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Entrepreneurship

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  • 1. ENTREPRENEURSHIP Prepared by CHARAK RAY libra.charak@gmail.com
  • 2. Meaning of EntrepreneurAn Entrepreneur is a person who organizes and manages a business undertaking, assuming the risk for the sake of profit. Any person (any age) who starts and operates a business is an entrepreneur. Charak Ray 2
  • 3. Qualities of an EntrepreneurCourage & ConfidenceFocus & DeterminationPassion & DynamismCreativity & Risk takingCompetitiveness, Will power & Hardworking Charak Ray 3
  • 4. Early EntrepreneurshipThese early entrepreneurship programs were called different names: – Farming Program – Productive or Production Enterprises – Ownership Charak Ray 4
  • 5. Early EntrepreneurshipThe Early Entrepreneurship program primarily involved: – Raising Livestock – Growing Crops, etc. Charak Ray 5
  • 6. Entrepreneurship TodayToday, the students are involved in many different types of entrepreneurial activities.Entrepreneurship in agriculture can still be raising livestock and growing crops, but it can be much, much more than that. Charak Ray 6
  • 7. Entrepreneurship Entrepreneurship: The student plans, implements, operates and assumes financial risks in a business activity or commercial business. In entrepreneurship programs, the student owns the materials and other required inputs and keeps financial records to determine return to investments. Charak Ray 7
  • 8. Entrepreneurs Example Lawn Maintenance Service Charak Ray 8
  • 9. Entrepreneurs Example Raise and Sell Fishing Bait Charak Ray 9
  • 10. Entrepreneurs ExampleCustom Crop Harvesting Charak Ray 10
  • 11. Entrepreneurs Example Pet Sitting Service Charak Ray 11
  • 12. Entrepreneurs Example Fishing Guide Charak Ray 12
  • 13. Entrepreneurs Example Tractor and Farm Equipment Detailing Charak Ray 13
  • 14. Entrepreneurs ExampleOperating a Roadside Marketing Selling Produce. Charak Ray 14
  • 15. Entrepreneurs Example Making and Selling Christmas Wreathes Charak Ray 15
  • 16. Entrepreneurs ExampleOperating a Small Engine Repair Service. Charak Ray 16
  • 17. Aspects of Entrepreneurship1. The identification/recognition of market opportunity and the generation of a business idea (product or service) to address the opportunity. Charak Ray 17
  • 18. Aspects of Entrepreneurship2. The marshalling and commitment of resources in the face of risk to pursue the opportunity. Charak Ray 18
  • 19. Aspects of Entrepreneurship 3. The creation of an operating business organization to implement the opportunity-motivated business idea. Charak Ray 19
  • 20. Successful Entrepreneurs According to the Small Business Administration, successful entrepreneurs have five characteristics: – Drive, which is defined as the most important attribute. Entrepreneurs can expect long hours, high stress and endless problems, as they launch a new business. Charak Ray 20
  • 21. Successful Entrepreneurs According to the Small Business Administration, successful entrepreneurs have five characteristics: – Thinking Ability, or the characteristic that encompasses creativity, critical thinking, analytical abilities and originality. Charak Ray 21
  • 22. Successful EntrepreneursAccording to the Small Business Administration, successful entrepreneurs have five characteristics: – Aptitude for Human Relations. This characteristic recognizes the importance of the ability to motivate employees, sell customers, negotiate with suppliers and convince lenders. Personality plays a big part in success in this area.. Charak Ray 22
  • 23. Successful EntrepreneursAccording to the Small Business Administration, successful entrepreneurs have five characteristics: – Communication Skills, or the ability to make yourself understood. Charak Ray 23
  • 24. Successful Entrepreneurs According to the Small Business Administration, successful entrepreneurs have five characteristics: – Technical Ability speaks to the need of the entrepreneur to know their product and their market. They must consider the long- and short-term implications of their decisions, their strengths and weaknesses, and their competition. In short, they need strategic management skills. Charak Ray 24
  • 25. Entrepreneurship Some advantages – You are your own boss – Enjoy the profits from you efforts – Sense of pride in your business – Flexibility in your work schedule Charak Ray 25
  • 26. EntrepreneurshipSome disadvantages – Will need to put in long hours – Need money to start – Have to keep up with government rules and regulations – May have to mark hard decisions (hiring, firing, etc.) – May lose money Charak Ray 26
  • 27. WOMENENTREPRENEURSHIPIt is defined as “an Entrepreneur who runs an enterprise owned & controlled by her & having minimum financial interest up to 51% of the capital & giving at least 51% of the employment to women”. Charak Ray 27
  • 28. RURALENTREPRENEURSHIPIt refers to entrepreneurship emerging in rural areas.Through Rural Entrepreneurship only solution to rural poverty & backward -ness can be tackled by the Govt.It is also known as Rural Industrilisation. Charak Ray 28
  • 29. SOCIALENTREPRENEURSHIPA social entrepreneur is someone who recognizes a social problem and entrepreneurial principles to organize, create, and manage a venture to make a social change (social venture).He focuses on creating social capital.Thus, the main aim of social entrepreneurship is to further social and environmental goals. However, whilst social entrepreneurs are most commonly associated with the voluntary and not-for-profit sectors. Charak Ray 29
  • 30. THANK YOU… Charak Ray 30

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