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CHARACTERISTICS OF ENTREPRENEURSHIP

The following are the main characteristics of entrepreneurship:-

ECONOMIC ACTIVITY - Economic activity means that activity which  is associated with certain monetary rewards because entrepreneurship also includes creation and operation of an enterprise. so it is an economic activity.

INITIATIVE ACTIVITY - It is an initiative activity because the enterprise takes the form of the initiator by business, ideas which are already being use in developed economies.

GOAL ORIENTED- Entrepreneurship is always goal oriented. it aims at generating personal and financial gains. the concept of social entrepreneurship is also taking place, where the objective is uplift of weaker section of society

GAP FILLING FUNCTION- The job of the fill the gap between knowledge and information. entrepreneur combines all the input. thus, he performs the function of gap filling.

MANAGERIAL SKILL- An entrepreneur uses all the managerial skills of motivation. leadership etc for running the enterprise efficiently and effectively.

RISK-BEARING- Entrepreneurship is always risk bearing. to minimise the risk factor, an entrepreneur shifts the resources from the area of low productivity to the area of high productivity.

DYNAMIC PROCESS- Entrepreneurship is a dynamic process. It involves responding the changing conditions and making use of new technology for his benefits.
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