ASSINGMENT

NAME : IABC

REG NO: BS5476558

SUBMITTID TO: SYED ADNAN SHAH

SUBJECT : ENTREPRENEURSHIP

 WHAT IS ENTREPREUNEUSHIP ?
Entrepreneurship is the act of
creating a business or businesses while building and scaling it to generate a
profit.However, as a basic entrepreneurship definition, it’s a bit limiting. The more
modern entrepreneurship definition is also about transforming the world by solving
big problems. Like initiating social change, creating an innovative product or
presenting a new life-changing solution.

What the entrepreneurship definition

doesn’t tell you is that entrepreneurship is what people do to take their career and
dreams into their hands and lead it in the direction of their own choice. It’s about
building a life on your own terms. No bosses. No restricting schedules. And no one
holding you back. Entrepreneurs are able to take the first step into making the
world a better place, for everyone in it.

The meaning of entrepreneurship involves an entrepreneur who takes action to

make a change in the world. Whether startup entrepreneurs solve a problem that
many struggle with each day, bring people together in a way no one has before, or
build something revolutionary that advances society, they all have one thing in
common: action.It’s not some idea that’s stuck in your head. Entrepreneurs take
the idea and execute it. Entrepreneurship is about execution of ideas.

 WHAT IS IMPORTANCE OF ENTREPRENEURSHIP ?

. What is entrepreneurship really about? And why’s it so important? An entrepreneur is the
person who sees a problem in the world and immediately focuses on creating the solution.
They’re the leaders that strike out on their own to improve society. Whether they’re creating jobs
or a new product, they constantly take action to ensure world progress. In the process of
understanding what is entrepreneurship, let’s look at why entrepreneurs are important in societ.

 Entrepreneurs create jobs:

Without entrepreneurs, jobs wouldn’t exist.
Entrepreneurs take on the risk to employ themselves. Their ambition to
continue their business’ growth eventually leads to the creation of new jobs.
As their business continues to grow, even more jobs are created. Thus,
lowering unemployment rates while helping people feed their families.

 Entrepreneurs innovate: 
 Some of the greatest technologies in today’s
society have come from businesses. The technological advances come out
of a need to solve a problem, create efficiencies, or improve the world.
Thus, in periods where there’s more advancement in technology, it’s
usually due to the work of an entrepreneur.

 Entrepreneurs create change:

 Entrepreneurs dream big so naturally some
of their ideas will make worldwide change. They might create a new
product that solves a burning problem or take on the challenge to explore
something never explored before. Many believe in improving the world
with their products, ideas or businesses.

 Entrepreneurs give to society: 

While some have this notion of the rich being
evil and greedy, they often do more for the greater good than the average
person. They make more money and thus pay more in taxes which helps fund
social services. Entrepreneurs are some of the biggest donors to charities and
nonprofits for various causes. Some seek to invest their money in creating
solutions to help poorer communities have access to things we take for granted
like clean drinking water and good health care.

 Entrepreneurship decreases poverty:

 In the spirit of sharing good news,
more people are being pulled out of poverty today than ever before. This is
likely due to globalization. Being able to connect to millions and billions of
people on the internet allows new entrepreneurs to find customers around the
 world. So, those who want to make money online are able to do so to get out
of poverty.

 Entrepreneurs add to national income:

Entrepreneurship generates new
wealth in an economy. New ideas and improved products or services from
entrepreneurs allow for the growth of new markets and new wealth to be
created in an economy. Adding to that, increased level of employment and
earnings add to the national income.