development of managerial capabilities this means that one of the benefits and entrepreneur gets is to develop his managerial skills
creation of organizations which means that because of entrepreneurships many organization will exist
improving standard of living this means that entrepreneurship can lift up the economic status of an individual
means of economic development this means that not only the life of the entrepreneur is improved but also the society where the business is located
the word entrepreneur was derived from the french verb enterprendre which means to undertake
entrepreneurship entrepreneurs are innovators willing to take risk to generate new ideas
initiate doing things even before being told
proactive classify opportunities and seize it
problem solver retain good relations with other people
perseverance he will pursue things to get done regardless of challenges
persuasion he can entice people to buy even if they don't
a planner a plan before doing things and doing things and do not fail to monitor it
risk taker willing to gamble but he will calculate it first
environmental factors political climate legal system economic and social conditions and market situations
decisive must be firm in making decisions
communicator entrepreneur must have a convincing power
leader that charisma to be obeyed by his employees
opportunity seeker an entrepreneur must have the ability to be first to see business chances
proactive preparing for possible future problems
risk taker courage to pursue their business ideas
innovative they do not stop improving
economic and dynamic activity economic activity that involves creation and operation of an enterprise few to creating value or wealth
innovative new ideas needs to be creative
profit potential meaning the entrepreneur can be compensated by his profit
risk bearing meaning the entrepreneur needs to gamble but wise enough to offset the risk
innovative entrepreneur those who always make new things by thinking of new ideas
imitating entrepreneur those who don't create new things but only follow the ideas of other entrepreneurs
fabian entrepreneurs those who are skeptical they don't initiate but follow only after their satisfied
drone entrepreneur this those who lives on the labor of others they are die hard conservatives even ready to suffer the loss of business
social entrepreneur those who initiate changes in the various fields such as education health human rights environment and enterprise development
entrepreneurial mind flame this allows the entrepreneur to see things in a very positive and optimistic way in the midst of difficult situation
entrepreneurial heart flame entrepreneurs driven passion they are attracted to discover satisfaction in the act and process of discovery
entrepreneurial gut game this refers to the ability of the entrepreneur of being initiative
changes in the environment entrepreneurial ideas arise when changes happen in the external environment a person with an entrepreneurial drive view this changes positively
external environment refers to the physical societal and industry environment with the business operates
climate weather conditions
natural resources such as minerals forest water and fertile land that occur in nature can be used for economic gain
wildlife includes all mammals birds reptiles fish etc that live in the wild
political forces includes all the laws rules and regulations that govern business practices as well as the permits approvals and licenses
economic forces such as income level and employment