Its help to student

1. COMMON ELEMENTS OF
ENTREPRENEURSHIP
(ADUANA, 2019,4)

2. INNOVATION
•The process of bringing to an organization
new concepts, technologies, or methods. This
may mean creating a new service, system, or
process, or improving existing ones.

3. OPPORTUNITY SEEKING AND EXPLOITATION
•The ongoing process of considering,
evaluating, and pursuing market-based
activities that are believed to be
advantageous for the firm.
• Example: Lend money, good location.

4. RESOURCE MOBILIZING
• Refers to all activities involved in securing new and
additional resources for your organization. It also
involves making better use of existing resources
and maximizing them. Resource mobilization is
often referred to as 'New Business Development’.
• Example: investment

5. ENCOUNTERING RISK AND UNCERTAINTIES
• Entrepreneurs live with uncertainty and risk. They have no
choice. The future depends on them. They are responsible
for their success and failures and never endures success.
• Example: required hiring more must also learn to manage
the pressure and uncertainty of having to assume
responsibility for their business and their employees,
purchasing more equipment, investing more money, and
decision-making.

6. ECONOMIC AND PERSONAL REWARDS
•Example: Money, Benefits, and Perks