1. Entrepreneurship has been defined and viewed in various ways over time from the 1700s to present day, with early views focusing on entrepreneurs as economic agents who transform resources into goods and services. 2. More recent definitions characterize entrepreneurs as individuals who invest in, transform, and profit or lose from new ventures by identifying opportunities, assembling resources, and implementing innovations to exploit market gaps. 3. Successful entrepreneurship is seen as driving economic development through job creation, income generation, regional development, and dispersing economic power.

1. EENNTTRREEPPRREENNEEUURRSSHHIIPP
PPrrooff.. BB..SS..SSuuddhhaakkaarraa RRaaoo
SSrr.. CCoonnssuullttaanntt
nnii--mmssmmee

2. EEaarrlliieerr VViieewwppooiinnttss ((11770000--11995500ss))
• TThhee wwoorrdd eennttrreepprreenneeuurr ccoommeess ffrroomm
FFrreenncchh wwoorrdd ‘‘eennttrreepprreennddrree’’
• ““EEnnttrreepprreennddrree”” –– iinnddiivviidduuaallss wwhhoo
uunnddeerrttaakkee ((tthhee rriisskk ooff nneeww vveennttuurreess))..

3. • ““EEnnttrreepprreenneeuurrss aarree eeccoonnoommiicc aaggeennttss
wwhhoo ttrraannssffoorrmm rreessoouurrcceess iinnttoo ggooooddss
aanndd sseerrvviicceess,, tthheerreebbyy ccrreeaattiinngg aann
eennvviirroonnmmeenntt ccoonndduucciivvee ttoo iinndduussttrriiaall
ggrroowwtthh”” [[CCaarrll MMeennggeerr,, 11887711,, PPrriinncciipplleess
ooff EEccoonnoommiiccss]]

4. • ““The entrepreneur wwaass ssaaiidd ttoo
iinnfflluueennccee ssoocciieettyy bbyy ffoorrmmiinngg
eenntteerrpprriisseess aanndd wwaass iinn ttuurrnn
iinnfflluueenncceedd bbyy ssoocciieettyy ttoo rreeccooggnniissee
nneeeeddss aanndd ttoo ffuullffiill tthhrroouugghh sskkiillffuull
mmaannaaggeemmeenntt ooff rreessoouurrcceess””
[[JJeeaann BBaabbttiissttee SSaayy,, 11990033,, FFrreenncchh
EEccoonnoommiisstt]]

5. EEnnttrreepprreenneeuurr
• EEnnttrreepprreenneeuurr iinnvveessttss,, ttrraannssffoorrmmss
aanndd mmaakkeess ((pprrooffiitt oorr lloossss))
[[RRiicchhaarrdd CCaannttiilllloonn,, FFrreenncchh eeccoonnoommiisstt]]
– IInn ootthheerr wwoorrddss,, ggooooddss aarree bboouugghhtt aatt aa
cceerrttaaiinn pprriiccee,, vvaalluuee iiss aaddddeedd bbyy
ttrraannssffoorrmmiinngg ((tthhee lleeaasstt bbeeiinngg ttoo rreeppaacckk))
tthhee ggooooddss,, aanndd tthhee ggooooddss aarree tthheenn ssoolldd aatt
aann uunncceerrttaaiinn pprriiccee..

6. • ““TThhee ttaasskk ooff ffoorrmmiinngg aann oorrggaanniissaattiioonn
ffoorr ccoommmmeerrcciiaall ppuurrppoosseess””
[[AAddaamm SSmmiitthh 11997777]]
““TThhee aabbiilliittyy ttoo ffoorreesseeee ppootteennttiiaall
tthhrroouugghh cchhaannggeess iinn tthhee eeccoonnoommyy,, aanndd
ttoo aacctt oonn tthhee ddeemmaanndd tthheerreebbyy ccrreeaatteedd””

7. AAllffrreedd MMaarrsshhaallll((11880000))::
• An ability to forecast changes in supply
and demand;
• A willingness to take on the risk of these
forecasts without being fully informed;
• Expert industry knowledge;
• Natural leadership; and
• Rare and limited talents, so rare in fact
that the skills are in limited supply.

8. David McClleland:
An entrepreneur is a person with a high need for
achievement [N-Ach]. He is energetic and a moderate
risk taker.
Peter Drucker:
An entrepreneur searches for change, responds to it
and exploits opportunities. Innovation is a specific tool
of an enterpreneur hence an effective enterpreneur
converts a source into a resource.

