The most notable points in his images are the supremacy of blue across both genders and the disparity between groups on purple.
What is the Role of an Entrepreneur in Economic Development? The entrepreneur who is a business leader looks for ideas and puts them into effect in fostering economic growth and development. Entrepreneurship is one of the most important input in the economic development of a country.
The entrepreneur acts as a trigger head to give spark to economic activities by his entrepreneurial decisions. He plays a pivotal role not only in the development of industrial sector of a country but also in the development of farm and service sector.
The major roles played by an entrepreneur in the economic development of an economy is discussed in a systematic and orderly manner as follows. Entrepreneurs promote capital formation by mobilising the idle savings of public.
They employ their own as well as borrowed resources for setting up their enterprises. Such type of entrepreneurial activities lead to value addition and creation of wealth, which is very essential for the industrial and economic development of the country.
Entrepreneurs provide immediate large-scale employment to the unemployed which is a chronic problem of underdeveloped nations. With the setting up. As time passes, these enterprises grow, providing direct and indirect employment opportunities to many more.
In this way, entrepreneurs play an effective role in reducing the problem of unemployment in the country which in turn clears the path towards economic development of the nation. Entrepreneurs help to remove regional disparities through setting up of industries in less developed and backward areas.
The growth of industries and business in these areas lead to a large number of public benefits like road transport, health, education, entertainment, etc. Setting up of more industries lead to more development of backward regions and thereby promotes balanced regional development.
Economic power is the natural outcome of industrial and business activity. Industrial development normally lead to concentration of economic power in the hands of a few individuals which results in the growth of monopolies.
In order to redress this problem a large number of entrepreneurs need to be developed, which will help reduce the concentration of economic power amongst the population. It stimulates equitable redistribution of wealth and income in the interest of the country to more people and geographic areas, thus giving benefit to larger sections of the society.
Entrepreneurial activities also generate more activities and give a multiplier effect in the economy. Entrepreneurs are always on the look out for opportunities. They explore and exploit opportunities, encourage effective resource mobilisation of capital and skill, bring in new products and services and develops markets for growth of the economy.
In this way, they help increasing gross national product as well as per capita income of the people in a country. Increase in gross national product and per capita income of the people in a country, is a sign of economic growth.
Increase in the standard of living of the people is a characteristic feature of economic development of the country.
Entrepreneurs play a key role in increasing the standard of living of the people by adopting latest innovations in the production of wide variety of goods and services in large scale that too at a lower cost. This enables the people to avail better quality goods at lower prices which results in the improvement of their standard of living.
They produce goods and services in large scale for the purpose earning huge amount of foreign exchange from export in order to combat the import dues requirement. Hence import substitution and export promotion ensure economic independence and development. Entrepreneurs like to work in an environment of change and try to maximise profits by innovation.
When an enterprise is established in accordance with the changing technology, it induces backward and forward linkages which stimulate the process of economic development in the country.
Entrepreneurs act as catalytic agent for change which results in chain reaction. Once an enterprise is established, the process of industrialisation is set in motion.
This unit will generate demand for various types of units required by it and there will be so many other units which require the output of this unit. This leads to overall development of an area due to increase in demand and setting up of more and more units.
In this way, the entrepreneurs multiply their entrepreneurial activities, thus creating an environment of enthusiasm and conveying an impetus for overall development of the area.Entrepreneurship and the U.S.
Economy. Entrepreneurship plays a vital role in the growth of the U.S.
economy. As the primary source for information on the nation’s labor market, the U.S. Bureau of Labor Statistics (BLS) collects data on .
What does it take to become an agent of change? To be a role model for others? It starts by seeing a condition that must be changed, then feeling empowered and motivated to take action.
Jun 05, · In honor of Startup Month at benjaminpohle.com, it's time to make an important distinction about what, at bottom, a true entrepreneur is.
Why bother? Because it concerns the very engine of . Brian Tracy is the "Success Secrets" coach at benjaminpohle.com one of America's leading authoritieson entrepreneurial development.
He's produced . What does it take to become an agent of change? To be a role model for others? It starts by seeing a condition that must be changed, then . Entrepreneurship and the U.S. Economy. Entrepreneurship plays a vital role in the growth of the U.S.
economy. As the primary source for information on the nation’s labor market, the U.S. Bureau of Labor Statistics (BLS) collects data on new businesses and job creation.