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Notions of Entrepreneurship and Management

The most important function of modern management is the entrepreneurship. The role of this function has been increasing in recent years. It becomes one of the main functions in-house management.

Entrepreneurship is usually regarded as an initiative activity to saturation of the market with goods, services, and for-profit or personal income, and carried on their behalf at their own risk and responsibility.

With the account of different definitions of entrepreneurship there are basic motives of entrepreneurial activity:

• Personal enrichment.

• Desire to become a master of a certain craft, decide freely, and independently dispose the income.

• Self-realization, i.e. the development and best use of your abilities.

• Willingness to take risks and play.

The scope of entrepreneurship covers all social production, including the military-industrial complex. This includes manufacturing, non-manufacturing, trade and intermediating, innovation, credit, financial, and other activities. Limitations of entrepreneurial activities can be environmental requirements, preservation of public health, and fire safety.

Entrepreneurship can be private, collective, state or contract. Private enterprise belongs to an individual, who takes all the responsibility. Collective entrepreneurship is carried out by a group of people related to each other with solidarity or shared responsibility.

State enterprise is managed by state enterprises, operating as a full economic management.

Entrepreneurship is preceded by management. In other words, at first there was an organized business and then its management. The scope of entrepreneurship includes the development of entrepreneurial idea, research of resources, and identification of ways to use them effectively. The scope of management includes the processes to ensure efficient use of resources.

Management includes the implementation of the functions of planning, organization, motivation, control, and other processes in the company’s activities, namely communication and the adoption and implementation of management decisions. Professional management requires versatile knowledge, research approach, strategic thinking, computer literacy, organizational culture, communication skills, self-reliance, innovation, and enterprise. Thus, an entrepreneur and manager have a number of common features. This is reflected in the entrepreneurial behavior of the manager: in the purpose and ways of achieving them, incentive system, information used, style and methods of management, and so on.

The most important function of modern management is the entrepreneurship. The role of this function has been increasing in recent years. It becomes one of the main functions in-house management.

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Assignment ID
100002726
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CREATED ON
November 8, 2016
COMPLETED ON
November 9, 2016
Price
$20
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