This document provides an overview of entrepreneurship including: the concept of entrepreneurship and importance of entrepreneurship; functions and characteristics of entrepreneurs; differences between entrepreneurs and managers; the entrepreneurial process involving identifying opportunities, developing a business plan, determining required resources, and managing the enterprise; and the ethics and social responsibility of entrepreneurship.
This topic is related to Business, which is Entrepreneurship development. It can refer by any technical & Management students. It is useful for B.Tech and MBA students under BPUT Syllabus 2014
This topic is related to Business, which is Entrepreneurship development. It can refer by any technical & Management students. It is useful for B.Tech and MBA students under BPUT Syllabus 2014
Theories of entrepreneurship:
Innovation Theory by Schumpeter & Imitating,
Theory of High Achievement by McClelland,
X-Efficiency Theory by Leibenstein,
Theory of Profit by Knight, Theory of Social change by Everett Hagen.
An economic theory
Risk bearing theory of Knight
Innovation theory of Schumpeter
Leibenstein X-efficiency theory
Harvard School theory
Theory of Market Equilibrium by Hayek
McClelland’s Achievement Motivation Theory
Theory of Change
Theory of Adjustment of Price
Theory of Entrepreneurial Supply
Theory of Personal Resourcefulness
Theory of Cultural Values
Introduction to entreprenershipunit i to vanandmohandass
Introduction, Meaning Characteristics, Factors, Functions, Types, Challenges, Women Entrepreneurship, MSMEs, Business Plan & Model, Feasibility analysis, etc..
Chapter 1 Entrepreneurship Concept Unit-I - Mohsin Dadi (Parul University)Parul University
Defining Entrepreneur
Characteristic of successful entrepreneurs
Concept of Entrepreneurship
Knowledge and skills requirement as an Entrepreneur
Characteristic of entrepreneurship
Types of Entrepreneurs
Entrepreneurial Traits
Entrepreneurship as Career Option
Theories of entrepreneurship:
Innovation Theory by Schumpeter & Imitating,
Theory of High Achievement by McClelland,
X-Efficiency Theory by Leibenstein,
Theory of Profit by Knight, Theory of Social change by Everett Hagen.
An economic theory
Risk bearing theory of Knight
Innovation theory of Schumpeter
Leibenstein X-efficiency theory
Harvard School theory
Theory of Market Equilibrium by Hayek
McClelland’s Achievement Motivation Theory
Theory of Change
Theory of Adjustment of Price
Theory of Entrepreneurial Supply
Theory of Personal Resourcefulness
Theory of Cultural Values
Introduction to entreprenershipunit i to vanandmohandass
Introduction, Meaning Characteristics, Factors, Functions, Types, Challenges, Women Entrepreneurship, MSMEs, Business Plan & Model, Feasibility analysis, etc..
Chapter 1 Entrepreneurship Concept Unit-I - Mohsin Dadi (Parul University)Parul University
Defining Entrepreneur
Characteristic of successful entrepreneurs
Concept of Entrepreneurship
Knowledge and skills requirement as an Entrepreneur
Characteristic of entrepreneurship
Types of Entrepreneurs
Entrepreneurial Traits
Entrepreneurship as Career Option
About Entrepreneurship Development , Need, types, functions, characteristics, barriers, Entrepreneurship Development Cycle
Life cycle of a Business venture
Identification of Potential Entrepreneurs
Strategies for ED
Business Incubation
Igniting Young Minds – for Entrepreneurship - Entrepreneurship - Overview - P...Resurgent India
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THE ENTREPRENEURIAL AND INTRAPRENEURIAL MINDFallahchay Ali
This is second chapter of Entrepreneurship and Business Planning.
The contents discusses in this chapter are as follow:
1. THE ENTREPRENEURIAL PROCESS
2. Aspects of Entrepreneurial process
3. Managerial Vs. Entrepreneurial decision making
4. CAUSES FOR INTEREST IN INTRAPRENEURIALSHIP
5. Corporate Vs. Intrapreneurial Culture
6. Climate for Intrapreneurship
7. Intrapreneurial Leadership Characteristics
8. Establishing Intrapreneurship in the Organization
I hope readers find this paper useful and enjoy from reading it.
Thank you
This topic is related to Business, which is Entrepreneurship development. It can refer by any technical & Management students. It is useful for B.Tech and MBA students under BPUT Syllabus 2014
ENTREPRENEURSHIP FOR FRESHMAN STUDENTS AT HIGHER EDUCATIONAL INSTITUTION . PPTbirhanu54
Entrepreneurship is the ability and readiness to develop, organize and run a business enterprise, along with any of its uncertainties in order to make a profit. The most prominent example of entrepreneurship is the starting of new businesses.
