Sachin wanted a latest laptop with some advanced features on his coming birthday. While making his purchase of new laptop from flipkart.com he read a notice about some relief material being collected for J&K Flood relief work.

A label is a piece of paper, plastic film, cloth, metal, or other material affixed to a container or product, on which is written or printed information or symbols about the product or item. Information printed directly on a container or article can also be considered labelling.

Enterprise is another word for a for-profit business or company, but it is most often associated with entrepreneurial ventures. Sole proprietorship – A company run by a single individual, typically for their benefit, with unlimited liability for any damages that occur as a result of the business' operations.

The entrepreneur is defined as someone who has the ability and desire to establish, administer and succeed in a startup venture along with risk entitled to it, to make profits. The best example of entrepreneurship is the starting of a new business venture. The entrepreneurs are often known as a source of new ideas or innovators, and bring new ideas in the market by replacing old with a new invention.

Small Business Entrepreneurship- These businesses are a hairdresser, grocery store, travel agent, consultant, carpenter, plumber, electrician, etc. These people run or own their own business and hire family members or local employee. For them, the profit would be able to feed their family and not making 100 million business or taking over an industry. They fund their business by taking small business loans or loans from friends and family.

Scalable Startup Entrepreneurship- This start-up entrepreneur starts a business knowing that their vision can change the world. They attract investors who think and encourage people who think out of the box. The research focuses on a scalable business and experimental models, so, they hire the best and the brightest employees. They require more venture capital to fuel and back their project or business.

Large Company Entrepreneurship- These huge companies have defined life-cycle. Most of these companies grow and sustain by offering new and innovative products that revolve around their main products. The change in technology, customer preferences, new competition, etc., build pressure for large companies to create an innovative product and sell it to the new set of customers in the new market. To cope with the rapid technological changes, the existing organisations either buy innovation enterprises or attempt to construct the product internally.

Social Entrepreneurship- This type of entrepreneurship focuses on producing product and services that resolve social needs and problems. Their only motto and goal is to work for society and not make any profits.

1. What family and friends think or opine about entrepreneurship has a crucial role to play.
2. Besides, the view of the family, their support and the society with regard to failure is also a very important factor.
3. Family’s support is very essential as the entrepreneur needs to borrow initial finances from the family and friends.
4. The family’s attitude towards education and other careers in fields like medicine, engineering, etc. are also likely to dominate the youth’s mindset towards entrepreneurship.
5. A prospective bridegroom can also become a deciding factor, promoting or inhibiting entrepreneurship.

Entrepreneurs vs Managers. The main difference between Entrepreneur and Manager is their role in the organization. An entrepreneur is the owner of the company whereas a Manager is the employee of the company. Entrepreneur is a risk taker, they take financial risk for their enterprise.

a person who sets up a business or businesses, taking on financial risks in the hope of profit.

Advantages and benefits are same

• Life-line of a nation: No country can progress without the development of entrepreneurship. Every country is trying to promote its trade so that it is able to share the benefits of development. Therefore, entrepreneurship is the yardstick to measure the level of development of a country.
• Provides innovation: Entrepreneurship provides new ideas, imagination and vision to the enterprise. An entrepreneur is an innovator as he tries to find new technology, products and markets. He increases the productivity of various resources. The entrepreneur stands at the centre of the whole process of economic development. He conceives business ideas and puts them into effect, to enhance the process of economic development.
• Change of growth /Inclusive growth: An enterprise operates in a changing environment. The entrepreneur moulds the enterprise in such a changing environment. The latter moulds not only the enterprise, but also alters the environment itself, to ensure the success of the enterprise. In order to meet the challenge of automation and the complexities of advanced technology, there is a need for the development of entrepreneurship.
• Increased profits: Profits can be increased in any enterprise, either by increasing the sales revenue or reducing cost. To increase the sales revenue is beyond the control of an enterprise. Entrepreneurship, by reducing costs, increases its profits and provides opportunities for future growth and development.
• Employment opportunities: Entrepreneurship and its activities provide the maximum employment opportunities. More entrepreneurs provide more opportunities to large numbers of people which benefits growth of country. The growth in these activities bring more and more employment opportunities.
• Social Benefits: Entrepreneurship benefits both business enterprise and to the society at large. It raises the standard of living by providing good quality products and services at the lowest possible cost. It also makes the optimum use of scarce resources and promotes peace and prosperity in the society.