Skip to main content

Nature of Entrepreneurship

Entrepreneurship is the process of establishing new organisation, generally, a new business. It is a complicated and diverse field. The activities of entrepreneurship are substantially differenrt depanding on the type of organisation that is being started. It is characterised by the following feature.

    Decision-making : It is one the essential characteristics of entrepreneurship decision making is an important action that is required consistently for carrying out activities in an enterprise. As entrepreneurship is difficult, entrepreneur should be positive thinker and instant in taking decisions.
  Accepting challenges: For proper functioning and progress of an enterprise it is important to have vast resources. This is also a fact that every enterprise with vast resources has to bear risks and challenges. Entrepreneurship is all about accepting challenges.

  Risk- Taking: It is also one of the main feature of entrepreneurship. An entrepreneurship should be smart enough to bear all the possible risks in future and should try to minimise risk and maximise the profits. 

 Building an Organisation: Organisation making is the most toughest requirement for entrepreneurship. Delegation of authority and leadership are must for each and every organisation. According to Harbison, innovations are necessary for building organisation. 

 Skilful management: Entrepreneurship also includes skillful management. An entrepreneur should supervise and control all the activities in an organisation and should take all possible steps to improve the projects. 

 Innovation: Entrepreneurship means something 'new', David Mc. Clelland identified two important features of entrepreneurship, first, doing things in a new and better way, second it is one of the most important characteristics of the entrepreneurship. 

 Mobilisation of Resources: As there is scarcity of resources, proper mobilisation of resources helps in attaining the goals. To accomplish this goal, entrepreneurs have to be unique from the rest of the population because of their potential to mobilize the resources.


Popular posts from this blog

Why is Scandinavia so expensive ?

Hi I am Deepjit Karmakar, founder of and today here in this article I am gonna tell you why Scandinavia is so expensive. Across scandinavia, the average price of everything from a knitted  pay roll neck pastries from the local bakery are some of the highest in the world. Scandinavia is a region in Northern Europe that was a historical e made up of three kingdoms: Norway, Sweden and Denmark. They are United by their Viking heritage but also their shared reputation as one of the most expensive regions to live and visit. Whether it's buying a car or a TV. Consumers in Scandinavia pay some of the highest prices in the world. Even buying groceries is costly with all three countries' food and drink prices above the European average. All three countries also have a standard  VAT rate of 25%. Amongst all the European Nations, only Hungary has a higher rate. Heading to the bar is also pretty pricey. In Norway, having a beer or glass of wine will cost in ×2.5 times

Why is Singapore so rich and developed

 Hii! I am Deepjit Karmakar and today here in this article i am gonna tell you that why Singapore is so rich and developed. So, without wasting time let's get started. Singapore: Singapore is a tiny country, so tiny you can drive accross the island in just one hour. Despite its size and lack of natural resources, Singapore's 5.6 million people enjoy one of the highest average incomes in the world, ahead of countries like Germany, France and Japan. So, how did this little island get so rich?  Xiaomi 11 Lite NE 5G (Diamond Dazzle 6GB RAM 128 GB Storage) | Slimmest (6.81mm) & Lightest (158g) 5G Smartphone Explained:  Singapore doesn't have resources like coal or oil but it does have something which countries can't buy, location. The island sits in the middle of an important trade route connecting Asia to Europe. That's the key reason why the British decided, back in 1819, to set up a colony in Singapore. Location isn't everything though. There are several count

Japanese Management Approach

  Fossil Chronograph White Dial Men's Watch-CH2882 Amazon's Choice for "fossil watches for men" 16% off Japan has emerged as a world leader in industrial development. Today japan has great commercuial success. The japanese 'economic miracle' has attracted the attention from east and west. In this respect, many countries are turning to the japanese style of management. Although the entire japanese style of management may not be applicable to all nations due to social and cultural differences, certain characteristics features may find wide applicability. The roots of unique practices and style of Japanese management are as follows- (a) Groupism : Groups are the primary social unit throughout japan. Without getting the consensus of his group, the leader of a group can't do anything. In japan, self is seen as part of a group. (b) Confucianism : It is a descipline of life-style. It emphasizes the importance of loyalty to a boss, obedience to a senior person, th