ENTREPRENEURSHIP DRIVE


Word of the week

SUPERABLE


Definition: (adjective) capable of being surmounted or excelled

Synonyms: conquerable

Usage: bankruptcy is unpleasant to say the least but it is a SUPERABLE problem

Quote of the week

No one's ever achieved financial fitness with a January resolution that's abandoned by February.

                             
-          Suze Orman
                  
Article of the week:
ENTREPRENEURSHIP DRIVE

Realizing both the economic and social impact of entrepreneurship, the need for more entrepreneurs in Nigeria arises. The idea of entrepreneurship spreading so fast in recent time and this could be a major driver for economic growth our country. Entrepreneurs play a vital role in economic development as key contributors to technological innovation and new job growth. Further, entrepreneurs help build communities in ways such as providing jobs, conducting business locally, creating and participating in entrepreneurial networks, investing in community projects, and giving to local charities.

The drive to become an entrepreneur could arise from a variety of reason which may include:

· the thrill of competition

· the desire for adventure

· the joy of creation

· the satisfaction of team building

· the desire to achieve meaning in life

· passion

· unavailability of jobs

· fear

Starting a business involves a lot of risk and a high level of individualism and persistence as most writers have associated the term entrepreneurship with receiving the reward of profit but the question arises that should businesses start with the motive of profit making?

Proponents of the profit making motive believe that business left with profits as their only motivator will eventually beat out the competition after all, It was Peter Drucker who said, "Profitability is the sovereign criterion of the enterprise” so businesses exist to do business profitably. To think otherwise is to not understand entrepreneurship or how free market economies operate

The other school of thought believes that when we focus purely on profit, the spirit of the businesses itself suffers. Their stand rests on the notion that the purpose of starting a business should be to find, acquire and retain customers, the drive to start a business should be to satisfy a need.

This argument is ongoing on is open on a large floor of debate. What is your take on the issue?
 
In The News

Youth entrepreneur using ICT to grow agribusinesses

Abuja is ready to host the best int’l trade fair ever

How Modern Economics Is Built On 'The World's Dumbest Idea'
http://www.forbes.com/sites/stevedenning/2013/07/22/how-modern-economics-is-built-on-the-worlds-dumbest-idea/

The Most Important Decision You Have To Make, If You Want To Be Successful
http://www.forbes.com/sites/actiontrumpseverything/2013/07/21/the-most-important-decision-you-have-to-make-if-you-want-to-be-successful/

Why Female Founders Are Good For Big Businesses
http://www.forbes.com/sites/sethporges/2013/07/22/why-female-founders-are-good-for-big-businesses/

 

By: Damilola Ogidan


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