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Entrepreneurship by Mind Map: Entrepreneurship

1. is the art of observing correct practices in managing and operating self owned wealth-creating business enterprise

2. 5 Features of Entrepreneurship

2.1. 1. Entrepreneurship is an Art of Correct Practices

2.2. 2. Entrepreneurship is a wealth Creating Venture

2.3. 3. Entrepreneurship provides valuable goods and services

2.4. 4. Entrepreneurship entails opening and managing of self-owned enterprise

2.5. 5. Entrepreneurship is a risk-taking Venture

3. 5 Misconceptions In Entrepreneurship

3.1. 1. Applies only to manufacturing business

3.2. 2. Applies only to small business

3.3. 3. Applies only to people who has a good educational background in business

3.4. 5. Applies on simply opening a small business

3.5. 4. Applies only to the country with good economy

4. Significance of Entrepreneurship


4.1.1. Provides employment

4.1.2. Creates demand

4.1.3. Substantial contribution to taxes

4.1.4. Facilitates the movement of the product (factors)

4.1.5. New business opportunities

4.1.6. Peaceful and loving community

4.1.7. Increases constructive competition


4.2.1. Find entrepreneurial niche (suitable position) in world market

4.2.2. Hasten economic process when in financial turmoil

4.2.3. Facilitates the flow of money in the country

4.2.4. Encourage competitiveness in entrepreneurs

4.2.5. Favorable ecomonic ratings in the world ranking


4.3.1. Provides guidelines

4.3.2. Improve financial and social status

4.3.3. Braoden their creativity