Entrepreneurship as a Career Option: Today the biggest challenge before the youth in India is to build the country as an economic global giant. The obvious questions that come to the mind of most of them are – “Why should we think of being an entrepreneur in India? Why not work as part of a larger organization where the opportunities and resources to scale ideas are probably far greater?
Entrepreneurship as a Career Option
Entrepreneurship is important for two reasons. One, it promotes innovation to find new solutions to existing and emerging demands. Two, it provides greater opportunities for wealth creation for self and society than anything else. Entrepreneurship has its challenges. It is about 20 percent luck and 80 percent effort, clarity, courage, confidence, passion, and above all smartness.
What does it take to lead a person to entrepreneurship as a career option? There can be many reasons including displacement from a job, disappointment in a current job, not getting the job of his / her choice, etc. Sometimes a person already knows a lot that his job is in danger, as the organization is heading towards closure. Sometimes a qualified employee, immersed in a promotion, is forced to quit the job and do something on their own. Some people object to a system in which there is often a reward based on seniority rather than merit. Job or Business: Which of the two options is better?
The above facts are evidenced by the research findings of Guild and Levine (1986). He proposed two closely related explanations of the entrepreneurial motivation, “push” and “pull” theory. the “push” theory argues that individuals are pushed into entrepreneurship by negative external forces, such as job dissatisfaction, difficulty finding employment, insufficient pay, or an inflexible work schedule.
The “bridge” theory states that individuals are attracted to entrepreneurial activities seeking independence, self-fulfillment, wealth, and other desirable outcomes. Research (Keeble et al., 1992; Orhan and Scott, 2001) indicates that individuals become entrepreneurs primarily due to “pull” factors rather than “push” factors. The Entrepreneurial Motivations – The Mind Change There are some key factors that attract individuals to entrepreneurship as a career choice, they have a high need for freedom: there are personalities that should have freedom: who to work with, when to work, who Have to trade on the terms, etc. It is his instinct in those who push such personalities to start something of their own.
To fulfill the dream of getting high financial rewards: Some need to start their own business in order to fulfill the need to achieve high financial rewards as a result of efforts. The fundamental difference between a job and one’s own enterprise lies in the degree of financial rewards for efforts made to achieve organizational goals.
Opportunity to deal with all aspects of the business: Any job providing an opportunity to learn and behave effectively with a wide range of activities starting from idea generation, concept, design, manufacturing, marketing to customer feedback and customer satisfaction Can not
Vision To leave a long-lasting mark: Entrepreneurship creates an opportunity to make a definite contribution to society by raising people in and around the enterprise. A constant enthusiasm to innovate helps to touch people’s heads and hearts on a large scale.
Starting a business with a strong urge from within, practical innovative ideas, meticulous planning, and hard work can be a very attractive, self-satisfying, enjoyable, and profitable endeavor. the biggest contributing factor to entrepreneurship is an intention i.e. a strong purpose in life coupled with a determination to produce the desired results. Positive aspects of entrepreneurship
There is no age bar for entrepreneurship: But youth is certainly more suited to take on an entrepreneurial venture because they are technically uncertain, not afraid of change and challenge, and have a greater ability to see things differently.
Thus, the basic decision to take entrepreneurship as a career option is guided by a three-part process in which one considers self-employment desirability to work for others, excluding factors that push and push towards entrepreneurship. Weighs desirability. Possession of competencies and capabilities to undertake entrepreneurship. The fact is that the current environment offers great entrepreneurial opportunities and more and more, the youth Consciously opting for this as a career option.
As an owner, he has unlimited powers if he has his own business. He can do things in his own way and does not need to take orders from anyone else. He can make his own decisions and take action on them.
Opportunities For Self-Development.
- Working on one’s own and thus receiving rewards for achieving immense satisfaction and enjoyment for more than what he/she can get in the job.
- Monetary rewards may be commensurate with their ability and abilities.
- He can pay respect and respect to his immediate family and friends. It is a kind of intangible reward.
- Instead of relying on others, he creates employment for others.
- He can contribute significantly to the development of the country and can be proud to participate in nation-building activities.
- It can be a great achievement to realize his goals and prove his achievements to the world. He can be recognized for his outstanding efforts.
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Business management expert and Leadership Consultant and Business Coach, who writes her blog, Jay’s Trends, focused on helping small business owners understand trends in Business management. Other posts by Jayprakash Prajapati»