BUSINESS TIME @bekky SERIES 2 : ENTREPRNUERSHIP (DEFINITION AND CHARACTERSITICS OF AN ENTERPRENEUR)
Goodday to my fellow steemians, its another session of BusinessTimeWith @bekky, but today I will taking us through what I came to know about what entrepreneurship means and some characteristics that make one a great entreprenuer.
In case, you might have had having your own business venture, here are the few tips you need since you now know the basis of business: incase you misses the last session read it here .
Entrepreneurship can be defined as
ability of any individual to identify business opportunities and to bring together all necessary resources (money, materials and manpower) which are relevant in creating a business enterprise which will deliver satisfaction to the people while he/she bears the risks of the ideas and also enjoy the rewards in the efforts he/she has put into the business.
The role of entrepreneurship in the development of economical and social sector of a country can not be underestimated, as pointed out over the years. The crux of entrepreneurship is the transformation of ideas into opportunities in an economy.
According to United Nations Conference on Trade and Development (UNCTAD)
history shows that economic progress has been significantly advanced by pragmatic people who are entrepreneurial and innovative, able to exploit opportunities and willing to take risks.
Entreprenuers help to profer solutions that fly on established knowledge face and they will always challenge status quo.
Who are Entrepreneurs?
The best definition of an Entrepreneur is
an individual with an ability of identifing opportunity where others see nothing and also being able to bring together necessary reaources to change the ideas into real business
Entrepreneurs are risks bearers who pursue opportunites that others may fail to see or even view as a threats or problems. When you hear entreprenuer, they are closely related with change, innovation, knowledge, creativity and flexibility factors .
Entreprenuers see opportunities and have the ability to do exploit of such opportunities in order to satisfy people's need while at the same time derive personal satisfaction; which could be in form of doing what they enjoy doing what they enjoy doing, monetary gain.
Entreprenuer, according to Inegbenebor (2006), does things in a significantly new and better way while a owner manager does what everybody else does, the way everybody else does it
The following are the features to look out for in an entrepreneur
Creativity and Innovation
An entrepreneur must be able to think and create something new that meets needs that was previously unsatisfied. The hallmark of an entrepreneur is innovation. A creative mind is always set on finding solutions to problems.Mastermind Orientation
Entrepreneurs do not have consideration for families, friends, tribe or religion in selecting their workers or partners because they know that what they have at stake is beyond sentiments. Henry Ford is one in blessed memory of this feature because despite not having any college education, he still achieved more than plenty of people who went to college because he he knew how to assemble the right calibre of people to deliver him the results he wanted.
Independence
Having self confidence, belief in oneself and what one can do is of significance in individuals who will succeed in entrepreneurship.
Ability to take Risks
Any entrepreneur who would succed will score high on propensity to risk taking, and they do not necessarily take risks blindly but calculate their risks. In short, they are known as calculated risk takers .
Leadership Ability
The ability to give direction and also carry people along towards the achievement of identifiable objectives can be seen as leadership ability. Entrepreneurs usually succeed in wading through murky waters of diversity and achieve results because it one good skills of people with good leadership ability.
Goal Achievement
Any entrepreneur you see are always driven by their achievement or goal. They do great deal of planning to achieve their set down goals or targets. They set high but achievable target for themselves and work to attain them.
Future Orientation
Having foresight and ability to predict the future and also plan for it, is a very important feature in distingusihing entrepreneurs from others. Take for examples
the founder of Ford motor saw the sophistication in today's automobiles and transportation by road no one or most thought it will never happen.
the founder of Cable News Network (CNN), foresaw the present widespread of cable television and he took the lead when most people never thought of it to be a great idea.
Nigerian Dangote and Adenuga have succeeded and they are still succeeding because they had looked beyond today to focus on he problems and issues of tomorrow which are critical.
Are you having that idea but ignoring it, please pick it up again and work on it to become a reality just like the people I listed above. Look beyond the present but rather look into the future of that idea.
THIS WILL BRING US TO THE END OF BUSINESS TIME WITH @beky SESSION 2, JOIN ME NEXT TIME FOR ANOTHER SESSION WHERE I WILL BE DISCUSSING ON "TYPES OF ENTERPRISES"
