The Journey: First Path
With the advancement of technology and increasing access to financing for all types of entrepreneurs, entrepreneurship is quickly becoming the preferred career option for many. The role of the entrepreneur is evolving, and there were 582 million entrepreneurs worldwide in 2020, with 62% of people agreeing that entrepreneurship is a good vocation. Entrepreneurship is critical for keeping Philippines economy strong and balanced, from small firms to multinational corporations.
After a month, I've acquired numerous principles and practices from the Introduction to Entrepreneurship. Entrepreneurship, I discovered, is the act of creating a business with the goal of making a profit. However, in today's society, entrepreneurship has come to encompass the act of changing the world by solving large-scale problems. With the introduction of the internet, entrepreneurship now has the ability to effect positive social change by developing a service or product that benefits individuals and addresses societal concerns through new ideas. I also learned that self-motivated individuals can also use entrepreneurship to build their own career path and income by working for themselves to generate items or services that people want or need. It's a hazardous way to make a living, but it can pay off handsomely and lead to long-term success.
I could say that entrepreneurs, regardless of how they got started, are a crucial element of our economy and society. We wouldn't have as many creative products and services as we do today if it weren't for entrepreneurs. But, what exactly is an entrepreneur?
An entrepreneur is a person who organizes, manages, and takes on the risks associated with a business. An entrepreneur envisions a business, takes courageous actions to build it, coordinates the numerous production variables, and launches it. They are willing to take risks, have organizational skills, and a willingness to diversify and innovate in their businesses.
Perhaps entrepreneurship appeals to us in life because it allows us to make a profit on our own terms, for a company that is entirely ours. Maybe we're weary of working for others and want to go it alone, or maybe we're having trouble finding job. Many people are attracted to entrepreneurship because they are self-motivated and desire to be financially self-sufficient. I believe that in this way, we can benefit ourselves while also helping others and the economy of our country.