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Enterpreneurship. 01

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  • Perseverence-Determination,persistence,endurance,commitment,patience
  • Intuitive-A natural and spontaneous tendency which appears true without having some reasoning
  • Transcript

    • 1. ENTREPRENEURSHIP
      CHAPTER NO- 01.
      Presented by:-
      Vikash kumar
      Abhishek Niranjan
      Swapnil Kumari
      Sonali
      Jitendra Gupta
      Sarita Tripathi
      Pankaj Kumar Verma
      Abhishek Pratap Singh
      Pooja Gupta
      Krishan Kumar
    • 2. CONCEPTS AND DEFINATIONS OF
      ENTREPRENEURSHIP
    • 3. Entrepreneur
      An entrepreneur is a person who has possession of a new enterprise,
       venture or idea and is accountable for the inherent risks and the outcome.
      According to:
      Peter drucker : “Entrepreneur is one who always searches for change, response to it and exploit it as an opportunity”.
      Richard Schumpeter : Entrepreneur is one who innovator, raise money, collects inputs,
      Organises talent, provided leadership and set the organisation in proper order.
      International Labour Organisation, I. L.O(1982) : “ Entrepreneur are people who the
      ability to see and evaluate business opportunity; to gather necessary resources, to take advantage of them and to initiate appropriate action to ensure success”.
    • 4. Various views of the term “Entrepreneur”
      1. Entrepreneur as a Innovator :
      • The introduction of a new product in to the market.
      • 5. The discovery of a new source of supply of a raw material.
      • 6. The opening of a new market into which the specific product has not previously entered.
    • 2. Entrepreneur as an organiser :
      • Uncertainty of profits.
      • 7. Command over sufficient capital and
      • 8. Moral qualities for work judgement , perseverance and a
      knowledge about the business world.
      Entrepreneur as a Risk taker :
      Entrepreneur as an agent who buys factors of production at a certain prices in order to combine them into a product with a view to selling it at uncertain prices in future.
    • 9. Who is an Entreprenuer
      • He is a person who develops and owns his own enterprise
      • He is a moderate risk taker and works under uncertainty
      for achieving the goal.
      • He is innovative
      • He peruses the deviant pursuits
      • Reflects strong urge to be independent.
      • Persistently tries to do something better.
      • Dissatisfied with routine activities.
      • Prepared to withstand the hard life.
      • Determined but patient
      • Exhibits sense of leadership
      • Also exhibits sense of competitiveness
      • Takes personals responsibility
      • Oriented towards the future.
      • Tends to persist in the face to adversity
      • Convert a situation into opportunity.
    • 10. The characteristics of an unique entrepreneur are :
      • - Need for achievement
      • 11. - High need for power
      • 12. - Independence
      • 13. - Propensity to take risk
      • 14. - Personal modernity
      • 15. - Support
      • 16. - Business enterprise
      • 17. - Leadership
    • Entrepreneurship
      Entrepreneurship is the act of being an entrepreneur, which can be defined as "one who undertakes innovations, finance and business acumen in an effort to transform innovations into economic goods". 
      • A theory of evolution of economic activities.
      • A continuous process of economic development.
      • An ingredient to economic development.
      • Essentially a creative activity or an innovative function.
      • A risk taking factor which is responsible for an end result.
      • Usually understood with reference to individual business.
      • The name given to the factor of production, which performs the
      functions of enterprise.
      • Creates awareness among people about economic activity.
      • Generates Self-employment and additional employment
    • 18. Why Entrepreneurship
      • To improve backwardness of the people.
      • Economic development of the region.
      • To analyze resource utilization.
      • Proper utilization of human potentiality.
      • Special attention to take up new activities.
      • To create self-employment and generation of
      employment opportunity.
      • Eradication of regional imbalances.
      • Better economic gain.
    • 19. Create new jobs.
      Productivity through new technology
      Opportunity for positive and significant effect.
      Self employment
      GDP growth
      Globalization
      Sustain economic growth
      ECONOMIC DEVELOPMENT
    • 20. CLASSIFICATION OF ENTREPRENEURS
      According to the types of business.
      According to the use of technology.
      According to the motivation.
      According to the growth.
      According to stage of development.
    • 21. A. According to the types of business
      Agriculture entrepreneur
      a. Horticulture
      b. Dairy
      c. Forestry
      2. Corporate entrepreneur
      3. Industrial entrepreneur
      a. Large
      b. Medium
      c. Small
    • 22. Contd.
