An Introduction to Entrepreneurship
An Entrepreneur is someone who organizes, manages and takes on the risks of an organization or company. A businessman is an agent of change. Entrepreneurship is the process of finding new ways to pool resources. When the market value produced by these new resources will produce either individually or in a different combination on elsewhere. Such analogy is possible because the production costs of an entrepreneur in competitive resource markets are dictated by the rates paid to off alternative uses of the necessary resources. Such costs will be equal to the value that the resources in their next best alternative uses will produce. Because the purchase price of resources calculates the expense of this opportunity, the value of the discarded alternatives; the income entrepreneurs make reflect the amount through which they have increased the value produces by the resources they manage.
What is an Entrepreneur?
An entrepreneur is an individual who establishes a company with the aim of making a profit. The concept of an entrepreneur can be somewhat ambiguous but for good reason. An Entrepreneur may be a person on the side setting up their first online store for starting out.
Some of the Keys to be an Entrepreneur?
- A Person who undertakes the risk of starting a new business venture is known as an Entrepreneur.
- Enterprise is a major driver of economic growth and innovation.
- An Entrepreneur creates a company that aggregates capital and labor to manufacture productive goods.
An Impact On Social Entrepreneurship
The concept of social entrepreneurship itself refers to how a corporation or an enterprise can not only on profit-making but also on social values. A business that prioritizes social values means it is aware of the social issues surrounding it and makes use of entrepreneurial principles to control build and encourage social change. Entrepreneurs are often considered to be cultivating, empowering and remunerating national assets to the greatest extent possible. A good businessman is capable of changing the way we live and work. If successful, their inventions will raise living standards, and they also create jobs and contribute to a growing economy in addition to creating wealth through entrepreneurial ventures. New products and services produced by entrepreneurs may have a cascading impact where it stimulates related businesses or industries that need to support the new venture and promote economic growth.
To bring a vision to life, social entrepreneurs must apply some resources to create a model for change, that is sustainable to eliminates costs or values in a systematically and capable way. Entrepreneurs for Social Change aims to empower young entrepreneurs at the regional level in a different manner so that they can bring about positive social change in their communities through entrepreneurship and innovative business ideas. By offering innovative solutions to economic and social issues at local, national and regional level and by demonstrating the advantages and importance of social entrepreneurship to policymakers and other relevant stakeholders, the ecosystem will be strengthened and young social entrepreneurs will be able to trigger social change in their communities and thereby contribute to the substance of social transformation.
Characteristics to become a Successful Entrepreneurs
A Social Entrepreneurship is not only with a good idea, but they also needed the practical knowledge about the business to transform the idea into reality. The approach for a social entrepreneur drives into account market demand and analysis, financial capital and the opportunities in their society and country.
Given below some of the characteristics to become a Successful Business Entrepreneurs:
1.Community-Based
Successful social entrepreneurs are passionate leaders of change. They are not satisfied with the status and do not believe that the way things have always been done is the way things should remain. An innovative idea is to improve the lives of their out faces and their community is a characteristic that encourages social entrepreneurs to continue their work.
2.Creative
Community entrepreneurs take a different view of problems than the average person. Where some people may think of problems as something that can not be fixed, social entrepreneurs see issues as an opportunity to get innovative. They take up this issue and innovate to create a new product, service or solution to overcoming the obstacle.
3. Determination
Entrepreneurs and social entrepreneurs alike need to have commitment. Social entrepreneurship is about taking good risks and, as a result, often facing disappointment. Yet successful social entrepreneurs realize the loss is a necessary step toward success. Instead of giving up, social entrepreneurs take a critical look at their initiative or company and welcome criticism, transforming it into more. Determination is also needed when meeting other challenges, including bureaucracy, lack of capital, and the absence of community or family support.
We had conducted a Research Seminar on the topic"Social Impact of Entrepreneurship: An Ultimate Change Impact": in St.teresa's College; To know more about just click on its links.
Social Entrepreneurship drives into a change impact, it offers a new way of thinking perspective for filling the gaps left by big business.
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