Entrepreneurship

                                                        Why ENTREPRENEURSHIP?
Entrepreneurship is a process of making business through various costumes to get profit from the costumer.so,the entrepreneurship mainly about the soft skills of making business run in an efficient way and to make the products or the goods viable to the people who buy the product from them.
In entrepreneurship you must have a good idea regarding the business you are doing.if your are not clear about that you cannot succeed in the business field.so make sure that you are in a supposition to make your idea and work efficient to start a business.

Concept of Entrepreneurship

Entrepreneurship is the ability and readiness to develop, organize and run a business enterprise along with any of its uncertainties in order to make a profit. The most prominent example of entrepreneurship is the starting of new businesses.

In economics, entrepreneurship connected with land, labour, natural resources and capital can generate a profit. The entrepreneurial vision is defined by discovery and risk-taking and is an indispensable part of a nation’s capacity to succeed in an ever-changing and more competitive global marketplace.

Meaning of Entrepreneur

The entrepreneur is defined as someone who has the ability and desire to establish, administer, and succeed in a startup venture along with risk entitled to it, to make profits. The best example of entrepreneurship is the starting of a new business venture. The entrepreneurs are often known as a source of new ideas or innovator, and bring new ideas in the market by replacing old with a new invention.

It can be classified into small or home business to multinational companies. In economics, the profits that an entrepreneur make is with a combination of land, natural resources, labour and capital.

In a nutshell, anyone who has the will and determination to start a new company and deals with all the risk entitled can become an Entrepreneur.

What are the 4 Types of Entrepreneurship?

It is classified into the following types:

Small Business Entrepreneurship-

These businesses are a hairdresser, grocery store, travel agent, consultant, carpenter, plumber, electrician, etc. These people run or own their own business and hire family members or local employee. For them, the profit would be able to feed their family and not making 100 million business or taking over an industry. They fund their business by taking small business loans or from friends and family.

Scalable Startup Entrepreneurship-

This start-up entrepreneur starts a business knowing that their vision can change the world. They attract investors who think and encourage people who think out of the box. The research focuses on a scalable business and experimental models so, hire the best and the brightest employees. They require more venture capital to fuel and back their project or business.

Large Company Entrepreneurship-

These huge companies have defined lifecycle. Most of these companies grow and sustain by offering new and innovative products that revolve around their main products. The change in technology, customer preferences, new competition, etc., build pressure for large companies to create an innovative product and sell it to the new set of customers in the new market. To cope up with the rapid technological changes, the existing organisation either buy innovation enterprises or attempt to construct the product internally.

Social Entrepreneurship-

This type of entrepreneurship focuses on producing product and services that resolve the social needs and problems. Their only motto and goal are to work for society and not make any profits.

Characteristics of Entrepreneurship:

Not all entrepreneurs are successful, there are definite characteristics that make entrepreneurship successful. Few of them are mentioned below:

• Ability to take a risk- Starting any new venture involves a considerable amount of failure risk. Therefore, an entrepreneur needs to be courageous and able to evaluate and take risks is an essential part of being an entrepreneur.
• Innovation- It should be highly innovative to generate new ideas, start a company, and earn profits out of it. Change can be the launching of a new product that is new to the market or a process that does the same thing but more efficient and economical way.
• Visionary and Leadership quality- To be successful, the entrepreneur should have a clear vision of his new venture. However, to turn the idea into reality a lot of resources and employees are required. Here, leadership quality is paramount because a leader imparts and guides their employees towards the right path of success.
• Open-Minded- In a business, every circumstance can be an opportunity and used for the benefit of a company. For example, Paytm recognised the gravity of demonetization and acknowledged the need for online transactions would be more, so it utilised the situation and expanded massively during this time.
• Flexible- An entrepreneur should be flexible and open to change according to the situation. To be on the top, a businessperson should be equipped to embrace change in a product and service as and when needed.
• Know your Product-A company owner should be the product offerings, and also the latest trend in the market. It is essential to know if the available product or service meets the demands of the current market, or it is time to tweak it a little. Being able to point on yourself and then alter as needed is a vital part of entrepreneurship.