      4. Trading entrepreneur
      5. Business entrepreneur
    • 23. B. According to the use of technology
      Professional entrepreneur.
      2. Non-technical entrepreneur
      3. Technical entrepreneur
    • 24. C. According to the motivation
      1. Spontaneous Entrepreneur
      2. Motivated Entrepreneur
      3. Induced Entrepreneur
      4. Pure Entrepreneur
    • 25. D. According to growth
      1. Growth Entrepreneur
      2. Super growth Entrepreneur
    • 26. E. According to the stage of development
      1. First generation Entrepreneur
      2. Modern Entrepreneur
      3. Classical Entrepreneur
    • 27. Personal Entrepreneurial Competencies
      These competencies can be grouped into 3 main clusters and the EMPRETEC model has merged some of these competencies to derive 10 PECs.
      Achievement Cluster
      Opportunity Seeking and Initiative
      Risk Taking
      Demand for Efficiency and Quality
      Persistence
      Commitment to the Work Contract
    • 28. Planning Cluster
      Information Seeking
      Goal setting
      Systematic Planning and Monitoring
      Power Cluster
      Persuasion and Networking
      Independence and self-confidence
    • 29. FACTOR THAT AFFECT ENTERPRENEURSHIP GROWTH
      Economic Factor
      Capital
      Labour
      Raw material
      Market
      Infrastructure
      Social Factor
      Caste favour
      Family background
    • 30. Continue…
      Education
      Attitude of the society
      Cultural value
      Political Factor
      The Govt has to ensure the availability of required resources for the Entrepreneurship .
      Policies related to various economic aspect like Price , availability of capital , Labour and other input taxation affect the growth of Entrepreneurship.
      Promotive Govt activities like Incentives & subsidies.
      Govt policies like licenses, regulation, favoritism .
    • 31. ENTREPRENEURSHIP DEVELOPMENT PROGRAMMES
      EDP means programmes designed to help a person in strengthening his entrepreneurial motive and in acquiring skills and capabilities necessary for playing his entrepreneurial role effectively.
      A programme not touching entrepreneurial motivation and behaviour cannot be called as an EDP.
    • 32. Continue…..
      EDP primarily focuses on developing those first-generation entrepreneurs who on their own cannot become successful entrepreneur.
    • 33. NEED OF AN EDP
      Higher rate of economic growth.
      Development of backward and tribal areas.
      Creation of employment opportunities.
      Improvement in the standard of living.
      Promoting small-scale industries.
      To promote women entrepreneurship.
    • 34. NEED (Continue..)
      It covers three major variables:-
      Location
      Target group and
      Enterprise
      Any of these can become the starting point for initiating and implementing an EDP.
    • 35. OBJECTIVES OF EDP
      EDP helps entrepreneur to:-
      Develop and strengthen entrepreneurial quality and motivation.
      Analyze small industry and small business environment.
      Select project/product.
      Formulate projects.
      Understand the process and procedure of setting up of small enterprise.
      Acquire the basic management skills.
    • 36. Continue…
      6. Know the pros and cons of being a entrepreneur.
      7. Acquaint and appreciate the needed social responsibility/ entrepreneurial disciplines.
      8. Develop entrepreneurial culture.
      9. Accelerate the process of industrial and economic development.
      10. Transform the Indian economy.
    • 37. ENTREPRENEURIAL BEHAVIOURS
      Grasping opportunities.
      Taking initiative.
      Solving problems creatively.
      Managing autonomously.
      Taking responsibility for, and ownership of things.
      Seeing things through.
      Networking effectively to manage interdependence.
      Using judgment to take calculated risk.
    • 38. ENTREPRENEURIAL ATTRIBUTES
      Achievement orientation and ambition.
      Self confidence and self esteem.
      Perseverance.
      High internal locus of control.
      Action orientation.
      Preference for learning by doing.
      Hardworking.
      Creativity.
    • 39. ENTREPRENEURIAL SKILLS
      Creative problem solving.
      Persuading.
      Negotiating.
      Selling.
      Proposing.
      Managing business/projects/situations.
      Strategic thinking.
      Intuitive decision making under uncertainty.
    • 40. TYPES OF EDP IN INDIA
      Industrial Motivating Programme.
      Entrepreneurship Development Programme.
      Skill Development Programme.
      Management Development Programme.
