able to look at the environment, identify opportunities to improve the environment, mar shall resources, and implement action to maximize those opportunities”.
-Prof. Robert Nelson
ENTREPRENEUR:
A person who sets up a business of businesses, taking financial risk is the hope of profit.
ENTREPRENEURSHIP:
According to Heggins " Entrepreneurship is meant that function of seeking investment and production opportunity organizing and enterprise to undertake a new production process, raising capital, having labor, arranging the supply of raw materials, finding site and selecting to managers of day-to-day operations.
ENTREPRENEURSHIP:
"Entrepreneurship is essentially a creations activity it consists of doing such things are generally not done in ordinary course of business".
- JOSPH SCHEM PETER
NATURE OF ENTREPRENEURSHIP:
It is an Multi-dimensional concept. Entrepreneurship as an economic
activity emerge and functions
in Socio-economic and
cultured settings.
ENTREPRENEURSHIP FEATURES:
• Management skills : Leadership/Handling & involving risk & uncertain.
• High achievement : Targer based
• Decision Making :
• Risk bearing capacity :
No. of times
• Innovations :
ENTREPRENEUR'S COMPETENCIES:1. Risk taking :
2. Networking : key business
activities/ planning
3. Commercial Aptitude : update
developments/best practices
4. Integrity : values/business decisions
5. Optimism : working hope of success
6. Strategic Planning :
7. Fresh Approaches :
8. Confident :
ENTREPRENEUR ATTITUDES:
1.Capacity and willingness to assume risk
2.Willing to hardwork and be always tenacious
3.Vision and foresightedness
4.Creative and imaginative thinking and innovative
5.Willingness to adopt to change
6.High degree of ambition
7.Total commitment and determination
8.Prompt and sound decision making
9.Ability to organization and administration
10.A long-term vision of the future of your business
ENTREPRENUERSHIP QUALITIES:
1.Initiation
2.Watching for opportunities
3.Persistence
4.Information seeker
5.Qualities conscious
6.Commitment to work
7.Efficient lover
8.Proper planning
9.Eager to learn
10.Patient
11.positive thinking
12.Self Determination
13.Self motivation
FUNCTION OF ENTREPRENEUR:
1.INNOVATION
2.RISK BEARING
3.UNCERTAINTY
4.ORGANIZATION BUILDING
5.PERCEIVING MARKET OPPOTUNITIES
6.PURCHASE INPUTS
7.MARKETING THE PRODUCTS
8.DEALING WITH DBUREAUCRATS
9.MANAGING HUMAN RELATIONS WITHIN THE FIRM
10. INDUSTRIAL ENGINEERING
THE END