Objective of Entrepreneurship

Objective of Entrepreneurship

The ability and action of an entrepreneur are known as entrepreneurship. On the other hand, Entrepreneurship is the study of taking a calculative risk in both creating new enterprise and managing the enterprise effectively and efficiently.

According to Khanka – “Entrepreneurship is a process involving various actions to be undertaken to establish an enterprise.”

Entrepreneurship is the process of designing, launching and running a new business it has been defined as the “…capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit.” Entrepreneurship is now a matter of debate and discussion. It is defined differently by different authors.

The objective of entrepreneurship: The objectives of entrepreneurship are –

  1. Develop and strengthen the quality of entrepreneurship.
  2. Removing unemployment.
  3. Enhancing industrial development.
  4. Developing industrially backward region.
  5. Select a project/product.
  6. Formulate the project.
  7. Understand the process and procedure involved in setting up small units.
  8. Know the sources of help and support available for starting a small-scale industry.
  9. Acquire the necessary managerial skill required to run the industrial unit.
  10. Know the pros and cons of being an entrepreneur.
  11. Helping the person to understand environmental changes and opportunities.
  12. Acquaint and appreciate the needed social responsibility/entrepreneurial discipline.