• Importance of Entrepreneurship:

  
  
  
  
  
  
  
  • Creation of Employment- Entrepreneurship generates employment. It provides an entry-level job, required for gaining experience and training for unskilled workers.
  • Innovation- It is the hub of innovation that provides new product ventures, market, technology, and quality of goods, etc., and increase the standard of living of the people.
  • Impact on Society and Community Development- A society becomes greater if the employment base is large and diversified. It changes society and promotes facilities like higher expenditure on education, better sanitation, fewer slums, a higher level of homeownership. Therefore, entrepreneurship assists the organisation in a more stable and high quality of community life.
  • Increase Standard of Living- Entrepreneurship helps to improve the standard of living of a person by increasing the income. The standard of living means, increase in the number of consumption of various goods and services by a household for a particular period.
  • Supports research and development- New products and services need to be researched and tested before launching in the market. Therefore, an entrepreneur also dispenses finance for research and development with research institutions and universities. This promotes research, general construction, and development in the economy.

  • What we stand to lose by not teaching kids business 

    I believe there are innumerable people wired to be entrepreneurs who, for lack of opportunity, get stuck on a track that keeps them from capitalizing on their gifts. This is our loss as much as theirs — imagine if Elon Musk had been firmly pointed in a non-entrepreneurial direction as a child and had ended up as the CFO of a drug company rather than a revolutionizer of the auto industry, space travel, and payment systems. 
    There are Elon Musks out there who won’t make their mark because the entrepreneurial seed wasn’t planted when it stood the greatest chance of taking root and blossoming. There are tons of kids like me who will never tap into their talents because they were told they had no potential or because they had a difficult time following the rules.  
    But entrepreneurial types are notoriously deficient when it comes to orthodox behavior. They have an innate ability to think outside the box, which can render rigidly traditional approaches intensely boring. When kids are bored, they tend to act out. They don’t pay attention and their grades suffer. 
    But even kids without tons of business ability would benefit from a business education. Most small businesses fail because people find out they don’t have business ability the hard way. They attempt to start their own companies and when that doesn’t work out, it becomes a major financial (and emotional) setback. 
    Why Entrepreneurship should be taught in school?

