Entrepreneurship

The word entrepreneur derived from the French word entreprendre, which means 'to undertake', in a business language, it means to start a business.

Entrepreneurship means:

- new products

- new markets

- new production methods

- new forms of organization

Everyone is an entrepreneur because he/she is selling his/her own brand means personality. We are selling our personality at every minute: at meeting with others, at giving presentations, and talking to strangers and etc.

Entrepreneur is a person of very high aptitude who brings change and leads foundations, entrepreneurial characteristics found in only a small fraction of population.

Seven characteristics of a good entrepreneur:

Spiritual development

Relationship building

Contribution to mankind

Personal development

Self actualization

Developing your health

Financial independence

The practice of entrepreneurship by an employee within an organization is called Intrapreneurship. Intrapreneur is an individual employed by an organization who is continuously express his ideas. If the ideas of intrapreneur are discouraged by the company then he/she might be leave and start his/her own business.

Example of Intrapreneurship:

John Warnock and Charles Geschke; founders of Adobe, were employees of Xereox. They were become frustrated because their new product ideas were discouraged badly, so they quit Xerox in the early 1980's and started their own business. Currently Adobe is a well known brand in graphic designing, movie making and file sharing.

Importance of entrepreneurship:

Entrepreneurial activity and the expected financial gain both are always in the beneficial of a country. If you have entrepreneurial skills then you will recognize a true opportunity while going through in life. You as a entrepreneur start a new business that will generates profit for you and benefit for the state; it will automatically improve the economic condition of your country or state by many ways as; employment opportunities, products or services for people of that country, their need fulfillment and better live style etc.

International Entrepreneurship:

International entrepreneurship is the practice of entrepreneurship across national borders that can help in creating quality future goods and services.

It is the combination of proactive and risk taking behavior that crosses national borders and responsible to create value in global organizations.