Definition of Entrepreneurship, Characteristics, Purpose, Characteristics and Benefits

Definition of Entrepreneurship, Characteristics, Purpose, Characteristics, Stages and Benefits – What is the Definition of Entrepreneurship?, On this occasion About the knowledge.co.id will discuss it and of course other things that also cover it. Let's look at the discussion together in the article below to better understand it.

Definition of Entrepreneurship, Characteristics, Purpose, Characteristics, Stages, and Benefits

Entrepreneurship is an attitude or ability that creates or creates something new and of value that is beneficial to himself and others. Whereas for people who have the spirit, attitude and attitude to behave and the ability to entrepreneurship is called entrepreneurship

Entrepreneurship is the process of doing and creating something new creatively and full of innovation so that it can benefit others and have added value.

Entrepreneurship is the mental attitude of someone who has creativity, is active, creates the power to make something unique and new and can benefit many people. Entrepreneurship has a dynamic process of creating something with grace, capital, resources and risk. Entrepreneurship is a process of developing, identifying, realizing a vision and mission in life.

Entrepreneurial Goals

• Open new jobs for other people and help them become self-employed.
• Create a new business network that can absorb a large number of workers.
• Improving the welfare of his life and that of the community in businesses that are carried out by creating jobs.
• Transmit and develop an entrepreneurial spirit in others.
• Helping young entrepreneurs to be creative and innovative.

Characteristics of Entrepreneurship

• Be Honest

To start a business or business, the main thing you have to do is uphold an honest attitude. As an entrepreneur, you must be trustworthy and avoid all fraudulent and deceitful actions, both with business partners, consumers, and the parties involved.

• Instill Discipline

Before you lead others, lead yourself first. Instilling an attitude of discipline and order in oneself aims so that when running a business or business it can run smoothly and in an orderly manner.

• High Commitment

Stick to the commitments you made. Have clear and definite principles so that the business or business you are in can develop and run smoothly.

• Have a Creative Attitudeand Innovative

To become an entrepreneur, creativity and innovation in developing business products is very important for you to do. This is to prepare oneself to face intense business and market competition.

Creativity is needed to attract public interest in the products you sell. For the sake of the continuity of the business that you run, also have an innovative attitude and always update the products that you produce.

Make breakthroughs and innovations in the products you make in an effort to increase the profits you will get and keep your business loved by consumers.

• Independent

Instill an independent attitude in yourself by not depending on the decisions of others. As a business actor as well as a business leader, you must have an independent attitude and be able to make decisions in running a business.

The explanation about entrepreneurship above can be used as additional knowledge for you to get into the business world. You have to be sensitive and be able to create chances. Hone your skills and be open to suggestions or criticism from others.

Characteristics of Entrepreneurship

Entrepreneurs drive a country's economy towards development and progress. Everyone has their own path to success. However, there are some traits and characteristics that all successful entrepreneurs share.

Let's look at some of the following features:

• Vision and passion

Entrepreneurs must have a very clear business vision. So, if you are an entrepreneur, you must have the ability to plan long-term and short-term goals and objectives. You must be able to map out future plans clearly and efficiently.

Another very important trait in an entrepreneur is being passionate about work. Entrepreneurship is hard work and long hours, so you have to be passionate about what you do. Such passion can translate into hard work and success.

• Innovative

One of the main characteristics of entrepreneurship is innovation. Entrepreneurs look for opportunities in the market and take advantage of them. Entrepreneurs are people who launch new products and services in the market to try to satisfy customer needs. Innovations can also be made in production processes, new marketing strategies, innovative advertising, etc.

• Risk Taker

Risk is an integral part of any new business. But it is a very important factor in entrepreneurship because here the entrepreneur takes all the business risks. So we need an entrepreneur who has a personality that dares to take risks.

• Leader

One of the other important qualities of a successful entrepreneur is leadership. All good entrepreneurs are good leaders. Entrepreneurs have the ability to motivate and guide employees towards success.

Entrepreneurs also have tenacity, knowledge and skills, and can pull a company from a narrow perspective like a good leader.

• Ethical

Ethics and integrity are the cornerstones of long term business success. A sustainable business cannot be run by someone with compromised morals.

So, every credible business must have ethical entrepreneurs who uphold the law and business integrity.

Entrepreneurship Stages

The following are the stages of entrepreneurship including:

• Getting Started Stage

That is the stage where someone who intends to do business by preparing everything needed, starting with new business opportunities, making acquisitions, or doing "franchises". At this stage, the type of business to be run is also selected, whether the business will be carried out in agriculture, industry, or in the service sector.

• Stages of Doing Business

In this stage an entrepreneur manages various aspects related to his business, including aspects: sources financing, Human Resources (HR), ownership, administration, and leadership which includes decision making, marketing and evaluation.

• Stages of Maintaining Business

The stage where the entrepreneur analyzes the results that have been achieved for further research in accordance with the conditions faced so that the business being carried out continues.

• Stages of Business Development

Namely the stage where if the results are positive or can last a long time, business development is an option that can be taken. So that business in this field is growing.

Entrepreneurship Benefits

• Optimizing yourself

In entrepreneurship, we must have a strong mentality that can spur our inner potential. Likewise, when we plan profits for the company we have, inevitably we will try to be even better.

• Showing ourselves that we can lead our own company

When entrepreneurship we will face various kinds of challenges, including in our ability to lead the company and the people who work for us. With entrepreneurship, we will learn to apply our leadership in managing the company.

• The emergence of opportunities to achieve profits from every result of our hard work

By becoming an entrepreneur, you will automatically be your own boss too. If we get the maximum benefit from the results of hard work, it will be a motivation for ourselves to achieve even more benefits.

• Adding jobs to people in need

Increasing employment is actually a major function in the entrepreneurial world because when we set up a business or company, we need people to help us with our work. So indirectly we have created new jobs for people who need jobs.

• Helping the surrounding community with concrete and clear business activities

Entrepreneurship will help the people around us to meet all their needs that were previously difficult to fulfill. For example, if you open a meatball shop in your neighborhood, areas with difficult access to their needs will be greatly helped by the stalls you create.

• Opportunities to earn unlimited profits

In contrast to people who work in other people's companies, an entrepreneur will get benefits or benefits that can exceed the limit. Because in becoming an entrepreneur, the profit you get depends on the work and business you spend.

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