Entrepreneurship
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Entrepreneurship involves creating value by recognizing business opportunities and managing associated risks while utilizing necessary resources. It encompasses activities such as raising capital, hiring labor, and launching new products or techniques. The role of entrepreneurship in economic development includes employment generation, balanced regional development, and the reinvestment of profits, along with benefits like personal fulfillment and societal contribution.
Entrepreneurship
- 2. DEFINATION Entrepreneurship is the attempt to create value through recognition of business opportunity, the management of risk taking appropriate to the opportunity and through the communicative and management skills to mobilize human, financial, and managerial and material resources necessary to bring project to fruition. Entrepreneurship means the function of seeing investment and production process, raising capital, hiring labor, arranging the supply of raw materials, finding site, introducing a new technique and commodities, discovering new sources of raw materials, and selecting top managers for day- to- day operations of the enterprise.
- 3. A.H. COLE defined, Entrepreneurship as the purposeful activity of an individual or a group associated individuals undertaken to initiate, maintain or aggrandize a profit oriented business unit for the production or distribution of economic goals and services. According to FREDRICK HARBINSON, Entrepreneurship is the skill to build an organization.
- 4. What does an Entrepreneur DO ???????
- 5. ROLE OF ENTREPRENEURSHIP IN Economic development
- 6. Contdddd National production Balanced regional development Dispersal of economic power Reinvestment of profits. Employment generation Harnessing youth vigour.
- 7. Benefits of Entrepreneurship Opportunity to create own destiny Opportunity to make a difference Opportunity to achieve full potential Opportunity to reap impressive profits Opportunity to contribute to the society and recognition. Opportunity to do what you enjoy.