• 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.

 A survey procedure comprises the following steps:
Step 1: Planning the Survey: In this step, the entrepreneur to deal with the following:
(a) Define: Define the problem clearly and accurately.
(b) Method: Select the most appropriate method to conduct the survey from the various methods available viz. personal interview, Telephonic etc.
(c) Area: Entrepreneur has to decide the area and extent of the study. Census survey can be selected if all the units of the universe are to be contacted or sample survey if select units are to be taken.
(d) Questionnaire development: Questionnaire should provide the information which entrepreneur wants to know and is based on his objectives. Questionnaire should not be complicated and should be properly worded.
Step 2: Fieldwork: Here, the entrepreneur ensures that:
(a) Recruitment and Training: Investigators are scientifically recruited or properly trained for the work.
(b) Supervision: Survey is properly supervised.
(c) Time schedule: The time schedule is adhered to this care is taken.
(d) Recording: Responses are honestly and accurately recorded.
(e) Meticulous collection: The collection of data is done meticulously.
Step 3: Analysis and Interpretation of Data: Here the entrepreneur either by using software program or by hand, tabulate the collected data. The care is taken that:
(a) Data is edited
(b) Data is tabulated processed and interpreted
(c) Data is statistical analysed and interpretations are recorded accordingly.
Step 4: Report Making: In this step market research reports with main findings from the study. Here a summary of what the study revealed, along with a list of various recommendations for the enterprise’s continual growth and success in the market is done. This report is the basis for taking any decision related to the enterprise

(i) A survey procedure comprises the following steps:
Step 1: Planning the Survey: In this step, the entrepreneur to deal with the following:
(a) Define: Define the problem clearly and accurately.
(b) Method: Select the most appropriate method to conduct the survey from the various methods available viz. personal interview, Telephonic etc.
(c) Area: Entrepreneur has to decide the area and extent of the study. Census survey can be selected if all the units of the universe are to be contacted or sample survey if select units are to be taken.
(d) Questionnaire development: Questionnaire should provide the information which entrepreneur wants to know and is based on his objectives. Questionnaire should not be complicated and should be properly worded.
Step 2: Fieldwork: Here, the entrepreneur ensures that:
(a) Recruitment and Training: Investigators are scientifically recruited or properly trained for the work.
(b) Supervision: Survey is properly supervised.
(c) Time schedule: The time schedule is adhered to this care is taken.
(d) Recording: Responses are honestly and accurately recorded.
(e) Meticulous collection: The collection of data is done meticulously.
Step 3: Analysis and Interpretation of Data: Here the entrepreneur either by using software program or by hand, tabulate the collected data. The care is taken that:
(a) Data is edited
(b) Data is tabulated processed and interpreted
(c) Data is statistical analysed and interpretations are recorded accordingly.
Step 4: Report Making: In this step market research reports with main findings from the study. Here a summary of what the study revealed, along with a list of various recommendations for the enterprise’s continual growth and success in the market is done. This report is the basis for taking any decision related to the enterprise.
(ii) Market survey is not an useless tool because of following reasons:
(a) Customer oriented: Market survey informs accurately about the customer’s needs, wants, nature of demand, likes and dislikes and all other related aspects of movement of products from the production stage till the consumption. This provide an edge over competitors to the enterprise.
(b) Minimises risk of the enterprise: The systematic and intelligent use of market survey reduces and minimizes the risk of decision-making under the conditions of uncertainty. This is because the results are analyzed in order to finalize a business plan.
(c) Goal oriented for a firm: Market survey helps in the attainment of goals of the enterprise smoothly and timely. This is because the market survey is designed with the goals and objectives of the enterprise.
(d) Provide correct picture of the markets: As market survey as is a systematic collection, recording, analysis and interpretation of data, relating to the existing or potential market, it thus provides a complete overview of the market.
(e) Helps in Forecasting: Accurate, effective and timely sales forecast is provided by the market survey. This in turn promotes the firmness and soundness to the marketing decisions. Future decisions become more reliable due to market survey.

Networking with other entrepreneurs will allow you to meet people who are going through similar experiences and facing the same challenges. Building a community of fellow entrepreneurs to connect with will help you learn from others and share your experiences with like-minded people. Developing and using contacts made in business for purposes beyond the reason for the initial contact. For example, a sales representative may ask a customer for names of others who may be interested in his product. The ability to network is one of the most crucial skills any entrepreneur can have.

(i) Valence (Positivity or Negativity): Valence of an attitude tells us whether the attitude is positive or negative toward the attitude object. It means attitudes are directional.

(ii) Extremeness: This indicates how positive or negative an individual is toward object.

(iii) Simplicity or Complexity: It refers to how many attitudes are there in the broader attitude.

Attitude is simple if it contains few attitudes and complex, if it is made up of many attitudes.

e.g. attitude towards student's tutor is simple and attitude towards his father is complex.

(iv) Centrality: It refers to the role of particular attitude that influences the other attitudes in the system, e.g., attitude towards education. Positive attitude towards education influences various other attitudes, e.g., attitude towards knowledge or attitude towards work.

Entrepreneur is a person who develops and owns his own enterprise, is a moderate risk taker and works under uncertainty for achieving the goal.
— Is innovative and a persuader of deviant pursuits.
— Reflects a strong urge to be independent.
— Persistently tries to do something better.
— Is dissatisfied with routine activities.
— Is prepared to withstand the hard life.
— Is determined but patient. Exhibits sense of leadership.
— Exhibits sense of competitiveness.
— Takes personal responsibility.
— Is oriented towards the future.
— Tends to persist in the face of adversity

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.

• Innovation- It should be highly innovative to generate new ideas, start a company and earn profits out of it. Change can be the launching of a new product that is new to the market or a process that does the same thing but in a more efficient and economical way.

Motivation is defined as the processes that account for an individual's intensity, direction, and persistence of effort toward attaining a goal. The level of motivation varies both between individuals and within individuals at different times. Motivational process is based on human needs. It's starting point is the awareness of needs which means it begins when there is an unsatisfied need in a human being. An unsatisfied need of an individual creates tension which stimulates his or her behaviour. These drives generate a search behaviour to satisfy such need.

Outstanding performance

E

Dynamic entrepreneurs are guided by the value of outstanding performance

BUSINESS ETHICS: Refers to the moral values or standards or norms which govern the activities of a businessman. Ethics define what is right and what is wrong. By ethic we mean the business practices which are desirable from the point of view of Society. The purpose of business ethics is to guide the managers and employees in performing their job. Example of business ethics are charging fair price from customers, giving fair treatment to workers, earning reasonable profits and paying taxes tithe government honestly.