Slide share on ENTREPRENEURSHIP MANAGEMENT IIC SESSION ON ENTREPRENEURSHIP MANAGEMENT & DEVELOPMENTAL PHASES Institutions innovation council ~Meher Unissa ( INNOVATIVE AMBASSADOR )

1. IIC SESSION ON ENTREPRENEURSHIP MANAGEMENT &
DEVELOPMENTAL PHASES
BY
INNOVATIVE AMBASSADOR
MEHER UNNISA
SULTAN-UL-ULOOM
COLLEGE OF PHARMACY
HYDERABAD

2. ENTREPRENEURSHIP
MANAGEMENT
&
DEVELOPMENTAL PHASES
The best marketing strategy for your business.

3. CONTENTS:
● INTRODUCTION
● DEFINITION
● CHARACTERISTICS
● CLASSIFICATIONS
● ESSENTIALS OF SUCCESSFUL ENTREPRENEUR
● BENEFITS & DRAWBACKS
● ENTREPRENEURIAL DEVELOPMENT & ITS PHASES
● SWOT ANALYSIS
● CONCLUSION

4. INTRODUCTION
The word entrepreneur has an interesting definitional history and it stems from the
French word entreprendre which refers to ‘undertake’ i.e., individual who
undertake the risk of new enterprise. Richard Cantillon of France used the word
entrepreneur, in 1725 A.D. as the person who bears the risk and faces the
uncertainty of an activity. He expressed that an entrepreneur is different from a
person who supplies capital. Adam Smith (1776) described the entrepreneur as an
individual who forms an organization for commercial purpose—who is a capitalist.
CONCEPT:
An entrepreneur may be defined as an individual who intends to add value to the
economy by creating a new business venture through effective use of his
knowledge, passion, dreams and desires. An entrepreneur is a person who
evaluates the new situation in the environment and directs the making of such
adjustments or alternations in the economic or manufacturing systems as he thinks
necessary for achieving desired results.

5. DEFINITION
Different authors have given different definitions of entrepreneur. Some of the main
definitions are given below :
01 American Heritage Dictionary, defines entrepreneur as a person who
organises, operates and assumes the risk for a business venture.”
02 Richard Cantillon, described the entrepreneur an agent buying and
selling goods at uncertain prices.”
03 J.B. Say, defined an entrepreneur as the economic agent who unites all
means of production, the labour, the capital or land and earns profit. He
has compared entrepreneur with a farmer.

6. CHARACTERISTICS OF ENTREPRENEUR
1. An Individual or Group Individuals 7. Self-confidence & initiative.
2. Need for achievement 8. Human Relation Ability.
3. Independence or autonomy 9. Economic Planning.
4. Risk Bearer & Innovation 10. Entrepreneurship trait.
5. Goal Oriented & Motivator 11. Creation of a Resource.
6. Decision-making 12. Result-oriented Behaviour
There are four types of Entrepreneurs, they are:
a) Innovative Entrepreneur
b) Imitative/ adoptive Entrepreneur
c) Drone Entrepreneur
d) Fabian Entrepreneur

7. CLASSIFICATION
Definition of entrepreneurship : The activity of setting up a business or businesses,
taking on financial risks in the hope of profit.
There are mainly classified into five categories, they are:
1. Imitative Entrepreneurship
2. Innovative Entrepreneurship
3. Opportunistic Entrepreneurship
4. Administrative Entrepreneurship
5. Acquisitive Entrepreneurship
6. Incubate Entrepreneurship
7. Private Entrepreneurship
8. Public Entrepreneurship
9. Mass Entrepreneurship
10. Individual Entrepreneurship

8. ESSENTIALS OF A SUCCESSFUL ENTREPRENEUR
❏ Creative & imaginative
❏ Sharp memory
❏ Self confident
❏ Maturity
❏ Fore sighted
❏ Dynamic ideas
❏ Willingness of challenges
❏ Optimism
❏ Ambition
❏ Time management
❏ Technical management skill
❏ Decision making

9. ENTREPRENEURIAL MANAGEMENT
B. HIGGINS: “ The function of seeing investment & production opportunities; organising an enterprise to
undertake a new production process; raising capital; hiring labour, arranging for raw material, finding a site &
combining these factors of production into a going concern; introducing new techniques, new commodities,
discovering new sources of natural resources & selecting top-managers for day-to-day operations.”

