Entrepreneurship is the dynamic process of creating incremental wealth. The wealth is created by individuals who assume the major risks in terms of equity, time and/or career commitment or provide value for some product or service. The product or service may or may not be new or unique, but value must somehow be infused …
The concept of an entrepreneur is refined when principles and terms from a business, managerial, and personal perspective are considered. In almost all of the definitions of entrepreneurship, there is agreement that we are talking about a kind of behaviour that includes: Initiative takingThe organizing and reorganizing of social and economic mechanisms to turn resources …
Motivation is the driving force within people that get them to act in the ways they do. Entrepreneurial motivations are necessary steps of getting individuals to become entrepreneurs. Scholars have conducted various researches on entrepreneurial motivations and have come up with several factors that motivate people to become entrepreneurs. The standard issue with the concept …
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3 DOMINANT ROLES OF AN ENTREPRENEUR Entrepreneurs fulfill the following three dominant roles − ● Economic Change ● Social Change ● Technological Change These are referred to as behavioral roles. All entrepreneurs have these common characteristics and decide to become an entrepreneur due to the factors or circumstances in their lives which made them …
TYPES OF ENTREPRENEURS YOU NEED TO KNOW Based on their working relationship with the business environment they are functioning in, various types of entrepreneurs can be found. The chief categories are these four types of entrepreneurs, i.e. ● Innovative entrepreneurs, ● Imitating Entrepreneurs, ● Fabian Entrepreneurs, and ● Drone Entrepreneurs. Let us now discuss …
Have you ever wondered how ATMs come into existence? Who puts them there? And who’s earning that fee you’re charged every time you use one? If you read on to find out how you can start an ATM machine business yourself, all of those transaction fees could be going directly into your pocket. Let’s find …
The entrepreneurial ability in women in the world has witnessed steady and increasing economic standing in the society. Nigeria is recognized as one of the largest demographics in the world with over 180 million in the age group of 15-64. A Recent study found nearly half of the Nigerian entrepreneurs are women. Generally, expertise, understanding …
The Entrepreneurship Skills You Need To Build A Great Business What makes someone a successful entrepreneur? It certainly helps to have strong technology skills or expertise in a key area, but these are not defining characteristics of entrepreneurship. Instead, the key qualities are traits such as creativity, the ability to keep going in the …
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