Concept of Entrepreneurship
The process of creating a new Enterprise is called "entrepreneurship". It is the propensity of the mind to calculate risks with confidence to achieve predetermined business or industrial objectives.
Entrepreneurship may be defined as a process of action an entrepreneur undertakes to establish an enterprise
More specifically, entrepreneurship is a function of
The process of creating a new Enterprise is called "entrepreneurship". It is the propensity of the mind to calculate risks with confidence to achieve predetermined business or industrial objectives.
Entrepreneurship may be defined as a process of action an entrepreneur undertakes to establish an enterprise
More specifically, entrepreneurship is a function of
- foreseeing investment and production opportunity,
- organizing an enterprise to undertake a new production process,
- raising capital, and hiring labour,
- arranging for the supply of raw material, and selecting managers for day-today operations of the enterprise
An individual who bears the risk of operating a business in the face of uncertainty about the future conditions
Characteristics of an entrepreneur
- Creativity
- Innovation
- Dynamism
- Leadership
- Team Building
- Achievement motivation
- Problem solving ability
- Goal orientation
- Risk taking
- Commitment
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