THINK BEYOND JOB

MOTIVATIONAL FACTORS FOR ENTREPRENEURSHIP IN CHHATTISGARH

SOUMYA SHARMA M Phil MANAGEMENT Dr. C.V Raman University, Kota, Bilaspur Chhattisgarh.

21st century will be knowledge century of innovation, enterprise, entrepreneurship where Indian core competencies will be honed up
M S Swaminath

Definition
Entrepreneurship is the professional application of Knowledge, skills and competencies and/or of monetizing a new idea, by an individual or a set of people by launching an enterprise de novo or diversifying from an existing one (distinct from seeking self employment as in a profession or trade), thus to pursue growth while generating wealth, employment and social good.

What Motivates Entrepreneurship ?

There are varied approaches to understanding why some individuals decide to venture into entrepreneurship and, thereby, break through traditional ways of doing things. Notwithstanding numerous studies on entrepreneurial traits, there are no well-defined psychological attitudes or profiles that describe all entrepreneurs or characteristics to which entrepreneurs generally conform. There is no ideal profile. Entrepreneurs can be gregarious or taciturn, analytical or intuitive, cautious or daring.

Some theoretical explanations of what motivates entrepreneurs include the following:

The Achievement Orientation or the desire to achieve purely for the sake of achievement alone. The interrelation between religion, norms, values, behavior and the economy in a particular epoch. The ability to comprehend opportunity, i.e. to reinterpret the meaning of things, fit them together in new ways and see what others may have missed, such as an unsatisfied demand. The capacity to sustain a high degree of interest in the advancement and technological development of the industrial process and in the improvement in the scale of industrial operations. The ability to make the best of what one has, in order to get what one needs, i.e. the capacity to innovate in figuring out the best ways to reach the market with minimum expenditure of time, effort and money.

Aim of Research

To find the factors that motivates entrepreneurship, which would encourage new entrepreneurs in Chhattisgarh and helps in minimising the obstacles to become entrepreneur.

Objectives of Research
To find out governments endeavour towards entrepreneurship in Chhattisgarh. To find the opportunities for new entrepreneurs in Chhattisgarh. To find the obstacles in the way of new entrepreneurs. To find ways and means which would encourage entrepreneurial attitude in youths.

Research Methodology
The methodology which we will adopt in this research is on one-on-one interviews with a sample size of entrepreneurs from diverse backgrounds, in selected cities across Chhattisgarh, as well as collecting information from consultations with other relevant stakeholders in the entrepreneurial ecosystem (such as educational institutions, incubation centres, the financial community, chambers of commerce, entrepreneurial associations etc.) across the state.

Entrepreneurial Roadmap
Professional

Entrepreneur

Industrialist/Business

Roadblocks of Entrepreneurship
Societal non acceptance

Risk free life

Responsibility Job orientation Lack of awareness

What leads to Entrepreneurship ?

Innovation Innate Talent

Ideas leading to timely business development

Risk taking ability Capability to network Willingness to work hard

Gains Of Entrepreneurship
Wealth creation

Wealth distribution
Societal respect & development Appreciation Satisfaction