Entrepreneurship
has the following characteristics:
1.
Creating New Venture
Entrepreneurship
is concerned with creation of new venture with new ideas. Such ventures starts
as a small business to satisfy the unfulfilled needs in the market. These new
ventures produce something new of value, create new market and new customers.
2.
Hard Work And Commitment
Entrepreneurship
requires hard work and commitment through devotion of time and efforts. Hard
work with enthusiasm is needed to make new ideas, developing plan, determination
of required resources. Entrepreneurs have deep sense of personal responsibility
and high level of energy.
3.
Risk Assumption
Entrepreneurship
involves assumption of risks which implies possibility of loss. Probability
estimates of the outcome of risk situations are made to calculate risk.
Generally, new ventures tend to have high risk and high failure rate. Financial
risk, career risk, social risk and psychic risk are involved in
entrepreneurship.
4.
Reaping Of Rewards
Entrepreneurship
results in reaping of rewards. Rewards can be monetary benefits in terms of
profit or non-monetary benefits in terms of personal satisfaction, self
development, fame, reputation and independence in work. Monetary rewards serve
as symbol of achievement and non-monetary rewards provide opportunities to make
contribution toward social well-being and get social recognition.
0 komentar:
Posting Komentar