Personal entrepreneurship and self-management: factors, relationships and impact on business development

Abstract

The purpose of the work is to identify the essence and factors that determine personal entrepreneurship, to define the concept of self-management and the relationship between personal entrepreneurship and self-management. It was established that the key factors of personal entrepreneurship should include ambitions (desires, aspirations, visions), which determine the direction, vector, goals of activity; an initiative that determines activity in the chosen direction; activity (energy and desire to work) in this area. The essence of personal entrepreneurship is consistent and energetic activity aimed at achieving specific, rational goals arising from ambition. Initiative and activity require motivation, the essence of which is a conscious desire for success. It has been proven that the principle of "Duties Plus" is decisive for personal entrepreneurship. It is about creating in the process of performing each job (duty) a certain added value ("Plus") that exceeds expectations. It is substantiated that the goal of enterprising people is the realization of ambitions by initiating and implementing various innovative products, technologies and management aimed at improving the economic indicators of the company and ensuring its long-term development. Such entrepreneurship is driven by intelligent self-management. An entrepreneur of a sole proprietorship simultaneously performs all management functions related to the company's activities. The implementation of these functions concerns not only the micro-enterprise, but also the person of the entrepreneur himself, reducing to self-planning, self-organization, self-motivation and self-control. Skillful self-management, in particular work planning and motivation, stimulate personal entrepreneurship, encouraging initiative and activity. The more aware and better organized self-management is, the greater the intensity of personal entrepreneurship and its effectiveness. In business, the combination of self-management with personal entrepreneurship leads to innovation and company development. The main goal of self-management is to make maximum use of one's own capabilities, to consciously manage one's life, to overcome external circumstances both in the professional and personal spheres, to achieve success in the most effective way.