Entrepreneurship

Plan your own business based on your own idea or invention.

Tasks

  • develop and implement a solid and promising strategic basis for your company: define the vision (the goal the company wants to achieve in the long term), mission (the task the company should perform in the overall system) and mission statement (the rules according to which the company wants to behave towards employees, customers, suppliers, etc.)
  • plan to pursue objectives (planning includes monitoring the extent to which the company actually achieves its objectives and making adjustments where necessary)
  • continuous observation of trends and developments, analysis of the market and reaction to (future) changes that could be important for the success of the company
  • selection of qualified employees who fit into the company, their management and development, as well as the examination and optimisation of the structures and processes in the company

Important competences

  • Business administration
  • Entrepreneurial thinking
  • Networking
  • Business start-up
  • Employee management
  • Conflict Management

Alternatives

Many founders start their first business when they have already gained professional experience. For many of them, the triggers for starting a business are rather frustration with the daily routine of the company, lack of prospects or uncertainty about their job. A spin-off directly from university is also possible.

Disadvantages

The mental approach to problems in science is quite different from the way entrepreneurs have to deal with problems. In science you usually don't care how much time you put in until you solve the problem. In contrast, founders are people who have a limited time budget or other limited resources and therefore have to find a timely solution.

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