Nature of Entrepreneurship

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