2. MEANINGMEANING :-:-
The word entrepreneur
originates from french
word enterprendre,
which means “to
initiate or undertake.”
Entrepreneur is one
who always searches
for change, responds
to it & exploit it as an
opportunity – Peter
Drucker.
Entrepreneur is an
innovator, who
introduce something
new in the economy –
Schumpeter. VANDANA INDORIAVANDANA INDORIA
3. Check Your Progress
Match the entrepreneur and his enterprise from
the following words, which are all jumbled up
Wipro, Ambani, Patel, Azimji Premji, credit
card, Reliance, Nirma, HDFC.
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5. EMERGENCE OF
ENTREPRENEURSHIP
Entrepreneurial growth- after launch ofEntrepreneurial growth- after launch of
economic planning in 1952.economic planning in 1952.
Since then no. of Entrepreneurs haveSince then no. of Entrepreneurs have
increased manifold.increased manifold.
Entrepreneurs like Tata, Birla, Ambani,Entrepreneurs like Tata, Birla, Ambani,
Dalmia etc. grew beyond the expectedDalmia etc. grew beyond the expected
size & also established new frontiers insize & also established new frontiers in
business in India & Abroad.business in India & Abroad.
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6. Up to 19Up to 19thth
century,century, entrepreneurs included thoseentrepreneurs included those
persons who earned profits from taking risks ofpersons who earned profits from taking risks of
forming a new venture & the class wasforming a new venture & the class was
differentiated from those people who earneddifferentiated from those people who earned
profits by supplying capitalprofits by supplying capital..
During 20During 20thth
century,century, they not only risk of creatingthey not only risk of creating
a new venture but also innovate new usefula new venture but also innovate new useful
products, technologies, markets, etc.products, technologies, markets, etc.
Another classAnother class of entrepreneurs is emergingof entrepreneurs is emerging
sincesince 1980’s1980’s which is calledwhich is called “intrapreneurs” or“intrapreneurs” or
“corporate entrepreneurs”.“corporate entrepreneurs”.
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9. CHARACTERISTICSCHARACTERISTICS
VisionVision
KnowledgeKnowledge
Desire to succeedDesire to succeed
IndependenceIndependence
OptimismOptimism
Value additionValue addition
InnovationInnovation
Risk-TakingRisk-Taking
Decision-MakingDecision-Making
LeadershipLeadership
Business PlanningBusiness Planning
Organization BuildingOrganization Building
Self confidenceSelf confidence
Hard workingHard working
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10. eBay
Case
Omidayar, the founder of eBay saw an
opportunity to create a marketplace where
people could find each other online, he risked
his career by quitting his job to work on eBay
full time, and he worked hard to build a
profitable company that delivers a creative and
useful service to its customers.
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11. Why Become an Entrepreneur?Why Become an Entrepreneur?
The three primary reasons that people become
entrepreneurs and start their own firms
Desire to be their own boss
Desire to pursue their
own ideas
Financial rewards
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12. Knowledge & SkillsKnowledge & Skills
RequirementRequirement
Technical skills
Writing
Oral
Listening
Coaching
Ability to
organize
Interpersonal
Being a team
player
Business
Management
Skills
Planning &
Goal setting
Decision -
Making
H.R.
Marketing
Finance
Accounting
Management
Personal
Entrepreneur
-ial Skills
Inner control
/ Disciplined
Risk-Taker
Innovative
Change-
Oriented
Ability to
Manage Change
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13. ““Intrapreneurship”Intrapreneurship” isis
entrepreneurship within an existingentrepreneurship within an existing
business structure.business structure.
The process begins by establishingThe process begins by establishing
anan
anan intrapreneurialintrapreneurial culture. This refersculture. This refers
to instilling the entrepreneurial spiritto instilling the entrepreneurial spirit
in an existing organization in order toin an existing organization in order to
innovate and grow.innovate and grow.
