The document discusses the role of entrepreneurs in starting and managing businesses. It states that entrepreneurs must actively search for business opportunities, identify potential products or services to offer, and analyze the feasibility of ideas. Entrepreneurs are responsible for mobilizing resources, developing business plans, and obtaining funding to launch and manage new ventures. Both individual characteristics of entrepreneurs and environmental factors influence entrepreneurship development.

1. The role of entrepreneurs in relation to
their enterprises can be explained
drawing the analogy from musicology.
Entrepreneur is not only the composer
of the music and conductor of orchestra
but also a one man band.

2. Opportunity
scouting
Identification
of specific
product
offering
Feasibility
analysis

3. Business opportunities have to be actively
searched for. Personal observation, personal
contacts, network, experience, etc., help in
identifying business opportunities.

4. From the list of opportunities
identified, the entrepreneur has to
prepare and select a small list of
projects. This is known as Zero in
process.

5. • Resource mobilization
• Scanning the environment for entrepreneurial
opportunities
• Development of product/service idea
• Assessment of feasibility of the idea and
preparation of a business plan
• Appraisal by the funding agencies
• Project commissioning and launch
• Adaptation and management of growth

6. The product offering idea must be a
feasible one. That is , it should be possible
with the available technology to convert the
idea into a reality.

7. TECHNICAL
ECONOMIC
FINANCIALCOMMERCIAL
ADMINISTRATIVE/
LEGAL

8. Entrepreneurship will never take place
spontaneously. It is a dynamic process of
interaction between the initiating person and
the environment in which he/she works. It
becomes imperative to look at both the
factors in the environment as well as the
factors in the individual .

9. The role of individual in
entrepreneurship development
Able and willing men and women are the
real source of entrepreneurship. They
jump at the first opportunity comes their
way to make it on their own. In doing so
they experience self-perceived barriers
to entrepreneurship.

10. The word ‘competence’ refers to a
composite of knowledge, skills and
a host of psychological attributes in
a person that mark his/her
effectiveness for a task.

11. INITIATIVE
SEES AND ACTS ON OPPORTUNITIES
PERSISTENCE
CONCERN FOR HIGH QUALITY OF WORK
COMMITMENT TO WORK CONTRACT

12. EFFICIENCY ORIENTATION
SYSTEMATIC PLANNING
PROBLEM SOLVING
SELF CONFIDENCE

13. PERSUASION
USE OF INFLUENCE
STRATEGIES
CONCERN FOR EMPLOYEE
WELFARE
ASSERTIVENESS