Chap 1
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The document defines entrepreneurship as starting and managing a business while taking on financial risks to do so. It traces the historical development of the concept from military expeditions in the 16th century to innovative farmers in the 18th century. The document also discusses the need for entrepreneurship in promoting small businesses and economic growth through job creation, dynamism, balanced development, and innovation. It outlines characteristics, importance, factors influencing, functions, pros and cons, characteristics of successful entrepreneurs, and types of entrepreneurs.
Chap 1
- 1. Entrepreneurship development Unit 1 EntrepreneurshipMANU H NATESH MBA,M.Com. BMSEAC [email protected]
- 2. Meaning • The word entrepreneur originates from the French word, entreprendre, which means "to undertake." In a business context, it means to start a business. The Merriam-Webster Dictionary presents the definition of an entrepreneur as one who organizes, manages, and assumes the risks of a business or enterprise. MANU H NATESH MBA,M.Com. BMSEAC [email protected]
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- 4. Historical development of the concept entrepreneur • 16th century – military expeditions • 17th century - architects and contractors • 18th century – rich and innovative farmers • 19th century - Entrepreneurs are people that notice opportunities and take the initiative to mobilize resources to make new goods and services. MANU H NATESH MBA,M.Com. BMSEAC [email protected]
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- 9. The Need for Entrepreneurship MANU H NATESH MBA,M.Com. BMSEAC [email protected]
- 10. The Need for Entrepreneurship • Entrepreneurship promotes small business in the society. Government has accepted the fact that small firms have a crucial role to play in the economic development of the country. Most economists today agree that entrepreneurship is a necessary ingredient for stimulating economic growth and employment opportunities in all societies. Small businesses are an essential part of our future economic prosperity because of the following reasons; MANU H NATESH MBA,M.Com. BMSEAC [email protected]
- 11. The Need for Entrepreneurship • Employment generation • Small business dynamism • Balanced economic development • Innovations in enterprise MANU H NATESH MBA,M.Com. BMSEAC [email protected]
- 12. Characteristics of Entrepreneurship • Economic and dynamic activity • Related to innovation • Profit potential • Risk bearing MANU H NATESH MBA,M.Com. BMSEAC [email protected]
- 13. Importance of Entrepreneurship • Development of managerial capabilities • Creation of organisations • Improving standards of living • Means of economic development MANU H NATESH MBA,M.Com. BMSEAC [email protected]
- 14. Factors affecting Entrepreneurship • Personality Factors • Environmental factors MANU H NATESH MBA,M.Com. BMSEAC [email protected]
- 15. FUNCTIONS OF AN ENTREPRENEUR. • Planning of the project • Management • To Face Risks • Distribution of Rewards • Sale of Products • Scale of Production MANU H NATESH MBA,M.Com. BMSEAC [email protected]
- 16. FUNCTIONS OF AN ENTREPRENEUR. • Identifying entrepreneurial opportu nity • Turning ideas into action • Feasibility study • Resourcing • Managing the enterprise • Growth and Development MANU H NATESH MBA,M.Com. BMSEAC [email protected]
- 17. ? factors influencing Entrepreneurial development in India Economic factors • Capital • Labour • Raw Materials • Market Social factors • Social norms and values • Role models • Social pressure • Respect and Status • Security MANU H NATESH MBA,M.Com. BMSEAC [email protected]
- 18. Psychological factors • Need Achievement • Withdrawal of Status Respect • Reformist • Innovator MANU H NATESH MBA,M.Com. BMSEAC [email protected]
- 19. pros • Bridge between knowledge and gap and application • Converting an idea into money • Be your own boss • Originality respected • Competition • Better utilization of skill and knowledge • Alternative career • Business opportuinity MANU H NATESH MBA,M.Com. BMSEAC [email protected]
- 20. cons • Remuneration • Benefits • Time management • Management • experience MANU H NATESH MBA,M.Com. BMSEAC [email protected]
- 21. Characteristics of a successful entrepreneur • Need for achievement • initiative • Risk taking • Need for independence • Social consciousness • Need for extension • Optimistic • Open minded • Commitment and conviction MANU H NATESH MBA,M.Com. BMSEAC [email protected]
- 22. Types of entrepreneurs Type of business • Business entrepreneurs • Trading entrepreneurs • Industrial entrepreneurs • Corporate entrepreneurs • Agricultural entrepreneurs Use of technology • Technical entrepreneurs • Non technical entrepreneurs MANU H NATESH MBA,M.Com. BMSEAC [email protected]
- 23. Motivation • Pure entrepreneurs • Induced entrepreneurs • Motivated entrepreneurs • Spontaneous entrepreneurs Stage of devlopment • First generation entrepreneurs • Inherited entrepreneurs • Modern entrepreneurs • Classical entrepreneurs MANU H NATESH MBA,M.Com. BMSEAC [email protected]
- 24. Other categories • Urban entrepreneurs • Rural entrepreneurs • Local entrepreneurs • Global entrepreneurs • Individual entrepreneurs • Institutional entrepreneurs • Group entrepreneurs • Private entrepreneurs • Public entrepreneurs • Women entrepreneurs • Skilled and unskilled entrepreneurs • Innovative and drone entrepreneurs MANU H NATESH MBA,M.Com. BMSEAC [email protected]
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