Rohit Dubey

What is entrepreneurship? What are the scopes of entrepreneurship in present scenario?


by Rohit Dubey
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RE: What is entrepreneurship? What are the scopes of entrepreneurship in present scenario?

Surabhi Dewra
Surabhi Dewra
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Entrepreneurship and scope of entrepreneurship

You have a plan and you want to start your own business. You want to challenge yourself instead of working for your boss. Then you are into 
entrepreneurship. It is gambling where you will win if you have the right card in your hand.

Probably you know Bill gates for Microsoft, Steve Jobs for Macs, iPhones and Mark Zuckerberg for Facebook, and the  scope of entrepreneurship in india is rising also people are now willing to take risk .
Now the question is can anyone be the Bill gates or Mark Zuckerberg? No, that requires some basic skills.

Assuming that an entrepreneur has the required sound knowledge to start their own venture, then the first and foremost quality needed is the tolerance for taking risks.
Consequences can be positive and also negative.

Table Contents

1.  About Entrepreneurship

2.  Scope of Entrepreneurship in India

3.  Characteristics of Scope of Entrepreneurship

4.  Eligibility Criteria for Entrepreneurship

5.  Top Colleges For Entrepreneurship in Abroad

6.  Top Colleges For Entrepreneurship in India

When the own money or else’s involved, the risk will always be there starting a business with your innovation. The scope of entrepreneurship in india also requires creativity in thinking. Either work is being done differently or there is something very new to offer to the mass to change the way they live.

The goal is to promote the all new way to manage life better.

There is another skill that an entrepreneur must have and that is to take the initiative to lead. He acts before he is being told or pushed. He  drives himself. He knows his dreams and he is the one and only one who will fulfil those dreams.

And last but not the least, the entrepreneurship is directly related to the independence to take the dream to the peak alone. There will be no one for backup. As said by Peter Drucker, It is practice, based on knowledge. The process of entrepreneurship flows as below.

About Entrepreneurship

The fact is, these days the lifestyle of people has changed drastically. Youths are highly educated and achieving specialized skills. But the good jobs are lacking these days. Today’s generation has the requisite knowledge base to accept the entrepreneurial challenge.

This makes educated young talents look for an independent career path and their skills are also worthy of it.

As an entrepreneur, you should always know what is to be done. And that should always consider the field, where you have sheer interests.

There would be a requirement for support, background, and experiences.

It is to be always kept in mind that the choice should match the expertise. Then it is required to have the financial resources to implement the plan in reality.

The supply of enough money is an essential part to materialize the dream. There is always a need to identify the unexplored market needs and also to identify the existing problems that can be solved.

The new ventures always need the support of network and connections to make it known to people. Gradually, with the popularity of the ventures, sourcing capital would be an easier task.

Scope of Entrepreneurship in India

The scope of entrepreneurship in india is tremendous in a developing country like India. The unemployment in the country is rising day by day.

The problem of under-employment is also added to that. As per the report of Labour Bureau, the employment rate is 5% in 2015-2016, highest in last five years.

The percentage is higher in the case of women at 8.7% than men at 4.3%. As per the 5th all -India annual employment-unemployment survey under United Parcel Service (UPS) , the estimated unemployment rate was 5%. The solace is to promote the entrepreneurial activities in the country.

There are of course strong reasons behind choosing this career path by the young generation.

People are ambitious and wish to control the future.

There is the scope of more profits.

The country is suffering from unemployment problem and opportunity for alternative career options are lacking. Is committed to promoting entrepreneurship at a larger level.

To the direction of generating employment opportunity for 10crore people, the Planning Commission have also strongly recommended the self-employment to channelize the unemployed youth in its report.


The Govt. of India, State Govt. and various country and state level organizations are also offering support to nurture entrepreneurship through different schemes and programs.

Here, to mention Maharashtra Economic Development Council (MEDC), that has focussed on the development of entrepreneurship by research and training in this field.

It has also resulted into another dimension. The scope of entrepreneurship in india and entrepreneurship has taken place in the curriculum of the management colleges.

The apex institutions have started organizing workshops and seminars on entrepreneurship. Thus, the overall movement of entrepreneurship development has started in the country and is expected to gain huge momentum in the near future.

For further queries and related information, you can approach the Professional Experts at CareerGuide.

Hope this will help you!

Characteristics of Scope of Entrepreneurship

Characteristics of Entrepreneurship

Entrepreneurship refers to the act of starting and running a new business venture in order to make a profit.

It involves identifying a need in the market, developing a unique product or service to meet that need, and taking on the risks and challenges involved in building a successful company.

Entrepreneurs are often viewed as visionaries who see opportunities where others see problems, and who are willing to take calculated risks to bring their ideas to life.

The entrepreneurial process typically begins with an idea for a product or service, which is then developed into a business plan.

This plan outlines the steps that need to be taken to bring the idea to market, including securing funding, building a team, and creating a marketing strategy.

Entrepreneurs must also be prepared to face the challenges that come with starting a new business, such as competition, limited resources, and regulatory hurdles.

One of the key traits of successful entrepreneurs is their ability to be resilient in the face of adversity.

They are able to adapt to changing market conditions, pivot their strategies, and keep moving forward even when faced with setbacks.

This combination of creativity, determination, and adaptability is what sets entrepreneurs apart and enables them to create new opportunities and drive economic growth.

