The document discusses key concepts relating to entrepreneurship including:
- The definition and evolution of the term "entrepreneur" from a military leader to someone who takes risks to start a business.
- The functions of an entrepreneur including decision making, risk taking, and identifying opportunities.
- Different types of entrepreneurs such as those classified by the scale and type of business.
- The concept of entrepreneurship as a creative process of setting up a business from new ideas and taking calculated risks.
- The development of entrepreneurship through training programs and the importance of an entrepreneurial culture that encourages innovation.
2. PRIYANKA SAHU
Contents :
Meaning of entrepreneur
Evolution of the concept
Functions of an entrepreneur
Types of entrepreneur
Intrepreneur
Concept of entrepreneurship
Evolution of entrepreneurship
Development of entrepreneurship
Entrepreneurial culture
Stages in entrepreneurial process
4. PRIYANKA SAHU
Meaning of entrepreneur
The word entrepreneur is derived from French word
“ Entrependre” means one who undertake risks.
An entrepreneur is an individual who takes initiative to
bundle resources in innovative ways and and is willind
to bear risk or uncertainty to act. An entrepreneur is a
person who starts an enterprise. He searches for
change and responds to it. The capacity and
willingness to develop organise and manage a business
venture along with any of the risk in order make profit.
5. PRIYANKA SAHU
Evolution of the concept
In the early 16th century , a leader of the military expendition
was called an entrepreneur. In 17th century construction and
fortification contractors were called entrepreneur . The oxford
dictionary ( 1897)defines the word entrepreneur as “The
director or manager of a public musical institution , one who
gets up entertainment especially musical performance”.
A close look at these meaning which has evolved with time
seems to suggest that in the earliest period , a person who was
strong , took orders and went in search of new lands as part of
military expendition was an entrepreneur which later shifted
to mean a person with extraordinary idea to build forts that
could stand all attacks was an entrepreneur .
6. PRIYANKA SAHU
Evolution of the concept
whatever is the road that these terms as taken one
thing seem to stand out i.e, a person with a rare blend
of qualities like organising skill, mental ability,
adventurous attitude, love for hard work, clear in
goals, objectives, highly optimistic, emotionally stable,
self confident, positive attitude with desire to take risk
is an entrepreneur.
7. PRIYANKA SAHU
Functions of an entrepreneur
Decision making
Management control
Portfolio management
Risk taking and uncertainty bearings
Organisation resources
Taking initiation
Social responsibility
Innovation
Identification of opportunities
8. PRIYANKA SAHU
Types of entrepreneur
Based on functional entrepreneur
1) Innovating entrepreneur
2) Imitative entrepreneur
3) Fabians entrepreneur
4) Drone entrepreneur
Based on scale of operation
1) Small scale entrepreneur
2) Medium scale entrepreneur
3) Large scale entrepreneur
9. PRIYANKA SAHU
Types of entrepreneur
Based on type of business
1) Trading entrepreneur
2) Industrial entrepreneur
3) Corporate entrepreneur
4) Agriculture entrepreneur
Based on technical skill
1) Technical entrepreneur
2) Non technical entrepreneur
Based on person
1) First generation entrepreneur
2) Entrepreneur by inheritance
10. PRIYANKA SAHU
Intrapreneur
An intrapreneur is an inside entrepreneur within a
large firm, who uses entrepreneurial skills without
incurring the risks associated with those activities.
Intrapreneur s are usually employees within a company
who are assigned to work on a special idea or project,
and they are instructed to develop the project like an
entrepreneur would. Intrapreneur usually have the
resources and capabilities of the firm at their disposal.
11. PRIYANKA SAHU
Difference between entrepreneur & intrapreneur
Basis Entrepreneur Intrapreneur
Meaning Entrepreneur is person
who set up his own
business with a new idea
or concept.
Intrapreneur is an
employee of the
organisation who is in
charge of undertaking
innovations in product,
service , process etc.
Resources Uses own resources Use resources provided
by the company.
Enterprise Newly established An existing one
Dependency An entrepreneur is
independent in his
operations.
An intrapreneur is
dependent on the
entrepreneur , i.e, the
owner
12. PRIYANKA SAHU
Difference between entrepreneur & intrapreneur
Freedom Has freedom and
autonomy. Need not
report to anyone unless
has investors.
Has freedom and
autonomy for
professional growth ,but
may have report to
whenever hired them.
Risk An entrepreneur bears
the risk involved in the
business.
An intrapreneur does not
fully bear the risk
involved in the enterprise
Operation An entrepreneur operates
from outside.
On the contrary, an
intrapreneur operates
from within the
organisation itself.
Decisions collaborative decisions to
execute dreams.
Independent decisions to
execute dreams.
14. PRIYANKA SAHU
Concept of entrepreneurship
Entrepreneurship can be described as a process of action
an entrepreneur undertakes to establish his enterprise.
Entrepreneurship is a creative activity. It is the ability
to create and build something from practically
nothing. It is a knack of sensing opportunity where
others see contradiction and confusion.
Entrepreneurship is the attitude of mind of seek
opportunities, take calculated risks and derive benefits
by setting up a venture.
16. PRIYANKA SAHU
Development of Entrepreneurship
Entrepreneurship development or growth refers to the
process of enhancing entrepreneurial skills and
knowledge through structured training and
institutions building programmes.
To create the employment opportunity.
Choosing the correct location.
Through the balancing of demand and supply.
17. PRIYANKA SAHU
Entrepreneurial culture
An entrepreneurial culture is an environment where
someone is motivated to innovate, create and take risks. In
a business, an entrepreneurial culture means that employees are
encouraged to brainstorm new ideas or products. When work
time is dedicated to these activities, it is called intrapreneurship.
Culture of a business
Business ethics
Productivity culture
Total quality
Customer care
Organisation culture
18. PRIYANKA SAHU
Stages in entrepreneurial process
Persuade others
Establish vision
Indentify an opportunity
Change /adopt with time
Create new venture, product
Gather resources
