Enterprenuership
INTRODUCTION
Just as water is life to fishes, blood to human life, also is information to the success of any business organization. When two or more persons come together to carry out business in common, they express opinion, ideas, dreams, strategies etc . through communication, also the business will need to communicate with external persons, businesses. An entrepreneur cannot achieve a desired success without mastering the art of effective communication, as it is used to seek or generate important and useful business ideas, opportunities, supports, skills, seek information about potential risk, benefits, and relevant resources needed for planning, executing and controlling the factors of production required in the business. Hence, to generate or develop ideas, make plans to take advantage of opportunities, evaluate potential risks, an entrepreneur needs to constantly seek, evaluate, analyse, and classify information.
SOURCES OF INFORMATION
As mentioned earlier, information is the life-blood of every successful enterprise. For an entrepreneur to take advantage of any business situation, he/she must seek the required information in the right place considering the kind of market its product seeks to serve. Information source could be primary or secondary source.
Primary source: Here data are gathered for the first time for the sole purpose of the organisation’s objectives.
Secondary source: Information obtained here are those gathered by another person for a related purpose.
Hence the following sources of information are available for an entrepreneur:
Technical Information: Sources of technical information includes; * Local distributor or value-added reseller: Provides Information about latest/recent and most efficient technical equipment. * Training and Education: The use of recent technical equipment and tool requires adequate knowledge which could only be acquired through training and receiving proper learning programme. * Consulting: This
Just as water is life to fishes, blood to human life, also is information to the success of any business organization. When two or more persons come together to carry out business in common, they express opinion, ideas, dreams, strategies etc . through communication, also the business will need to communicate with external persons, businesses. An entrepreneur cannot achieve a desired success without mastering the art of effective communication, as it is used to seek or generate important and useful business ideas, opportunities, supports, skills, seek information about potential risk, benefits, and relevant resources needed for planning, executing and controlling the factors of production required in the business. Hence, to generate or develop ideas, make plans to take advantage of opportunities, evaluate potential risks, an entrepreneur needs to constantly seek, evaluate, analyse, and classify information.
SOURCES OF INFORMATION
As mentioned earlier, information is the life-blood of every successful enterprise. For an entrepreneur to take advantage of any business situation, he/she must seek the required information in the right place considering the kind of market its product seeks to serve. Information source could be primary or secondary source.
Primary source: Here data are gathered for the first time for the sole purpose of the organisation’s objectives.
Secondary source: Information obtained here are those gathered by another person for a related purpose.
Hence the following sources of information are available for an entrepreneur:
Technical Information: Sources of technical information includes; * Local distributor or value-added reseller: Provides Information about latest/recent and most efficient technical equipment. * Training and Education: The use of recent technical equipment and tool requires adequate knowledge which could only be acquired through training and receiving proper learning programme. * Consulting: This