Entrepreneurs play a crucial role in driving innovation and creating jobs, as well as generating wealth and economic prosperity.

They are often seen as the lifeblood of a dynamic and growing economy, and are widely recognized for their ability to disrupt traditional business models and create new industries.

However, starting a business can be risky, and not all entrepreneurs are successful.

Those who do succeed often do so through hard work, perseverance, and a deep understanding of their customers and the market.

In conclusion, scope of entrepreneurship in india is a key driver of economic growth and development. It is a process that requires creativity, determination, and resilience, as well as a deep understanding of the market and a willingness to take risks.

By creating new products and services, and by disrupting traditional business models, entrepreneurs have the power to shape the future and drive economic progress.

Eligibility Criteria for Entrepreneurship

There is no specific educational requirement or degree necessary to become an entrepreneur.

However, many successful entrepreneurs have at least a basic understanding of business concepts and the market they are entering.

Some have formal education in business or a related field, while others have gained their knowledge and experience through work and life experience.

In general, the eligibility criteria for entrepreneurship and scope of entrepreneurship in india include:

1.Passion and drive: scope of entrepreneurship in india requires a lot of hard work, dedication, and determination. It is important to have a deep passion for your business idea and the drive to see it through to success.

2. Problem-solving skills: Entrepreneurs must be able to identify and solve problems that arise in their businesses, and be creative and resourceful in finding solutions.

3. Financial acumen:Entrepreneurs must have a basic understanding of finance and be able to create and manage a budget, raise funds, and make smart financial decisions for their business.

4. Marketing and sales skills : Entrepreneurs must be able to effectively Marketing and sales skills and sell their products or services in order to build a customer base and grow their business.

6. Networking skills: Building a network of contacts and relationships can be critical to the success of a new business, and entrepreneurs must be able to build and maintain strong relationships with customers, partners, and investors.

7.Risk tolerance: Starting a business can be risky, and entrepreneurs must be willing to take calculated risks and be prepared to face the challenges that come with building a new company.

While there is no one specific set of qualifications that is necessary to become an entrepreneur, the most successful entrepreneurs typically possess a combination of passion, drive, problem-solving skills, financial acumen, marketing and sales skills, networking skills, and a willingness to take risks, Scope of entrepreneurship.

Top Colleges For Entrepreneurship in Abroad

Entrepreneurship is a popular field of study, and there are many colleges and universities around the world that offer programs and courses dedicated to this area.

Some of the top colleges for entrepreneurship include:

1.Stanford University -Stanford University Graduate School of Business has a strong reputation for producing successful entrepreneurs, including the co-founders of companies like Google, Yahoo!, and PayPal.

2. Harvard Business School - Harvard Business School is well-known for its entrepreneurship programs, which provide students with hands-on experience and access to a wide network of successful entrepreneurs and investors.

3. MIT Sloan School of Management - MIT Sloan School of Management has a strong focus on innovation and entrepreneurship, and is home to several research centers dedicated to these areas.

4. University of Pennsylvania Wharton School - The Wharton School at the University of Pennsylvania has a long history of producing successful entrepreneurs and has a thriving entrepreneurship program.

5. Babson College - Babson College is widely regarded as one of the best colleges for entrepreneurship, with a curriculum that emphasizes hands-on learning and real-world experience.

These colleges offer a range of programs and resources for aspiring entrepreneurs, including courses, mentorship opportunities, and access to funding and investment networks.

By studying entrepreneurship at one of these top colleges, students have the opportunity to develop the skills and connections they need to start and grow their own successful businesses.

Top Colleges For Entrepreneurship in India

India has a thriving entrepreneurial ecosystem and there are several colleges and universities that offer programs and courses dedicated to entrepreneurship.

Some of the top colleges for entrepreneurship in India include:

1.Indian Institute of Management (IIM) Ahmedabad - Indian Institute of Management (IIM) Ahmedabad has a strong reputation for producing successful entrepreneurs and has a dedicated center for innovation and entrepreneurship.

2. Indian School of Business (ISB) - The Indian School of Business (ISB) has a thriving entrepreneurship program and provides students with access to a wide network of successful entrepreneurs and investors.

3.Xavier Labour Relations Institute (XLRI) Jamshedpur - Xavier Labour Relations Institute (XLRI) Jamshedpur is one of India's oldest business schools and has a strong focus on entrepreneurship in india and innovation.

4. SP Jain Institute of Management and Research (SPJIMR) - SP Jain Institute of Management and Research (SPJIMR) has a dedicated center for scope of entrepreneurship in india and innovation, and provides students with hands-on experience and access to funding and investment networks.

5. Management Development Institute (MDI) Gurgaon - Management Development Institute (MDI) Gurgaon is a top-ranked business school in India and has a strong focus on entrepreneurship, with a range of programs and resources for aspiring entrepreneurs.

Scope of entrepreneurship, These colleges offer a range of programs and resources for aspiring entrepreneurs, including courses, mentorship opportunities, and access to funding and investment networks.

By studying scope of entrepreneurship in India, students have the opportunity to develop the skills and connections they need to start and grow their own successful businesses in one of the world's largest and most dynamic economies.

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RE: What is entrepreneurship? What are the scopes of entrepreneurship in present scenario?

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Caching Date: 7/20/2024 12:10:27 PM