Characteristics Of Entrepreneurship
Entrepreneurship is the capacity and willingness to develop, organise and manage a business venture along with any of its risk in order to make profit. Entrepreneurship is much broader than the creation of a new business venture . Entrepreneurship is both the investigation of how new organizations are made and additionally the genuine procedure of beginning another business – the term is utilized reciprocally.
Entrepreneurs are the one who takes on idea, develop a business around it, manage the business and assumes the risk for its strength .Entrepreneurs need to be sometime effectuate, be cognitively adoptable and learn from failure. An entrepreneur motivation is not simply from personal profit but also from loyalty to products, loyalty to market and customers personal grow, and they need to prove themselves
• Characteristic of successful entrepreneurs Entrepreneurs need to be able to deal with obstacles, they are risk takers .They have the ability to overcome hardship, failure is not an option for them. They are passionate towards their task and are highly motivated .They believe in themselves and are confident and dedicated to their project. Entrepreneurs are action orientated and are multi skilled.
Ventures The appropriate legal and organisational format used to establish new venture vary according to many factors such as context ,legal and tax consequences ,legal and cultural norms and organizational and legal forms that entrepreneurs employ
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