Having a diverse range of ideas to choose from, according to your entrepreneurial vision, you can gain maximum benefit from the ideas you come up with. Entrepreneurship as a career option For any enthusiast in the corporate world, starting your own business may prove to be a remarkable idea. Having control over the work you do is something that many people long for in their career paths. Therefore, entrepreneurship is a great career option for those willing to make their name in the corporate world. Purpose/ Uses of Entrepreneurship Choosing a career path to gain profit for the long haul is the most important reason why people opt for entrepreneurship.
Therefore, as a byproduct of entrepreneurship jobs will be created and national income will increase. Thus as the business moves from a small to medium to a national enterprise the business will employ more individuals. As with anything in the world there’s always problems faced with certain concepts and theories and with entrepreneurship creating more jobs the problems faced are a lack of skills and the high startup failure. The first problem is the lack of skills in the workforce, this makes it really difficult for companies to find skillful and talented employees to meet certain criteria for the position offered. The government has implemented certain policies and recent legalization to improve the skills of the workforce.
Here we list out 10 of the most important qualities an entrepreneur should possess. Practical Being practical is the one of the main skill that entrepreneurs must possess. A successful entrepreneur would need to have the ability to make decisions on business matters with common sense in mind. Common sense allows them to see things that others may not. Their decisions are based on unbiased
Not only this, an entrepreneur also needs a proper business plan for more clarity about what is to be done when. For doing all this, an entrepreneur requires various skills and intentions which are different from others who do not have any intentions of entrepreneurship. The various skills and characteristics of an entrepreneur are the drivers of the decisions taken by the entrepreneurs. Entrepreneurs are dynamic (i.e. adjustable to changes) and flexible in nature.
However more and more business schools and universities have recognized the promising future of entrepreneurship and started to take it seriously as a subject of education and research because researchers tend to link the success to individual characteristics of the entrepreneur, especially when it comes to educational background. Several researches have shown that those who have been to universities are willing to take higher risks by investing more (Reynolds et al., 1994) or hiring more employees (Dietrich, 1999). Thus their achievement in entrepreneurship is positively related to education. Despite the general content of education, those who have taken specific courses defined as “entrepreneurship education and training” (Martin, McNelly & Kay, 2012, p211) in universities have higher willingness (Galloway and Brown, 2002) and likeliness to start their own businesses (e.g. Kolvereid and Moen, 1997) than those who have not.
10 Characteristics of the Best Entrepreneurs Business is full of risks. A good entrepreneur should know to deal with them and how to benefit from them. He also should know the background of his business, be able to analyze success and failure cases, and learn from his own mistakes. He should even know how to write posts for product blog! Of course, this understanding comes with experience.
HAPTER - II REVIEW OF LITERATURE A. Peter (2004) in his book Youth Entrepreneurship Everywhere explains youth entrepreneurship as a process of turning ideas into opportunities and opportunities into successful businesses through the practical application of one-to-one mentoring model, entrepreneurship awareness-building skills, personal empowerment skills, entrepreneurial/enterprise skills, business planning skills, business management skills, support services availing skills and business improvement skills. Annapurna (2002) observed that the sickness was a product of low level of entrepreneurship, absence of facilitating environment and disorganized project evaluation process of credit institution. The study pointed out that carelessness
It is not difficult to figure out the huge success the company achieves. Entrepreneurial process is very important for entrepreneurship. During the entrepreneurial process, entrepreneurs are asked to answer questions about opportunities, strategies, goals and role. To set the right pace, entrepreneurs must consider many factors, such as economics of
Sometimes, entrepreneur believe in themselves and confident to their idea. They always very stubborn and focus on their own idea. But it always lead entrepreneur to achieve their goal due to its demonstrated discipline and dedication to their business. Besides, entrepreneur needs to have the confidence to compete with the opponent, the confidence to deliver the best and the confidence to succeed. With this characteristic of entrepreneur, confidence is the only way to success in the start-up business.
Entrepreneurship is a key for the sustainable growth of the economy and the society. It is necessary to cultivate and infuse the culture of entrepreneurship among the prospective workforce in order to fuel the industrial growth of the nation. While developing the entrepreneurial culture, the necessity for the quality in services and business ethics should also be insisted. Entrepreneurial skills are the rejuvenators of economic development and industrialized economy. As the gender gap reduces, the women also need to play a significant role in entrepreneurship.