Samacheer Kalvi 12th Commerce Notes Chapter 23 Elements of Entrepreneurship
→ The person who establishes business is termed as entrepreneur. The output of an entrepreneurial process ends up in establishing an enterprise.
→ The concept of entrepreneur are now broadly classified into three groups namely risk bearing, organizer and innovator.
→ In the world of A.H.Cole, “The purposeful activity of an individual or group of associated individuals undertaken to initiate, maintain or earn profits by production and distribution of economic goods and services.”
→ Characteristics of entrepreneur, Spirit of Enterprise, self confidence, Flexibility, innovation, Resource mobilization, hardwork, Leadership and Analytic ability.
→ Importance of entrepreneurship innovation, contribution to GDP, Balanced Regional Development, Export Promotion, reduction of concentration of economic power in few hands and better standard of living.
→ Intrapreneur is one who thinks and acts, like an entrepreneur for the firms development during the course of employment in an organization.
→ Entrepreneur is an independent person and a free thinker. The very motive of manager is to render service in an entity set up for execution of venture. Manager is a salaried employee and he doesn’t bear any risk in the venture.
→ Women entrepreneurs has been getting growing recognition over the past two decades across the world. They provide society with different solutions to management organization and business problems.
→ Entrepreneurial functions are classified into three, Promotional, Managerial and Commercial functions.
→ Entrepreneur has to take steps to mobilize capital need to implement the venture. It has to estimate the manpower needs of the enterprise accordingly decide the size of manpower required for various slots of organizational structure.
After the completion of the academic career, which engagement would you like to opt for after considering the following factors:
After the completion of the academic career would like to have freedom to select self employment because being own business work from home, Better work life balance, work whenever and want earn more and spend less, than to adapt learn update skills with every client comes a new challenges and i can set our own schedule self employment is a good life style choice.