| SMART JOURNAL OF BUSINESS MANAGEMENT STUDIES |
VOL. 15 |
NO. 2 |
PAPER 5 |
10.5958/2321-2012.2019.00013.7 |
OVERCOMING THE MAJOR CHALLENGES IN NEW
ENTREPRENEURSHIP: AN ORIENTATION THROUGH SOFT SKILLS
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| Mitashree Tripathy*
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| * Orissa Engineering College, Bhubaneswar, Odisha, India
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| The impact of globalization has also brought about significant economic transformation in the business world, thus ushering in rapid changes in technology and its development and adaptation, extended competition, a pressure shift from general to international audience and many more. Today more and more individuals believe that starting their own business would provide them a platform where their passion for innovation and social responsibilities can meet. Hence the idea of stimulating entrepreneurship has caught the attention of many nations worldwide. Studies reveal entrepreneurship as an act of undertaking a work or job, to bring about both social and economic growth and promoting individuals’ fulfillment in attaining desired goals. However, the path to begin entrepreneurship is not a cake walk.
There are many challenges and obstacles for the individuals who switch over from their career as an employee to commence a new endeavor as a leader. At times, they succeed and many a time, they fail. Hence individuals must build certain skills and abilities, with a purpose of altering their ideas into action and receiving positive results. The purpose of this paper is to study the need to develop soft skills in order to overcome the challenges that new entrepreneurs face and achieve success.
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