An introduction to entrepreneurship

1. Entrepreneurship Development
By: Ms. Sakshi Saxena
(Assistant Professor- IIMT)

2. According to George Bernard Shaw, people fall into
three categories:
(1) those who make things happen
(2) those who watch things happen, and
(3) those who are left to ask what did happen.
Generally, Entrepreneurs fall under the first category.

3. About
Entrepreneurship
• Entrepreneurship is a dynamic process of vision, change, and creation.
• It requires an application of energy and passion towards the creation and
implementation of new ideas and creative solutions.
• An entrepreneur is an aggressive catalyst for change in the world of
business.
• He or she is an independent thinker who dares to be different in a
background of common events thereby catering to the social and economic
upliftment.
• The prime focus of any entrepreneur is to capitalize the opportunities and
to build a strong ethical base.
• Entrepreneurial development is a pivotal issue that needs to be addressed
by any country to develop endowed entrepreneurs who can make a mark
in this world of competitions.

5. Who is an
Entrepreneur?
• An entrepreneur is an individual who creates a new business,
bearing most of the risks and enjoying most of the rewards.
• Entrepreneur is the person who brings together the factors of
production and combines them into a product.
• He organizes and manages a business unit assuming the risk for
profit.
• Examples of well-known entrepreneurs include Bill Gates, Steve
Jobs, Mark Zuckerberg, Pierre Omidyar, Arianna Huffington and
Caterina Fake.

6. Characteristics of an
Entrepreneur
• Hard work
• Business acumen (the ability to understand and judge things quickly and
clearly) and sincerity.
• Prudence (skill and good judgment in the use of resources)
• Self-reliance and independence
• Highly optimistic
• Keen foresight
• Planning and organizing ability
• Innovativeness
• Risk taking
• Secrecy maintenance
• Maintain public relations
• Communication skill