Understanding of Entrepreneurship and Entrepreneurs

Persons who individual, performs in an enterprising ways, always pursuits for change and considering risk in order to make profit and design, plan, and run what they thought and they are passionate and motivated to carry out with their vision. An entrepreneur is a risk-taker though. An Entrepreneur is someone who would like to work on his own in self-made business rather than working for others.

One of my friends is a small businessman. After completing his training from Youth Development Center on poultry firming and fisheries, he started his poultry business in a small land which he takes from local authority in lease term. Then he took amount of 15 lack on credit from a bank under SME loan sector. He find some cheap sources of food supplier of chicken and enter into a contract with those supplier who will supply chick in lower amount. Then he found some source whom he will supply those chick and egg at a reasonable price. He arrange for medicines for the chicken which will save them from diseases. He hire some workers for taking care of the firm. After a point of time, he pays off all his debt of the bank and have a good amount of net profit. Now, he is planning to expand his business in a new line. 2. How does course literature define entrepreneurship?

According to Venkataraman “Entrepreneurship is the field involved the study of sources of opportunity; the processes of discovery evaluation and exploitation of opportunities; and the set of individuals who discover, evaluate and exploit them” “Societal entrepreneurship’ as a concept that emphasizes the need for enterprising people in all sectors and corners of contemporary society. The view embraced is that societal entrepreneurship is a concept that spans from recognizing entrepreneuring in dull and mundane life to capturing global and pioneering movements and clarifying sweeping descriptions of how structures change. Our purpose also includes setting the agenda for entrepreneuring efforts that break with the practices that do not benefit the making of a sustainable society”.

“Social entrepreneurship has become an interdisciplinary exercise incorporating the fields of sociology, psychology, business, organizational development, and social politics and more; on the other hand such multiplicity creates a challenge for developing a more unified framework. ” Nicholas and Cho.

This research impact to my understanding and view of entrepreneurship is the way and practice that an entrepreneur plans, launch and operate his profit or non-profit business. Entrepreneurship is the method as old as being existence since the human history and people have been exploiting it as making a better world. Entrepreneurship is the field of any sectors (social, business, environmental, social politics, ethically, etc. ) where an entrepreneur can start his innovative thoughts with this collective process. By the process of entrepreneurship, an entrepreneur develop the society, create the job and sustain the economic growth of the country.

Finally the understanding and view of the entrepreneur is who face the problem of society and appearance with an amazing idea to solve the problem. Usually an entrepreneur starts his or their business uncertain results. But after a certain period a successful entrepreneur turns it into certain results. An entrepreneur is always ready to risk, use the resources properly, and they are more passionate, motivated and hardworking. Before researching I used to know that an entrepreneur works only in business market. But now it makes me clear that an entrepreneur works not only in business sector as well as they work in every sector. The appearances of entrepreneur are making a better world with an amazing idea.

Conclusion

Entrepreneurship is the process of innovation changing the world and an entrepreneur is a person or a group of people chosen through the process to change the world. It includes the aspects of the society and the willingness to change the society. It is change in the existing approaches with new methodologies for novel approach.