Dimensions of Entrepreneurship

  Entrepreneurship is a broad concept. The description of Entrepreneurship can be redefined by examining major dimensions of business practices. 

1. Strategic orientation 

Strategic orientation describes an entrepreneur as a person who probes, realises, and grabs any opportunity creatively, innovatively, and more favourably.

2. Commitment to opportunity 

As per this concept a real entrepreneur should be a person who is capable of creating an opportunity and grab it for business purpose.

3. Commitment of resources

An entrepreneur should be capable of bringing his ideas into a business venture with minimum requirement of resources at each crucial stage.

4. Resource control

Control and proper utilisation of resources is as important as raising of resources. 

5 . Management structure 

Entrepreneurs must decide the managerial structure and managerial hierarchy 

6. Reward philosophy 

Reward is the essence of success of any organisation