Everything you need to know about the types of entrepreneurs. By defining entrepreneur, we know that he is the person who dreams about his business and after seeing the dreams, it becomes true. This is related with economic development of the country. For more developed countries an entrepreneur has to be more innovative, enthusiastic, realistic, and dynamic. Entrepreneurship is the [...]
Everything you need to know about the characteristics and features of an entrepreneur. Entrepreneurs start their own business enterprise in small size and make it a good fortune. To take their organisation to great heights the nature innate characteristics and general qualities are the factors behind the success of an entrepreneur. In the words of Peter F. Drucker, "An entrepreneur [...]
Everything you need to know about the functions of an entrepreneur. The basic function of an entrepreneur is to identify a profitable business and then to venture into it. For this, he has to chart a plan of action ranging from the idea conceived to actual running of business. The functions of an entrepreneur differ depending upon the nature of [...]
The most essential components that determine the success of any entrepreneur are knowledge, skill, motives and traits. Well, skill refers to practical application or use of the knowledge. It is the ability to demonstrate a system and sequence of behaviour.
The knowledge of entrepreneurial competencies or traits has been sharpened over the last five decades. It made the people to believe that entrepreneurs are made not born. According to this view, a person possessing a judicious combination of knowledge, skill and motives can be a successful entrepreneur.
The term institutional support refers to the part of economic environment of industry and business. It consisting of authorities and institutions whose decisions and active support in form of laws, regulation, financial and non-financial help brings a lot of changes in the functioning of any business.
An entrepreneur may be a highly professionally or technically qualified persons, even so, he should not dream of becoming a small entrepreneur, unless he is confident of meeting the following requisites which are highly essential to be a successful small entrepreneur.
Entrepreneurs can be of different types. Some may prefer to go it alone or share the risk in groups with others. They are found in every economic system and every form of economic activity as well as in other social and cultural activities.
The entrepreneur who is a business leader looks for ideas and puts them into effect in fostering economic growth and development. Entrepreneurship is one of the most important input in the economic development of a country.
The words entrepreneur and intrapreneur have acquired special significance in the content of economic growth in a rapidly changing industrial climate both in developed and developing countries.