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Entrepreneurship

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Written by   31
2 months ago
Topics: Freedom, Work, Business, Profit, Success, ...

Entrepreneurship : the word entrepreneur is a term that is often used both in everyday life and in economics and business management. An entrepreneur is a person who, by deciphering the technical definition, combines and organizes production factors and transforms them into the production of goods or services, or allows them to be transformed. According to a more general definition, an entrepreneur means a person who understands the nature of entrepreneurship and opens it to development by undertaking specific project proposals.

The concept and scope of entrepreneurship ;

- initialization, discovery, creation

- innovation , new products , new sunday

- new business

- do not rush after opportunities

- risk taking , risk management

- the desire for profit, personal benefit

- ways of production and resources

- management

- creating value

- the desire to grow

- go

- creating change

- owner

- responsibility/ authority

- creating a strategy

The main characteristics of the entrepreneur

- risk-taking

- ability to see and evaluate opportunities

- creating value

- evaluation of idle resources

- rewriting the game rules

Basic functions of the entrepreneur

- organising and ensuring production

- providing a variety of products

- job creation

- creating new sundays and new sales methods

- providing capital accumulation

Advantages of entrepreneurship

- independence

- a sense of accomplishment

- achieving respectability

- making a profit

- his contribution to personal development

Disadvantages of entrepreneurship:

*entrepreneurs do not have full freedom, although they seem to be the boss of their own business. It is under pressure from investors , customers and public authorities.

• when specializing in a specific field such as marketing, financing or personnel in an enterprise established by an entrepreneur, entrepreneurs must manage all the functions of the enterprise.

* entrepreneurs often have to give up expectations, sign up for big projects that they want to do and dream about. Because their capacity to do business is limited by the available resources.

• the entrepreneur is engaged in opening a business and at the risk of the enterprise. There is also no guarantee that he will be able to earn enough money to continue his activities and survive. There is a high level of work stress.

* entrepreneurs cannot always make a profit on their activities. Although this is their goal, sometimes they have to endure damage by not achieving this goal.

• the entrepreneur has no working hours. Especially at the initial stage, almost the entire day is spent at work. Long working hours not only destroy all the energy of the entrepreneur, but also steal it from the time of his personal life.

• the entrepreneur experiences failures before achieving success. Many entrepreneurs commit major failures several times before they succeed. as a result of long efforts, failure is a process that destroys the entrepreneur in a financial and psychological sense. Gaining self-confidence again, in a sense, starting from scratch requires high motivation. It works with the risk of losing all its capital.

• the difficult pace of work also brings with it some physical problems. Stress-related disorders such as indigestion, lower back and back pains, ulcers, insomnia and severe headaches are observed in many entrepreneurs.

• the fact that an entrepreneur has to work intensively and at a long pace causes him to make only personal sacrifices. This situation also negatively affects his family relations. Tensions and high levels of stress arise in family relationships. Therefore, when establishing a business, the entrepreneur must estimate the extent to which he can make sacrifices to establish his business.

* deteriorating family relationships occur, especially with the stress of starting a new job that the family does not approve of. The stress of entering a new and risky job or failing also negatively affects its structure and divorces are increasing.

* entrepreneurs may constantly face situations that create instability and stress, that is, uncertainties. Trying to cope with uncertainties is different than taking risks. While risk is perceived differently according to each person, uncertainty is a situation that cannot be fully structured or catagorized because it does not have enough space by the individual.

* entrepreneurship is a difficult and long-term process. Entrepreneurship has its disadvantages as well as its advantages. When the advantages outweigh, entrepreneurs prepare themselves for new projects.

The success factors of entrepreneurship :

Entrepreneurial success is defined as the pleasure that an entrepreneur will receive when he achieves his goals and objectives, as well as being defined as qualitatively jun returns and faster growth.

The most studied concepts of approaches that address the personal characteristics of the entrepreneur and focus on personality should be the need to succeed and the risk. It is the probability of success that provides the motivation of the entrepreneur for success. The measurement of the entrepreneur's achievement of his goals is his achievements. Success can be best understood in four ways that affect each other ;

1- the performance of the enterprise

2- people who have expectations from the initiative

3- the nature of these expectations

4- actual results according to expectations

Every attempt is different. However, the success factors affecting successful initiatives are common.

1- the entrepreneur takes advantage of an important opportunity discovered by the entrepreneur .

2- the innovation on which the initiative is based should be effective and diverse.

3- the entrepreneur has the right knowledge and skills to establish an enterprise in order to take advantage of the opportunity.

4- entrepreneurs should include the right people in the business.

5- there should be a learning culture in the enterprise established by the entrepreneur.

6- entrepreneurs and people working with them should use the network effectively, which the organization considers to affect itself well.

7- the entrepreneur is obliged to attract financial resources from investors and must operate these resources as effectively as possible in order to further the initiative.

8- the entrepreneur must recognize the expectations of all stakeholders of the enterprise and manage them effectively.

Voluntary responsibility = additional responsibility that distinguishes the enterprise from competitors or reflects the individual standards of the entrepreneur.

Moral responsibility = meeting masculine and cultural expectations.

Legal responsibility = working within the framework of the law.

Economic responsibility = the production of goods and services for profit.

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Avatar for Seri
Written by   31
2 months ago
Topics: Freedom, Work, Business, Profit, Success, ...
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Comments

Your article on Entrepreneur deserves commendation and applause. Keep it up. Stay blessed

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2 months ago

thank you very much for your kind comment, dear. I will share a lot about entrepreneurship. stand by. wish you healthy days.

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2 months ago