Entrepreneurship – Definition and Practice – Marketing Pro

Entrepreneurship is defined in two ways : the idea of entrepreneurship and the entrepreneurial activity that are the activities initiated by the entrepreneur.

1- DEFINITION OF ENTREPRENEUSHIP

Entrepreneurship as the name suggests is the action to undertake, i.e. organize activities that aim to solve a problem whether it is an economic, social or political problem.

Entrepreneurship differs from common activities in that it is initiated by a person who will be called an entrepreneur, the centre of the business, the one who is at the origin of any activity that takes place inside and in relation to the company that he created. In other words, he is the founder.

However, there are not only companies to earn income at the end of the year. we have several types of entrepreneurship, the details of which we will see later.

Entrepreneurship
ENTREPRENEURSHIP

2- THE DIFFERENT TYPES OF ENTREPRENEURSHIP

The entrepreneur is the founder, the initiator who has an idea and issues an action plan to carry it out with the aim of providing solutions and creating in the long run employees who will be able to assist him in carrying out his tasks. so he’s a JOB CREATOR.

1- ECONOMIC ENTREPRENEURSHIP

In the objectives of his company, these can be solutions to improve the states of companies. It is entrepreneurship BUSINESS TO BUSINESS.

It can be a solution that improves people’s lives or daily lives. It’s BUSINESS TO CONSUMER entrepreneurship

It can be a solution that solves the problems of public order the construction of roads, the construction of hospitals, the construction of public drilling… it is business entrepreneurship TO GOVERNMENT. This type of contractor proceeds by tender to which he applies for election. They are high-capacity entrepreneurs.

2- SOCIAL ENTREPRENEURSHIP

It may be a solution that solves a social problem. Example: Religious hospitals with preferential rates, non-governmental organizations (NGOs) that provide assistance to the homeless and orphans. It is social entrepreneurship that has no apparent objective of generating income (profits) but of helping others. These entrepreneurs usually draw their source from willingly. So it is NON LUCRATIF PURPOSE.

3- POLITICAL ENTREPRENEURSHIP

According to wikipedia, On this definition a political entrepreneur is a business entrepreneur who seeks to gain profit through subsidies, protectionism, government contracts, or other such favorable arrangements with government(s) through political influence (also known as corporate welfare).

Source : https://en.wikipedia.org/wiki/Political_entrepreneur

In other words, political entrepreneurship is about detecting a problem in society and raising it at the governmental level so that it can be solved in a sustainable way.

ENTREPRENEURSHIP
ENTREPRENEURSHIP

3- WHY AND HOW TO UNDERTAKE?

1- WHY UNDERTAKE?

It is true for all those who have passed the university milestone that it is difficult to think about entrepreneurship out of school. With all this knowledge and diplomas, we think directly of an office in a big box that will welcome us. It is all very well to have all these dreams that drive our daily lives, but in reality, it is not always obvious that things are going as we would have liked. So there’s a solution, entrepreneurship.

Entrepreneurship can be seen as a difficult thing because you think you have to have a lot of capital to get started. Coming out of school without a fixed income, we are afraid to face this side that we think is for the giants. Certainly no activity starts without capital beforehand but it all depends on the area in which you want to practice.

We take a simple example: A craftsman who makes baskets and exhibits them for sale is a business entrepreneur to consumer and if he is to deliver to a company he is a business to business entrepreneur.

He knows how to make baskets (intellectual capital) make them through raw material (financial capital) and deliver them to individuals or companies (consumers) and generates a personal benefit.

The second example is that a trader who buys the raw material from a wholesaler and delivers it to a finished products company is still an entrepreneur even though he does not have the intellectual capital of the moment he buys from his personal account to resell to a company that is the intermediate consumer in order to generate a margin.

Third example: a shopkeeper who buys jewelry from a wholesaler for display in her shop or sell it to customers is a business to consumer entrepreneur because she delivers her products directly to the end consumer (consumer who makes it use without transforming it to resell or resell it directly to other customers)

In other words, to undertake is to work for one’s own personal account and to generate income (for-profit entrepreneurship).

Entrepreneurship
ENTREPRENEURSHIP

Entrepreneurship is part of the practices of people who love autonomy, it is a good alternative to unemployment when we know that thousands of people have graduated ie the workforce is greater than the job offer. The safest question now you ask yourself is: « What area am I going to undertake? »

Well yes it’s a small problem when you have crossed the threshold of the profession. We refer the question to you by saying : What is your knowledge or ability to solve a problem in society? When you answer this question, you will have found what you can do. We are in economic (profitable) entrepreneurship.

It all depends on your area of choice. Once you know what you want to do, the next step is to do a market study to analyze your strengths and weaknesses.

2- HOW TO UNDERTAKE?

As stated above, to be the winner of your policy, you need to do a market study in order to be aware of your competitors, the market trend, the financing and the profit that your business will bring.

A good entrepreneur is one who knows his competitors and follows them without copying them but emerging from competitive strategies.

If from your studies you do not find the result interesting, it is not too late you can still change activity. Focus on observing society, the people they need most, even look at the companies, what services do they outsource to other companies? ask yourself how can I be useful for a company or a person’s day-to-day life? When you answer these questions you will have the solution to activities that can bring in income. Just don’t forget this sentence:

In all activities, there is a study to be done beforehand to find out why to do it, how to do it and where to do it. However, growth is gradual.

Finally, we conclude that, the entrepreneur is the one who is always on the lookout for knowledge to constantly improve his business in order to be able to innovate his techniques and services when we know that consumer habits are changing and the technology is constantly growing.

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