The Spirit of Entrepreneurism

 "Entrepreneurism is the art of accomplishing much more than what the science of management says is possible."

ENTREPRENEURSHIP

‘A systematic innovation, which consists in the purposeful and organized search for changes, and it is the systematic analysis of the opportunities such changes might offer for economic and social innovation.                                                                                           ---Peter Drucker

How Is Entrepreneurship Good for Economic Growth?

Figure : Opportunity-Necessity Entrepreneurship Ratio and Income per capita

Source: Entrepreneurship data, GEM 2004 Global Report, accessible at <www.gemconsortium.

org>; income data, United Nations Development Program, Human Development Report

2004, Table 13.

There is no secret that most of the average people dream about getting rich albeit very few makes any real effort to become one.According to statistics, more than 100 thousand people become millionaires each year in the United States alone! Overwhelming majority out of them is self-made and owners of business. This means, if you would like to pursue your goal of becoming rich, you have to start your own venture.

“There will come a time when big opportunities will be presented to you, and you’ve got to be in a position to take advantage of them.” – Sam Walton, founder of Wal-Mart Inc.

“There is only one way to make a great deal of money; and that is in a business of your own.” – J. Paul Getty, Former oil tycoon and once the richest man in America


Entrepreneurship Development and Management is one of the core competencies of
technical human resource. Creating awareness regarding entrepreneurial traits,
entrepreneurial support system, opportunity identification, project report preparation and
understanding of legal and managerial aspects can be helpful in motivating technical/
vocational stream students to start their own small scale business/enterprise.
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