What is Entrepreneurship and motivation for studying entrepreneurship?
Nowadays younger generation wants to be successful and wants to run a profitable business which gives them name and fame and money, and what could be more efficient than to be an entrepreneur.
But it’s not easy to jump into this without having any idea of what Entrepreneurship is, and why it is important to study it before getting into it completely.
The working definition of entrepreneurship according to Technology ventures by dorf and byers is undertaking the creation of an enterprise or business that has the chance of profit or success.
Another important aspect is why study entrepreneurship?
There are many motives of studying entrepreneurship according to the perception of the individual. But most common motives are as follows:
- Money: As everyone knows that money is one of the major drives why people want to get into business and ready to take big risks, so quick output in terms of money is one of the major motivating factors.
- Independence: Feeling of independence in terms of doing something different, and having own choices in everything so it becomes a path to achieve the freedom from time to creativity to flexibility etc.
- Freedom: Entrepreneurships need a lot of hard work and dedication then how this freedom comes in between. Don’t worry this freedom here relates to the freedom regarding choices and their flexibility in terms of time and creation and their thinking. You become your own boss.
- Creation: Nothing to describe about this because you are creative that’s why you want to be an entrepreneur. Creation of your own dreams is one of the motives which you want to turn into reality. And business is one of the components to turn your dream into reality.
- Help: After being a successful entrepreneur you can help the society in many different ways. Corporate social responsibility is one of the good examples among many others. So social help in any form can be one of the best motives of studying entrepreneurship
In my next blog I will be talking about what does it take to successful in entrepreneurship?