Today India needs large no. of entrepreneurs because of dearth of jobs. It is a common misconception that someone who has completed his MBA degree can only become an entrepreneur. I would say that even Engineers should try and setup t...See more
This article and its subsequent parts are mainly targeted for motivating the budding engineers to think creatively and start their own businesses because it is easy for engineers. Reason being engineers are eager for getting knowledge. Now whenever a person wants to learn new things then growth occurs and growth is an important factor for developing solid businesses. Before knowing about the process of starting a new business it is important to know that what is entrepreneurship?
What is Entrepreneurship?
Entrepreneurship is derived from French word “Entrependre” and German word “uternehmen” both referring to men taking endeavors. In simple words anyone who exhibits self development, creativity and risk taking characteristics can be called as an entrepreneur.
Economist defines an Entrepreneur as the one who brings together resources, labor, material and other assets and increasing their value and also he introduces changes, innovation and a new order. But the Psychologists define an entrepreneur as the one who is typically driven by a psychological force, which creates a desire to attain something.
According to someone: Entrepreneurship is spending some years of your life in a way that most people won’t to spend rest of your life like others can’t. According to Nolan Bushnell (entrepreneur) -“The true entrepreneur is a doer, not a dreamer.”
According to Praveenben-” Entrepreneurship is like giving birth to a child. The women’s love of child overcomes the risk of life. The entrepreneur’s passion overcomes the risk of loss.”
In the subsequent articles I will write that why engineers should try and become entrepreneurs and thee process of becoming an entrepreneur.
Added: 1 year ago
KARZ- The Enterpreneur's Dilemma
Available below is the Harvard Business Review(HBR) case solution for MBA students. The case study answers like What services provided by Tmall were considered most critical to Karz? Was Tmall’s support sufficient?, How would you compare the services provided by different platforms?, From Karz’s point of view what was the best option?, etc.
There is a Lot to Learn from Young Entrepreneurs.
There is a lot to learn from young entrepreneurs We all have come across the names of Vijay Shekhar Sharma (Paytm Founder), Binny and Sachin Bansal (founders of Flipkart), Bhavish Aggarwal (Ola cabs founder). They all are perfect examples of young entrepreneurs who have acted as agents of change in the modern society. They all possess certain traits that separate them from the crowd. Traditional businesses are evolving and the young entrepreneurs are the inspiration. The world has never witnessed such a widespread influence of young entrepreneurs and these are some of the successful traits of the young entrepreneurs to be adopted. Charismatic Young entrepreneurs have the charisma required to build a friendly and healthy environment in the organization. They make sure that all the co-workers can reach them and in turn, no communication gaps exist. A good bonding motivates employees and yields good returns. Craves Learning Ambition to learn and implement - is the most outstanding trait they possess. Youths are curious learners and they like to stay updated about new inventions and techs. Moreover, they know how to make the best use of networking. Passionate Youngsters are filled with enthusiasm to face new challenges and grab every opportunity that comes their way. They are always exploring new possibilities & making their way out of obstacles. Mindset The different outlook and mindset of young entrepreneurs has made them the choice of every thriving firm in the country. They possess a positive and fresh mindset – they are ready to explore and grab new opportunities and thus, help to bring changes in the conventional ways of dealing with business problems. Innovation Youths are quite innovative and capable of providing useful products and ideas to solve the problems of the masses. Who knows the better use of latest technologies than the modern youth? When it comes to devise new stuffs and make innovative use of technologies, they always outshine the rest. Tackling Problems Analyzing different aspects of a problem and coming up with the best possible solutions is the quality that distinguishes them. They are persistent and do not give up until a problem is fully solved. They see problems as ‘challenges’ and do not hesitate to go out of their comfort zone to solve them. Highly adaptable They are quite flexible and adapt to the situations as per the firms interest even if that means more work load or out of the job profile. Young entrepreneurs often go an extra mile and their results speak for them. Risk Taking Youths are known to take calculative risks for positive growth of the business. The biggest risk is not to take any risk and the better knowledge of ROI gives the youngsters an edge.