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[Audio] WHY STUDY ENTREPRENEURSHIP? • Basically 99% of businesses today are small or medium size and thus it is very important for students to learn about these organizations. • The environment for the beginning of a small business should be strong enough to face the competitors..
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[Audio] ADVANTAGES AND DISADVANTAGES OF SMALL BUSINESS ADVANTAGES • Skills are developed. • Independence is there as you are the owner of the business. • It is a kind of enjoyment to start your own business. DISADVANTAGES • There is a lot of risk as the business can suffer heavy losses. • A lot of stress is there as a single person handles everything. • As there are no fixed working hours, a lot of time has to be invested..
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[Audio] ENTREPRENEURIAL PROCESS • It refers to the process of starting a new venture. • It has four stages : a. An Identification and evaluation of an opportunity b. Development of business plan c. Determination of resources requirement d. Management of business.