ABHINAV RAJ

ENTERPRENEURSHIP

ENTERPRENEURSHIP 

"The eternal power has bestowed each of us with some destined work or assignment in our life."

There are numerous types of work and assignments which are being done by humans in his days to day life as a result of which the cycle of development of human life society and the civilization does not stop.Concurrently it is assumed that everyone has to work for their livelihood.When some king of employment.In the process some people work for themselves, some for others and some under others. If you are working for yourself independently and generating your own income rather than receiving salary, then you are self employed.

A self employed person establishes hoi own unit or firm to earn by implementing his own innovative ideas, applying his creativity and management skills and by generating his own resources. Self employment is working for your own job individually or collectively.

Individual who is determined to be self employed start his/her own venture with a sense of ownership is an 'Enterpreneur'. Those people run their own businesses, tastes the fruits of success and are also responsible for the failures. They dream for their enterprise to grow and are willing to do whatever it takes to turn their ideas into reality.

The aim of an 'Enterpreneur' is to create an enterprise. The process of transforming business concept into bigger business 3nterprise, by planning nad management skill is said to be an 'Enterpreneur'.

 TYPES OF BUSINESSES

Based on the types of work businesses can be classified as:

Service Business 

A service type of business is a commercial enterprise that accomplishes works for its client by providing intellect support or workmanship. The company is this type of business provides certain professional support to its customer. Businesses like restaurants, hardware/software repairing services, salon, interior designing services, banking etc. Typically, the owner gain lot of knowledge nad expertise before they begin their own business in the similar field.

Manufacturing Business

Manufacturing Business usually bus raw material with the intention of using them as ingredients in the making of new product. It combines raw material, labor and factory overheid it's production. The manufactured goods will then be sold yo customers. Hardware making is one of the example.

Hybrid Business

Hybrid businesses are the business in which the 'Enterpreneur'provide service along with the product. They are engaged in services and manufacturing as well. They neither offer pure in tangible nor pure tangible commodities. For example restaurants, they offer services in the form of dining experience and food served in the product.