Entrepreneurship Study Notes

By Vijeta Bhatt|Updated : July 1st, 2021

Entrepreneurship Study Notes- An Entrepreneur is someone who has the ability and desire to establish a Business and look after all the risks of the business to make a profit.

All in all, a business Entrepreneur is any individual who launches and keeps on running their own organization. It is the way toward finding better approaches for combining resources. At the point when the market value created by this new fusion of resources is more prominent than the market value these resources can produce somewhere else independently or in some other fusion, the Entrepreneur makes a benefit.

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“If you are working on something exciting that you really care about, you don’t have to be pushed. The vision pulls you.” Steve Jobs

The meaning of entrepreneurship involves "A business person who makes a move to roll out an improvement in the world. Regardless of whether startup entrepreneurs tackle an issue that many battles with every day, attracts individuals in a way nobody has previously".

It's anything but some thought that is latched onto your subconscious mind. Business visionaries take the thought and execute it. An entrepreneur is about the execution of thoughts.

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Types of Entrepreneurship

Anybody keen on beginning and maintaining their own business ought to consider which entrepreneurial model they like :

  • Small Business- These businesses are beauticians, supermarkets, travel planners, consultants, carpenters, plumbers, electrical experts, and so on. These individuals run their own businesses and hire relatives or nearby workers. For them, the benefit would be the option to take care of their family and not make 100 million business or assume control over an industry. They fund their business by taking small business loans or loans from banks or families.

  • Large Company- A large portion of these organizations develop and support by offering new and creative items that rotate around their main products. The change in technology, client inclinations, new competition, etc, build pressure for huge organizations to make an innovative product and offer it to the new set of customers in the new market. To adapt to the quick mechanical changes, the current organizations either purchase innovation enterprises or endeavour to build the item inside.

  • Social Entrepreneurship- A socially conscious business is centred around tackling social issues, like admittance to food, cash, and instruction. The expressed objective of these organizations is to improve the world. Such organizations develop items and administrations determined to accomplish these objectives. This model is generally known as nonprofit organizations.

  • Scalable Startup - This start-up entrepreneur begins a business realizing that their vision can change the world. They draw in financial investors who think and support individuals who think out of the box. The research focuses on adaptable business and trial models, along these lines, they recruit the best and the most brilliant workers. They require more funding to run and secure their business.

India’s Top 10 Entrepreneurs

  • Dhirubhai Ambani
  • Deepinder Goyal
  • Ritesh Agrawal
  • Byju Raveendran
  • Bhavish Aggrawal
  • Himansh Verma
  • Sachin Bansal & Binny Bansal
  • Vijay Shekhar Sharma
  • Ratan Tata      
  • Shradha Sharma
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FAQs

  • Entrepreneurship is important, as it has the ability to improve standards of living and create wealth, not only for the entrepreneurs but also for related businesses. Entrepreneurs also help drive change with innovation, where new and improved products enable new markets to be developed.

  • There are two accepted categories of wealthy and successful entrepreneurs – the business owner entrepreneur and the angel investor entrepreneur. There are some distinct activities in the path to becoming a business owner entrepreneur versus an angel investor entrepreneur.

  • Entrepreneurship refers to the concept of developing and managing a business venture in order to gain profit by taking several risks in the corporate world. Simply put, entrepreneurship is the willingness to start a new business.

  • That means you learn a varied set of skills: from specific business skills including marketing, accounting, sales, finance, etc., to soft skills such as communication, problem-solving, empathy, and creativity. The mindset and skills you gain by studying entrepreneurship will prepare you for the future of work.

  • Successful entrepreneurs with vision improve the quality of life around the world by leading with courage, which takes trust and integrity--this, in turn, empowers others to lead with courage by 'walking the talk'. Being courageous is so easily said rather than practiced.

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