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Entrepreneurship

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					Entrepreneurship


A person who perceives and creates an organization to persue it, is Entrepreneur and the process

is entrepreneurship. In other words we can say that a person when seeks an economic

opportunity and in order to avail that particular opportunity he forms an organization is an

Entrepreneur and the process is known as entrepreneurship. During the entrepreneurial process

all the functions and processes takes places which are necessary to form an organization and to

avail or persue the opportunity. It is a birth of a new enterprise and there are chances of its

subsequent failure of success. In the past there was a long debate regarding entrepreneurship that

either it is a born ability of a person or this can be taught? It is a science or an art to innovate new

ways to work? Professors of business studies believe that this can be taught and learned and that

is why it is one of the fastest growing fields of study in American higher education. A research

was done in 2002 by Kauffman Foundation which resulted that about 61% of the U.S. colleges

and Universities offers atleast one course in Entrepreneurship for their students. These courses

does not guarantees that one will become Steve Jobs or Mark Zuckerberg same as a batting

coach in cricket cannot guarantee his students that they will become Brian Lara or Steve Waugh,

But it is a fact that people with potentials and aptitude can become good entrepreneurs.


There is always a ‘Tipping Point’ that gives rises to big organization. As in case of Facebook

which was made just for campus communication and which has now become a reknown

organization, or in case of Melanie Steven who was dropout at school and ran out of job options

since she had worked a number of minor jobs. Then she realized that instead of doing these low

wages jobs she should have her own business and she started to make canvas bags. Within a few

years she was the owner a chain of retail store in Canada.There is a long list of entrepreneurs
who had faced failures or were fired or were dropout at schools or colleges but one think which

they had in common was the courage to standup and face the world with a smiling face, a self

belief, a potential to grow and show the world that they can do it. This list includes Steve Jobs of

Apple, Walt Disney of Disneyland, Howard Rose of Waverly pharmaceutical, Tim Waterstone

of Waterstone’s bookstores, Jordan Robin who invented the supplement fir the cure of Crohn’s

disease was a Crohn’s diseases patient, he founded the organization named Garden of Life.


For some people entrepreneurship is a conscious choice therefore there are number of people

around us in the society who have quit their settled jobs and started their own business. While

talking about the entrepreneurial ideas a study was made of the 500 fastest growing companies of

America which reveal that entrepreneur gets 57% of the ideas of their businesses from the

industry they worked in and 23% of the ideas from the relevant industry. Therefore 80% of the

highly-growing businesses are seems to be found in the same industry or closely related industry

from their they have got their work experience because it is the period where the entrepreneurs

have got a major portion of their most viable business ideas. This is not necessary that the

entrepreneur belongs to the same industry he has experience of as in case of Wayne Huizenga

who first ventured in an unrelated garbage disposal with waste management, next in the

entertainment industry with a blockbuster video and then he switched to automobile sales with

AutoNation.


Personal attributes of a person matters a lot while starting an entrepreneurial business. A person

who wants to be entrepreneur should have the following qualities in him/her. The person should

be a Dreamer - he should have the vision of what he wants his future to be. Decisiveness i.e.

he/she should be able to make quick decisions. Doer – once a decision is made and a course of

action is selected he/she should be able to implement on it. Determination – Entrepreneurs don’t
give up, they are committed to their decisions. Dedication- Their priorities are line in such a way

that their top most priority is their business. A person can only be a successful entrepreneur if he

has atleast these personal traits.

				
DOCUMENT INFO
Description: This is an article regarding Entrepreneurship and stories about successful Entrepreneurs.