The basic concept an entrepreneur need to know is the concepts of an enterprise. See full details after the cut.
Enterprise is a business venture that brings profit, moreover an enterprise is an unusual idea that is translated into a planned and implemented activity. Therefore, a given project or an undertakings can be referred to as an enterprise if some steps like Idea identification, planning, implementation, successful completion of an activity and accepting the reward are followed. Therefore, before you can be a successful entrepreneur you need to apply the above listed point to your enterprise. There are various forms in which enterprise exist, so as an entrepreneur, you need to figure out the form in which your enterprise will exist. The different forms in which enterprise exist includes private or public, profit or non-profit, formal or informal, individual or community, local or foreign, business or social, small or large, manufacturing or service, consumer or industrial. With the
above forms of enterprise, an entrepreneur must sit down and choose
the one he or she can handle efficiently to be successful in entrepreneurship.
Having chosen the form of the enterprise, another thing the entrepreneur need to consider is the size of the enterprise. The size of the enterprise can be determine by the capital employed and the number of workforce. The capital employed can be use as indices for classification into:
a. Micro/cottage industries
b. Small scale industries
c. Medium scale industries
d. Large scale industries.
No comments:
Post a Comment