About entrepreneurs and entrepreneurship. Also about the initiatives of the Government of India to promote entrepreneurs.

1. INTRODUCTION TO
ENTREPRENEURSHIP
ANJALI DAS V.M
MBA
RAJADHANI BUSINESS SCHOOL

2. ENTREPRENEUR
 Persons who runs a business , considering the risks and rewards of the venture.
 They have the skills to anticipate the current and future needs and bring good
ideas to the market.
 Entrepreneur is a person who can convert the ideas into concepts and then to a
finished product or services.

3. CHARACTERISTICS OF AN
ENTREPRENEUR
 Should have the qualities of a leader.
 Should be a risk taker.
 Should have the determination to succeed.
 Should not depend on others.
 Should have the ability to control.
 Should be flexible and a stress taker.
 Should be innovative and creative.
 Should have dedication in work.
 Should exploit the resources to its maximum.

4. TYPES OF ENTREPRENEUR
 Innovative entrepreneur: Individuals who has the ability to create innovative products to the market.
 Imitative entrepreneur: individuals who imitate successful innovations.
 Fabian entrepreneur: Second generation entrepreneur, who do not initiate any inventions. Follow
only after they are satisfied with the success rate.
 Drone entrepreneur: Conservative people who don’t want to make changes even if they are
suffering losses.

5. ENTREPRENEURIAL TRAITS
 Self-confidence
 Ethics & morals
 Self-motivation
 Time management
 Take necessary measure to promote sales.
 Administration skills
 Basic knowledge about finance.
 Vision and leadership skills
 Conflict management
 Communication skills
 Interpersonal skills
 Problem solving skills
 Technical skills

6. OPPORTUNITIES FOR ENTREPRENEURS
IN INDIA
 Tourism
 Automobiles
 Textiles
 Software
 Engineering goods
 Franchising
 Education and training
 Food processing
 Media
 Ayurveda and traditional medicine
 Biotechnology
 Organic farming
 Floriculture

7. OPPORTUNITIES FOR ENTREPRENEURS
IN ABROAD
 System engineering
 Restaurant
 Travel agencies
 Language schools
 Skincare company
 Mobile phones
 Fashion and beauty
 Media and entertainment
 Food and agribusiness

8. COMPARISON BETWEEN ENTREPRENEURS,
MANAGER AND INTRAPRENEUR

9. FORMS OF BUSINESS
 Sole-Proprietorship: Owned by only one person.
 Partnership: Owned by 2 or more persons and the partners divide the profit
among themselves.
 Joint-stock company: Company legally owned by the shareholders and
managed by an elected Board of Directors.
 Co-operative organization: Legal entity owned and operated by a group of
individuals having a common objective.

10. ENTREPRENEURSHIP
 Performing the activities of an entrepreneur.
 Ability of an entrepreneur to develop and establish a business enterprise and
perform all the functions involved in it.
 Generally regarded as setting-up new enterprise.

11. FACTORS INFLUENCING
ENTREPRENEURSHIP
It can be classified into 2
 Economic factors
 Non-economic factors

12. ECONOMIC FACTORS
 Availability of economic resources: Availability of natural and physical resources.
 Economic conditions: It includes inflation and interest rates, unemployment, per capita income, exchange rate
etc.
 Economic policies: It determine the volume and direction of business.
 Labor policies: Productivity of Labor is an important factor.
 Trade policies: if the trade policy support sufficient supply of goods then it will motivate the entrepreneur.
 Tariff policies: high tariff rates affect the demand level.
 Incentives: it includes interest free loans, consideration to NRI’s and women entrepreneur etc.
 Subsidies: Government creates favorable conditions.

13. NON-ECONOMIC FACTORS
 Social factors: Society plays a major role.
 Cultural factors: Influenced by culture and religion.
 Personality factors:
 Psychological factors
 Sociological factors
 Technological factors: technological growth motivates entrepreneurs.
 Educational factors
 Motivation

14. ROLE OF ENTREPRENEURSHIP IN
ECONOMIC DEVELOPMENT
 Provides employment opportunities.
 Balanced regional development: Social development like transport facilities, education, health etc.
improves.
 Increase in national income.
 Promote export of goods and services which brings huge foreign exchange services.
 Helps to introduce new products and services to the market.
 Reduce the monopoly of few industries in the market.
 Creating innovation.
 Improves the standard of living.
 Improves the technology.
 Introduce welfare services like insurance, healthcare and comfort facilities.

