Understanding Of Entrepreneurship And Entrepreneurs
People who think and act independently, take on risk and are open to change. Entrepreneurs are risk-takers. Entrepreneurs are people who want to be independent and start their own business.
One of my best friends is a small-businessman. After receiving training from Youth Development Center, he opened his own poultry business. He leases small land from the local authority. Next, he borrowed 15 lacks from a bank within the SME loan section. He found cheap chicken suppliers and entered into a contract for the supply of chicks with them. He finally found a reliable source that would provide him with the chicks and eggs at an affordable price. He arranges for chicken medicines to be provided for them. He hires employees to manage the business. After some time, all of his bank loan debt is paid off and he makes a nice amount of net income. He is now planning to expand the business and open a new branch. 2. How does course literature define entrepreneurship?According to Venkataraman “Entrepreneurship is the field involved the study of sources of opportunity; the processes of discovery evaluation and exploitation of opportunities; and the set of individuals who discover, evaluate and exploit them” “Societal entrepreneurship’ as a concept that emphasizes the need for enterprising people in all sectors and corners of contemporary society. Societal entrepreneurship is defined as the ability to recognize entrepreneuring in mundane, everyday life and capture pioneering movements worldwide and explain how they change. Our goal is to create an environment that encourages entrepreneurship and breaks with practices that hinder the development of a sustainable community.
“Social entrepreneurs have become an interdisciplinarious endeavor that incorporates the fields business, psychology, organization development, and sociology. But, such multiplication presents a challenge in creating a more integrated framework. Nicholas and Cho were together.
This research has helped me to understand and see entrepreneurship as the practice and way that entrepreneurs plan, launch, and run their non-profit or profit businesses. Entrepreneurship is a way of life that has existed since human history. It has been used by people to create better worlds. Entrepreneurship encompasses all areas (social, economic, and environmental). Entrepreneurs can use this process to spark their innovative ideas. Entrepreneurship allows an individual to create new jobs and develop the country through their entrepreneurial skills.
The entrepreneur has a unique view and understanding of society. Most entrepreneurs start their businesses with uncertain results. A successful entrepreneur is able to turn that uncertainty into tangible results after a period. Entrepreneurs are willing to take risks, work hard, and are more motivated than ever. Prior to researching, I thought that entrepreneurs only worked in the business market. Now, I see that an entrepreneur can work in any sector. An entrepreneur is someone who has an extraordinary idea and makes the world better.
ConclusionEntrepreneurship is the process of innovation changing the world and an entrepreneur is a person or a group of people chosen through the process to change the world. It involves the social aspects and the willingness to make changes in society. It’s the combination of existing methods with innovative approaches to change.
