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Entrepreneurship is a pro-active activity that takes such actions, which others can’t even perceive. This unique function provides our civilization with a wide variety of products, ways of actions, production and techniques.

It requires to transform a particular idea into reality. The resources include human and nonhuman resources. Organizing in entrepreneurship will increase productivity, promote new ventures, distribute and supervise work and responsibility, and will remove barriers to work.

Entrepreneurship searches those activities of value that have an economic and social contribution.

Entrepreneurship takes the risk for the new venture. For innovative actions in the field of production technology for new products in a volatile market and new raw materials used in production.

This is a major function of entrepreneurship in developing countries.

Entrepreneurship is a new initiative therefore, it has to decide multivariate issues that affect new ventures. And  has to decide upon equipment to be used quality, price and its variation, deficiency, capital structure, the feasibility of the project, organizational structure, philosophy of management, etc. that will guide, run and prosper the new venture or distinct attempt for entrepreneurship.

Entrepreneurship throughout the world brings invented technology from different comers of the world and makes it appropriate by making required adjustments for local conditions.

It innovates a new production process or technology, market, sources of new materials, management, strategy or technique, investment opportunity, etc. that Schumpeter (1934) calls as the fundamental characteristics of entrepreneurship.

It is an exposure of creative faculty that provides personal satisfaction and independence. The unique freedom to think differently is the impetus for entrepreneurship.

It’s innovative technology somehow promotes human efforts. It restarts closed industries with innovative managerial strategies and techniques.

Entrepreneurship is a new venture that requires social acceptance by the regulatory bodies and the public at large.