ELEMENTS OF ENTREPRENEURSHIP
ENTREPRENEUR:
As per Oxford Dictionary ‘Entrepreneur’ is a noun,
Entrepreneur is a person who makes money by starting or running businesses, especially when this involves taking financial risks.
ENTREPRENEURSHIP:
As per Oxford Dictionary ‘Entrepreneurship’ is a noun,
The activity of setting up a business or businesses, taking on financial risks in the hope of profit.
‘The new business opportunities have encouraged entrepreneurship on a grand scale’.
NOTE;
Without financial profit entrepreneur cannot manage an Enterprise, otherwise Entrepreneurship will vanish...
ELEMENTS OF ENTREPRENEURSHIP
Foremost element of Entrepreneurship is desire to earn money for the cause of self or society.Without materialistic desire thinking of establishing an Enterprise will be a difficult task.
Desire leads to ambition if ambitions are positive and strong, hope will also be very high.Hence an Entrepreneur keeps high desire and high hope for achievements.
Positive hope leads to Risk bearing tendency. Risk bearing tendency causes higher ability and more self confidence which leads to high focus for achieving the desire result.
Above three elements leads to final element of Entrepreneurship which is New Ideas with Innovations.
There are two words Creativity and Innovation, while Creativity is conceiving something new, Innovation is doing something new. Ideas will be fruitless if they do not get converted into product or services which are conceived.
Generally above qualities are there in normal human being but only few make use of it. General public remain fruitless, because of tendency for getting something desired with little efforts.
IF IN SOCIETY ENTREPRENEURSHIP TENDENCY IS PROMOTED FOR ADOPTING RIGHT PATH THAN ECONOMY OF THE WORLD WILL ACHIEVE NEW HEIGHTS OF GROWTH WHICH INTERN WILL RESULT IN REDUCTION OF POVERTY AND IMPROVEMENT OF HAPPINESS IN SOCIETY.
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