Entrepreneurship

1. INTRODUCTION TOINTRODUCTION TO
ENTREPRENEURSHIENTREPRENEURSHI
PP

2. INTRODUCTIONINTRODUCTION
• Entrepreneurship is the capacity andEntrepreneurship is the capacity and
willingness to develop, organise andwillingness to develop, organise and
manage a business venture along withmanage a business venture along with
any of its risks in order to make a profit.any of its risks in order to make a profit.
• It is the process of planning, organising,It is the process of planning, organising,
operating and assuming the risk of aoperating and assuming the risk of a
business venture.business venture.

3. ENTREPRENEURENTREPRENEUR
• An entrepreneur is an individual whoAn entrepreneur is an individual who
bears the risk of operating a business inbears the risk of operating a business in
the face of uncertainty about the futurethe face of uncertainty about the future
conditionsconditions

4. REASONS FOR BECOMING ANREASONS FOR BECOMING AN
ENTREPRENEURENTREPRENEUR
• IndependentIndependent
• Passion to set new standardsPassion to set new standards
• Achieving highAchieving high
• OpportunityOpportunity
• An innovative ideaAn innovative idea
• Business choiceBusiness choice
• Specific tasteSpecific taste
• Family traditionFamily tradition

5. SELF EMPLOYMENT VSSELF EMPLOYMENT VS
WAGE EMPLOYMENTWAGE EMPLOYMENT

6. ENTREPRENEURSHIP INENTREPRENEURSHIP IN
INDIAINDIA
• Employment generationEmployment generation
• Promotes capital formationPromotes capital formation
• Small business dynamismSmall business dynamism
• Balanced economic developmentBalanced economic development
• Innovations in enterprisesInnovations in enterprises
• Better standards of livingBetter standards of living
• Self-relianceSelf-reliance
• Facilitates overall developmentFacilitates overall development

7. SWOT ANALYSISSWOT ANALYSIS
STRENGTHSSTRENGTHS
Specific skillsSpecific skills
KnowledgeKnowledge
ResourcesResources
WeaknessesWeaknesses
List areas where youList areas where you
lack skills, knowledge/lack skills, knowledge/
resourcesresources
OpportunitiesOpportunities
Elements that theElements that the
person could explicitperson could explicit
ThreatsThreats
Elements that causeElements that cause
troubletrouble

8. ASSESSMENT OFASSESSMENT OF
ENTREPRENEURIAL TRAITSENTREPRENEURIAL TRAITS
• Need to achieveNeed to achieve
• PerseverancePerseverance
• Moderate risk takerModerate risk taker
• Opportunity sensingOpportunity sensing
• Analytical abilityAnalytical ability
• Using feedbackUsing feedback
• Facing uncertainityFacing uncertainity

9. Contd..Contd..
• IndependenceIndependence
• FlexibilityFlexibility
• PlannerPlanner
• Interpersonal skillsInterpersonal skills
• MotivatorMotivator
• Positive self conceptPositive self concept
• Orientation to futureOrientation to future

10. ENTREPRENEURIAL SKILLENTREPRENEURIAL SKILL
ASSESSMENTASSESSMENT
• SalesSales
• MarketingMarketing
• Financial planningFinancial planning
• AccountingAccounting
• Personnel ManagementPersonnel Management
• Personal business skillPersonal business skill
• IntangiblesIntangibles

11. ASSESSMENTASSESSMENT
• An entrepreneur is an individual whoAn entrepreneur is an individual who
bears the risk of operating a business inbears the risk of operating a business in
the face of --------- about future conditionsthe face of --------- about future conditions
• An entrepreneur is the one who ---------An entrepreneur is the one who ---------
risks of a business or an enterprisesrisks of a business or an enterprises
• Entrepreneurship is an option for---------Entrepreneurship is an option for---------