External Factors Of Entrepreneurship

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The Reliance Industries Ltd (RIL) is the second largest public traded company in India in terms of market capitalisation. RIL contributes about 20% of total exports from India. Did you ever wonder from where did Dhirubhai Ambani get the idea of selling crude oil in India? When Dhirubhai was a teenager, he used to work in a company in Yemen. In 1962, he returned to India with an idea of starting his own import-export business. He moved to petrochemicals business and established a profitable and global enterprise in India.

Thus, a successful entrepreneurship is created and developed from an innovative and simple idea or concept. It is the small seed for a big enterprise or small business. The entrepreneur should collect information pertaining to various profitable opportunities available ina region or country. Then, he has to select an idea, which can be
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Environmental factors include both controllable and uncontrollable forces, which may have positive or negative impact on entrepreneurship. External environment refers to everything that is external to the business of an enterprise. It affects the business concerns of an enterprise to a large…show more content…
You will also know the distinction between an entrepreneur and a manager. You will also look at the qualities of successful entrepreneurs.

Emergence of Entrepreneurial Class in India

The evolution and emergence of entrepreneurship in India can be studied with reference to the role of specific communities and their development in history. The emergence of entrepreneurship and the entrepreneurial class can be described in four periods.

Period I – Entrepreneurship in Ancient Period
Period II – Entrepreneurship in Pre-Independence Era before 1850
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