Who is enterprise

An undertaking; project. The definition of an enterprise is a project, a willingness to take on a new project, an undertaking or business venture. An example of an enterprise is a new start-up business. An undertaking or project, especially a daring and courageous one. A company , business, organization, or other purposeful endeavor. To undertake ; to begin and attempt to perform; to venture upon. Willingness to undertake new ventures; initiative.

A willingness to undertake new or risky projects; energy and initiative. He has the final responsibility. To introduce innovations is another important function of an entrepreneur. Innovation by the entrepreneur implies a variety of things.

It may mean the introduction of a new method of production or improvement in the old method. It may consist of the introduction of a new commodity like the transistor radio sets or of a new maker of an old product like yet another brand of tooth paste.

Innovation may refer to the discovery of new materials, fresh sources of old materials, or new uses for materials and final goods. It also includes the opening of new markets. Innovation may take the form of new techniques in administration, finance, marketing, or human relations inside the business and public relations outside. In short, an entrepreneur initiates, organises, directs and supervises controls and undertakes the risk of the business, and introduces innovations.

In-a limited joint-stock company, the shares are usually held by a large number of persons, scattered all over the country. If the company fails, the shareholders lose their money. To the extent of the capital invested by him, a shareholder is an entrepreneur. In the industry of today, the number of shareholders is very large.

They are supposed to elect from amongst themselves a small number of directors who conduct the business on their, behalf. Shareholders are only sleeping partners. Thus, the shareholders who are the real entrepreneurs have little or no control over the business. In India, till; the abolition of the managing agency system in April , generally the managing agents used to be the real entrepreneurs in several lines of industrial activity. We might. We have already said that modern business is a very complicated affair.

In order to organize and run it successfully, the entrepreneur must possess qualities of a very high order. The man at the helm of the business must be a really superior person and possess outstanding organizing ability. The entrepreneur must be a successful leader of men. He must win and retain the loyalty of men with whom he has to work.

He must inspire confidence in them. He must understand human nature, so that he can make each person do his best. He must also understand his business. He has to buy machines; he has to buy raw materials. He must be an expert in judging the quality of both, if he is not to be deceived. He must also know the art of marketing. A successful entrepreneur must have general knowledge of the world at large.

This is essential not only for the purchase of materials and machinery, but also for the sale of goods and for taking important business decisions. Another important quality of a successful entrepreneur is that he must be a good innovator. Enterprise has several meanings. A human skill: eagerness to do something new and clever, despite any risks. A person with this skill is enterprising — he or she is an entrepreneur. He or she is willing to:. Take Risks: anybody who has done it will tell you that setting up a new business is fraught with risks.

No matter how carefully one researches the market, there is always the possibility that customers may not like the product, or some other problem emerges and and the business does not make a profit. She did not realize that a passion for a business enterprise , as for a woman, is capable of destroying the balance of any man. But she was half a dozen years older than de Brus, who was still in his teens and was never distinguished for enterprise.

For the time being the interests of an enterprise of five thousand would obliterate those of fifty. New Word List Word List. Save This Word! See synonyms for enterprise on Thesaurus.