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Negina
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What does the term "Entrepreneurship" mean to you?
August 29, 2008 - 08:07 AM
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As an entrepreneur how would you define "Entrepreneurship" based on your past experiences and meaning you attach to that specific word?
-Looking for commonalities and differences in answers.
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Zohal
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Re: What does the term "Entrepreneurship" mean to you?
August 29, 2008 - 09:47 AM
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In some places it is defined as ''Entrepreneurship is the practice of starting new organizations or revitalizing mature organizations, particularly new businesses generally in response to identified opportunities. Entrepreneurship is often a difficult undertaking, as a vast majority of new businesses fail. Entrepreneurial activities are substantially different depending on the type of organization that is being started. Entrepreneurship ranges in scale from solo projects (even involving the entrepreneur only part-time) to major undertakings creating many job opportunities. Many "high-profile" entrepreneurial ventures seek venture capital or angel funding in order to raise capital to build the business. Angel investors generally seek returns of 20-30% and more extensive involvement in the business.[1] Many kinds of organizations now exist to support would-be entrepreneurs, including specialized government agencies, business incubators, science parks, and some NGOs.''
In Mariam webster it is defined as the '' one who organizes, manages, and assumes the risks of a business or enterprise''
From my experience the word intrepreneur means the founder or the responsible of a project and intreprenuership is economic ingredeint that stimulates economic growth and employment opportunities in all societies. Like the different small business that help in developing the economic growth and providing new job opportunities.
This post was edited on: 2008-08-29 at 09:54 AM by: watan
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Negina
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Re: What does the term "Entrepreneurship" mean to you?
August 30, 2008 - 05:27 AM
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All taken into account, thanks for the idiea! I may need more answers from others to keep this thread alive. Will need to restructure this into an interview-like question for my small research.
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Zohal
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Re: What does the term "Entrepreneurship" mean to you?
August 30, 2008 - 11:57 AM
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Hey yeah
you welcome. That is great keep it up
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mclato
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Re: What does the term "Entrepreneurship" mean to you?
September 1, 2008 - 01:51 PM
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COnsidering the era we are now, i would define "Enterpreneurship" as creativity. Being able to start-up something newly that would bring positive turnaround.
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Negina
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Re: What does the term "Entrepreneurship" mean to you?
September 2, 2008 - 12:53 PM
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Thanks much, i think what you are describing is the common definition known across all parts of the world. It is also the most true representation of the word 'entrepreneurship' traditionally.
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Dallas Gislason
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Re: What does the term "Entrepreneurship" mean to you?
January 9, 2009 - 12:21 PM
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unyimeabasi wrote:
COnsidering the era we are now, i would define "Enterpreneurship" as creativity. Being able to start-up something newly that would bring positive turnaround.
I would add that entrepreneurship is a combination of "creativity" and "efficacy"-which means one's belief that they can accomplish their goals. Creativity by itself does not mean entrepreneurship--even the word "innovation"-which means a improved product or way or doing things (i.e. taking creativity to a commerical setting) does not even mean entrepreneurship. Most R&D projects need entrepreneurs to partner with them to make their ideas viable.
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Dee
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Re: What does the term "Entrepreneurship" mean to you?
April 6, 2009 - 06:21 PM
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I would say: doing something different that you are skilled at and enjoy doing.
There is a saying that "if you love what you do, you will never work a day in your life"
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Wangchuk Chungyalpa
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Re: What does the term "Entrepreneurship" mean to you?
April 13, 2009 - 02:41 PM
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In its contextual description an entrepreneur is an individual who invests his time, capital and knowledge to produce or provide a product or a service that he hopes to sell at a profit in a given market. In the process, he is willing to incur loans and liabilities and carry risks.
However to me entrepreneurism can be defined as:
* Responsibility
* Freedom
* Empowerment
* Ambition
One of my biggest insights has been the role of businesses and therefore of entreprenurism as one of the primary economical, social and cultural institutes. Businesses can be catalyst of change and a center for innovation and new ideas. In the following paragraph, I briefly examine the role of business in the above capacities.
Business as economic institutions:
Business is economy. All activities of a business is economic in nature. The business sector constitutes the largest contributor to a nation’s GDP. Other sectors include the public and government sector, the educational sector, the non-profit sector etc.
Business as Social institutions
Generally speaking, it is the non-profit sector that are the true social institutes, however, businesses can also champion social causes. There are a number of ways businesses can be viewed as social institutions:
cont'd below due to text limitation.....
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Wangchuk Chungyalpa
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Re: What does the term "Entrepreneurship" mean to you?
April 13, 2009 - 02:41 PM
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• Support social cause:
This has traditionally been the most popular method for businesses. They provide financial grants and donations to various social causes. Not all businesses, even successful ones, champion social causes. Those that do can be seen as fulfilling their social obligations and as social institutions.
• Promote social values and causes:
Businesses can also serve as a advertising platform to advertise social values and issues. For example, businesses can actively advertise about safe and environmentally friendly practices, promote recycling, sponsor community events and in general promote awareness on various social issues.
• Needs centered:
Businesses can champion social causes by actively providing products and services to address those social shortcomings, that is, becoming “needs centered” as opposed to “market centered”. In being needs centered, businesses evaluate options based on the social needs within a given community not what is demanded at the local market. For examples, even if the current market trend stresses strong demand for computerized casinos, socially oriented businesses would offer products and services to support the local cottage industry.
• Agents of change:
Businesses can be the catalyst of change by incorporating new ideas and practices, new methodology and techniques, by pioneering new business models and much more. For example, self service, custom made products, after sales service, onsite support service, horizontal/lateral organizational structure, outsourcing practices etc.
Cultural institute
• Cultural centre:
Businesses can also serve as cultural centers by actively preserving the cultural traditions. For example, many restaurants serve food in traditional forms using traditional utensils, such as, banana leafs, clay pots, traditional décor and sitting arrangements etc.
• Cultural products and services:
Businesses can directly serve as cultural centers by selling cultural products and services. For example, handicrafts and handlooms, local cuisines etc.
This post was edited on: 2009-04-13 at 02:44 PM by: Wangchuk
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jasireen
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Re: What does the term "Entrepreneurship" mean to you?
May 25, 2009 - 03:44 PM
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It is imagination: Mind projection.It is a mind of self control,self discpline,the practical application of the mind to reality.Entrepreneurship is a science and an art of organzing,directing,managing,mobilizing producing resources and offering services to a multitude.You manage and control your destiny to the very end
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Morgan
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Re: What does the term
September 14, 2009 - 01:51 PM
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Entrepreneurship, to me, means that somebody/someone with a creative/unique idea takes it to the next level and makes it into a product.
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Dee
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Re: What does the term "Entrepreneurship" mean to you?
September 14, 2009 - 03:44 PM
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Mind projection sounds very interesting.
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