Percolation of Entrepreneurial Pursuits: One-Step towards Economic Escalation
Keywords:entrepreneurial competencies, economic precipitation, synergised knowledge, employment opportunities, entrepreneurial myths
In recent times the opportunistic and economically liberalised market platform acts as a notable incentive to the innovators whose creative excellence gets emancipated into the age-old concept of Entrepreneurship which is the ongoing phenomenon in the world. The concept of Entrepreneurship is a multidisciplinary approach which requires synergised knowledge. The actualisation of an ingenious and resourceful idea by a risk seeker i.e. an entrepreneur which is technically termed as an Entrepreneurship and the prospective outcome is the Enterprise which could be seen as future wealth generating device together with societal furtherance.
The study is focused on how Entrepreneurial activities could lead to manifestation of Economic precipitation. Entrepreneurial performances lead to long-lasting effect with respect to nations' GDP through generation of organised as well as unorganised employment opportunities, decline in income disparity amongst the population, enhancing per capita income, strengthening the economy by producing or reproducing innovative and productive products and services thereby ensuring upliftment of standard of living. The main thrust of any Entrepreneurship program can be seen as developing the latest or modified solutions to any existing problems in the society before one another's competitors in order to achieve the first mover advantage. Frequently entrepreneurs are categorised as problem solvers. But appropriate financial and technical assistance accelerates budding Entrepreneurs' creative ideas into value creation mechanisms. Adequate Entrepreneurial activates other resources of the entity and guarantees it's productive utilisation in an innovative way and at the same moment involves the ability to absorb risk arises in the entrepreneurial journey. The greater self-managed venture in the nation reflects economic competencies and the ability to contribute significantly towards world GDP. The study also extends towards analysing certain self-tailored myths regarding Entrepreneurship and also its contributions to community building. It implies establishment of a well-structured platform which ultimately leads to Economic precipitation.
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