Page 1 : Chapter: 8 Small Business and Enterprises 237, wth of economy: The Entrepreneurs adapt to changes as changes take place in the, avironment. The changes adopted by entrepreneurs in enterprises even bring changes, the society and economy. Latest technology used by enterprises not only brings growth, the enterprises but it also brings growth of economy at large., attained, limited, Increased profits: An entrepreneur always tries to minimise cost. He always tries to get, aptimum utilisation of resources. The reduction of cost and increase in efficiency always, oducing, t capital, result in increase in, profit., - Employment opportunities: Entrepreneurship not only provides the scope for self-, employment but also offers employment to large number of people as in the case of, successful enterprises. Growth in entrepreneurial activities leads to more and more, employment., 6. Social benefits: Entrepreneurs always try to adopt latest technology and raise the, standard of living by providing good quality products and services at lowest cost. By, setting up enterprişes in backward areas, they try to bring balanced regional growth. By, Jo pua, neurs., ducts,, making optimum utilisation of resources, they save scarce resources of society., egy of, 2. PROCESS OF ENTREPRENEURSHIP IMP, Entrepreneurs have to follow a sequence of steps before starting an enterprise. Following is, the process of entrepreneurship., 1. Self-discovery: Under this step, entrepreneur assesses what are his strengths and, weaknesses, what all he enjoys doing and his work, Self discovery, 0000000, experience., 2. Identifying opportunities: Under this step, he tries to, find out the need, want and problems so that he can get an, Identifying opportunities, LEGO, Generating and evaluating ideas, 3. Generating and evaluating ideas: Through various, measures such as discussion, brain storming, creativity, opportunity to overcome the problems and fulfil the need., Planning, and his own experiences, he tries to develop new ideas, Raising start-up capital, to overcome problems and meet the expectations of, 4. Planning: Under this step, entrepreneur conducts research,, makes business plan and strategies., Start-up, customers., 5. Raising start-up capital: By using business plan,, entrepreneur tries to attract venture capitalist and partners., kary, hip., Growth, pad, Harvest, Fig. 3