Entrepreneurship

1. ENTREPRENEURSHIP
-An Introduction
Dr. C.Rajalakshumi MBA., PGDCA, M.Phil., Ph.D.,
Assistant Professor,
VVV College, Virudhunagar.
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3. • a person who sets up a business or businesses, taking on financial risks in the hope of profit.
– The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, s
ervices, and business/or procedures.
– Being entrepreneurial can mean knowing your industry inside out, and being able to e
xploit that knowledge to create new opportunities.
Who is an Entrepreneur..

4. What is ENTREPRENEURSHIP
•the activity of setting up a business or businesses, taking on fina
ncial risks in the hope of profit.
•is an act of seeking investment and production opportunity, devel
oping and managing a business venture

5. Role of Entrepreneurship
1. Optimum utilization of natural and human resources
2. Helpful in Capital Formation
3. Generation of employment
4. Balanced Regional Development
5. Improvement in living standard
6. Creativity and Innovation
7. Economic Independence
8. Establishing new venture

6. Qualities of an Entrepreneur
• Hard-Working.
•Risk-Taking.
•Innovativeness
•Highly Optimistic
•Keen foresight
•Achievement Motivation
•Competitiveness
•Prudence
•Team work
•Planning and organizing ability
•Good public relation

7. Functions of an Entrepreneur
1. Risk assumption Function
An Entrepreneur must act as a ‘risk bearing’ agent of production.
Must undertake and face uncertainties.
2. Decision making function
Take decisions in at various stages
Decide the nature and type of goods to be produced
3. Managerial Function
It is a function of coordination, organization and supervision.
All managerial functions from planning to controll
4. Function of innovation
A never ending and on going process to be carried out.
Innovation is the main lead to success.

8. TO BE A SUCCESSFUL ENTREPRENEUR - BE DIFFERENT -
BE UNIQUE

9. Factors Motivating to become
an Entrepreneur
INTERNAL FACTORS EXTERNAL FACTORS
Desire to do something new Government assistance and
support
Become independent Availability of labor and raw
material
Achieve what one wants to have in
life
Encouragement from family /
family business
Educational Background Promising demand for the
product
Experience in relevant field Market opportunity

10. THANK YOU