Skip to main content

Entrepreneur

List of top 10 Rich and successful businessman in India

India is home to some of the world’s most successful and influential businessmen. Here are ten of the most famous businessmen in India: 1. Mukesh Ambani  is the oldest son of Dhiru Bhai  Ambani and the chairman and owner of Reliance Industries. With a net worth of $56.6 billion, he is currently the richest person in India and the 13th richest person in the world (The world listing gets updated every time). Reliance Retail, Reliance Capital, Reliance Fresh, Reliance Petrol pump, Reliance Petroleum, Reliance Foundation, Reliance Digital, and many more, all this comes under the ownership and management of reliance industries. 2. Azim Premji is the chairman of Wipro Limited, an Indian IT firm. He is also an Indian billionaire, business tycoon, businessman, and philanthropist. With a net worth of $22.6 billion, he is the second richest person in India. 3. Gautam Adani is the founder and chairman of the Adani Group, a company engaged in port development and activities in India. He is also kn
Post a Comment

What is entrepreneur? Know the meaning and characteristics of entrepreneur in simple words!

Entrepreneur     


It is to be noted that entrepreneurs can be broadly classified into two types.
  • An economic entrepreneur who is driven by a profit objective.
  • A social entrepreneur who operates with the objective of social welfare.

In the year 1725, Richard Cantillon, a noted economist, developed one of the earliest theories on entrepreneurship and is regarded as the founder of the term 'entrepreneur'. He viewed an entrepreneur as a risk taker. 

He observed that merchants, farmers, and others buy at a certain price and sell at an uncertain price, operating at a risk.

According to me, an entrepreneur as a person who assumes the risk and returns with innovation and grows his/her business with an intention of earning higher profits. Social entrepreneurs are rarely seen in today's world.

CHARACTERISTICS AND QUALITIES OF ENTREPRENEUR

To become a successful entrepreneur, you need to have an all-rounding personality, which comprises of the followings.

1. Innovator:

  • Maybe you can introduce a new product in the market.
  •  Development of new production technology.
  • Creation of a new market/ entry in a new market. 
  • Development of new source of raw material.
  • Creation of a new organizational structure in any industry.

   All these assumptions are by Joseph A Schumpeter.

2. Decision-Making skills: A entrepreneur should know that the result of a decision can be positive or negative, but the outcome of not taking a decision is always negative.

So, a person who takes the right decision at the right time and implements it efficiently and effectively is a successful entrepreneur.


3. Open-Minded: Means free and frank approach to accepting someone's errors and making efforts to rectify the same.
You should be able to accept criticism, be willing to learn from past experiences and mistakes, and mold yourself for a better future.

4. Locus of Control: Julian Rotter developed the concept of locus of control.

It is an attribute that indicates the sense of control that a person has over life. It is an important aspect of personality. The locus control can be viewed from two angles:
  •  Internal locus of control, in which an individual believes his behavior is guided by personal decisions and efforts.
  • External locus of control, in which an individual believes his behavior is influenced by fate or other external factors.
Labels:

Comments

Post a Comment

Popular posts from this blog

Best games of all time for android mobile. Updated 2024

                     Games  you should try playing. The following is the list of android games you can consider checking your creativity,  problem-solving,   management, and critical thinking/strategic skills. *Note: The following games are not a part of any paid promotion, it's my personal suggestion. Games have been divided into 4 types: Creativity  Management Problem-solving Critical/strategic thinking The following listed are creative games & some of them  are related  to management as well.  The play. Google mentioned below takes you to google play-store where you can install the app. 1. Pocket Build (Simulation, Offline, Sandbox) Image Source - Google | Image by- play. google   This is an open-world game where you can create and build whatever you like.  In the sandbox mode of the game, playing as a character, assigning work to characters, and building things is the key  offering, which makes it unique from other games.  In this game, you can check your human resource m
Post a Comment
Read more

What is marketing mix? click to know 4p's and 7p's of marketing mix with easy points to remember!

  WHAT IS   MARKETING MIX? IF YOU WANT TO KNOW THIS TERM IN DETAIL, THEN YOU ARE AT THE  RIGHT PLACE The marketing mix is also termed the service marketing mix. The following are the terms  of SERVICE  MARKETING MIX. 1. Product:   (services, goods, etc.) Which you wish to offer or launch in the market. Basically, you should understand the market and make a product which consumer need, not something which you want to sell. 2. Price:  (price segmentation is an important term based on service/quality, it should not be too high/low). If a product quality/service is best, but the cost is too high, then only rich people will purchase it. Even if you have made it for the convenience of all class people. So, it is better to have deep analytics before offering the price. 3. Place- Distribution: (geographical area, consumer preferences) 4. Promotion: ( promotion through which means online, free sample distribution of product/service, advertising, word of mouth). After deep analysis of the marke
Post a Comment
Read more