Uploaded byDr Manu H Natesh
Chap 1
The document defines entrepreneurship as starting and managing a business while taking on financial risks to do so. It traces the historical development of the concept from military expeditions in the 16th century to innovative farmers in the 18th century. The document also discusses the need for entrepreneurship in promoting small businesses and economic growth through job creation, dynamism, balanced development, and innovation. It outlines characteristics, importance, factors influencing, functions, pros and cons, characteristics of successful entrepreneurs, and types of entrepreneurs.
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Chap 1
- 1. Entrepreneurship development Unit 1 EntrepreneurshipMANUH NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
- 2. Meaning • The wordentrepreneur originates from the French word, entreprendre, which means "to undertake." In a business context, it means to start a business. The Merriam-Webster Dictionary presents the definition of an entrepreneur as one who organizes, manages, and assumes the risks of a business or enterprise. MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
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- 4. Historical development ofthe concept entrepreneur • 16th century – military expeditions • 17th century - architects and contractors • 18th century – rich and innovative farmers • 19th century - Entrepreneurs are people that notice opportunities and take the initiative to mobilize resources to make new goods and services. MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
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- 9. The Need forEntrepreneurship MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
- 10. The Need forEntrepreneurship • Entrepreneurship promotes small business in the society. Government has accepted the fact that small firms have a crucial role to play in the economic development of the country. Most economists today agree that entrepreneurship is a necessary ingredient for stimulating economic growth and employment opportunities in all societies. Small businesses are an essential part of our future economic prosperity because of the following reasons; MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
- 11. The Need forEntrepreneurship • Employment generation • Small business dynamism • Balanced economic development • Innovations in enterprise MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
- 12. Characteristics of Entrepreneurship •Economic and dynamic activity • Related to innovation • Profit potential • Risk bearing MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
- 13. Importance of Entrepreneurship •Development of managerial capabilities • Creation of organisations • Improving standards of living • Means of economic development MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
- 14. Factors affecting Entrepreneurship •Personality Factors • Environmental factors MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
- 15. FUNCTIONS OF ANENTREPRENEUR. • Planning of the project • Management • To Face Risks • Distribution of Rewards • Sale of Products • Scale of Production MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
- 16. FUNCTIONS OF ANENTREPRENEUR. • Identifying entrepreneurial opportu nity • Turning ideas into action • Feasibility study • Resourcing • Managing the enterprise • Growth and Development MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
- 17. ? factors influencing Entrepreneurial developmentin India Economic factors • Capital • Labour • Raw Materials • Market Social factors • Social norms and values • Role models • Social pressure • Respect and Status • Security MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
- 18. Psychological factors • NeedAchievement • Withdrawal of Status Respect • Reformist • Innovator MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
- 19. pros • Bridge betweenknowledge and gap and application • Converting an idea into money • Be your own boss • Originality respected • Competition • Better utilization of skill and knowledge • Alternative career • Business opportuinity MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
- 20. cons • Remuneration • Benefits •Time management • Management • experience MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
- 21. Characteristics of asuccessful entrepreneur • Need for achievement • initiative • Risk taking • Need for independence • Social consciousness • Need for extension • Optimistic • Open minded • Commitment and conviction MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
- 22. Types of entrepreneurs Typeof business • Business entrepreneurs • Trading entrepreneurs • Industrial entrepreneurs • Corporate entrepreneurs • Agricultural entrepreneurs Use of technology • Technical entrepreneurs • Non technical entrepreneurs MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
- 23. Motivation • Pure entrepreneurs •Induced entrepreneurs • Motivated entrepreneurs • Spontaneous entrepreneurs Stage of devlopment • First generation entrepreneurs • Inherited entrepreneurs • Modern entrepreneurs • Classical entrepreneurs MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
- 24. Other categories • Urbanentrepreneurs • Rural entrepreneurs • Local entrepreneurs • Global entrepreneurs • Individual entrepreneurs • Institutional entrepreneurs • Group entrepreneurs • Private entrepreneurs • Public entrepreneurs • Women entrepreneurs • Skilled and unskilled entrepreneurs • Innovative and drone entrepreneurs MANU H NATESH MBA,M.Com. BMSEAC manu@bmsec.ac.in
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