Introduction

Entrepreneurship in Childcare Services 4 (2+2)

Lesson 1 : Introduction to Entrepreneurship

Introduction

Entrepreneurship is the hour of the day due to various reasons like limited opportunities in Government jobs, development of industrialization and urbanization individual’s attitude towards work environment and increased aspirations for financial independence in general and for women in particular. These are responsible for increased entrepreneurial opportunities in the present day. This chapter deals with entrepreneurship meaning, its benefits, process of entrepreneurial development and factors for development of entrepreneurship.

Meaning

Entrepreneurship is the character practice and skill that combines innovativeness, readiness to take risk, sensing opportunities, taking initiative, perceiving and mobilizing potential resources, concern for standard of excellence, persistence for achieving the goal, positive orientation towards problem solving and constant strive for growth and excellence when all such attributes are developed in one person, the person becomes an entrepreneur and we can found them in many fields like industry, business, services perceiving and mobilizing resources, organizing production of products/ services marketing them covering the risk with constant strive for growth and excellence.

According to Europian Commission (2003), Entrepreneurship is the mind set and process to create and develop economic activity by building risk taking, creativity and/or innovation with sound management within a new or existing organization”.

Who is an entrepreneur? An individual who bears the risk of operating a business in the face of uncertainity about the future conditions.”According to ILO, entrepreneurs are the people who have the ability to see and evaluate business opportunities together with the necessary resources to take advantages of them and to intimate appropriate action to ensure success.

Index
Home
Next
Last modified: Tuesday, 13 March 2012, 5:45 AM