    Building platforms 

    Beyond skills, the ability to think critically and creatively is what often separates the most successful from the average. They are learned platforms an individual can leverage to deliver value and outperform the competition. Blogs, vlogs and podcasts, on the other hand, are examples of platforms entrepreneurs use to reach potential customers. The idea is to combine the two types of platforms to influence the marketplace and make profit.
    Schools already teach content creation, but it's often outside of the realm of useful -- kids do it for a grade and little else. What if we replaced English essays with compelling blog posts? Argumentative writing supported with evidence is already taught in high school English and could be applied to a blog. With teachers no longer being the sole audience, the effectiveness of the student's arguments could be judged by metrics such as engagement numbers, reader or viewer or listener comments, and eventually product/service purchases.
    Our education system is responsible for preparing young people to build successful lives. They should be ready for the wide range of possibilities ahead of them, including working for others, starting their own ventures, and contributing to their communities. All of these options require a depth of knowledge in their chosen discipline, as well as creative problem solving skills, leadership abilities, experience working on effective teams, and adaptability in an ever-changing environment. It’s no coincidence that these are the same capabilities that employers say they want in college graduates. According to research conducted by National Association of Colleges and Employers, they are also the deciding factors when employers compare candidates with equivalent backgrounds.
    These skills are the cornerstones of entrepreneurship education, which explicitly prepares students to identify and address challenges and opportunities. Therefore, along with teaching traditional subjects, such as science, grammar, and history, that provide foundational knowledge, it’s imperative that we teach students to be entrepreneurial.
    Entrepreneurship education prepares students to identify and address challenges and opportunities.
    There are many who believe that entrepreneurship is an inborn trait that can’t be taught. This is simply not true. As with all skills, from math to music, learning to be entrepreneurial builds upon inborn traits. For example, learning to read and write taps in a baby’s natural ability to babble. Each baby learns to harness those noises to form words, connect words to compose sentences, and combine sentences to craft stories.
    Entrepreneurship can be taught using a similar scaffolding of skills, building upon our natural ability to imagine:
    • Imagination is envisioning things that don’t exist.
    • Creativity is applying imagination to address a challenge.
    • Innovation is applying creativity to generate unique solutions.
    • Entrepreneurship is applying innovations, scaling the ideas by inspiring others’ imagination.
    Using this framework, educators at all levels can help young people engage with the world around them and envision what might be different; experiment with creative solutions to the problems they encounter; hone their ability to reframe problems in order to come up with unique ideas; and then work persistently to scale their ideas by inspiring others to support their effort.
    After years teaching innovation and entrepreneurship at Stanford University School of Engineering, I can confidently assert that these skills can be learned and mastered. I’ve seen thousands of students at Stanford, and at schools around the world, transformed by courses and extracurricular programs. These include classes on creative problem solving and entrepreneurial leadership, as well as cross-campus innovation tournaments and new-venture competitions.
    We can all agree that these skills are much more difficult to measure than determining if a student knows all the state capitals or how to diagram a sentence. However, the fact that they are hard to measure doesn’t mean they aren’t equally important to teach. We shouldn’t shape the curriculum solely around subjects that can be easily evaluated on a standardized exam. As a quote attributed to William Bruce Cameron elegantly states, “Not everything that can be counted counts, and not everything that counts can be counted.” We shouldn’t be dissuaded from teaching entrepreneurship just because it is difficult to measure the impact in the short term.
    From my experience, it often takes years before the seeds of entrepreneurship education grow into projects or programs that are manifest in the world. In fact, most of the successful ventures started by our graduates are launched years after they complete their formal schooling. Yet, they credit their entrepreneurship education for preparing them to launch and lead those endeavors.
    Educators at all levels can help young people engage with the world around them and envision what might be different.
    There are compelling examples of educators who are successfully incorporating entrepreneurship education into traditional learning environments. Consider Don Wettrick, who teaches high school in Indiana. He gives his students a full class period each day to work on a project of their own choice, allowing them to master all the above skills. Students submit a proposal for their project, collaborate with outside experts to get input and feedback, keep a blog to document their progress, and present their project at the end of the course. Projects have included helping special needs students launch a coffee shop at the school, crafting an environmentally friendly plan for maintaining the school grounds, and building a transparent solar cell. No matter what project they choose, the students develop a valuable set of skills, which they’re able to apply to all aspects of their lives.
    Another example comes from our classroom at Stanford this past quarter where we challenged our students to redesign the experience of going from prison to freedom. Working with The Last Mile, an organization that teaches entrepreneurship at San Quentin State Prison, the students learned about the problems that former inmates face when they’re released. As part of the project, the students taught a class at the prison, interviewed dozens of people in the criminal justice system to understand their points of view, brainstormed to generate hundreds of ideas, and presented the most compelling solutions to a room full of stakeholders. This experience provided meaningful insights. For example, several teams realized that for many of the men, this was not a reentry process at all, but an entry process — they were much more like immigrants, entering a new world rather than returning to a world they once knew. This led to a variety of innovative and actionable solutions, several of which have already been implemented.
