Topic: Entrepreneurship
Content:
Meaning of Entrepreneurship
Importance of Entrepreneurship
Types of Enterprises
Meaning of Entrepreneurship
Entrepreneurship can be 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. It is the process of starting a business or other organization.
Entrepreneurship is seen as an important course that needs to be taught in schools because it will bring about development that is necessary to meet the needs of the country.
The Entrepreneur
The entrepreneur is the individual or group of people who develops a business model, acquires the human and other required resources, and is fully responsible for its success or failure. The entrepreneur is referred to as the owner of the business.
The entrepreneur is the person who co-ordinates, controls and organizes the process of production in order to make profit. It is one of the factors of production
Importance of Entrepreneurship
Entrepreneurship can be in form of the following ways:
- Business: A business is any economic activity performed to produce goods or services that provide satisfaction for the consumers.
- Enterprise: An enterprise is a business set up by an individual or group of individuals or by a government for providing goods and services for a purpose. An enterprise can be private, public or voluntary agency enterprise.
- Public Enterprise: A public enterprise is a venture or an organization set up either the local, state or federal government for the provision of essential social services for the people. Examples: Nigerian Television Authority (NTA) Public Educational Institutions etc.
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