Define SELF EMPLOYMENT?
Self-employment may be defined as, an economic activity which one may perform on his own as a gainful occupation, and this may consist of producing and selling goods, buying and selling goods, or rendering services for a price
DEFINE Small business?
A few characteristics of small business include being:
• small in size,
• requires low capital investment,
• employs small number of workers
Effective business leaders usually exhibit a combination of some of the following qualities:
1 Integrity,
2. Self-Confidence,
3.Commitment,
4. Enthusiasm,
5. Business understanding and
6. Decisiveness.
An important aspect of leadership is the ability to effectively delegate tasks
Meaning of self-employment
You know that earning is necessary for a living. persons are engaged in an economic activity which is termed as wage employment or paid employment.
There are many persons who engage themselves in an occupation or some business which they start and manage on their own. They put in their best effort and take all types of risks to pursue their careers successfully All of us have seen small grocery shops, tailoring shops, medical stores etc. in our locality. These are owned and managed by a person, with or without the help of some assistants. Their economic activities are termed as self-employment
Characteristics of self-employment
Self-employment may be defined as, an economic activity which one may perform on his own as a gainful occupation, and this may consist of producing and selling goods, buying and selling goods, or rendering services for a price
DEFINE Small business?
A few characteristics of small business include being:
• small in size,
• requires low capital investment,
• employs small number of workers
Effective business leaders usually exhibit a combination of some of the following qualities:
1 Integrity,
2. Self-Confidence,
3.Commitment,
4. Enthusiasm,
5. Business understanding and
6. Decisiveness.
An important aspect of leadership is the ability to effectively delegate tasks
Meaning of self-employment
You know that earning is necessary for a living. persons are engaged in an economic activity which is termed as wage employment or paid employment.
There are many persons who engage themselves in an occupation or some business which they start and manage on their own. They put in their best effort and take all types of risks to pursue their careers successfully All of us have seen small grocery shops, tailoring shops, medical stores etc. in our locality. These are owned and managed by a person, with or without the help of some assistants. Their economic activities are termed as self-employment
Characteristics of self-employment
1.Self-employment involves doing something on one’s own to earn one’s
livelihood.
2.It involves ownership and management of activities by a person
although he/she may take the help of one or two persons to assist him/her.
Thus, self-employment may provide employment to other persons as well
3.The earning from self-employment is not fixed.
4. The earning from self-employment is not fixed. It depends on the
income one can earn by
producing or buying and selling goods or providing services to others at a price
producing or buying and selling goods or providing services to others at a price
Importance of self-employment
1. Advantage of small business:
Small-scale business has several advantages over large- scale business. It can be easily started, and requires small amount of capital investment. The self-employment involving activities on a small-scale is a good alternative to large scale business which has brought various evils like environmental pollution, development of slums, exploitation of workers, and so on
2. Preference over wage employment
: In self-employment there is no limit of earnings as is the case with wage employment. In self-employment one can use one’s talent for own benefit.
Small-scale business has several advantages over large- scale business. It can be easily started, and requires small amount of capital investment. The self-employment involving activities on a small-scale is a good alternative to large scale business which has brought various evils like environmental pollution, development of slums, exploitation of workers, and so on
2. Preference over wage employment
: In self-employment there is no limit of earnings as is the case with wage employment. In self-employment one can use one’s talent for own benefit.
3. Developing the spirit of entrepreneurship: Entrepreneurship
involves taking risks because the entrepreneur tries to innovate new products,
new methods of production and marketing. Self-employment, on the other hand,
involves either no risk or very little risk.
4. Promotion of individualised services: Self-employment may also take the form of providing individualised services like tailoring, repair work, dispensing of medicines etc. Such services are helpful in providing better consumer satisfaction.
5. Scope for creativity: It provides opportunity for development of creativity and skills in art and crafts, leading to preservation of the cultural heritage of India. For example, we can see creative ideas reflected in handicrafts, handloom products, etc
4. Promotion of individualised services: Self-employment may also take the form of providing individualised services like tailoring, repair work, dispensing of medicines etc. Such services are helpful in providing better consumer satisfaction.
5. Scope for creativity: It provides opportunity for development of creativity and skills in art and crafts, leading to preservation of the cultural heritage of India. For example, we can see creative ideas reflected in handicrafts, handloom products, etc
1 comment:
Very useful
Post a Comment