9. EEnnttrreepprreenneeuurrsshhiipp aanndd EEccoonnoommiicc
DDeevveellooppmmeenntt
• Employment Generation
• National Income
• Balanced Regional Development
• A Rapid Development
• Dispersal of economic power
• Better standards of living
• Creating Innovation

10. SSoocciioo--EEccoonnoommiicc BBeenneeffiittss ffrroomm
EEnnttrreepprreenneeuurrsshhiipp
• Entrepreneurship creates employment
• Entrepreneurship improves the quality of life
• Entrepreneurship contributes to a more equitable
distribution of income
• Entrepreneurship utilizes resources
• Entrepreneurship brings social benefits through
the government

11. Definition ooff EEnnttrreepprreenneeuurrsshhiipp
“ Entrepreneurship is the ability to create and build a vision from
practically nothing. Fundamentally, it is a human, creative act. It
is the application of energy to initiating and building an enterprise
or organization, rather than just watching or analyzing. This
vision requires a willingness to take calculated risks – both
personal and financial, and then to do everything possible to
reduce the chances of failure.
Entrepreneurship also includes the ability to build an
entrepreneurial or venture team to complement your (the
entrepreneur) own skills and talents. It is the knack for sensing
an opportunity where others see chaos, contradiction, and
confusion. It is possessing the know-how to find, marshal and
control resources, often owned by others.”
Professor Jeffrey Timmons (1990)

12. Entrepreneurs AArree MMaaddee aanndd NNoott BBoorrnn
“The entrepreneurial mystique?
It’s not magic, it’s not mysterious
and it has nothing to do with the
genes. It is a discipline. And like
any discipline, it can be
learned.”
…Peter Drucker

13. DDaavviidd CC.. MMccCClleellllaanndd’’ss SSttuuddyy
• Entrepreneurs are not necessarily born
• They can be developed through
systematic training
• Strong positive linkage between
entrepreneurship development and
economic development
• Any person irrespective of caste, religion,
region can learn to become successful
entrepreneurs.

14. SSIIEETTSS IInntteeggrraatteedd MMooddeell ooff
EEnnttrreepprreenneeuurrsshhiipp
Creating
awareness
Systematic
selection
In-plant
training
Entrepreneurshi
p development
Inter-disciplinar
y approach
Training of
local bodies

15. GGEEMM CCoonncceeppttuuaall MMooddeell
Social,
Cultural,
Political
context
Entrepreneurial
Frame work Conditions
•Availability of Financing
•Supporting government policies
•Cultural & Social Norms
•R & D transfer
•Commercial & legal infrastructure
•Internal & legal infrastructure
•Access to physical infrastructure
Entrepreneurial
opportunities
Entrepreneurial
Capacity
•Skills
•Motivation
Business
dynamics
National
Economic
growth

16. Menger’s Model of Value-Added
Transformation of Resources

17. FFoouurr lleevveellss ooff
eennttrreepprreenneeuurrsshhiipp tthheeoorriieess
FFiirrsstt lleevveell
TThhee eeccoonnoommiicc tthheeoorryy
-- PPrroodduuccttiivviittyy
-- JJoobb ccrreeaattiioonn
-- FFaacciilliittaatteess ttrraannssffeerr ooff tteecchhnnoollooggyy
-- CCoommmmeerrcciiaalliissaattiioonn ooff nneeww iinnvveennttiioonnss aanndd
pprroodduuccttss
-- RReessttrruuccttuurriinngg aanndd ttrraannssffoorrmmaattiioonn ooff
eeccoonnoommyy
-- IInnffoorrmmaall sseeccttoorr
-- LLooww ccoosstt ssttrraatteeggyy ooff eeccoonnoommiicc ddeevveellooppmmeenntt,, jjoobb
ccrreeaattiioonn aanndd iinnnnoovvaattiioonn

18. FFoouurr lleevveellss ooff
eennttrreepprreenneeuurrsshhiipp tthheeoorriieess
SSeeccoonndd lleevveell
HHuummaann qquuaalliittiieess // ppssyycchhoollooggiiccaall
aapppprrooaacchh
-- HHiigghh nneeeedd ffoorr aacchhiieevveemmeenntt
-- ppeerrssoonnnneell rreessppoonnssiibbiilliittyy
-- MMooddeerraattee rriisskk ttaakkiinngg
-- CCoonnccrreettee kknnoowwlleeddggee ooff tthhee rreessuullttss ooff
tthheeiirr ddeecciissiioonn

19. FFoouurr lleevveellss ooff
eennttrreepprreenneeuurrsshhiipp tthheeoorriieess
TThhiirrdd lleevveell
EEnnttrreepprreenneeuurriiaall aaccttiivviittyy aaddddrreesssseess ooff
tthhee mmaarrkkeett ccoonnsseeqquueenncceess
FFoouurrtthh lleevveell
MMaarrkkeett ccoonnsseeqquueenncceess aarree ccoommmmoonn

20. TTeecchhnnoopprreenneeuurr
• TThheeyy aarree eennttrreepprreenneeuurrss wwhhoo uusseedd
““tteecchhnnoollooggyy”” aass tthheeiirr ddrriivveenn ffaaccttoorr iinn
ttrraannssffoorrmmiinngg rreessoouurrcceess iinnttoo ggooooddss
aanndd sseerrvviicceess,, ccrreeaattiinngg aann
eennvviirroonnmmeenntt ccoonndduucciivvee ttoo iinndduussttrriiaall
ggrroowwtthh””……

21. TTeecchhnnoopprreennuueerr
A technoprenuer is an entrepreneur who is
technology savvy, creative, innovative, dynamic,
dares to be different and take the unexplored
path, and very passionate about their work. They
take challenges and strive to lead their life with
greater success. They don't fear to fail. They take
failure as a learning experience, a stimulator to
look things differently and stride for next
challenge. Technoprenuers continuously go
through an organic process of continual
improvement and always try to redefine the
dynamic digital economy.

