Entrepreneurship is a process
that undertakes innovations, finance & business acumen in an effort to transform
innovations into economic goods. This process may results in new organizations
or may be part of revitalizing mature organizations in response to a perceived
opportunity. The most obvious form of entrepreneurship is starting a new
business which has been extended to social, political, lifestyle, knowledge, and
serial forms.
In a country like Pakistan where the unemployment rate is 6.10%, government is
unable to generate this huge amount of employment, so there is a need to
encourage the idea of entrepreneurship among educated individuals. Individuals
are needed to come up with new and innovative idea which shall be supported by
government, NGO's, financial institutions or angel investors. It’s not solely
the new or innovative idea that works, but also the willingness to convert the
idea into a successful business matter. Pakistan is a labor intensive country,
people are less educated and due to fewer opportunities for labor class they
have to migrate to different countries in order to find work. If government will
take this problem seriously and open different industries that would benefit to
both the parties, employment for both the educated and uneducated labor and
government will also be able to generate revenue.
Government should play its role in motivating and in encouraging the individuals
to start their own business where in the form of solo project (i.e. only
involving entrepreneur part time) or to major undertakings (i.e. creating many
job opportunities). Many governments of different countries are following it as
a policy goal to develop the culture of entrepreneurial thinking. As
Entrepreneurship is assumed important for accelerating or increasing economic
growth & it promotes capital formation & results in creating wealth in the
country. It is also considered to be a process of searching out opportunities in
a market place & arranging resources required to exploit these opportunities for
long term gains. That is why many governments are stressing upon this concept as
it has been proved to be very successful for the development of the country and
in providing employment opportunities for the people.
Multi-national Organizations and other local private organizations who are
generating a large amount of revenue from the country, they should also need to
fulfill their responsibility towards the society in which they work. The concept
of social entrepreneurship is very important in this context as social
entrepreneur is a person who is motivated by a desire to help, improve &
transform the economic, social, environmental and educational conditions. It is
a need of an hour to promote social entrepreneurs who are ambitious enough to
serve the society. Social entrepreneurs are more concerned to serve the society
by improving social and economic conditions and by providing educational
opportunities to the poor. Abdul Sattar Edhi is one of the fine example of
social entrepreneur in Pakistan. We need to encourage those people who have
enough resources as well as willingness to support any of the social cause.