OBSTACLES INHIBITING ENTREPRENEURSHIP:
Entrepreneurship development is greatly hindered in the less developed nations due to the presence of several obstacles.
In the developed nations the environment is most ideal for entrepreneurship. So also the presence of aggressive entrepreneurs has made the society in these
countries realize their vital importance in economic development.
Unfortunately in the most less developed nation the role of entrepreneurship in the progress of the country has not been fully realized.
High risk involved in new enterprise.
Low status of businessmen in the eyes of public.
An unwillingness to devote organizational abilities to business purposes.
Restrictive effects of customs and tradition.
Lack of adequate response to monetary incentives.
Arbitrary changes in the administration of law by the government, which spread the element of uncertainty among entrepreneurs.
Market imperfections which deny potential entrepreneurs the resources they need for organizing new enterprises.
Overall Objectives for a Course in Entrepreneurship
Understand the role of new and smaller firms in the economy.
Understand the relative strengths and weaknesses of different types of enterprises.
Know the general characteristics of an entrepreneurial process.
Assess the student’s own entrepreneurial skills.
Understand the entrepreneurial process and the product planning and development process.
Know alternative methods for identifying and evaluating business opportunities and the factors that support and inhibit creativity.
Develop an ability to form, organize, and work in interdisciplinary teams.
Characteristics of Entrepreneurs
Self Reliant
Self starters and confident in making decisions
Don’t wait for someone to tell them what to do.
Possess
Drive, persistence, ability to complete tasks, and willing to work hard. They are opportunity-focused and forward-looking.
Characteristics of Entrepreneurs
Passion
Care more about what they are doing than how much money they can make
“If your mind can conceive it, and your heart can believe it, then you can achieve it!”
Self Confidence
Successful entrepreneurs believe that they are capable of success and also that they are worthy of success.
Entrepreneurship development is greatly hindered in the less developed nations due to the presence of several obstacles.
In the developed nations the environment is most ideal for entrepreneurship. So also the presence of aggressive entrepreneurs has made the society in these
countries realize their vital importance in economic development.
Unfortunately in the most less developed nation the role of entrepreneurship in the progress of the country has not been fully realized.
Obstacles inhibiting development of entrepreneurship are:
Lack of sufficient infrastructure and high cost of production.
High risk involved in new enterprise.
Low status of businessmen in the eyes of public.
An unwillingness to devote organizational abilities to business purposes.
Restrictive effects of customs and tradition.
Lack of adequate response to monetary incentives.
Arbitrary changes in the administration of law by the government, which spread the element of uncertainty among entrepreneurs.
Market imperfections which deny potential entrepreneurs the resources they need for organizing new enterprises.
Overall Objectives for a Course in Entrepreneurship
Understand the role of new and smaller firms in the economy.
Understand the relative strengths and weaknesses of different types of enterprises.
Know the general characteristics of an entrepreneurial process.
Assess the student’s own entrepreneurial skills.
Understand the entrepreneurial process and the product planning and development process.
Know alternative methods for identifying and evaluating business opportunities and the factors that support and inhibit creativity.
Develop an ability to form, organize, and work in interdisciplinary teams.
Characteristics of Entrepreneurs
Self Reliant
Self starters and confident in making decisions
Don’t wait for someone to tell them what to do.
Possess
Drive, persistence, ability to complete tasks, and willing to work hard. They are opportunity-focused and forward-looking.
Characteristics of Entrepreneurs
Passion
Care more about what they are doing than how much money they can make
“If your mind can conceive it, and your heart can believe it, then you can achieve it!”
Self Confidence
Successful entrepreneurs believe that they are capable of success and also that they are worthy of success.