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14. Characteristics of anCharacteristics of an
IntrapreneurIntrapreneur
1 Often operates on the frontiers ofOften operates on the frontiers of
technology so understands multipletechnology so understands multiple
aspects of the environment.aspects of the environment.
2 Has a vision.Has a vision.
3 Possesses flexibility, problemPossesses flexibility, problem
solving skills and uses asolving skills and uses a
multi-disciplinary approach.multi-disciplinary approach.
4 Encourages open discussion andEncourages open discussion and
teamwork.teamwork.
5.5. Builds a coalition of supportersBuilds a coalition of supporters ..VANDANA INDORIAVANDANA INDORIA
15. To establish intrapreneurshipTo establish intrapreneurship
in an organization:in an organization:
1)1) Secure commitment by top, upperSecure commitment by top, upper
and middle management.and middle management.
2)2) Identify ideas and general interestIdentify ideas and general interest
areas.areas.
3)3) Use technology for greaterUse technology for greater
flexibility.flexibility.
4)4) Use a group of interestedUse a group of interested
managers.managers.
5)5) Get close to the customers.Get close to the customers.VANDANA INDORIAVANDANA INDORIA
16. Role of Entrepreneurship inRole of Entrepreneurship in
Economic DevelopmentEconomic Development
Optimum utilization ofOptimum utilization of
resources.resources.
EmploymentEmployment
opportunities.opportunities.
Std. of living.Std. of living.
Increase in GDP.Increase in GDP.
Generates ForeignGenerates Foreign
Exchange.Exchange.
Economy-strong &Economy-strong &
stable.stable.
Adequate distributionAdequate distribution
of wealth.of wealth.
Upliftment of region.Upliftment of region.
FDI’sFDI’s
Govt. benefitedGovt. benefited
(taxes)(taxes)
Tourism industryTourism industry
develops.develops.
SSI’sSSI’s
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18. DIFFERENCE BETWEENDIFFERENCE BETWEEN
MANAGERS & ENTREPRENEURMANAGERS & ENTREPRENEUR
FEATURESFEATURES ENTREPRENEUENTREPRENEU
RR
MANAGERMANAGER
Decisions Strategic Day to day
Org. Flat Hierarchical
Time span Long-term Short or medium
Imp. Role Start-up Implementation
Failures &
mistakes
Deals with them
as learning exp.
Strives to avoid
them
Risk Like moderate
risk
Careful / avoid
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22. FACTORS RESPONSIBLE FORFACTORS RESPONSIBLE FOR
EMERGENCE OFEMERGENCE OF
ENTREPRENEURSHIPENTREPRENEURSHIP
1. Background factors
2. Rewards
Social statusRecognition
Education, training & exp.
Family & other support
Financial condition
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25. Key Elements inKey Elements in
Entrepreneur’s BackgroundEntrepreneur’s Background
Supportive childhood familySupportive childhood family
environment.environment.
Having a father who is self-Having a father who is self-
employed helps.employed helps.
Education is important.Education is important.
Aged 22-45 when startingAged 22-45 when starting
venture.venture.
Work history: dissatisfied withWork history: dissatisfied with
company job but has technicalcompany job but has technical
knowledge.knowledge.VANDANA INDORIAVANDANA INDORIA
28. ENVIRONMENTAL BARRIERS
Raw-Material
Labour
Machinery
Land & Building
Financial Barriers
Other Infrastructure Requirements
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29. PERSONAL BARRIER
Lack of Confidence
Lack of Motivation
Lack of Patience
Inability to Dream
Lack of Dependability on Others
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30. SOCIETAL BARRIER
External pressures need to beExternal pressures need to be
overcome.overcome.
Graduates prefer to “get a real job”Graduates prefer to “get a real job”
Need to raise awareness of theNeed to raise awareness of the
option of starting a business.option of starting a business.
Peer group case studies can bePeer group case studies can be
particularly effective.particularly effective.
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