Scribd
Upload
4K views18 pages

Nature and Scope of Entrepreneur: By: Jayna A. Limalan Beed-Lll

This document discusses the nature and scope of entrepreneurship. It provides definitions of entrepreneurship from several scholars, highlighting that an entrepreneur takes on risk by organizing and launching a new business venture. The document also discusses the features of entrepreneurship like management skills, risk-taking ability, and innovation. It outlines the competencies, attitudes, qualities and functions of successful entrepreneurs. Finally, it explores the scope of entrepreneurship beyond just business creation and how entrepreneurship can stimulate economic and societal change.

Uploaded by

Haf Sah
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
4K views18 pages

Nature and Scope of Entrepreneur: By: Jayna A. Limalan Beed-Lll

This document discusses the nature and scope of entrepreneurship. It provides definitions of entrepreneurship from several scholars, highlighting that an entrepreneur takes on risk by organizing and launching a new business venture. The document also discusses the features of entrepreneurship like management skills, risk-taking ability, and innovation. It outlines the competencies, attitudes, qualities and functions of successful entrepreneurs. Finally, it explores the scope of entrepreneurship beyond just business creation and how entrepreneurship can stimulate economic and societal change.

Uploaded by

Haf Sah
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 18

NATURE

AND SCOPE OF
ENTREPRENEUR
By: Jayna A. Limalan
Beed-lll
ENTREPRENEUR:
"Entrepreneur as a person who only provides capital
Without taking active part is the leading role is the
enterprise".
-Adam Smith

“A person who is able to look at the environment,


identify opportunities to improve the environment, mar shall
resources, and implement action to maximize those
opportunities”.
-Prof. Robert Nelson
ENTREPRENEUR:
A person who sets up a business of
businesses, taking financial risk is the hope
of profit.

ENTREPRENEURSHIP:
According to Heggins " Entrepreneurship is meant that
function of seeking investment and production opportunity
organizing and enterprise to undertake a new production
process, raising capital, having labor, arranging the supply of
raw materials, finding site and selecting to managers of day-
today operations.
ENTREPRENEURSHIP:
"Entrepreneurship is essentially a creation
activity it consists of doing such things are generally
not done in ordinary course of business".
- JOSPH SCHEM PETER
NATURE OF
ENTREPRENEURSHIP:
It is a Multi-dimensional concept.
Entrepreneurship
as an economic
activity emerge and
functions in Socio-
economic and
cultured settings.
ENTREPRENEURSHIP FEATURES:
• Management skills: Leadership/Handling &
involving risk & uncertain.
• High achievement: Target based
• Decision Making:
• Risk bearing
capacity: No. of
times
• Innovations:
ENTREPRENEUR'S COMPETENCIES:

1. Risk taking:
2 . Networking: key business
activities / planning
3 . Commercial Aptitude : update
developments/best Practices
4.Integrity: values/business decisions
5. Optimism: working hope of success
6. Strategic Planning:
7. Fresh Approaches:
8. Confident:
ENTREPRENEUR ATTITUDES:
1.Capacity and willingness to assume risk
2.Willing to hard work and be always tenacious
3.Vision and foresightedness
4.Creative and imaginative thinking and innovative
5.Willingness to adopt to change
6.High degree of ambition
7.Total commitment and determination
8.Prompt and sound decision making
9.Ability to organization and administration
10.A long-term vision of the future of your business
ENTREPRENUERSHIP QUALITIES:
1.Initiation 10.Patient
2.Watching for opportunities 11. positive thinking
3.Persistence 12.Self Determination
4.Information seeker 13.Self-motivation
5.Qualities conscious
6.Commitment to work
7.Efficient lover
8.Proper planning
9.Eager to learn
FUNCTION OF ENTREPRENEUR:
1.INNOVATION
2.RISK BEARING
3.UNCERTAINTY
4.ORGANIZATION BUILDING
5.PERCEIVING MARKET OPPOTUNITIES
6.PURCHASE INPUTS
7.MARKETING THE PRODUCTS
8.DEALING WITH DBUREAUCRATS
9.MANAGING HUMAN RELATIONS WITHIN
THE FIRM
10. INDUSTRIAL ENGINEERING
What is Entrepreneurship?
Entrepreneurship as a discipline does not have any real definition. Some
scholars accept the study as business formation while others highlight it
as entrepreneurial opportunity that recognizes dimension.
The definition of entrepreneurship is viewed as a change; this includes
other values other than the economic ones. Narrower definitions of
entrepreneurship are described as the process of designing, launching
and running a new business.
Entrepreneurship and Management are close related terms in business,
there is a definite difference between both these processes. In this article
you will learn more about these two terms.
Entrepreneurship and Management entrepreneur
Management talks about the span of organizational studies. Simply
speaking, management explains about each aspect of the organization
which discusses the organization and coordinates the activities in order to
achieve a destined set of objectives. Harold Koontz, the great scholar
highlighted management as the art which talks about how to achieve the
things done from people. He also pointed out the importance of formal
groups in this process.

Thus, the management discusses the overall organizational function


which is to achieve the desired objectives. This also tells that the
interconnection between the management and entrepreneurship is
actually a set because the entrepreneurship proceeds to management
level. In general, entrepreneurship features about the business creation
whose management is required to target the objectives of an
entrepreneurial venture.
Entrepreneurship and its Scope
The scope of entrepreneurship is far reaching.

• Entrepreneurship moves even beyond from the closed system of an


enterprise.
• Entrepreneurship in its capacity stimulate the economy which enables
societal change not only for fulfilling a need but also to generate
revenue for the entrepreneur, entrepreneurship thus provides jobs for
the society and this develops communities.
• Entrepreneurship instigates a lot more than mere creation of
business.
• Entrepreneurship promotes the new business and provides
opportunities to improve the new business sectors.
In the long back time, when washing machines were not invented, and
the women had to spend their while in washing clothes without energy
resources or water resources. This once inspired a new company to
sell low energy washing machines. This would save time which in turn
they utilized the extra time to educate themselves. In the long back
time, when washing machines were not invented, and the women had
to spend their while in washing clothes without energy resources or
water resources. This once inspired a new company to sell low energy
washing machines. This would save time which in turn they utilized
the extra time to educate themselves.
Need of Entrepreneurship

1. Passion, Perseverance & Persistence


Passion is a strong and uncontrollable emotion which is based into something that
is higher to achieve than what the person is carrying within himself. Perseverance
is a mature emotion which comes through experiences gathered and analyzed.
While persistence is the sail that will row the boat of an entrepreneur through the
toughest of climate.

2. Big Dreamer
Dreaming big further strengthens an entrepreneur with his ability to dream and see
the wide picture. This is actually the very first step which sets the path to self-
discovery.
3. Learning
Learning is never to stop irrespective of age and thus arming oneself with
education does play a vital role in forming leadership qualities when needed.

4. Good Listener
The ability to contribute will only come once we have abundance in ourselves, and
this comes by absorbing the words by others. The ability to truly listen to the
customers and employees is actually what makes a difference. This very skill leads
a successful venture.

5. Financing Partner

Choosing a financing partner who understands the business needs is very much
essential. This is as critical as choosing the business which the entrepreneur wants
to pursue. Also, a business loan from a right lender will for sure play a pivotal role
in realizing the dreams of becoming a successful entrepreneur.

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy