Why we need Entrepreneurship? Full and Final Explanation

In the previous tutorial, we had discussed the modern concept of the Entrepreneur or Function of an entrepreneur but now in this tutorial, I will going to describe the need of an entrepreneur.
The common question generally people ask…..

Why we need entrepreneurs? Why there is a need for entrepreneurship? And many question people generally ask. According to me, in this tutorial, you will find all solution to your quarries.
Let’s start…

As we know, the idea of entrepreneurship is quite old, but with modern development, it has been given scientific and economic concepts.

In the age of competition, people struggle hard to earn their livelihood. All people cannot depend on employment. One has to struggle hard to earn his livelihood. We should have to create self-employment.

In fact, entrepreneurship is another name for self-employment. To prevailing employment and economic conditions have established that there is an urgent need for entrepreneurship.

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There are some reasons where we need entrepreneurship. The reasons are…

Self-Development:- An entrepreneur is always learn something new in his business. He always is active in his business. He always is punctual in his working time.  An entrepreneur is always independent in taking his decision. He is always independent of taking market risk. He has to opportunities to assist others. He has opportunities to create new things. He has always focused to get profit in his business. It helps the overall development of an individual.

National Development- Simply as we know that everyone plays an important role in your family as well as his country. Like that, an entrepreneur plays an important role in your family or country. An Entrepreneur creates employment and thus it solves the country unemployment problem.

An entrepreneur helps our country to increase production. It also helps to paid regular taxes to develop our country. It also helps in mobilizing the local resources. It provides a helping hand to big national industries and big businesses.

Employment Issue:- As we know that the world population increases day by day. And employment opportunities becoming tighter. I mean that it is not easy to find good jobs in the market. Increasing the population is a major way to find a job.

More population mean a shortage of employment, raw materials, shortage of power supply, and other things. Even in India, engineers and technicians are not getting jobs. This has created a serious employment situation in the country.

The time has come when many talented people like engineers, technicians, and others should not run after jobs in the public and private undertaking. Instead, they should get self-employment by becoming a small entrepreneur. This will not only evaporate, unemployment but it will also boost up the economy of the country. If follow, therefore, that to tide over the present employment and economic conditions of the country, there is a need for entrepreneurship.

Hope you understood what I am trying to make you understand. If you have any quarries related to this tutorial then let me know through your comment. And if you like this tutorial then don’t forget to share other computer lovers or business lovers.

Thank you and Having a good day!!!

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Modern Concept of an Entrepreneur & Function of an Entrepreneur- Best Explanation

If you’re reading this tutorial by skipping the previous tutorial then I strongly recommended to you to learn the previous tutorial, Click Here to Read the Previous tutorial.

In this previous tutorial, we had discussed the Entrepreneurship. What is Entrepreneurship? And why Entrepreneurship is Important for us? 

Now in this tutorial, I am going to describe more and more about Entrepreneurship, the Concept of Entrepreneurship and the function of Entrepreneurship. I hope you like it….Let’s start...

Modern Concept of an Entrepreneur

Simply, as we know that the time is totally changed, in the modern time peoples are advanced…they want to save his time as much as he can…

Now here an Entrepreneur is playing an important role in our society like…..

1. First, an Entrepreneur scans the environment.
2. An Entrepreneur evaluates business opportunities in the context of the person's capabilities, strengths, and weaknesses.
3. An Entrepreneur is who arranges for the capital and obtains the necessary licenses required to start an enterprise.
4. An Entrepreneur is who, who acts as a Guarantor for the financial institutions.
5. An Entrepreneur is who, who starts and runs the unit independently.

In the above, we had discussed some useful concepts if you have any new concept related to this then mention below in your comment.

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The Function of an Entrepreneur

As I told you in the previous tutorial an Entrepreneur is generally performed many things to start and run the units independently.

• First of all, a good Entrepreneur study all about his business, like he study the opportunities for profitable investment, he studies the market where he is going set up his plan and many things he needs to understand about his business
• After that he started his business, he has to explore the prospects of starting such an organization.
• After that, he has to complete all legal formalities….like business permission and such as obtaining a necessary industrial license.
• He has to arrange initial capital, raw materials, machines, manpower, and other important things.
• He has to make all decisions regarding his business.
• He has to chalk out all the policies regarding the production of material, he controls the business and workers too.
• He has to fulfill his worker's needs. 
• A good Entrepreneur read the market and take a risk, the bear all the risks involved.
• An Entrepreneur organizes his sales.
• An Entrepreneur always holds his customers.
• He has to co-ordinate different factors of production.
• He has to always promote new inventions.

And there are many ways, where an entrepreneur plays an important role in his business. They are some measure roles which I mention above.

In the next tutorial, we will discuss about why we need Entrepreneur? And the Benefits of an Entrepreneur in our society. If you like this tutorial then share it to others.

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What is Entrepreneurship? Why Entrepreneurship is Important for us?

Hey what’s up guys, I am creating this tutorial for those who want to look his or her future in Entrepreneurship. 

Yes Entrepreneurship, as we know that the growth of any country depends upon the growth and development of industrialization.

Simply we know that the industrialization process result from the interaction of changes, development of sound infrastructure facilities like social transformation, transportation, power and Entrepreneurship.

Basically I am from India, The second largest population in the world and the positive thing is we have a large amount of educated youth. And educated youth plays a prominent role as an industrial work force, as workers, managers and entrepreneurs to achieve best results in industrialization fields.

Also in the age of competition and increasing population, one has to struggle hard to earn one’s livelihood. The employment opportunities have become so tight that it is difficult to find jobs these days. This has necessitated that young engineers and technicians should create self-employment by setting up small businesses concern. The much needed activity of setting up small industries is called an Entrepreneurship.

At no other time the need of Entrepreneurship has been more than what it is today under the prevailing employment and economic conditions in the country. It has been realized that to boost the national economy, entrepreneurship should be given top priority. The results of Entrepreneurship achieved in advance countries have been very promising.

We should focus our attention on entrepreneurship with special reference to its increasing need in our country under the prevailing circumstances.

There is no perfect line for entrepreneurship,Entrepreneurship is like who take risks of an enterprise, who organize, manage and assume market.

Entrepreneurship is the attitude of mind to take calculated risk with confidence to achieve a predetermined business or individual objective…..

It is like a composite skill, the resultant of many qualities and traits. These things includes imagination, readiness to take market risk, money risk, time investment risk, ability to bring together and put to use other factors of production and ability to scientific or technological advances.

The idea of entrepreneurship is quite old, but with the modern development it has been given scientific and economic concept. The prevailing supply and economic conditions have necessitated that one should take initiative for embarking upon one’s own business, keeping in view all the risks and uncertainties involved.

Hope you read carefully and understood the actual meaning of entrepreneurship, there is no perfect line of entrepreneurship. There is many ways to define Entrepreneurship.

In the next tutorial I will trying to describe more about it. In the last if you like this post then share to other computer lovers.

Have a Good Day….

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