22. EEnntteerrpprreenneeuurr vvss.. MMaannaaggeerr
• An enterpreneur is evolved
with the start-up process
• An enterpreneur assumes
financial, material and
psychological risks
• An enterpreneur is driven by
perception of opportunity
• An enterpreneur is his own
boss
• An enterpreneur gets
uncertain rewards
• A Manager with running the
business over a long period of
time
• A manager does not have to
bear risks
• A Manager by the resources he
currently possesses
• A Manager follows rules &
procedures
• A Manager is hired employee
• A Manager gets fixed rewards
and salary

23. Technoprenuers - Required Capabilities
• Should have insatiable thirst for knowledge of all technological
developments
• An expert in his chosen line
• Familiar with the intricacies of technology he promotes
• Configures all possible new directions and gives definitive
shape
• Long term oriented
• Takes unexplored path
• No fear of failure

24. Mentoring
Mentoring relationship
• Role model
• Nurture
• Care giver
Functions of mentoring
Teach Sponsor Encourage Counsel Befriend
model protect affirm listen accept
inform support inspire probe relate
confirm/ promote challenge advise clarify
disconfirm
prescribe
question
Mentoring Activities
• Demonstration lessons
• Observations and feed back
Leading
incrementally
Expressing care and concern
Opening
ourselves

25. Basic components of mentoring
• Mentoring relationship is seen as one in which
the mentee views the mentor as a role model and
where the mentor nurtures and cares for the
mentee.
• Function of mentoring the mentoring
relationship also serves five basic functions
which can be broken down in to related
behaviours.
• Mentoring activities demonstration lessons.
Observation and feedback and support meetings

26. Intrapreneurship / Corporate
Entrepreneurship
• Established through several studies
• Medium and large organizations gain
substantially through entrepreneurial approach
• Growth is possible through absorbing corporate
entrepreneurship in the enterprise
• Corporate entrepreneurship is more of training
with a positive frame of mind and also the
enrichment of the way of managing and leading
an enterprise
• Corporate entrepreneurship is of greater
relevance for any type of organisation

27. MMooddeell ooff CCoorrppoorraattee
EEnnttrreepprreenneeuurriissmm
Focus of Entrepreneurship; Organisational
(structure and systems), Teams and Individuals
Evaluation of
alternatives;
vision etc
Implementation
through people
Outcome; capability
to adapt and survive
Monitoring to
assess effectiveness
External and
internal
opportunities

28. BBuussiinneessss IInnccuubbaattoorrss
• Flexible space and leases, many times at very
low rates
• Fee-based business support services, such as
telephone answering, bookkeeping, secretarial,
fax and copy machine access, libraries and
meeting rooms
• Group rates for health, life and other insurance
plans
• Business and technical assistance either on
site or through a community referral system
• Assistance in obtaining funding
• Networking with other entrepreneurs

29. SSoocciiaall EEnnttrreepprreenneeuurrsshhiipp
• To harness skills to solve social problems and sow
the seeds for changing unjust or inefficient social
systems
• Entrepreneurs also transform social sector such as
cooperatives, health, education etc.,
Social Entrepreneurs are those:
• who have an original idea for solving an important
social problem
• have the creative and entrepreneurial drive to put
the idea into action
• do not rest until their idea has achieved far
reaching social impact

30. CCoommpprreehheennssiivvee eennttrreepprreenneeuurrsshhiipp
PPrrooggrraammmmee
• Inclusion of entrepreneurship as a component of curriculum
of technical and business education
• The development of curriculum, teaching resources and new
teaching models that emphasize student –centered learning
• Professional development of Trainees
• Building of resources centers and networks for the exchange
of best practice
• Business – education partnerships;
• Entrepreneurial orientation of schools and administrations
• Opportunities for students to experiment with venture
projects and activities.
• Student venture programmes and student business loans
• Commitment from the Ministry of MSME and other Ministries

31. EEnnttrreepprreenneeuurrsshhiipp ddeevveellooppmmeenntt
pprroocceessss
• Target group
• Selection of entrepreneurs
• Entrepreneurship Development
Programme - design and content
• Training methods
• Programme evaluation
• Follow-up