What are the advantages of entrepreneurship?There are many advantages of entrepreneurship.Some of the advantages of entrepreneurship are as followsIt can get the entrepreneur a large some of monetary gain.It helps a lot in the growth of economy.It creates self employment.Like this there are plenty of advantages of entrepreneurship.What is an Entrepreneur?Entrepreneurs can also be known as the owners of a company who takes care of all the areas of risk and profits in the company. He is concerned with all financial activities of the company.What are the characteristics of an entrepreneur?There are special characteristics which makes an entrepreneur successful.Some of them are mentioned below:-1- For being a successful entrepreneur he must work for long and give his maximum time to the company. For that he should be healthy enough.2- He should learn to accept challenges .He should not give up if he has met with failure.The attitude of ‘try again till you succeed’ should be in him.3- He should be a real competitor. He should have the courage of setting high targets of his own and should have the capability to achieve it.4- He should be a real professional. He should be least bothered with all the personal issues when he is at work.5- Discipline is highly important for the entrepreneurs. He should have a control on all his habits. The skills of time management should be in him.Some benefits of being an Entrepreneur.1- Entrepreneurs have got a great opportunity to contribute to his society. He creates employment for other people which is the best way to serve the society.2- Entrepreneurs become very confident in life as entrepreneurship requires a lot of confidence.3- Entrepreneurs enjoy freedom. They are there own boss. They create tasks for themselves and then work on it the way he wants.Challenges for Upcoming Entrepreneurs• Problems in the establishment: Merely about one half of latest business project stay alive five years and 95% of all business are small, the budding entrepreneurs need to gain knowledge as much as feasible to certainly bang the victory rate for business. • Administration Problems: In the commencement of budding entrepreneur’s business, about the quarter of the entrepreneurs declared that their troubles were diverse and focused on themselves(calculating their own time, setting targets and monitoring presentation),their employees (finding/preserving experienced employees)and accessing useful information(getting useful business information). Some of the Leading Entrepreneurs1- Gates, William H - Microsoft2- Ellison, Lawrence - Oracle3-Allen, Paul - Microsoft4-Buffet, Warren - stock market5- Moore, Gordan - Intel6- Dell, Michael - Dell Computers7- Kluge, John - Metro mediaColleges teaching about EntrepreneurshipDePaul University, ChicagoFlorida International University, MiamiHarvard University, Cambridge, Mass.Howard University, Washington, D.C.Simmons College, BostonSitting Bull College, Fort Yates, N.D.University of Arizona, TucsonUniversity of Colorado, BoulderUniversity of Texas, AustinUniversity of Rochester, Rochester, N.Y.Discussion about the Global ExpansionMike Eskew, the chairman and CEO, UPS says” Globalization is inevitable. Technology, the democracy of information, deregulation, economics, and education are seeing to that.Hideo Sugiura, Honda Motors says” While it is true that a good product knows no national boundaries, there are subtle differences, from country to country and from region to region, in the ways product is used and what customers expect of it.Todd g Szalkowski, Ernst & Young LLP says” The overseas markets are recognized as an essential consideration in today’s venture’s growth strategies as global economies represent new market opportunitiesGovernment support for upcoming entrepreneursTNUFA: This is a support offered by the government for the upcoming entrepreneurs for the starting phase of converting their ideas into reality. This is a fund which will help in getting patents etc.Heznek Program This is a program started by the government it gives an option to the entrepreneurs to purchase the government shares in the upcoming company at the lowest price.Entrepreneurship as a global activityEntrepreneurship is getting global day by day. AS a result the competition between the entrepreneurs is getting increased rapidly. It becomes a challenge for the entrepreneurs to make their presence in the competitive market. They have to make business strategies which can become successful all over the world Do you want your company to work globally?It is a great thought of taking the company globally as it offers lots of opportunities for growth and development as without growth their cannot be any future.Some of the advantages of making a company global are:Just producing one product you can sell plenty of it by searching new markets and can earn a lot from it.You don’t have to depend upon any particular market as you are dealing globally.You would get the opportunity to compete with other foreign markets and you can create your place.What should entrepreneurs do before launching their company globally?1- All the employees of the company should be the member of the international company.2- Before doing such an activity you should plan a lot about the objective of globalization, about the rules, policies and procedures etc.3- You should plan well in advance about your investment.4- Before taking your product globally you need examine it carefully as now the product will available globally in market 5- Search for the customers all across the country before launching the product so as to minimize the amount of risk involved in loss.6- You need to select the method that how you are going to globalize? The method could be direct or indirect.7- Before landing globally you should plan about the price of the product. Keeping that the price should be globally acceptable.8- Take care of the International customer even after sale of the product. This will help you in creating your goodwill around the world.Future for EntrepreneursThe future would be bright for all the entrepreneurs because of the globalization.The entrepreneurs would have more opportunities to deal upfront and make their presence globally. They would enjoy all the facilities in International market.
By: Kevin 888
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