Question

what you have learned about entrepreneurship. Please respond in 300 words.

Answer 1

Answer-Entrepreneurship-It means the process of planning , designing, and by the implementation running as a business with risk of uncertainties whether there will be profit in the future or business will be in loss.  In the process of entrepreneurship, an entrepreneur thinks to create a business structure after the business structure he/she tries his/her best to implement their thoughts in the business. The main motive for the establishment of entrepreneurship is to create profit and it is profit motive also.

There are mainly four kinds of entrepreneurial organizations--

1. Start-up businesses-It is a kind of business which is newly formed by the group entrepreneurs to develop a new concept product and services in the economy . The budget of startups are generally low in nature or these type of businesses are supported or financed by the investors . The number of employees in the start-up is also very limited.

2. Small Businesses-These businesses are not newly formed these business already exists in the economy, these types of businesses are very small in nature, these type of organizations is also having few number of employees, sole proprietorship, partnership in small scale are some example of small business.

3. Large Companies-These businesses are large in the number of the production process as well as there is a large number of employees who work in these companies. Large businesses are run by big entrepreneurs of the country and these type of companies contributes most in the economic developments.

4. Social Entrepreneurship-These entrepreneurship are established with the motive of not for profit organization, this entrepreneurship is established by both private and public sector for the welfare of the society or for the social development of citizens of the country. These organizations are medium size in nature ,funded and supported by the government authorities also.