FUNDAMENTALS OF ENTREPRENEURSHIP

This course focuses on preparing you to run a successful business. In this course, you will learn how to identify, assess and develop a business plan as well as how to find and evaluate business opportunities.

Entrepreneurship has become an indispensable ingredient for economic development in modern day societies plagued with unemployment poverty, underdevelopment with their attendant consequences. According to Alvaro, Domingo and Salnador (2001) its importance manifests in exploiting business opportunities, creation of new firms, making old ones more dynamic and driving the economy forward through innovation, competence, job creation and improvement of the well being of the society. 

Economic circumstances, social networks, marketing, finance public agencies, entrepreneurial teams  are all important, but none of there will create a new venture alone; for that, a person is needed in whose  mind  all the possibilities come together,  a person who believes that innovation is possible and also has the motivation to persist until the job is done.’

The key characteristics involved in getting the job done is thus initiated by an act of human volition which occurs at the level of individual firm, involving a change of state, which is holistic, dynamic, unique with numerous antecedent variables. The concept of this creator of new ventures and opportunities has undergone various conceptual definitions for years. An entrepreneur is a decision maker that bears uncertainties to make profits. 

An enterpreneur primarily finances the firm, bears risks and makes supervisory and co-ordination decisions. He is an innovator, a lively and active economic agent who processes knowledge and information. An enterpreneur sometimes gives capital to a firm, who understands technology and is able to transfer knowledge into a tradable product that meets the needs of customers.