15. ASPECTS OF ETHICS IN
ENTREPRENEURSHIP
 Employees: How the employees are treated, selected, paid etc.
 Customers: Ensure the health, rights and safety of the customer.
 Dealers: Use the terms and conditions that are legally valid.
 Suppliers: Clearing the bills in time to the creditors.
 Investors: Investors should get their rightful shares of the profit regularly.
 Advertisements: Don’t make false or exaggerated claims.
 Environment: Ensure there is no pollution because of the firm.
 Government: entrepreneurs are obliged to join hands with the government.
 Society: Promote human welfare.

16. RESPONSIBILITY OF AN ENTREPRENEUR
TOWARDS SHAREHOLDERS
 Reasonable dividend: Shareholders expect high rate of return. It is the responsibility of the
management to ensure that shareholders are getting huge dividend.
 Soundness: Responsibility of the management to ensure the financial position of the company.
 Information: The information regarding the financial position of the company has to be disclosed to
them.
 Protection of assets: Management is responsible to protect the assets.

17. RESPONSIBILITY OF AN ENTREPRENEUR
TOWARDS EMPLOYEES
 Fair wages: pay reasonable wages and salaries.
 Provide good working conditions.
 Should provide service benefits like housing and medical facilities, insurance etc.
 Ensure the cooperation of the workers.
 Should recognize the rights of the workers like right to fair wages, participation in decision making
etc.
 Give them the opportunity to grow.

18. RESPONSIBILITY OF AN ENTREPRENEUR
TOWARDS CUSTOMERS
 Ensure the satisfaction of customers.
 Provide right quality goods to the right people at the right time and place at reasonable price.
 Provide an adequate and courteous service.
 Ensure the advertisements and statements are true and fair.
 Ensure the unethical practices like black marketing, adulteration etc. is not taking place in the
business.

19. RESPONSIBILITY OF AN ENTREPRENEUR
TOWARDS SUPPLIERS
 Giving regular orders.
 Dealing on fair terms and conditions.
 Availing reasonable credit period.
 Informing about the tastes of consumers.
 Timely payment of dues.
 Informing them for future development plans.

20. RESPONSIBILITY OF AN ENTREPRENEUR
TOWARDS CREDITORS
 Provide accurate information about the financial health of the organization,.
 Ensure a reasonable price for the articles supplied.
 Promote a healthy atmosphere.

21. RESPONSIBILITY OF AN ENTREPRENEUR
TOWARDS GOVERNMENT
 Obey the laws of the nation.
 Pay taxes.
 Avoid corrupting government employees.
 Discourage the tendencies of concentration of economic power and monopoly.
 Encourage fair trade practices.

22. RESPONSIBILITY OF AN ENTREPRENEUR
TOWARDS SOCIETY
 Provide employment opportunities.
 Efficient use of resources.
 Contribute towards the welfare of societies.

23. WOMEN ENTREPRENEURSHIP
 According to the definition given by Government of India “A women
entrepreneur is defined as an enterprise owned and controlled by woman
having a minimum financial interest of 51% of the capital and giving at least 51%
employment generated to women”
 Business started by a woman or group of women.

24. OPPORTUNITIES OF WOMEN
ENTREPRENEURS
 Biotechnology
 iT enabled enterprises
 Event management
 Floriculture
 Sericulture
 Food, fruits and vegetable processing

25. CHALLENGES OF WOMEN
ENTREPRENEURS
 Limited access to funding.
 Balancing business and family life.
 Fear of failure.
 Lack of confidence.
 Legal, statutory and procedural formalities.
 Technological challenges.
 Government assistance problems.
 Decision making and problem solving
 Problems of marketing.
 Insufficient professional and technical training.

26. STAND UP INDIA SCHEME
 Launched by Prime minister Narendra Modi on April 5th 2016 to support
entrepreneurship among women and SC&ST communities.
 Scheme offers bank loans of between 10 lakh and 1 crore rupees.
 The enterprise may be in manufacturing, services or the trading sector.
 In case of non-individual enterprise at least 51% of the shareholding and
controlling stake should be held by either an SC/ST or woman entrepreneur.

27. START UP INDIA SCHEME
 Announced by Indian prime minister Narendra Modi during his 15 August 2015
address from the Red Fort.
 Action plan of this initiative is based on the 3 pillars:
1. Simplification and handholding
2. Funding support and incentives.
3. industry-academia partnership and incubation
 Encourage entrepreneurship within the country.
 Promote India across the world as a start up hub.

28. MAKE IN INDIA POLICY
 Launched by the Government of India in 2014 to encourage companies to
manufacture their products in India.
 Covering 25 sectors of economy including automobiles, aviation, biotechnology,
chemicals, railways, textiles and garments, wellness etc.
 It helps to attract capital and technological investment in India.
 It facilitate investment, foster innovation and enhance skill development.