Entrepreneurship

Entrepreneurship - Otta.com

Introduction

Entrepreneurship

Entrepreneurship is one of the prerequisite of development. There is a great role of entrepreneurship to bring change in the human lifestyle and activities. As it contributes greatly in the development of nation economy, it is necessary to motivate every citizen for the development of entrepreneurship. The term "Entrepreneurship" is developed for Entrepreneur.

Entrepreneur

Entrepreneur is someone who organizes and manages any enterprise, especially a business, usually with considerable imitative and risk. It means the owner or manager of a business, enterprise who, by risk and initiative, attempts to make profits. An entrepreneur searches the new opportunities, adopts new technique, identifies resources, accept the risk, reform in the management and organization and invents for earning profit.

Qualities of successful entrepreneurs

Success business person have many qualities in common with one another. Here are some qualities of the successful entrepreneurs.

1. Competitive: Entrepreneurs know that they can do a job better than another. They need to win the sports they play and need to win at the business that they create.

2. Confidence: They are confident with the knowledge that they will make their business succeed. They entrepreneurs do not ask questions about whether they can succeed or whether they are worthy of success.

3. Determination: Entrepreneurs are not frustrated by their defeats. They look at defeat as an opportunity for success. Successful entrepreneur do not believe that something cannot be done.

4. Discipline: Successful entrepreneur are disciplined enough to take step every day toward the achievement of their objectives.

5. Open Minded: Entrepreneurs realize that every event and situation is a business opportunity. They have the ability to look at everything around them and focus it toward their goals.

6. Passion: Passion is the most important quality of the successful entrepreneur. They genuinely love their work. The successful entrepreneurs always read and research ways to make the business better.

7. Self Starter: Entrepreneurs known that if something need to be done, they should start it themselves. They are proactive, not waiting for someone to give them permission.

8. Strong communication skills: The entrepreneurs have strong communication skills to sell the product and motivate employees. They are very good at highlighting the benefits of any situation and coaching others to their success.

The capacity and willingness to develop, organize and manage a business enterprise along with any of its risk in order to make a profit is know as entrepreneurship. The most understandable example of entrepreneurship is the starting of new business. In short, entrepreneurship is the activity and effort to be an entrepreneur.

Benefit of Entrepreneurship

1. Increase in production: It increase the economic activities, develops the human resources and mean. It also collects the saving in the society and mobilizes it in the necessary field.

2. Improvement in the quality of product: A good entrepreneur uses new ideas and strategies for the production of quality product so that his/her product can get the good market. It results in the improvement in the quality of product.

4. Means of change: The entrepreneurs implement new concept and visions. They bring some changes in the product which ultimately brings changes in the country.

4. Increase of capital: The development of entrepreneurship increase the economic activities in the country. People involve in the different self-employment schemes. As a result, income of people increase and it helps in the increment of capital.

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