INTRODUCTION TO ENTREPRENEURSHIP

Often, we tend to witness vividly these situations where for example, we look at a person or a group of people spending their money to purchase items or goods and have them displayed inside every corner of their stores, or someone who procure raw materials and process them into finished goods until they are distributed to various places, or perhaps a certain number of individuals who have been running their business services and waiting for potential customers who may inquire some information regarding the types of services that they offer. Then, in a certain period of working hours (for example, let say in the afternoon), they begin to count the amount of their earnings and expenses incurred to point where they attempt to calculate their amount of profitability and loss. Assuming that if the money generated appears to be greater than it is spent, it is referred to earning the business profitability. However, if it is in the opposite side, it is called having the business loss.

Generally speaking, we can notice that the above activities are very common to take place in any business transactions. However, if we get to explore and examine them carefully, those activities in fact implement certain particular skills such as time-management, selecting raw materials, and rendering goods to consumers. Thus, it is clear that business activities run are expected to be well carried out in processing, packaging, and creating a product which is demanded by societies. Needless to say, it is referred to the way of how capable of a business entrepreneur in reading the desires, the needs, and the preferences of potential customers.

Moreover, when we look at business owners in a broader scale, we may notice that they also appear to be having a knack for discharging duties and giving orders to their employees by outlining tasks and responsibilities. With that being said, the employees in that case must be obliged to run the command rendered by their owners. Such an expertise in carrying out activities without feeling awkward, terrified, or even ashamed are considered to be an everyday menu to entrepreneurs. In performing entrepreneurial activities, for instance, they do not require to wait for orders, but rather than instructing their subordinates to execute a business transaction. And they do this merely on the basis of either from their own experience, or learning from the experience of others.

So from there, it is obvious enough that an entrepreneur is practically a risk-taker or a person who dares to take risks through the creation of a certain business activity in various occasions. In other words, to have a certain degree of courage to be a risk taker means that being autonomous in terms of mind-set and the person must be capable of initiating his or her business without being overwhelmed by fear, anxiety, and the conditions of uncertainty.

Finally, the typical examples of entrepreneurial activities can either be done alone or in groups, where the aim is to attempt seeking, leveraging, and creating business opportunities which can provide greater benefits. The risk of incurring loss is not uncommon in a business world because it holds the principle of fundamental entrepreneurship, in which there must be a loss factor in order to generate revenues. Regardless of this given circumstance, there is not a single term that seems to be fit to alternatively describe a loss factor, notably the minute when a person runs a business with courage and thorough considerations. After all, it is all the above facets which are literally viewed as the spirit of being an entrepreneur.