Entreprenurship
An entrepreneur refers to a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk. Being a entreprenuer is the process of starting a business, usually a startup enterprise offering an innovative product, process or service.
The entrepreneur perceives an opportunity and often exhibits insterest in taking the decision to exploit the opportunity.
qualities of An entrepreneur
- Self-motivation
- Self-confidence
- Risk taker
- Curiosity
- Creative and innovative
- Keenness to learn
- Team player
- Opportunity seeker
- Optimistic
- Learns from mistakes
The qualities listed above will help an entrepreneur to critically think and make meaningful decisions so that they overcome all types of obstacles. Entrepreneurs make an effort to possess such attributes by taking risks and initiatives.
An entrepreneur is the owner or manager of a business enterprise who, by risk and initiative, attempts to make profits. Entrepreneurs have an opportunity to make an impact in the communities that they live in. It is important to build an entrepreneurship culture to make the business successful.
Characters of a good entreprenuer
- A planner
- Morally upright (integrity)
- Possess leadership skills
- Goal getter (sets goals)
- Meets obligations
- Good business communication skills
- Reliable
- Time conscious
Communication in Business
Entrepreneurs need communication skills to enhance the interaction between stakeholders who can be buyers, sellers, etc . Entrepreneurs play a very vital role in commerce today because they link clients to goods and services. They play an intermediary role and are expected to exhibit some characteristics during conversations with clients. They are expected to be polite, keen, cheerful and supportive.
The two way communication lines between the entrepreneur and the clients, allows the two to solve misunderstandings, place an order, enforce credit terms etc.
Business Ethics
Business ethics examines the virtuous principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations. Many companies the world over have developed a code of conduct to ensure that all employees stick to the standards of practice of business. These standards are a core set of values, governing all the relationships between the business and its stakeholders.
Ethical issues revolve around some of the following examples:
- Dealing with partners involved in illegal business
- Non-discrimination
- After sales service
- Truthful adverts
- Conflicts of interest
- Insider trading
- Treatment of staff members/employees
- Corruption
- Bribery
- Environmental responsibility
- Utmost good faith
