July 27, 2021

Coin Tastic

Business Managements for you

The 5 Components Of A Successful Entrepreneur

‘Women entrepreneurship’ is like a discipline for a child that begins at home. Due to...

‘Women entrepreneurship’ is like a discipline for a child that begins at home. Due to the lack of capital, technical know-how, entrepreneurship. etc., the private sector was shy in investing capital in heavy industries. The government took the initiative and established the Pakistan Industrial Development Corporation (PIDC) in 1952 to invest in industries that require heavy initial investment, have a long gestation period, and require a high degree of know-how. The PIDC’s major investments were in paper and paper board, cement fertilizer, jute mills, shipyards, and the Sui Karachi gas pipeline. By June in 1971, the PIDC had completed 59 industrial units and created a base for self-sustained growth in the industrial sector. The nationalization of industries in 1972 inflicted a heavy blow to the PIDC. Under the Presidential Ordained No. 5 of 1974, the government transferred the major projects to new Corporation. The PIDC is now reduced in size and stature. It is hardly operating 12 projects and facing great financial stringency.

There are fake profiles and IDs. Now it is easier to create fake profiles using stolen pictures. People often use fake profiles to insult or harass someone they don’t girls are the most vulnerable to these activities. There have been several news stories about people, normally students, who became depressed or suicidal after being harassed on Facebook. Innovation in the business sense may not necessarily involve, in the physical sense, business management the introduction of a new product or service. It can be in the form of what is commonly known as creative imitations. For example, if an individual starts selling a product that is already common in his area or country, he will not be seen as being entrepreneurial. However, if he is the first to sell the same product in a virgin locale or to an untouched market segment, he will be seen as an entrepreneur in his own rights.

By running a successful business, the entrepreneur will be helping the local community by keeping the local economy stimulated, ideally with local dollars and local jobs. However, stimulating the economy alone is not enough for most self aware and successful entrepreneurs. Most are entrepreneurs because they want to be their own cook when it comes to the food they eat, and that includes both the way they operate their business and the way they make a difference in the local community. It is that perspective that allows a successful entrepreneur to work within a philosophy that he or she believes in, and to put passion into the work that he or she does. For example, sometimes having success means walking away from high yield possibilities in order to keep one’s integrity intact, for the greater long term business good.