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Entrepreneurship

Entrepreneurship

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  • 1. ENTREPRENEURSHIP PRESENTED BY LINDA KWANDA NGWENYA
  • 2. AGENDA ENTREPRENEURSHIP ENTREPRENEURS CHARACTERISTICS IMPORTANCE
  • 3. ENTREPRENEURSHIP The concept of entrepreneurship has a wide range of meanings. Entrepreneurship is the act of being an entrepreneur, which can be defined as "one who undertakes innovations, finance and business acumen in an effort to transform innovations into economic goods“  It is more than mere creation of business  Entrepreneurship is a process of innovation and new venture creation through four major dimensions – individual, organizational, environmental and process.  The entrepreneurship process is aided by collaborative networks in government, education and institutions.
  • 4. ENTREPRENEUR The word entrepreneur originates from the French word, entreprendre, which means "to undertake( to begin something)." In a business context, it means to start a business. The Merriam-Webster Dictionary presents the definition of an entrepreneur as one who organizes, manages, and assumes the risks of a business or enterprise. An innovator of business enterprise who recognizes opportunities to introduce a new product, a new process or an improved organization, and who raises the necessary money, assembles the factors for production and organizes an operation to exploit the opportunity. It is the process of creating something new either it may be product or idea.
  • 5. Entrepreneur is an innovative person who maximizes his profits by following new strategies or venturing into new products or services. An entrepreneur is one who always searches for change, responds to it, and exploits it as an opportunity. On the one extreme an entrepreneur is a person of very high aptitude who pioneers change, possessing characteristics found in only a very small fraction of the population. Finally gaining monetary and personal satisfaction and freedom to do what you want.
  • 6. ENTREPRENEURIAL CHARACTERISTICS Being an entrepreneur requires specific characteristics and skills that are often achieved through education, hard work, and planning. Risk Taker Businesses face risk. Entrepreneurs minimize risk through research, planning, and skill development. Perceptive Entrepreneurs view problems as opportunities and challenges.
  • 7. CURIOUS Entrepreneurs like to know how things work. They take the time and initiative to pursue the unknown. IMAGINATIVE Entrepreneurs are creative. They imagine solutions to problems that encourage them to create new products and generate ideas. PERSISTENT True entrepreneurs face bureaucracy, make mistakes, receive criticism, and deal with money, family, or stress problems. But they still stick to their dreams of seeing the venture succeed. GOAL - SETTING Entrepreneurs are motivated by the excitement of staring a new business. Once achieved, they seek out new goals or ventures to try.
  • 8. HARDWORKING Entrepreneurs need a great deal of energy to see a venture start and succeed. Yet they are not deterred by the long hours to achieve their goal. SELF – CONFIDENT Entrepreneurs believe in themselves. Their self-confidence takes care of any doubts they may have. INDEPENDENT An entrepreneur’s desire for control and the ability to make decisions often makes it difficult for them to work in a controlled environment.
  • 9. OTHER CHARACTERISTICS Confident Enthusiastic Not afraid to make decisions Determined Entrepreneurs know: What they want Where to get the best information.
  • 10. Entrepreneurs can: See opportunities that others can’t see Take on a challenge rather than always opting for the safe path Plan for different possible outcomes
  • 11. IMPORTANCE It turns innovation and new ideas into demand It is vital part of one’s nation economy It provides employment to huge mass of people Creates wealth for nation and for individuals as well Entrepreneurship provides self sufficiency Through Entrepreneurship, it contributes towards research and development The crux motive of entrepreneurship is to transform the dreams into a profitable truth.
  • 12. CONCLUSION IS IN YOUR HANDS
  • 13. I WISH YOU ALL THE BEST
  • 14. REFERENCES Basit,A. ( 2011) THINK LIKE AN ENTREPRENEUR, Karachi: SAB Huey,P. (2014) ENTREPRENEURSHIP, Kazi,A. ( 2012) ENTREPRENEURSHIP, Nawabshah: Sukkur IBA Rathi,M. ( 2013) ENTREPRENEURSHIP IN AGRICULTURE, Greater Noida: BHEL