These could be referred to as social skills. They are a set of skills that people use when interacting and communicating with one another. These skills show up in countless interactions, from public speaking, group projects and team presentations, to professional writing (work e-mails, contracts etc.) and talking with friends and business associates. Here are…
Timmons (1994) describes entrepreneurial mind (which means the attitudes and behaviour of successful entrepreneurs) as those people who are capable of hard work, and are driven by an intense commitment and determined perseverance. They see the cup half full rather than half empty, they strive for integrity, they burn with competitive desire to excel and win. They…
The entrepreneur has played several fundamental roles in economic development. Nevertheless, this may not have been possible if he did not possess some certain traits to distinguish him from other personalities. Entrepreneurial success depends on the management of your own self. For this you require certain traits, qualities or behavioral competencies. Barreto (1982) presents four groupings of the…
An entrepreneur is an individual who establishes a firm. Because of their importance in the modern economy, entrepreneurs should be at the heart of microeconomics. Entrepreneurs set up firms in response to economic incentives. In turn, firms create and operate markets that provide mechanisms of exchange for consumers. Firms also create and manage organizations that…
There is a pervasive tendency to equate entrepreneurship development (ED) with self-employment. Many self-employed individuals are indeed entrepreneurs, but the majority are not. Their businesses are simply microenterprises in the informal sector, with little growth potential. The promotion of self-employment is a worthwhile objective, but it should not be confused with ED. Entrepreneurship development programmes…
Adani Group was founded by Gautam Adani. He was born in 1962 in Ahmedabad, Gujarat in a Jain family. Gautam Adani moved to Mumbai, Maharashtra at a young age of 18. In the beginning of his career, he worked at Mahindra Brothers as a diamond sorter. After spending two years working as a diamond sorter he set up his own…
Launching a new product or service in the market is both exciting and a cautious effort on the part of the company. Before presenting the product to the masses, a few things are to be considered. Steps in Product Launch New strategies are required to get the attention one deserves. Following 10 steps are essential…
Growth strategies or method to expand business also engages acquisition of other businesses. In acquisition, a company purchases another company to expand its functions. A small company uses this type of strategy to bolster its product line and enter new markets. An acquisition growth strategy is very risky, but not as risky as a diversification…
Growth strategies in business involve diversification. By diversification, we mean a company selling new products in new markets. This type of strategy is highly prone to risk and losses. A small company acknowledges the plan carefully while utilizing a diversification growth strategy. Marketing research is important to identify if consumers in the new market will…
A small scale company can expand its line of products or add new features to increase sales and profits. When small companies use a product expansion technique, it is also referred as product development. The selling continues within the current market. A product expansion growth strategy basically works well when there is a change in…