ENTERPRISE & ENTREPRENEURSHIP

Learn Enterprise & Entrepreneurship- To understand What Enterprise is we must first know the origin of Enterprise, Who is an Entrepreneur? And what Entrepreneurship is?

ORIGIN OF ENTERPRISE

Organization or Enterprise means to plan a business, to start it and run it. Behind all the planning, creativity, skills, innovating ideas of new businesses and setting up a business is an Organizer or in other words we can call an Entrepreneur.

The root of the Enterprise is an “entrepreneur”. Entrepreneurship is more than creation of a business. It is a process involving various actions to be undertaken to set up an Enterprise.

ENTERPRISE

An enterprise is a willingness to take on a new project, an undertaking or business venture. In other words we can say that, Enterprise is an outcome of a business. In modern times, business has become a very complicated affair. Actual success of a business depends upon a sound “organization”.

It must be carefully planned, and this plan must’ be properly executed. It is not a part-time job. Somebody must devote all his time and energy to it.

MEANINGS OF ENTERPRISE

The term “enterprise” has two common meanings. 

Firstly, an enterprise is simply another name for a business. You will often come across this word when reading about start-ups and other businesses…”Rachel Malcolm has set up her own enterprise after having a successful career in aviation”

Secondly, setting up an enterprise requires some initiative and involves a risk too i.e. in investing and running a business.

QUALITY OF A SUCCESSFUL ENTREPRENEUR

 Someone who forms an enterprise is an “entrepreneur”.  The entrepreneur must possess qualities of a very high order. The entrepreneur can  not run a business if he/she don’t possess the important enterprise skills. Skills such as planning, leadership and decision making are key to business success.

ROLE OF A ENTREPRENEUR

AN INITIATOR

An entrepreneur must be an initiator, Someone who “begins something” or in other words “executes an idea”. He has to be decisive and bold enough, having leadership qualities & taking decisions. Creating enterprise by coming up with the idea for the business and planning out how to turn that idea into a reality.

RISK TAKER

In business there is no such thing as a “sure fire bet”. Every business idea does carry some element of risk .There is a chance or probability that things might go wrong. There is always a chance of  ups and downs in a business.  He must have the courage to face them. He must take advantage of the favorable opportunities.

The worst scenario of establishing an enterprise could be that the person making the investment loses all his/her money. He will have, therefore, to take bold decisions sometimes.

AN ALLOCATOR

The entrepreneur is responsible for hiring an efficient staff to help him carry out his business. This is important because a good manager can take a business to new heights, while a bad manager can destroy the business.

For a more efficient functioning of the enterprise, Entrepreneur is responsible of creating an organizational structure.

Also see:

http://thecircuit.live/category/the-learning-circuit/

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