    These examples demonstrate that we can indeed teach entrepreneurship, preparing young people to see and seize opportunities around them. The skills they gain are critical for the organizations they will join in the future and for society at large. Most important, entrepreneurship education empowers young people to see the world as opportunity rich, and to craft the lives they dream to live.
    Our education system is responsible for preparing young people to build successful lives. They should be ready for the wide range of possibilities ahead of them, including working for others, starting their own ventures, and contributing to their communities. All of these options require a depth of knowledge in their chosen discipline, as well as creative problem solving skills, leadership abilities, experience working on effective teams, and adaptability in an ever-changing environment. It’s no coincidence that these are the same capabilities that employers say they want in college graduates. According to research conducted by National Association of Colleges and Employers, they are also the deciding factors when employers compare candidates with equivalent backgrounds.
    These skills are the cornerstones of entrepreneurship education, which explicitly prepares students to identify and address challenges and opportunities. Therefore, along with teaching traditional subjects, such as science, grammar, and history, that provide foundational knowledge, it’s imperative that we teach students to be entrepreneurial.
    Entrepreneurship education prepares students to identify and address challenges and opportunities.
    There are many who believe that entrepreneurship is an inborn trait that can’t be taught. This is simply not true. As with all skills, from math to music, learning to be entrepreneurial builds upon inborn traits. For example, learning to read and write taps in a baby’s natural ability to babble. Each baby learns to harness those noises to form words, connect words to compose sentences, and combine sentences to craft stories.
    Entrepreneurship can be taught using a similar scaffolding of skills, building upon our natural ability to imagine:
    • Imagination is envisioning things that don’t exist.
    • Creativity is applying imagination to address a challenge.
    • Innovation is applying creativity to generate unique solutions.
    • Entrepreneurship is applying innovations, scaling the ideas by inspiring others’ imagination.
    Using this framework, educators at all levels can help young people engage with the world around them and envision what might be different; experiment with creative solutions to the problems they encounter; hone their ability to reframe problems in order to come up with unique ideas; and then work persistently to scale their ideas by inspiring others to support their effort.
    After years teaching innovation and entrepreneurship at Stanford University School of Engineering, I can confidently assert that these skills can be learned and mastered. I’ve seen thousands of students at Stanford, and at schools around the world, transformed by courses and extracurricular programs. These include classes on creative problem solving and entrepreneurial leadership, as well as cross-campus innovation tournaments and new-venture competitions.
    We can all agree that these skills are much more difficult to measure than determining if a student knows all the state capitals or how to diagram a sentence. However, the fact that they are hard to measure doesn’t mean they aren’t equally important to teach. We shouldn’t shape the curriculum solely around subjects that can be easily evaluated on a standardized exam. As a quote attributed to William Bruce Cameron elegantly states, “Not everything that can be counted counts, and not everything that counts can be counted.” We shouldn’t be dissuaded from teaching entrepreneurship just because it is difficult to measure the impact in the short term.
    From my experience, it often takes years before the seeds of entrepreneurship education grow into projects or programs that are manifest in the world. In fact, most of the successful ventures started by our graduates are launched years after they complete their formal schooling. Yet, they credit their entrepreneurship education for preparing them to launch and lead those endeavors.
    Educators at all levels can help young people engage with the world around them and envision what might be different.
    There are compelling examples of educators who are successfully incorporating entrepreneurship education into traditional learning environments. Consider Don Wettrick, who teaches high school in Indiana. He gives his students a full class period each day to work on a project of their own choice, allowing them to master all the above skills. Students submit a proposal for their project, collaborate with outside experts to get input and feedback, keep a blog to document their progress, and present their project at the end of the course. Projects have included helping special needs students launch a coffee shop at the school, crafting an environmentally friendly plan for maintaining the school grounds, and building a transparent solar cell. No matter what project they choose, the students develop a valuable set of skills, which they’re able to apply to all aspects of their lives.
    Another example comes from our classroom at Stanford this past quarter where we challenged our students to redesign the experience of going from prison to freedom. Working with The Last Mile, an organization that teaches entrepreneurship at San Quentin State Prison, the students learned about the problems that former inmates face when they’re released. As part of the project, the students taught a class at the prison, interviewed dozens of people in the criminal justice system to understand their points of view, brainstormed to generate hundreds of ideas, and presented the most compelling solutions to a room full of stakeholders. This experience provided meaningful insights. For example, several teams realized that for many of the men, this was not a reentry process at all, but an entry process — they were much more like immigrants, entering a new world rather than returning to a world they once knew. This led to a variety of innovative and actionable solutions, several of which have already been implemented.
