Entrepreneurship Is The Process Of Discovering New Ways Of Combining Resources

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Entrepreneurship is the process of discovering new ways of combining resources. To start a business offering a product, process or service, various entrepreneurial skills and business models are required for smooth functioning, but the most important aspect it to have an entrepreneurial mindset. This is drawn from opportunities, innovation and new value creation. Entrepreneurship is a practice of learning and exploring the world by being visionary, opportunistic and creative. Entrepreneurial Mindset Profile (EMP) results indicated two sections related to personality scales and skills scale. After analyzing my scores in comparison with corporate managers and entrepreneurs, I have identified my key strengths and they are described as follows: • Risk Acceptance: When you start a new business, there are certain and unavoidable risks associated with the project. My score was 4 with is higher compared to corporate mangers (3.55) and slightly lower than entrepreneurs (4.18). It’s not about ability of taking risk but being able to measure and calculate the risks. I am willing to take a certain amount of risk to achieve real success in the venture. I am prepared to take some risks if only the payoff is big enough. I like to manage the risk with certain strategic plans to overcome any loss. • Passion: My score was 4.20 and relatively higher than corporate managers (4.01) and marginally lower than entrepreneurs (4.32). I believe everyone should be passionate about something.
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