Before understanding the term social entrepreneurship, we need to firstly understand what traditional business entrepreneur itself is. An entrepreneur is an individual who owns a firm, business, or venture, and is responsible for its development. In order to do so, he or she will manage the resources he had. The aim of a traditional business entrepreneur or commercial entrepreneur is to generate profits from the risks and opportunities he or she is willing to take. A business enterprise therefore would be an entity that is owned by the business entrepreneur to achieve business goals that have been set by the entrepreneur. Social entrepreneur is someone who recognizes a social problem and uses entrepreneurial principles to organize, create, and manage a venture to make social change. The definition of social entrepreneurship varies from a narrow definition to a wide one. Under the narrow definition, social entrepreneurship is basically the action of Continue reading
Entrepreneurship Articles
Advantages and Disadvantages of Starting Up a Business
Currently, the development of market relations implies a free and equal coexistence of various forms of entrepreneurship and sectors within each type of ownership. A special place in the international economy at this stage belongs to start-up businesses. These are small enterprises that do not require large initial investments and guarantee a high rate of turnover of resources that can quickly and economically solve the problems of economic restructuring. The formation and saturation of the consumer markets are the key elements in the current destabilization of the economy. It should be noted that for a highly monopolized economy, the small business acquires paramount importance since it makes a significant contribution to the development of a competitive environment. However, there are both rewarding advantages and serious disadvantages of starting a business, which need consideration. If a person plans to open a business, it is important to consider the upcoming possible gains Continue reading
5 Essential Skills Needed to Be an Entrepreneur
Entrepreneurs need to have a wide variety of skills to run a successful business. Unlike personal characteristics and attitudes, which can often be hard or impossible to change, entrepreneurs can acquire skills if they are willing to learn them. Additionally, they can hire people to work for them who have the needed skills. The following skills are very important if the entrepreneur want to succeed in his business: Problem solving: Every customer have to deal with problems and every entrepreneur has find solutions to them. The successful entrepreneur sees opportunities in these problems where many of the rest of us only see difficulties. A lot of time, the best new ideas come from the need to solve a problem. The entrepreneur has to be good in identifying the problem, and then has to be able to identify solutions that can be good from the customer perspective. Communication: Entrepreneurs have to Continue reading
Entrepreneurial Marketing
Entrepreneurial Marketing is the combination of two discrete management areas. Existing as distinct disciplines, entrepreneurship and marketing have emerged to capture the several facets of marketing that are often not explained by existing traditional marketing theories and concepts. Definitions of both marketing and entrepreneurship differ considerably and we cannot expect that one single definition of entrepreneurial marketing will cover everything. A contemporary definition that meets the present scope in which entrepreneurial marketing is defined as: “the proactive identification and exploitation of opportunities for acquiring and retaining profitable customers through innovative approaches to risk management, resource leveraging and value creation.” Recently, entrepreneurial marketing has gained popularity in the marketing and entrepreneurship disciplines. The success of business activities pursuing non-traditional marketing approaches can be attributed to entrepreneurial marketing practices. Despite the large numbers of marketing models and concepts, there are notable successes that deviate from these and are labeled “entrepreneurial.” Economic growth Continue reading
Entrepreneurship Characteristics
The process of discovering new venture with creativity and innovation is called entrepreneurship. Entrepreneurship requires assumption of risk and reaping of awards. It brings resources together and provides option for self-employment to an individual. Entrepreneurship also creates employment opportunity for others. Entrepreneurship is a mind set of creativity and risk taking. It is a process of identifying opportunities and bringing together factors of production to exploit these opportunities. Entrepreneurship results in creation of new venture by planning, organizing, operating and assuming the risk. It always aims for innovation, profitability and growth. The entrepreneurial spirit has appeared as the engine of economic development. Entrepreneurship has resulted in millions of new ventures in the world. Entrepreneurship has appeared as the driving force for industrial and economic development. Therefore, the interest in the concept of entrepreneurship is growing in today’s world. Entrepreneurship has the following characteristics: Creating New Venture – Entrepreneurship is concerned Continue reading
Impacts of Internet on Entrepreneur Ventures
In recent years, internet is more and more popular and closely to people in a variable fields. Internet was used as a tool for helping them to connect and seeking information or advising what they need. Almost entrepreneurs also use this tool as a part of creating successfully for their business but sometimes it also creates some problem. Some negative impacts of internet on the entrepreneur venture such as security or lost productivity that make the entrepreneur take a lot of problem. However, almost impacts of internet on entrepreneurial ventures is good such as raise the capacity of accessing information through internet, increase communicate capability among entrepreneurs and others people, help to achieve the target specific venture firm, increase the efficiency of the submission process and specially support marketing strategy. Firstly, the most effective impact of internet is the security of the information. Many businesses conducted online get the trouble Continue reading