Subject: Social Studies
Entrepreneurship is the process of discovering new ways of combining resources. It has traditionally been defined the process of designing, launching and running a new business.
An entrepreneur is someone who organizes, manages, and assumes the risks of a business or enterprise.It refers to a person who organizes and manages any enterprise especially a business usually with initiative and risk
The word entrepreneur originates from the French Word "entreprendre", which means " to understand". In the business context, it means to start a business. An entrepreneur is typically in control of a commercial undertaking, directing the factors of production.
The Merriam- Webster Dictionary presents the definition of an entrepreneur as one who organizes, manages and assumes the risk of the business or enterprise.
Similarly, an entrepreneur doesn't work as an employee but an employer runs a business and faces all the risks. He/she is ready to face all the possible challenges, seeks the opportunities,identifies the sources and make the investment.
Being an entrepreneur means there’s always more work to do, and not enough time to do it. That’s why the most successful business owners delegate certain tasks to freelance contractors who specialize in providing valuable time-saving services for a fee.
Motivation
An organization should encourage employees to innovate by providing the right working environment. Some conditions that foster innovation are encouraging new ideas, providing access to resources, supporting trial and error and failure, and multi-disciplinary teamwork.
Increment of Production
It helps to mobilize the existing resources and people also get employment. Due to this, human resources and natural resources will be utilized and economic activities in society increase. The entrepreneurship culture helps to increase the production.
Sharing resources
Entrepreneurs can try out their ideas directly. Consider the business owner who starts a printing business. He orders printers, toner and copies paper from other providers, negotiating deals to manage his costs. He also provides a valuable service to customers.
Means of Change
Entrepreneurship is a means of change. Every entrepreneur comes with something new or creative so do the other entrepreneurs. This is how the news things or ideas or production keep on coming. This ultimately brings direct or indirect change in this society on different aspects.
What is an entrepreneur? Describe
An entrepreneur is a person who invests for profit and is ready to face all the possible risks.
What are the fundamental qualities of an entrepreneur? Explain
The fundamental qualities of an entrepreneur are as follows:
Mention the qualities of entrepreneur.
The fundamental qualities of an entrepreneur are as follows:
What are the major tasks of an entrepreneur?Explain
The major tasks of an entrepreneur are as follows:
What are the major tasks of an entrepreneur?Explain
The major tasks of an entrepreneur are as follows:
What are the advantage of entrepreneurship ?Explain any two of them
The advantage of entrepreneurship are as follows:
Increment of Production
Due to entrepreneurship culture, It helps to increase the production as the scattered savings is collected an properly, mobilized.Due to this,human resources and natural resources will be utilized and economic activities in society increases.
Means of change
Every entrepreneur comes with something new or creative so do the other entrepreneurs. This is how, the news things or ideas or production keep on coming. This ultimately brings direct or indirect change in this society on different aspects.
How does entrepreneurship help to increase the economic activities of people? Write briefly
Entrepreneurship helps to increase the economic activities of people by
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