Entrprenurship

Prateek Singla

P122035

1) Who is an entrepreneur?

Entrepreneurs are risk takers, willing to put money and reputation on the line in support of an idea or enterprise. They take an idea, convert that idea into a product or service that a certain part of the population needs, and create a business around that product or service.

2) What are the qualities of an Entrepreneur?

* Innovative

* Confidence

* Passionate

* Sense of ownership

* Ability to Communicate

* Dedication

* Optimistic

* Not Afraid of Risk or Success

* A Leader by Example

* Visionary

* Persistence

3) Compare and contrast Gurubhai and Homer Hickam as entrepreneurs

* Passionate: Both of them were passionate to follow their dreams.Their success proves “No Dream Too Big”. They went against their family too to be successful in respective fields

* Innovation: Gurubhai was innovative in the the way of carrying out business while Homer Hickam was trying to innovate a way to build a Rocket into space.

* Perseverance: Both of them, after starting their business faced several difficulties and during that time had the opportunity to quit but they didn’t quit and persevered.

* Risk takers:Both took many risks to be successfull.

* Purposes: Gurubhai’s purpose was to make money irrespective of the way in which it came while Homer Hickam’s was ambitious of going into the space and was not interested in monetary gains.

4) Which of the qualities of the Entrepreneur could be acquired and which are born-with?

I am of the opinion that entrepreneurship is nothing but managing all your resources in a way to get best results. It only happens when you have good amount of experience and are well versed with all the aspects of business.

In my opinion all the qualities to become a successful entrepreneur can be acquired with time and experience.