ba core 7

• According to J.B Say, the entrepreneur, the linchpin (heart, nucleus) of the economy, takes on himself the responsibility, the conduct, and the risk of running his firm.
• Entrepreneurship


  concerned with starting the business
• Entrepreneurs


  start their own business
• Intrapreneurs


  are working for companies
• Webster dictionary defines entrepreneurs as “the Organizer of an economic venture, especially one who organizes, own, manages, and assumes the risk of the business.
• Entrepreneur is a French word that means “to undertake
• entrepreneurship


  is “the recognition of opportunities – needs, wants, problems, and challenges – and the use or creation of resources to implement innovative ideas for new, thoughtfully planned ventures.
• Entrepreneurship, like the strategic management, thinks about the opportunities available when new ideas are connected with the new markets.
• Entrepreneurs


  are distinct from small business owners in a way that entrepreneurs often rely on innovation – new products, new methods, or new markets – to grow their business.
• Small business owners


  typically enter established markets, providing a more traditional product or traditional service to a local market
• Social entrepreneurs


  look for and implement innovative solutions to societal problems.
• Social entrepreneurs


  apply the same tools and skill sets as other entrepreneurs but their focus is to solve a social problem or create a benefit to humanity
• Intrapreneurship


  is grade/type of entrepreneurship within a given system or entity,
• entrepreneurial environment


  is a crucial aspect of entrepreneurship, encompassing political, socioeconomic, technological, legal, and infrastructural spheres.
• Politics, derived from the Greek word "polis“
• Politics


  refers to the totality of human activities within a city-state.
• Politics


  It is the art and science of government, involving the skillful allocation of benefits, rewards, and penalties to address societal needs.
• Politics


  is a systematic body of knowledge that deals with the government, regulation, maintenance, development, and defense of the state.
• Demographic insights


  Political changes reflect a specific demographic, which can be valuable for entrepreneurs. The working class, comprising the majority of the voting class, can dictate the production of goods and services reflecting market demand.
• Periods of activity


  Legislation can significantly impact businesses, particularly start-ups. Economic development opportunities are often provided by legislation through grants, incentives, or exemptions. Entrepreneurs should monitor laws to determine which direction to take, as favorable legislation for specific industries presents opportunities.
• Fears on new developments


  Political tumult often leads to fear, resulting in new needs that entrepreneurs can capitalize on. In unsafe eras, people are willing to invest in security and products that make them feel heard.
• Excitement over new developments


  New developments in the economy can trigger excitement and change consumer needs, potentially guiding entrepreneurs towards the right path.
• Cultural Attitudes and buying decisions


  Political leadership can shape cultural attitudes and beliefs, impacting entrepreneurship's success
• Socio-economic factors


  involve the interaction of social and economic factors, focusing on trade, industry, and wealth creation
• level of education


  Educational levels significantly impact economic social status, as higher-paying jobs often require advanced or specialized education.
• Health status


  is a measure of socioeconomic status, impacting education, employment, mobility, socialization, and financial stability.
• poor health


  due to genetics, accidents, or lifestyle choices can hinder progress, while disabled individuals often have limited financial resources
• Neighborhoods


  often grouped by income and background, are a significant factor in socioeconomic status.
• Originality and Experimentation


  Ideas are "spur of the moment" thing and belongs to no one else but to the person who got the idea.
• Top management support


  The support and encouragement from top management is critical for entrepreneurial activities to prosper and succeed
• Availability of resources


  For any endeavor to progress and succeed, it should have the needed resources available. The different of Ms of management- men, money, methods, materials, market, media, and moment (time) -should be made available to entrepreneurs
• Teamwork


  When employees see that their efforts and collaboration are encouraged and supported by management, the drive to succeed is maximize
• Evaluation and Reward


  The company should institute a reward program for rewarding intrapreneurs so that they become more motivated to contribute to the growth of the company
• Nurture an innovative company culture


  Intrapreneurs are creative people who, mostly; Work not on the path companies are treading, but outside the company's comfort zone