Here is an essay on ‘Entrepreneur’ for class 11 and 12. Find paragraphs, long and short essays on ‘Entrepreneur’ especially written for school and college students.
Essay on Entrepreneur
- Essay on the Meaning of Entrepreneur
- Essay on the Profile of an Entrepreneur
- Essay on the Functions of an Entrepreneur
- Essay on the Qualities of Entrepreneur
- Essay on the Failure of Entrepreneur
- Essay on Entrepreneurial Development
- Essay on Export Promotion and Entrepreneur
- Essay on the Expectations from Entrepreneurs
Essay # 1. Meaning of Entrepreneur:
The word entrepreneur has its origin in the French language. It refers to the organiser of musical or other entertainments. An entrepreneur is one who organises, manages, and assumes the risks of an enterprise. An entrepreneur visualises a business, takes bold steps to establish undertaking, coordinates the various factors of production and gives it a start.
Entrepreneurs are the owners of the business Who Contribute the capital and bear the risk of uncertainties in business life. Entrepreneur is action – oriented and highly motivated. He has the ability to evaluate business opportunities, to gather the necessary resources to take advantage of them and to initiate appropriate action to ensure success. Entrepreneur is associated with innovations.
He is the main factor of production. Entrepreneur takes decision regarding what to produce, how to produce, where to produce and for whom to produce. He mobilises other factors of production namely, land, labour, capital, organisation and initiates production process. He is responsible for both the profit or the loss. In India, Birla, Tata, Modi are big entrepreneurs.
Essay # 2. Profile of an Entrepreneur:
The following list of characteristics and Traits provides a working profile of entrepreneurs:
The list includes traits that an entrepreneur should possess. He may not need all these traits, but the more he has, the greater chance there is of his being a successful entrepreneur.
Essay # 3. Functions of an Entrepreneur:
1. He manages business and takes decisions,
2. He studies the market and selects the business.
3. He makes a selection of plant size.
4. He selects plant site.
5. He organises sales and holds the customers.
6. He promotes new inventions.
7. He coordinates different factors of production.
8. He arranges raw material, machinery and finance.
9. He employs labourers.
10. He deals with government departments such as sales tax, labour, electricity, export-import, railways etc.
11. He decides pricing policies.
12. He distributes wages of labourers, interest to the capitalist etc.
Essay # 4. Qualities of Entrepreneur:
i. Risk taking ability.
ii. High level of motivation.
iii. Business acumen.
iv. Self-confidence and positive self-concept.
v. Leadership qualities.
vii. Managerial Competence.
viii. Problem solving.
ix. Ability to perceive opportunities and threats.
x. Realistic approach to planning.
xi. Independence of thought and action.
Essay # 5. Failure of Entrepreneur:
Different factors contributing to the failure of entrepreneurial ventures are as follows:
1. Poor Management:
(b) Unbalanced experience.
(c) Inexperience in management.
(d) Inexperience in line.
2. Production Problems:
(a) Lack of production planning and control.
(b) Frequent Machine breakdowns.
(c) Poor raw material.
(d) Power cuts.
(e) Labour problems.
(f) Lack of technical knowhow.
(g) Insufficient quality control.
(h) Wastage in material.
(i) High rate of rejection, etc.
3. High Fixed Cost:
(a) Heavy investment in land and building.
(b) Increased administrative and other overheads.
(c) Market borrowing at nigh interest rate etc.
4. Marketing Problems:
(a) Competition from larger and already established units.
(b) Insufficient sales force.
(c) Low quality of finished goods.
(d) Recession etc.
5. Financial Problems:
(a) Allowing long credits to the purchasers of finished goods.
(b) Diversion of short term funds into long term uses.
(c) Willful diversion of funds for investments in assets not connected with production.
6. Neglect of business.
Essay # 6. Entrepreneurial Development:
The main objective of the entrepreneurial development schemes is to motivate and assist prospective and potential entrepreneurs to set up small scale units of their own and thereby become self-employed and continue to contribute significantly to production and employment in the country.
Entrepreneurial development programmes increase entrepreneurial spirit and provide scope for self-development by focusing attention on the self and on self-directed motivational change. In order to motivate engineers to take up industrial ventures, an interest subsidy scheme was started in 1974 as one of the follow-up assistance measures of the engineers training programme.
It envisages financial assistance to the trained engineers in the form of subsidy on interest payments on loans taken by them from any of the recognised financial institutions for the acquisition of fixed assets. The scheme was subsequently liberalized in 1976 to cover non-trained engineers also for setting up their units.
With the new Thrust for the development of Industries in backward areas and for promoting the weaker sections Small Industries Development organisation (SIDO) diversified its entrepreneurship training programmes in the year 1978-79 to serve new categories of entrepreneurs like rural artisans, educated unemployed, weaker sections of the society, women entrepreneurs, students and physically handicapped persons and defence personnel.
The entrepreneurial development training programmes for the non-engineers are broadly divided into two categories:
(a) Identification, selection and motivation of entrepreneurs, and
(b) Entrepreneurial development training programme for:
(a) Rural artisans,
(iii) Weaker sections of society,
(iv) Educated unemployed,
(v) Physically handicapped, including blind persons,
(vi) Defence personnel,
(vii) Students, etc.
Essay # 7. Export Promotion by Entrepreneur:
Export development in the small scale sector has been accorded high priority in the economic strategy of the country as it results in creation of more employment opportunities, ensures utilisation of capacity for production and improves the quality of products, apart from bringing the much needed foreign exchange.
Apart from direct exports, products of a large number of small scale units are exported indirectly through merchant exporters, export houses, etc. Parts and components from small scale sector which are part of the finished products are also being exported by large units.
Small Industries Development organisation (SIDO) through its network of Small Industries Service Institutes (SISIs) and Extension Centres throughout India provides assistance for promotion of exports of SSI (Small Scale Industry) products.
The activities in this regard include dissemination of information about:
(1) Foreign markets,
(2) Consultancy services in matters of export procedures for claiming replenishment,
(3) Identification of small scale units already possessing necessary equipment and skills to undertake production of items having export potential,
(4) Organising of training programme on export marketing,
(5) Maintaining liaison with concerned export development agencies, and
(6) Meetings and seminars on export promotion etc.
Small Industry Export Bulletin covering important areas of interest to exporters continued to be brought out by SIDO. Information on export prospects, Govt., policy announcements and procedures relevant to small industry exports, market/commodity reports prepared by professional agencies, etc. were included in these bulletins.
Essay # 8. Expectations from Entrepreneurs:
It is expected from the entrepreneurs that they will help:
1. Increase number of industries.
2. Increase production.
3. Increase employment opportunities.
4. Earn foreign exchange through exports.
5. Develop the underdeveloped parts of the country.
6. Economic development.