The capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit. The most obvious example of entrepreneurship is the starting of new businesses Entrepreneurship is an important engine of growth in the economy.
But besides this, this is a too risky Field because people who want to start up there business only 5-10% will succeed but that doesn’t mean you stop thinking about that when you start this than you have to work too hard for your dreams.
In this also you have to work with a team who work for you effortlessly because they are the wheels of your vehicle if any wheel would damage than your business will be effected.
Many of companies who’s business is around hundreds of crores are a small start up at there beginning like Flipkart, Uber, Ola, Mahendra’s, Snapdeal, Olx but now days these are a precedent to new entrepreneurs.
Entrepreneurial spirit is characterized by innovation and risk-taking. While entrepreneurship is often associated with new, small, for-profit start-ups, entrepreneurial behavior can be seen in small-, medium- and large-sized firms, new and established firms and in for-profit and not-for-profit organizations, including voluntary sector groups, charitable organizations and government.
For example, in the 2000s, the field of social entrepreneurship has been identified, in which entrepreneurs combine business activities with humanitarian, environmental or community goals.
Leadership and Communication:
Leadership and communication are constantly growing together, being intertwined into one another to help develop an organization. To be an effective leader, communication has to be defined in the organization for it to be successful.
Gary Yukl defines leadership as, “The process of influencing others to understand and agree about what needs to be done and how to do it, and the process of facilitating individual and collective efforts to accomplish shared objectives”.
Lack of Transactional Process:
To accomplish shared objectives, communication has to be a transactional process that allows for a constant cycle of information to be sent from source/receiver and vice versa. As leaders continue to send and receive information, building relationships with the followers allows for a bond to be made.
Bonding with followers:
Through the bond being made it allows for the followers to share their values, and thoughts for example; this gives them a sense of affiliation because the leader is being concerned about his/her employees.
Once an organization is able to define leadership and communication, it can begin to advance to the structure of the organization.