Brings out latent talent: While funding entrepreneurs, the venture capital institutions give more thrust to potential talent of the borrower which helps in the growth of the borrowing concern. 5. Promoting exports: The Venture capital institution encourages export oriented units because of which there is more foreign exchange earnings of the country which improves the country’s standards 6. As Catalyst: A venture capital institution acts as more as a catalyst in improving the financial and managerial talents of the borrowing concern. The borrowing concerns will be more keen to become self dependent and will take necessary measures to repay the loan.
How capital and labor are combined is central to how much output is produced. To increase the output with given inputs, productivity needs to increase through innovations. Innovations are often brought to the market and diffused through the economy by young entrepreneurial firms. New smaller firms often choose more risky product introduction strategies compared with more established firms. They fail more often, but they also successfully bring riskier high-impact innovations to the market more
However, another aspect believes that entrepreneurship has a positive effect on the creation of job opportunities, which thus decreases unemployment rate. Entrepreneurship is also able to improve an economy through the actual products, services and technology that is introduces into a market. These new ideas boost economic growth. Innovation also creates a sense of competition within the market, which allows for the entrepreneurs involved to become creative under pressure. Competition is necessary in order to encourage either existing, or new entrepreneurs to constantly grow and improve, which once again improves the economic situation.
It still needs discussion whether being more connected and more faster is always good for us in terms of our focus and productivity. Smartphones have enabled many things that have previously been impossible, but this does not necessarily mean that they also make humans more productive. Ironically, that we can do so many things with smartphones can disturb our concentration, rather than help us, at least when we are working. By taking back our lost productivity from smartphones, we will be able to help irrational ourselves be better, more focusing and more productive ones. This change will not only make individuals improve but also contribute to company and further to society, as total amount of wasted time decreases.
‘’As entrepreneurs, our businesses are so much more than a job – they’re almost like our children, and extensions of our identities. That gives us drive and passion to take on risks and achieve wonderful things’’  To relocate your manufacturing may increase risks for failures but may also mean that it is a success leading to increase in market
It´s important to remember that disruption is positive for the mass-market and are innovations that make products and services more accessible and affordable, thereby making them available to a much larger population. When we look at the full extent of Xiaomi´s business model, we can clearly see how different and how disruptive it is. How does Xiaomi keep their prices at least 60% lower than their competitors? While Apple need to come up with a new model to maintain their high profits, Xiaomi have found a clever way to reach these profits without overserve the market with smartphones. For Xiaomi to sell high-end smartphones at such cost, Xiaomi keeps their models
This is where the business cycle is relevant. The business cycle is how our individual businesses contributes to the economy by buying and selling scarce resources. Businesses have to employ people and to manufacture resources and then sell them to make money and make profit which boost our economic growth. Economic growth is most important as it tells how ones’ economy of a country stand ad its GDP to classify whether the country is a developing or a developed country. Business are what determines whether the business is making profit or not which later contributes to economic growth of a country.
Globalization is a small term after all, but has a broader definition acting as a catalyst to progress and growth transforming the world in general. The concept of globalization is not something new for most of the people as this is gaining momentum in today’s era. Globalization has resulted in interrelation and assimilation between world economies and business. Globalization in general has a significant role in advancements of a country and improving the lifestyle of people. In the business world, the benefits of globalization are not just limited to profit maximization, but also provide other advantages equipping business to carve a niche for itself in today’s highly competitive market.
It also supports the open source systems, unlike Apple which strongly protects its proprietary and closed system. It has aggressively offered ‘MiUI’ which lets users customizing their own user-experience with unparalleled flexibility. Its technology allows users more freedom than Apple’s iOS or even the standard Android handsets. Thus, Xiaomi capitalizes on user innovation, which is one of the main factors that drives its fortune. • Since smartphone market is saturated with Samsung/Apple technology, people always tend to look for new things.
CHAPTER-III CONCEPTUAL BACKGROUND OF THE STYDY 3.1 Introduction The word “Entrepreneur” is derived from the French language that refers to a person who undertakes and operates a new business enterprise, and assumes some liability for the inherent risks. Being an entrepreneur is about taking risks and face up to many challenges. An entrepreneur can build new companies. They can also entrepreneurs take many challenges in the field, the entrepreneurs to meet certain and uncertain problems. Usually anyone who runs the business is called up youth entrepreneurs.