Launching a Business Enterprise

Hisrich (2002) states that entrepreneur is the process of creating something with value by devoting the necessary time and efforts. The launching of a business enterprise, whether of big or small organization is an entrepreneurial function. Theories on entrepreneurship have shown that several factors affect the entrepreneurial phenomenon.

Planning and organizing an enterprise means providing it with all that are necessary for it function. These include idea, tool, capital, personal, power supply, and etc. ways of launching a business enterprise have been suggested by several writers, especially those who focus on entrepreneurship. Steps in organizing a business launch:
Triggering Events. These are the factor that give birth to a new business enterprise and its growth and expansion.
Self-Appraisal. Personal character of the owners and environmental factors these are the two sets of factors that are important if an enterprise wants to be successful in launching.
Personal character here include Physical capability in terms of minimum health, bodily and mentally then we have Diligence the ability to work for unusually long hours and a little harder than the others, Initiative capacity to create new ideas, Willingness to assume risk, a new enterprise set up is venturing to the unknown and this is risk of uncertainty, Organizational ability this relate to knowledge of the technology in the field on the production process, Administrative competence this is clear to formulate and implement policies, Communication Skills this is clear dissemination and monitoring of information, Leadership quality this refer to the ability to carry other people along all at the same times, Flexibility of high degree this will provide for ability to meet changing challenges of the environment, Self Confident been sure of oneself about something or a task, Seeking for Feedback on performance on constant basis, endurance having positive patience, Drive this represents ability to accept responsibility for desirable tasks.