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Development, Problem, Prospects And Progress Of Entrepreneurship Development In Narayanganj Sadar Upazilla: A Short Case Study

4916 words - 20 pages

Development, Problem, Prospects and Progress of Entrepreneurship development in Narayanganj Sadar Upazilla: A Short Case study

Entrepreneurship - the process of starting a business; typically a startup company offering an innovative product, process or service is termed as entrepreneurship. The entrepreneur perceives an opportunity and often exhibits biases in taking the decision to exploit the opportunity.
Entrepreneurship can be defined by describing what entrepreneurs do. For example: “Entrepreneurs use personal initiative, and engage in calculated risk-taking, to create new business ventures by raising resources to apply innovative new ideas solve problems, meet challenges, or satisfy ...view middle of the document...

Entrepreneurship is an approach to management that can be applied in start-up situations as well as within more established businesses.
From the functional view point, entrepreneurship is defined as the combination of activities, such as perception of market opportunities, gaining command over scarce resources, purchasing inputs, producing and marketing of products responding to completion and minting relation with political administration and public bureaucracy for concessions licenses and taxes etc.

Now let us consider some special qualities and strengths which make an entrepreneur different and able to develop a business. It is important for us to know how entrepreneurship possesses can be developed:
1. Initiative
An entrepreneur takes actions that goes beyond job requirements or the demand of the situation. They Crate ideas that bring about phenomenal changes.
2. Opportunity seeking
An entrepreneur is quick to see and seize opportunities. He/she does things before he/she is asked to work by people or forced by situation.
3. Persistence
An entrepreneur is not discouraged by difficulties and problems that come up in the business or his/her personal life. Once she sets a goal she is committed to the goal and will become completely absorbed in it.
4. Information seeking
An entrepreneur undertakes personal research on how to satisfy customers and solve problems. He/she knows that different people have different capabilities that can be of help to them. He/she seeks relevant information from his/her clients, suppliers, competitors and others. He/she always wants to learn things which will help the business to grow.
5. Demand for quality and efficiency
An entrepreneur is always competing with others to do things better, faster, and at less cost he/she strives to achieve excellence.
6. Risk taking
Are you afraid of uncertainties? Then you cannot be an entrepreneur. Entrepreneurs are not high risk takers. They are also not gamblers; they calculate their risks before taking action. They place themselves in situations involving moderate risk so they are moderate risk takers.
7. Goal setting
An entrepreneur sets meaningful and challenging goals for him/herself. An entrepreneur does not just dream. Him/she thinks and plans what he/she does. He/she is certain or has hope about the future.

8. Commitment to work
An entrepreneur will work long hours after into the night just to be able to keep his/her promise to his/her client. He/she does the work together with his/her workers to get a job done. He/she knows how to make people happy to work for him/her due his/her dynamic leadership.
9. Systematic planning and monitoring
An entrepreneur plans for whatever he/she expects in the business. He/she does not leave things to luck. He/she plans by breaking large tasks down into small once and puts time limits against them. Since and entrepreneur knows what to expect at any time he/she is able to change plans and strategies to achieve...

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