ENTREPRENEURSHIP ASSIGNMENT

By-Romika dhingra
183046
B.com 3rd year

Q1:-“Entrepreneurship is a process of giving birth to an enterprise “Discuss.

A.1:- Entrepreneurship is the ability and readiness to develop, organize and run a business
enterprise, along with any of its uncertainties in order to make a profit. The most prominent
example of entrepreneurship is the starting of new businesses. In economics, entrepreneurship
connected with land, labour, natural resources and capital can generate a profit. The
entrepreneurial vision is defined by discovery and risk-taking and is an indispensable part of a
nation’s capacity to succeed in an ever-changing and more competitive global marketplace.

R.M. Hodgetts said, “Entrepreneurship is the process of organizing, managing, and

assuring the risk of a business”.
An entrepreneur is an individual who creates a new business, bearing most of the risks and
enjoying most of the rewards. ... Entrepreneurs who prove to be successful in taking on the
risks of a startup are rewarded with profits, fame, and continued growth opportunities.The
entrepreneur is the one who initiates the process of creating an enterprise by coming up with the
idea for the business and planning  out how to turn that idea into a reality.

Entrepreneurs, as the people who start this type of enterprises are called, design and launch a
business, with the objective of making profit. But for their objectives to materialise, they must
be prepared to take on business risks, organise, manage and develop the business.

For any business to become successful, funding, good business decisions, creation of demand
even during economic crisis and having a strong and dedicated workforce, are critical.

An entrepreneur is the person who is responsible for the setting up of a new business or an
enterprise.He is an innovator who gives birth to a new kind of business enterprise.
He creates a new business venture. He also creates wealth and new employment opportunities
in a business field. Thus, it can be concluded that entrepreneurship is the process of giving birth
to an enterprise.

Entrepreneurs and entrepreneurship play a significant role in the socio-economic development

of the nation. Entrepreneurs set up enterprises and generate employment for people in their
enterprises. This helps in reducing unemployment, which is, the main causes of all socio-
economic problems as well as results in socio-economic problems as well as results in
 ENTREPRENEURSHIP ASSIGNMENT
By-Romika dhingra
183046
B.com 3rd year
increasing the total income of a country. Moreover, goods and services, produced by
entrepreneurs after meeting the domestic demand are exported to foreign countries to earn
foreign exchange. We are conscious that entrepreneurship is regarded as one of the four major
factors of production, the other three being land, labor, and capital. The most understandable
example of entrepreneurship is the starting of innovative businesses. Entrepreneurship is the
pursuit of the market opportunity to produce innovative goods and services. Once the
enterprise gets established the entrepreneurial process becomes effectively recurring progress
of opportunities. It becomes the process of allocating scarce resources judiciously to pursue
value-adding opportunities.

Hence, we can say that Entrepreneurship is the process of giving birth to a new enterprise.