Factors impacting emergence of Entrepreneurship Various researchers world over have identified the factors that contribute to the development of entrepreneurship. Economists agree that the lack of entrepreneurs is not caused by economic conditions alone. It is also due to the whole set of socio-cultural and institutional environment prevailing in the less developed countries. Various […]
Functions of an Entrepreneur The important functions performed by an entrepreneur are listed below: 1. Innovation An entrepreneur is basically an innovator who tries to develop new technology, products, markets, etc. Innovation may involve doing new things or doing existing things differently. An entrepreneur uses his creative faculties to do new things and exploit […]
Types of Entrepreneurs The various types or entrepreneur are classified as under: (1) According to the Type of Business: (i) Business entrepreneur Business entrepreneurs are those entrepreneurs who conceive the idea of a new product or service and then translate their ideas into reality. Entrepreneur examines the various possibilities of sources of finance, supply of labor, […]
Factors affecting Entrepreneurship Entrepreneurship is a complex phenomenon influenced by the interplay of a wide variety of factors. The entrepreneurial activity at any time is dependent upon a complex and varying combination of economic, social, political, psychological and other factors. These factors may have been both positive and negative effluences on the emergence of […]
Entrepreneurs Definitions “Entrepreneurs are people who have the ability to see and evaluate business opportunities,together with the necessary resources to take advantage of them and to intimate appropriate action to ensure success.” -International Labor Organization Entrepreneur searches for change,responds to it and exploits opportunities.Innovation is the specific tool of an entrepreneur. -Peter F. Drucker […]
Importance of Entrepreneurship Entrepreneurship offers the following benefits: 1. Development of managerial capabilities The biggest significance of entrepreneurship lies in the fact that it helps in identifying and developing managerial capabilities of entrepreneurs. An entrepreneur studies a problem, identifies its alternatives, compares the alternatives in terms of cost and benefits implications, and finally chooses […]
Entrepreneur Vs. Entrepreneurship Entrepreneur Entrepreneurship Entrepreneur is a person. Entrepreneurship is a process. Entrepreneur is an organizer. Entrepreneurship is an organization. Entrepreneur is an innovator. Entrepreneurship is an innovation. Entrepreneur is a risk bearer. Entrepreneurship is risk bearing. Entrepreneur is a motivator. Entrepreneurship is motivation. Entrepreneur is a creator. Entrepreneurship is a creation. Entrepreneur […]
Difference between an Entrepreneur and a Manager Basis of Difference Entrepreneur Manager 1. Motive The main motive of an entrepreneur is to start a venture by setting up an enterprise. But, the main motive of a manager is to render his services in an enterprise already set up by someone else i.e., entrepreneur. 2. […]
Difference between Entrepreneur and Intrapreneur Entrepreneur Intrapreneur An entrepreneur is independent in his operations An intraprenuer is dependent on the entrepreneur i.e. the owner. An entrepreneur himself raises funds required for the enterprise. The Intrapreneur does not raise funds. Entrepreneur bears the risk involved in the business. An intrapreneur does not fully bear the […]
Entrepreneurship The word “entrepreneur” is derived from the French verb “entreprendre”, which means ‘to undertake’. This refers to those who “undertake” the risk of new enterprises. An enterprise is created by an entrepreneur. The process of creation is called “entrepreneurship”. Meaning Entrepreneurship is a process of actions of an entrepreneur who is a person […]
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