Entrepreneurship. ENTREPRENEURSHIP may defined in various ways, but the four key elements involved in it are:Innovation.Risk-taking.Vision.Organising skill. ENTREPRENEURSHIP. It requires a requires a willingness to take calculated risks both personal and financial, and then to do everything p
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1. Characteristics of entrepreneurs
2. Entrepreneurship ENTREPRENEURSHIP may defined in various ways, but the four key elements involved in it are:
3. ENTREPRENEURSHIP It requires a requires a willingness to take calculated risks – both personal and financial, and then to do everything possible to reduce the chances of failure.
It also includes the ability to build an entrepreneurial or venture team to complement your (the entrepreneur) own skills and talents
4. Sources of entrepreneurship Considerable effort has also gone into trying to understand the psychological and sociological wellsprings of entrepreneurship.
These studies have noted some common characteristics among entrepreneurs with respect to need for achievement, perceived locus of control, orientation toward thinking, and risk-taking propensity.
In addition, many have commented upon the common, but not universal, thread of childhood deprivation, minority group membership and early adolescent economic experiences as typifying the entrepreneur.
5. How people become entrepreneurs By Necessity and Opportunity, Design and Default
Triggered by ‘Social Disruption or Interruption”
Entrepreneurs are created in good and bad economic times.
6. Three Aspects of Entrepreneurship 1. The identification/recognition of market opportunity and the generation of a business idea (product or service) to address the opportunity
7. Three Aspects of Entrepreneurship 2. The marshalling and commitment of resources in the face of risk to pursue the opportunity