    These examples demonstrate that we can indeed teach entrepreneurship, preparing young people to see and seize opportunities around them. The skills they gain are critical for the organizations they will join in the future and for society at large. Most important, entrepreneurship education empowers young people to see the world as opportunity rich, and to craft the lives they dream to live.
                Our education system is responsible for preparing young people to build successful lives. They should be ready for the wide range of possibilities ahead of them, including working for others, starting their own ventures, and contributing to their communities. All of these options require a depth of knowledge in their chosen discipline, as well as creative problem solving skills, leadership abilities, experience working on effective teams, and adaptability in an ever-changing environment. It’s no coincidence that these are the same capabilities that employers say they want in college graduates. According to research conducted by National Association of Colleges and Employers, they are also the deciding factors when employers compare candidates with equivalent backgrounds.
    These skills are the cornerstones of entrepreneurship education, which explicitly prepares students to identify and address challenges and opportunities. Therefore, along with teaching traditional subjects, such as science, grammar, and history, that provide foundational knowledge, it’s imperative that we teach students to be entrepreneurial.
    Entrepreneurship education prepares students to identify and address challenges and opportunities.
    There are many who believe that entrepreneurship is an inborn trait that can’t be taught. This is simply not true. As with all skills, from math to music, learning to be entrepreneurial builds upon inborn traits. For example, learning to read and write taps in a baby’s natural ability to babble. Each baby learns to harness those noises to form words, connect words to compose sentences, and combine sentences to craft stories.
    Entrepreneurship can be taught using a similar scaffolding of skills, building upon our natural ability to imagine:
    • Imagination is envisioning things that don’t exist.
    • Creativity is applying imagination to address a challenge.
    • Innovation is applying creativity to generate unique solutions.
    • Entrepreneurship is applying innovations, scaling the ideas by inspiring others’ imagination.
    Using this framework, educators at all levels can help young people engage with the world around them and envision what might be different; experiment with creative solutions to the problems they encounter; hone their ability to reframe problems in order to come up with unique ideas; and then work persistently to scale their ideas by inspiring others to support their effort.
    After years teaching innovation and entrepreneurship at Stanford University School of Engineering, I can confidently assert that these skills can be learned and mastered. I’ve seen thousands of students at Stanford, and at schools around the world, transformed by courses and extracurricular programs. These include classes on creative problem solving and entrepreneurial leadership, as well as cross-campus innovation tournaments and new-venture competitions.
    We can all agree that these skills are much more difficult to measure than determining if a student knows all the state capitals or how to diagram a sentence. However, the fact that they are hard to measure doesn’t mean they aren’t equally important to teach. We shouldn’t shape the curriculum solely around subjects that can be easily evaluated on a standardized exam. As a quote attributed to William Bruce Cameron elegantly states, “Not everything that can be counted counts, and not everything that counts can be counted.” We shouldn’t be dissuaded from teaching entrepreneurship just because it is difficult to measure the impact in the short term.
    From my experience, it often takes years before the seeds of entrepreneurship education grow into projects or programs that are manifest in the world. In fact, most of the successful ventures started by our graduates are launched years after they complete their formal schooling. Yet, they credit their entrepreneurship education for preparing them to launch and lead those endeavors.
    Educators at all levels can help young people engage with the world around them and envision what might be different.
    There are compelling examples of educators who are successfully incorporating entrepreneurship education into traditional learning environments. Consider Don Wettrick, who teaches high school in Indiana. He gives his students a full class period each day to work on a project of their own choice, allowing them to master all the above skills. Students submit a proposal for their project, collaborate with outside experts to get input and feedback, keep a blog to document their progress, and present their project at the end of the course. Projects have included helping special needs students launch a coffee shop at the school, crafting an environmentally friendly plan for maintaining the school grounds, and building a transparent solar cell. No matter what project they choose, the students develop a valuable set of skills, which they’re able to apply to all aspects of their lives.
    Another example comes from our classroom at Stanford this past quarter where we challenged our students to redesign the experience of going from prison to freedom. Working with The Last Mile, an organization that teaches entrepreneurship at San Quentin State Prison, the students learned about the problems that former inmates face when they’re released. As part of the project, the students taught a class at the prison, interviewed dozens of people in the criminal justice system to understand their points of view, brainstormed to generate hundreds of ideas, and presented the most compelling solutions to a room full of stakeholders. This experience provided meaningful insights. For example, several teams realized that for many of the men, this was not a reentry process at all, but an entry process — they were much more like immigrants, entering a new world rather than returning to a world they once knew. This led to a variety of innovative and actionable solutions, several of which have already been implemented.
    These examples demonstrate that we can indeed teach entrepreneurship, preparing young people to see and seize opportunities around them. The skills they gain are critical for the organizations they will join in the future and for society at large. Most important, entrepreneurship education empowers young people to see the world as opportunity rich, and to craft the lives they dream to live.
    Posted by p.sasikanth from genius mind. 12-567postdtr.