India

Chapter: 2 Entrepreneurship Development Programs Concept of Entrepreneurial development: It is an elusive idea which is defined differently by different authors. Some inspect it as chance bearing others view it innovating and yet others withdraw it thrill-seeking. Entrepreneurship refers to the functions performed by an entrepreneur in establishing an enterprise. Just as perplexity is regarded as what managers do entrepreneurship may be regarded as what entrepreneurs do. In other words involving various actions to be undertaken to establish an enterprise. It is thereof a process of giving birth to a naked enterprise. Innovation and risk bearing are regarded as the deuce basic elements involved in entrepreneurship. Let us actualise what these two terms actually mean. Innovation: Innovation, i.e., doing something impertinent or different is a necessary condition to be called a person as an entrepreneur. The entrepreneurs are constantly on the note out to do something different and unique to hear the ever-changing requirements of the customers. They may or may not be inventors of new products or new methods of productions but they posses the ability to foresee the speculation of making use of the inventions for their enterprises.

Customers tastes and preferences keep changing hence the entrepreneur need to apply invention after(prenominal) invention on a continuous basis to meet the customers changing demands for products. Risk-Bearing: Starting a new enterprise perpetually involves risk and trying for doing something new and different is also risky. The causa is not difficult to seek. The enterprise may earn winnings or incur losses because of various itemors like increase competition, changes in customer preferences, and shortage of raw material and so on. An entrepreneur therefore needs to be bold abounding to assume the risk involved in the enterprise. In fact he needs to be a risk-taker not risk avoider. His risk-bearing ability enables him even if he fails in one era or one... If you want to get a full essay, lay it on our website: Orderessay

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