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ENTREPRUNERSHIP..........................................................
..........2
2. TYPES OF ENTREPRUNER
ORG...................................................5
2.1. INDIVIDUAL
PROPRIETORSHIP.............................................5
2.2.
PARTNERSHIP...................................................................
....6
2.3. JOINT STOCK
COMPANY.......................................................8
2.4. CO-OPERATIVE
SOCIETIES...................................................11
2.5. PUBLIC OR STATE
UNDERTAKINGS.....................................13
3.
BIBLIOGRAPHY..................................................................
.......15
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In recent years, "entrepreneurship" has been extended from its origins in business to
include social and political activity. Entrepreneurship within an existing firm or large
organization has been referred to as intrepreneurship and may include corporate
ventures where large entities spin off subsidiary organizations.Entrepreneurs are
leaders willing to take risk and exercise initiative, taking advantage of market
opportunities by planning, organizing, and employing resources, often by innovating
new or improving existing products. More recently, the term entrepreneurship has
been extended to include a specific mindset(see also entrepreneurial mindset)
resulting in entrepreneurial initiatives, e.g. in the form of social
entrepreneurship, political entrepreneurship, or knowledge entrepreneurship.
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According to Paul Reynolds, founder of the Global Entrepreneurship Monitor, "by the
time they reach their retirement years, half of all working men in the United States
probably have a period of self-employment of one or more years; one in four may
have engaged in self-employment for six or more years. Participating in a new
business creation is a common activity among U.S. workers over the course of their
careers."In recent years, entrepreneurship has been claimed as a major driver
of economic growth in both the United States and Western Europe.
term entrepreneur generally goes to the French economist Jean-Baptiste Say, but in
fact the Irish-French economist Richard Cantillon defined it first] in his Essai sur la
Nature du Commerce en Gnral, or Essay on the Nature of Trade in General, a
book William Stanley Jevons considered the "cradle of political economy" Cantillon
used the term differently. Biographer Anthony Breer noted that Cantillon saw the
entrepreneur as a risk-taker while Say considered the entrepreneur a "planner".
Cantillon defined the term as a person who pays a certain price for a product and
resells it at an uncertain price: "making decisions about obtaining and using the
resources while consequently admitting the risk of enterprise." The word first
appeared in the French dictionary entitled "Dictionnaire Universel de Commerce"
compiled by Jacques des Bruslons and published in 1723.
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The owner receives all profits (subject to taxation specific to the business) and has
unlimited responsibility for all losses and debts. Every asset of the business is owned
by the proprietor and all debts of the business are the proprietor's. It is a "sole"
proprietorship in contrast with partnerships (which have at least 2 owners).
A sole proprietor may use a trade name or business name other than his, her or its
legal name. They will have to legally trademark their business name, the process
being different depending upon country of residence.
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Partnerships present the involved parties with special challenges that must be
navigated unto agreement. Overarching goals, levels of give-and-take, areas of
responsibility, lines of authority and succession, how success is evaluated and
distributed, and often a variety of other factors must all be negotiated. Once
agreement is reached, the partnership is typically enforceable by civil law, especially
if well documented. Partners who wish to make their agreement affirmatively explicit
and enforceable typically draw up Articles of Partnership. It is common for
information about formally partnered entities to be made public, such as through a
press release, a newspaper ad, or public records laws.
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While partnerships stand to amplify mutual interests and success, some are
considered ethically problematic. When a politician, for example, partners with a
corporation to advance the latter's interest in exchange for some benefit, a conflict of
interest results; consequentially, the public good may suffer. While technically legal in
some jurisdictions, such practice is broadly viewed negatively or as corruption.
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Partnerships present the involved parties with special challenges that must be
navigated unto agreement. Overarching goals, levels of give-and-take, areas of
responsibility, lines of authority and succession, how success is evaluated and
distributed, and often a variety of other factors must all be negotiated. Once
agreement is reached, the partnership is typically enforceable by civil law, especially
if well documented. Partners who wish to make their agreement affirmatively explicit
and enforceable typically draw up Articles of Partnership. It is common for
information about formally partnered entities to be made public, such as through a
press release, a newspaper ad, or public records laws.
While partnerships stand to amplify mutual interests and success, some are
considered ethically problematic. When a politician, for example, partners with a
corporation to advance the latter's interest in exchange for some benefit, a conflict of
interest results; consequentially, the public good may suffer. While technically legal in
some jurisdictions, such practice is broadly viewed negatively or as corruption.
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The shareholders are usually liable for any of the company debts that exceed the
company's ability to pay. Meanwhile, the limit of their liability only extends to the face
value of their shareholding. This concept of limited liability largely accounts for the
success of this form of business organization.
Ordinary shares entitle the owner to a share in the company's net profit. This is
calculated in the following way: the net profit is divided by the total number of
owned shares, producing a notional value per share, known as a dividend. The
individual's share of the profit is thus the dividend multiplied by the number of shares
that they own.
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such as those that bring together civil society and local actors to deliver community
needs, and second and third tier cooperatives whose members are other
cooperatives.
The International Co-operative Alliance was the first international association formed
by the movement. It includes the World Council of Credit Unions. A second
organization was formed later in Germany, the International Raiffeisen Union. In the
United States, the National Cooperative Business Association (NCBA) serves as the
sector's oldest national membership association. It is dedicated to ensuring that
cooperative businesses have the same opportunities as other businesses operating
in the country and that consumers have access to cooperatives in the marketplace. A
U.S. National Cooperative Bank was formed in the 1970s. By 2004, a new
association focused on worker co-ops was founded, the United States Federation of
Worker Cooperatives.
Cooperation dates back as far as human beings have been organizing for mutual
benefit. Tribes were organized as cooperative structures, allocating jobs and
resources among each other, only trading with the external communities. In alpine
environments, trade could only be maintained in organized cooperatives to achieve a
useful condition of artificial roads such as Viamala in 1472. Pre-industrial Europe is
home to the first cooperatives from an industrial context.
other forms of cooperative organization and develop co-op ideas through writing and
lecture. Cooperative communities were set up in Glasgow, Indiana and Hampshire,
although ultimately unsuccessful. In 1828, William King set up a newspaper, The
Cooperator, to promote Owen's thinking, having already set up a co-operative store
in Brighton.,
Other events such as the founding of a friendly society by the Tolpuddle Martyrs in
1832 were key occasions in the creation of organized labor and consumer
movements.
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In most OPEC countries, the governments own the oil companies operating on their
soil. A notable example is the Saudinational oil company, Saudi Aramco, which the
Saudi government bought in 1988 and changed its name from Arabian American Oil
Company to Saudi Arabian Oil Company. The Saudi government also owns and
operates Saudi Arabian Airlines, and owns 70% of SABIC, as well as many other
companies. They are, however, being privatized gradually.
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1.
M.L. JINGHAN)
2. www.entrepreneur.com
3.
WIKIPEDIA
4.
GOPALAKRISHNAN)
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