entrep 0-1 Flashcards
factors affecting entrepreneurship
- personality factors
- environmental factors
what are the personality factors
7
initiative
proactive
problem solver
perseverance
persuasion
planner
risk-taker
which means doing things even before being told.
a. Initiative -
which means he can classify opportunities and seize it.
b. Proactive -
which means he can retain good relations with other people
c. Problem Solver -
meaning he will pursue things to get done regardless of challenges.
d. Perseverance -
means that he can entice people to buy even if they don’t.
e. Persuasion -
meaning he makes plan before doing things and do not fail to monitor it.
f. Planner -
which means that he is willing to gamble but he will calculate it first.
g. Risk-taker -
which include political, climate, legal system, economic and social conditions and market situations.
- Environmental Factors
types of entrepenretru
1 innovative entrepreneur
2 imitating entrepreneur
3 fabian entrepreneur
4 drone entrepreneur
5 social entrepreneur
They are those who always make new things by thinking of new ideas. They have the ability to think newer, better and more economical ideas.
Innovative entrepreneur -
They are those who don’t create new things but only follow the ideas of other entrepreneurs.
Imitating entrepreneurs -
They are skeptical about changes to be made in the organization. They don’t initiate but follow only after they are satisfied.
Fabian entrepreneurs -
They are those who lives on the labor of others. They are die-hard conservatives even ready to suffer the loss of business.
Drone entrepreneur -
They are those who initiate changes and drive social innovation and transformation in the various fields such as education, health, human rights, environment and enterprise development.
Social entrepreneurs -
is defined as “person in
effective control of commercial undertaking; one
who undertakes a business or an enterprise”.
An entrepreneur i
is an innovative person who
maximizes his profits by following new strategies
or venturing into new products or services.
Entrepreneur
Entrepreneuria1 activities today
have become very important and
are keys to economic development.
entrerpreneurship
Growth ,industrial developrnent ,
including etmploymtent generation,
depend upon entrepreneurial
behaviour of a country
entrepreneurship
relevance of entrepreneurship
1 development of managerial capabilities
2 creation of organizations
3 improving standard of living
4 means of economic development
The greatest
significance Of
entrepreneurship lies
in the fact that it
helps in identifying
and developing
managerial
capabilities Of
entrepreneurs.
developmental of managerial capabilities
Entrepreneurship
results in the
creation of
organizations when
entrepreneurs
assemble and
coordinate physical
*human and
financial resources
and direct them
tow a rds
achievement of
objectives through
managerial skills.
creation of organization
By creating productive
organizations, entrepreneurship
help in making a wide variety
of goods and services available
to the society which results into
higher standard of living for the
people.
omproving standard of living
