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Methodology of Business Studies by Mathew Emmanuel

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2

Establishing a Business and Entrepreneur Heuristics

2.1   ESTABLISHING A BUSINESS VENTURE

As discussed in Chapter 1, a business is an economic activity that involves the production and/or purchase of goods and services with the object of selling them at a profit. Owning a business is a great dream for most people. It remains a dream for many people but some people turn this dream into action and take the plunge. Owning a business is a boon, provided you get into it the right way and know what to expect and what to do, otherwise, it can be nightmare. Entrepreneurial motivation is a term that is used to describe the quest for new venture creation as well as the willingness to sustain the venture. One quickly learns that it is easy to start ...

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