What is an enterprise?

What Does Entrepreneurship Mean

We explain what an enterprise is and the characteristics of an entrepreneur. Also, what are triple impact ventures.

The culture of entrepreneurship is positive for societies.

What is an enterprise?

The term entrepreneurship comes from the French 'entrepreneur', which means 'pioneer' , and refers etymologically to the ability of a person to make an additional effort to achieve a goal , although at present its use is limited to refer to a new company or project that starts a person or group of people. An entrepreneur is the individual who faces the challenge of a new venture or business . To do this, you must have a positive attitude and great determination to face challenges and difficulties. It can help you: Entrepreneur

Types of entrepreneurship

According to the size:

  • Small businesses. Small-scale businesses carried out by one or more people in order to produce or commercialize a good or service , their profits are used to cover the business and maintain the cost of living of the entrepreneur.
  • Scalable ventures. Businesses that expand their market without putting effort into improving their product or expanding their stock. This type of undertaking is evident in the field of technology and digital.

According to the degree of innovation:

  • Mirror ventures. Businesses that imitate or are based on the production of a good or service that already exists; or they acquire a franchise from an already successful business.
  • Entrepreneurship out of necessity. Businesses that arise when the individual seeks a change in his life or as a new way to generate economic income. This type of undertaking is given by the need of the entrepreneur and not by a market need.
  • Entrepreneurship by opportunity. Businesses that arise from observing a lack or failure in the market.

According to the area in which they are developed:

  • Social enterprises. Businesses that innovate with ideas that are profitable but also have a positive impact on the social and environmental environment of a community .
  • Digital ventures. Businesses that are carried out entirely on the Internet , the production and commercialization of the service is 100% digital.

Characteristics of an entrepreneurial person

An entrepreneur is innovative, creative, and persistent.

When undertaking an undertaking, it is important to bear in mind that, in addition to the idea, certain capacities must be developed. An enterprising person is characterized by being:

  • Innovative. Create a project from new and original ideas.
  • Creative Create from interesting and novel ideas.
  • Able to take risks . It takes into account the unpredictable and overcomes the challenges that the development of a project generates.
  • Persistent. Work and wait patiently for the results and profits, which in many cases do not arrive in the first months, but rather long after the start of the venture.
  • Flexible and adaptable. It is open to change and always focused on growth. Along the way, he modifies certain aspects of the venture to get better results.
  • Patient. He is aware that the idea should not be rushed, and does not usually lock himself in to think a perfect idea, but chooses to live his life like all other people, to experience the same needs as others and thus find, within that path, the idea to develop.
  • Informed. Investigate marketing studies that can provide data of interest to an entrepreneur, generate ties between people who are in a similar situation.
  • Confident and determined. You have or develop an entrepreneurial spirit to work on your own and generate your own business. Entrepreneurship is usually a very difficult decision, whoever makes it knows that they are giving up the stability that a salary grants .

Importance of entrepreneurship

Many professionals decide to develop their own project in order to achieve economic stability. Faced with this situation, governments and business incubators help entrepreneurs by organizing entities dedicated to promoting small businesses. This is because this type of project gives a boost to the economy , especially considering that the demand for labor tends to grow at a higher rate than the supply . Often, a family business that helps families achieve meet their basic needs of life or improve significantly. In addition, an enterprise gives independence, since a person who has his own enterprise works in a particular way and does not depend on bosses or schedules.

Social and environmental ventures

Social and / or environmental projects are innovating with projects that have the objective to improve the welfare of society or the environment . For that, they produce a good or a service, but also generate a positive social or environmental impact in a community. Those that aim to offer opportunities to reduce social inequalities will be social enterprises, also called “social impact enterprises”. Those that aim to reduce environmental impact are called “sustainable enterprises”, “environmental enterprises” or “environmental impact enterprises”. This type of undertaking also aims to generate a change of consciousness in the consumer . In general, they are carried out by companies that pursue both economic profitability and the positive social and environmental impact of the production of what they commercialize.

Triple impact ventures

Triple impact ventures are projects that seek to generate a comprehensive positive impact on society and the world. For this they use three fundamental pillars:

  • Environmental impact . The impact on the environment and the resources generated by the production of the good or service carried out by the enterpriseis analyzedand an attempt is made to reduce or eliminate it. For this, recycling , reuse, energy saving practices, among others, are carried out.
  • Social impact. The social factor and its importance in the development of the enterprise are taken into consideration. For this, values such as transparency, justice and honesty are respected, which are reflected in social practices such as: generating work, paying wages in a timely manner, paying taxes , respecting the rights of workers, among others.
  • Economic impact. It is the piece that keeps the enterprise afloat and allows to sustain environmental and social practices. It is essential that in order to achieve this end it does not harm or go against the values ​​of undertakings of this type.

Intraemprendimiento

An intrapreneurship is that innovative idea or new business that arises within the structure of a company or organization. The term was introduced in 1985 by Gifford Pinchot as a way to harness and foster the entrepreneurial and innovative potential of employees. Intrapreneurship is born within companies or organizations for the development of new ideas and to face the innovation of the competition. To achieve a balance and encourage the emergence of innovative ideas it is recommended:

  • Guarantee the physical time to the employees so that they can develop ideas.
  • Take the ideas into account once they are presented.
  • Generate some benefit or compensation that motivates employees to discover new forms of business or innovative ideas.

Follow with: Social Entrepreneurship

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