Importance And Importance Of Entrepreneurship

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ENTREPRENEURSHIP

Entrepreneurship is the capacity and willingness to take risks and develop, organize and manage a business venture in a competitive global market which is constantly changing. Entrepreneurs are innovators, pioneers and future leaders who dares to take risk on their own and choose a path which no one has explored before.
Importance of entrepreneurship in immense in our economy. Entrepreneurship has a turbulence effect i.e. it acts as an indicator growth of an industry by indicating number of entry and exits in that particular sector. The number of newly added market participants in any industry will finally result in an economic growth. Entrepreneurship not only encourages self-employment but also helps to create new jobs and opportunity to produce additional goods that adds to nation’s GDP. Thus entrepreneurs help to increase both demand and supply side of the economy which as whole improves quality of life. For example Mr. Sunil Maheswary who founded Mango Technologies Pvt. Ltd. He quitted his job at Reliance Infocom and joined a startup. Then he designed first ‘Designed in India’ Hand set which was a dual SIM phone. After some time he along with his colleague Lekh joshi together stated Mango Technologies in 2006 with less than 10 lacs. The company provided software for Mobile phones. Later the company entered into a partnership with Texas Instruments and Qualcomm. The company had a vision to become number one mobile platform company. Mango Technologies also achieved some milestone like it got Nasscom’s most innovative company award in 2007-2008 and it came in top ten startup companies of 2008 in Mint and Wall Street Journal.
Entrepreneurship pyramid - has four levels, going from bottom to up we have
Level 1...

... middle of paper ...

...al goals.It tells that the profile of an entrepreneur should be a mixture of Self-confidence, Sense of freedom but very disciplined, Work hard-goal oriented, Recognize power of ‘emergence’ , egolessness, money lover. The Team composition which can achieve excellence along with the entrepreneur should have ability to pull one’s weight, should be complementary, made of multitasking who will have a shared vision, transparency, mutual trust,ability to question each other, resilience & sense of humor.But while working in startups one has to have certain qualities such as dealing with risk, harvest comes in long haul, work unsupervised, construct big picture but focus on small ,teamwork is critical ,work as per plan ,faith in yourself ,learn to accept & big joys in small things .
Anyone who has never made mistakes, Has never tried anything New – Albert Einstein

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