Entrepreneurial behaviour and effectiveness.
A. Smith, J. B. Say or J. Schumpeter are considered to be the pioneers of the theory of entrepreneurship, which is shown either as a form of work or one of production factors. An initiator of new ideas mainly aims to ensure rational and effective coordination of company resources. In order to act effectively, he should develop the ability to notice needs and master the ability to use opportunities. It is also important to allow for some risk, according to the old principle “no risk, no reward”.
Entrepreneurship is a continuous process of creating something new.
Actions taken inside the company should not be occasional, they need certain pattern or repeatability. An entrepreneur who decides to implement an unconventional solution cannot just rest on his laurels. He should be very active and able to adapt to changing circumstances, because he is forced to organise his actions in such a way as to use the innovative idea in order to generate profit on the market, and at the same time take into account any uncertainty which may occur. An enterprising person is characterised not only by inborn mental flexibility, but also by practical skills gained via experience. Such a person is resourceful, open, self-reliable, persistent and aware of his strong and weak points. He can also properly react to outer stimuli and has a sense of opportunity and choice. All that is supported with responsibility and diligence.
Entrepreneurship is a process
Large successes start with small actions and well-balanced decisions. Introduced gradually, changes do not always have to be planned, but they should focus on a given opportunity or a specific need. Although attractiveness or localisation of a given area are considered to be some of the factors affecting the development of entrepreneurship, action as such depends on individuals. Without their passion, ideas and persistence, nothing special will happen. Effects of their activity are visible, it is enough to look around – new medical practices, beauty parlours, or crafts shops are a good example here. This refers to business in Łódź and its surroundings, too. It is important to show initiative and implement it, to open opportunity for such changes as:
- higher effectiveness of existing organisational solutions,
- gaining new markets and supplies,
- initiating contact with new partners,
- introducing new products or services.
- ensuring higher level of satisfaction.
Entrepreneurship is often identified with modernity understood as creating something new all the time. Thanks to this, an entrepreneur is able to ensure that profits are higher than costs encumbered in order to obtain them in his business, whether it is commerce, industry or services. In the long run, it contributes to a higher level of living and individual wealth.
The art of calculation? Co-dependence of innovative actions which lead to success? Pragmatic attitude? Working on one’s own account? Maybe effective reaction to changes in your surroundings? However you choose to interpret it, these are all features of modern (entrepreneurial) thinking. Those who take the path of entrepreneurship need to be result-oriented, able to cope with risk, and at the same time be full of energy and enthusiasm.