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
- Suze Orman
Article of the week:
ENTREPRENEURSHIP DRIVERealizing 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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