1. Gandhinagar Institute of
Technology
Mechanical engineering
Semester : 8
Division : D1
Subject : Entrepreneurship (2181923)
Active learning assignment
on
“ Entrepreneur process ”
Prepared by : Chandresh Suthar
140120119229
Guided by : Prof. Nilesh Gupta
2. Content
Introduction
Features of entrepreneurship
1. Goal oriented attitude
2. Risk taking
3. Economic approach
4. Gap filling function
5. Creative activity
6. Dynamic process
7. Managerial functions
3. Entrepreneurship
Entrepreneurship is the process undertaken by an
entrepreneur to augment his business interest.
It includes;
1. Designing
2. Launching
3. Running a new business
Entrepreneurship is a composite skill, result of mix
of tangible and intangible factors.
Intangible factors;
Imagination
Readiness to take the risk
Planning and organizing skill
Decision making skill
Introduction to
Tangible factors
Production
Capital
Labor
land
Entrepreneurship is the process of bringing both tangible and intangible factors
to offer product or service with the aim to generate profit.
4. Entrepreneurship
EnterpriseEntrepreneur
A Person
Process of action
Object
A person who starts the business is termed as “Entrepreneur”.
Through his process of action , he develops an “Enterprise”.
Output of his effort and process id known as “Entrepreneurship”
5. Featuresof
Entrepreneurship
1. Goal oriented attitude
2. Risk taking
3. Economic approach
4. Gap filling function
5. Creative activity
6. Dynamic process
7. Managerial functions
6. Goaloriented
attitude
Entrepreneur has definite goal of creating wealth
through satisfying customer needs with maximum
possibility.
Risktaking
Risk is in –built part of the part of the
entrepreneurship.
Entrepreneur takes the risk by confirming rent to
landlord, salaries to employees and interest to
financers.
7. Creativeactivity
Entrepreneurship is a creative response to change in
the environment.
It involves innovation or new introduction to existing
one.
Economic
approach
Entrepreneurship involves the creation and operation
of an enterprise.
it is primary function to create wealth through
economic approach.
8. Dynamicprocess
Entrepreneur identify the opportunities with change in
environment.
Gap-filling
function
When it seems there is a gap between human needs
and available products or service in the market.
9. Managerial
functions
Managing of business
Planning of business
Organizing resources
Monitoring on-going plans
Controlling of plans
Planning of human resources
This all salient features shows that entrepreneurship is a multi-dimensional concept