      Entrepreneurship Awareness Training Programme.
      Product-oriented Entrepreneurship Development Training Programme.
      Target group-oriented Entrepreneurship Development Training Programme.
    • 41. STRUCTURING EDP
      Identification and careful selection of entrepreneurs.
      Developing and motivating entrepreneurial capabilities of the trainee.
      Equipping the trainee to identify viable industrial project/prepare project profiles or brief project reports.
      Equipping the trainees with basic enterprise-building skills.
      Imparting basic managerial skills.
      Helping the trainees to secure the necessary financial, infrastructural and related business assistance during the implementation of the project.
    • 42. THE OPERATIONAL PROBLEMS OF EDP
      No proper strategy.
      No local support.
      Non-availability of inputs.
      No adequate research facilities.
      Inconsistent programme design.
      No clear-cut objective.
      Lack of clarity in approach and
      Lack of creativity and commitment.
    • 43. ENTREPRENEURIAL TRAINING
      Training is the systematic instruction of staff at all levels in new attitudes or new skills.
    • 44. IMPORTANCE OF TRAINING
      The availability of skilled workers at all levels of management.
      Enables the workers to perform the work more efficiently and precisely.
      Minimises excessive scraps, defects and wastage.
      Minimises the number of accidents, as unskilled or semi skilled workers.
    • 45. IMPORTANCE OF TRAINING(cont…)
      Training reduces fatigue.
      Training enables the worker to work speedily.
      Training improves the good relation between employees and management.
      New techniques can be easily adopted by through trained employees.
      Standardization can be adopted.
    • 46. IMPORTANCE OF TRAINING(cont…)
      Training enable employees to occupy higher position of authority.
      The supervision cost can be minimised.
    • 47. OBJECTIVES OF TRAINING
      To impart basic knowledge about the industry, production and production methods.
      To build the necessary skills of new entrepreneurs
      To assist the entrepreneur to function more effectively by exposing him to the latest concept, techniques and information.
      To impart customer education and
      To impart knowledge of marketing goods
    • 48. METHODS OF TRAINING
      Individual instruction
      Group instruction
      Lecture method
      Demonstration method
      Written instructional method
      Conference
      Meeting
    • 49. DESIGNING AN ENTREPRENEURIAL TRAINING PROGRAMME
      Setting training objectives
      Training objectives
      Developing course content
      Choosing appropriate training methods
    • 50. MODULES OF TRAINING PROGRAMME
      Introduction of entrepreneurship
      Motivation training
      Essentials of management
      - general management
      - marketing management
      - production management
      - financial management
    • 51. MODULES OF TRAINING PROGRAMME(cont.)
      Fundamentals of feasibility study
      Organizing the business
      Plant visit
    • 52. QUALITIES OF AN ENTREPRENEUR
      Motivation towards achievement
      Creativity
      Clarity
      Innovative
      Risk-taking
      Flexibility
      Adaptability
    • 53. QUALITIES OF AN ENTREPRENEUR(cont..)
      Determination
      Will power
      Tactfulness
      Self-confidence
      Intelligent
      instinct
    • 54. TRAITS OF AN ENTREPRENEUR
      Decision making
      Setting standards
      Multi tasking
      Building relationship
      Dedication
      Resolving conflict
      Team player
      Honesty
    • 55. TRAITS OF AN ENTREPRENEUR(cont…)
      Approachable
      Appreciating skills
      Integrity
      Trust
      Passion
      Patience
      Capability
      Involvement
    • 56. ENTREPRENEUR vs PROFESSIONAL MANAGER
      Features of a professional manager
      Specialist
      Skilled, knowledgeable
      Strategic planning
      Formal communication
      Organizing
      Controlling
      Motivating.
    • 57. DISTINGUISHING FEATURES OF A MANAGER AND AN ENTREPRENEUR
      MANAGER
      Primary motive-want promotion, reward& power.
      Managers are employees(specific role)
      Limited scope of innovation and creativity
      Managerial jobs are transferable
      Manager do not bear risk
      Managers need team building and leadership role.
      Manager need knowledge and expertise.
    • 58. ENTREPRENEUR
      Primary motives-want freedom, goal oriented & self motivated
      Entrepreneurial function is organsing production.
      Decision making and calculated risk bearing.
      Has all round responsibility.
      Public relation and team building.
      High level of achievement and motivation.
      Innovative, imaginative soul.

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