Entrepreneurship a summary

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Entrepreneurship a summary

  1. 1. ENTREPRENEURSHIP Prepared by CHARAK RAY libra.charak@gmail.com
  2. 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. 3. Qualities of an EntrepreneurCourage & ConfidenceFocus & DeterminationPassion & DynamismCreativity & Risk takingCompetitiveness, Will power & Hardworking Charak Ray 3
  4. 4. Early EntrepreneurshipThese early entrepreneurship programs were called different names: – Farming Program – Productive or Production Enterprises – Ownership Charak Ray 4
  5. 5. Early EntrepreneurshipThe Early Entrepreneurship program primarily involved: – Raising Livestock – Growing Crops, etc. Charak Ray 5
  6. 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. 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. 8. Entrepreneurs Example Lawn Maintenance Service Charak Ray 8
  9. 9. Entrepreneurs Example Raise and Sell Fishing Bait Charak Ray 9
  10. 10. Entrepreneurs ExampleCustom Crop Harvesting Charak Ray 10
  11. 11. Entrepreneurs Example Pet Sitting Service Charak Ray 11
  12. 12. Entrepreneurs Example Fishing Guide Charak Ray 12
  13. 13. Entrepreneurs Example Tractor and Farm Equipment Detailing Charak Ray 13
  14. 14. Entrepreneurs ExampleOperating a Roadside Marketing Selling Produce. Charak Ray 14
  15. 15. Entrepreneurs Example Making and Selling Christmas Wreathes Charak Ray 15
  16. 16. Entrepreneurs ExampleOperating a Small Engine Repair Service. Charak Ray 16
  17. 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. 18. Aspects of Entrepreneurship2. The marshalling and commitment of resources in the face of risk to pursue the opportunity. Charak Ray 18
  19. 19. Aspects of Entrepreneurship 3. The creation of an operating business organization to implement the opportunity-motivated business idea. Charak Ray 19
  20. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 30. THANK YOU… Charak Ray 30

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