ENTREPRENEURSHIP DEVELOPMENT

Entrepreneurship is both exciting and chalJanging. It is also fassinating. Many people want to start their businesses but it is very difficult to run then the world of entrepreneurship is glamrous if you are successful and painful when you fail. But the development and progress of the society largely depends on dynamic and successful entrepreneurs. Entrepreneurs are agents of change. A person in the changing world can become successful entrepreneur only when he pursues opportunities, undertakes invovation and attempts growth. John D. Rockfeller started his career as a clerk at the age of 16 and saved some money till he was 23. I-le started the oil refinery and later owned 90% of oil business in America becoming one of the richest man in the world. Henry Ford who invented Model-I Automobile was a machinist from Detroit created on of the largest companies in the world. Mr. Narayan Murthy of Infosys, Bill Gates of Microsoft and Late Dhirbhai Ambani of Reliance are the examples of successful _entrepreneurs who not only created wealth but contributed to the growth of the society. These success stories are attributed to the dynamism of persons, using opportunities at the right time, undertaking innovation and above all the vision which they had. To develop enterpreneurship, we need to create an environment that makes people think independently and select businesses that interest them. Self-confidence, determination, perseverance, goal - orientation, creativity, quick action and innovation and urge to grow are the qualities that develop good entrepreneurs. Entrepreneurship generates lot of money but it is always risky. There is a risk of going out of business or of losing money. Enterpreneurs face uncertain and irregular incomes. Long and irregular hours of work are a part of entrepreneurship. Entrepreneurs need to make all decisions by themselves. They cannot blame anyone else for their mistakes. The 21st century is a century of entrepreneurs. Globalisation has generated new opportunities. Traditional businesses are becoming outdated. An average life-span of business is declining. The characteristics of businesses are changing very fast. There are many challanges entrepreneurs have to face. People who understand these challanges and face then alone will survive and entrepreneurship will develop. Let us examine these challanges.