Similar to Chapter 1 concept and nature of entrepreneurship (20)
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1. CHAPTER ONE
SUMMARY
1. Concept of Entrepreneurship
2. Importance of Entrepreneurship
3. Function an characteristics of
Entrepreneurship
4. Entrepreneur Vs Manager
5. The entrepreneurship process
6. Ethics and Social Responsibility of
Entrepreneurship
2. 1. Concept of
Entrepreneurship
It is the process of creating something new with
value by devoting the necessary time and
effort, assuming financial, psychic, and social
risks and receiving the resulting reward.
It is also defined as the dynamic process of
creating incremental wealth.
It is the ability to create and build a vision from
practically nothing.
3. Concept of . . .
In all the definitions of entrepreneurship, we
are talking about a kind of behavior that
includes;
i. Initiative taking
ii. Organizing and re-organizing of social and
economic mechanism to run resources
iii.The acceptance of risks of failure.
4. Who is Entrepreneur?
He/she is one who undertakes to organize,
manage and assume risks of a business.
(peter, 2008)
An innovator/developer
Recognize and seizes opportunities,
convert those opportunities into
workable/marketable ideas.
Add values through time, effort, money or
skills,
Assumes the risk of the competitive
market place to implement those ideas.
5. 2. Importance of
Entrepreneurship
Helps entrepreneurs to fulfill their
personal needs
New venture has economical contribution
Increase national income by creating new
jobs
Act as a positive force in economic growth
Bridge the gap b/n innovation and the
marketplace.
6. 3. Function of Entrepreneur
Innovation (material resources)
Bearing risk and uncertainty
Organization building
• Perception of market opportunities
• Purchasing
• Marketing
• Dealing with bureaucrats
• Managing etc.
7. 4. Characteristics of . . .
(what personal qualities do they have?)
Clear vision and objective
Drive to achieve
Commitment
Initiative taking
Persistent problem solving
Self confidence
Tolerance of uncertainty & failure etc
8. Entrepreneurship Vs Small
Business Ownership
Entrepreneurship describes specific
approach to business dev’t and ownership
It is a way of thinking that focuses on
innovation /innovative product/
3-steps description of entrepreneurship
• Thinking new Ideas
• Dong new things
• Creating values in the market plae
9. 5. Entrepreneur Vs Manager
Entrepreneur Manager
Involve in the start up
process
Involve with running
the business
Assumes different risks Doesn’t have to bear
risks
Drive by perception of
opportunity
Drive by the source he
currently posses
Initiate change Follow rules and
procedures
He is his own boss He is a hired employee
Gets uncertain rewards Gets fixed rewards and
salary
10. 6. The entrepreneurial process
It is the process of pursuing a new venture,
/ new products into existing markets./
There are four phases:
1. Identification & evaluation of opportunity
2. Development of the business plan
3. Determination of the required resources
4. Managing of the resulting enterprise
11. Phase 1:
Identification & evaluation
of opportunity
a. Opportunity identification is the process
by which an entrepreneur comes up with
the opportunities for a new venture.
Sources of opportunity:
•Customers and business associates
•Member of the distribution system
•Technical people
12. Phase 1: . . .
B. opportunity evaluation: Identified
opportunities should be screened & evaluated.
It is the most critical element of the
entrepreneurial process. It involves:
• The length of the opportunities
• Real and Perceived value
• The risk and return
• Its fitness with personal skill & goal of the entre.
• Uniqueness/differential advantage/ in the env’t
13. Phase 1 . . .
Opportunity assessment plan: evaluating opp.
Similar to business plan but different in that
it focus on only opportunities not the entire
venture .
Deciding whether or not to act on the opport.
It includes:
• Description of the product/service
• Assessment of opportunities
• Assessment of the entrepreneur & the team
• Specification of all activities & resources needed
• The source of capital to finance the venture
14. Phase 2: developing BP
It is the general future direction of the
business.
It is written document describing all relevant
internal and external elements and strategies
for starting new venture.
It is one of the time consuming phase
In BP:
• Opportunity will be defined and exploited
• Resource required will be obtained & determined
• Help to manage the venture successfully
15. Phase 3: determining the
resource required
Focus on the variety and amount of resource
Identify and differentiate critical resources
from helpful resources
Determine resource required
Determine the existed resources
Identify the resource gap & possible supplier
Developing access to needed resources
Assessing the downside of insufficient or
inappropriate resources
16. Phase 4: managing the
resulting enterprise
All about implementing the BP
Examining the operational problems
• Implementing the management style and
structure
• Determining the key variables for success
Establishing controlling system
17. 7. Ethics and social
responsibility
Business ethics concerns itself with the
investigation of business practice in light of
human value.
Ethics refers to the ‘study of whatever is right
and good for humans
Ethics is the study exploring the general nature
of morals and the specific moral choices to
be made by the individual in his relation
with others.
18. Ethics . . .
entrepreneurs have been shown to be
particularly sensitive to examine pressure
and general social norms in the community,
as well as pressures from their competitors.
A central question in business ethics:
whose Benefit and at whose expense should
the firm be managed?
In addressing this question the entrepreneur
ensures that resources are deployed fairly
between the firm and its Stakeholders.