10. You need to be hungry
for success, only then
you will reach the
finish line.
~Mukesh Ambani
Mukesh Dhirubhai Ambani, the
Chairman and Managing
Director of Reliance Industries,
is a business tycoon and also
the richest Indian at present.
Ambani was ranked as the
richest man in Asia by Forbes,
and the 13th richest person in
the world as of December 2019.
“My father said if you want to become an entrepreneur you will have to
figure things out on your own. Only managers are told what is to be done,
not entrepreneurs.”

11. BENEFITS:
● Creates own destiny.
● Makes difference.
● Reach one’s full potential.
● Reap extraordinary profits.
● Societal responsibility and
recognition.
● Opportunity to engage in work of
their choice.
DRAWBACKS:
● Uncertainty of income.
● Risk of losing entire investment.
● Long hours of hard work.
● Lower quality of life until the
business gets established.
● High level of stress, complete
responsibility.

12. All of us do not have equal talent.
Yet, all of us have an equal
opportunity to develop our
talents.
~ Ratan Tata
Ratan Naval Tata is an Indian industrialist, investor,
philanthropist, and former chairman of Tata Sons who is
currently serving as the chairman of Tata Trusts. The
notable industrialist is the recipient of two of the highest
civilian awards – Padma Vibhushan (2008) and Padma
Bhushan (2000).

13. ENTREPRENEURIAL DEVELOPMENT PROGRAMME:
As the term itself denotes, EDP is a programme meant to develop entrepreneurial
abilities among the people. In other words, it refers to inculcation, development, and
polishing of entrepreneurial skills into a person needed to establish and successfully
run his / her enterprise. Thus, the concept of entrepreneurship development
programme involves equipping a person with the required skills and knowledge
needed for starting and running the enterprise.
NEEDS OF EDP :
● Superior performance of entrepreneurs.
● Induce motivation and competence among the young prospective
entrepreneurs.

14. OBJECTIVES:
● Develop & strengthen the entrepreneurial quality,i.e. Motivation or need for
achievement.
● Analyse environmental setup relating to small industry and small business.
● Understand the process & procedure involved in setting up a small enterprise.
● Know the sources of help & support available for starting a small scale industry.
● Acquire the necessary managerial skills required to run a small-scale industry.
● Know the pros and cons in becoming an entrepreneur.
PHASES OF EDP:
EDP consists of following three broad phases:
a) Pre training phase.
b) Training phase.
c) Post training phase (follow-up).

15. A) Pre-training phase:
The activities and preparation required to launch the programme comes under
this phase ( designing, exploring, insertion & screening ).
A) Training phase:
The main objective of this phase is to bring desirable change in the behaviour
of trainees. ( raising the motivation, positive thinking, developing a goal, high
degree of self confidence, arousing & raising change oriented innovative psych
ETC ).
A) Post-Training phase:
This phase involves the assessment to judge how far the objectives have been
achieved. ( Review the pre-training work, the process of training programme &
past training approach ).

16. STRENGTHS, WEAKNESSES :
● Human resources - staff, volunteers,
board members, target population
● Physical resources - location, building,
equipment
● Financial - grants, funding agencies,
other sources of income
● Activities and processes, Past
experiences •
OPPORTUNITIES, THREATS:
● Future trends in your field or the culture
● The economy - local, national, or
international
● Funding sources - foundations, donors,
legislatures
● Demographics - changes in the age, race,
gender, culture.
SWOT ANALYSIS

17. SWOT ANALYSIS USES:
1. Explore new solutions to problems
2. Identify barriers that will limit
goals/objectives.
3. Decide one direction that will be
most effective.
4. Reveal possibilities and limitations
for change.

18. CONCLUSION
Entrepreneurship plays a crucial role in the growth and development of
economic system of society. Entrepreneurs play role in strengthening
economic growth of a country as well as speeds up modernization by
doing research and development.Thus, ED aims to enlarge the base of
entrepreneurs in order to hasten the pace at which new ventures are
created.This accelerates employment generation and economic
development.