This document defines key terms and characteristics related to entrepreneurship. It discusses that an entrepreneur is someone who starts a business by taking on risk and uncertainty. The document outlines characteristics of successful entrepreneurs like passion for their business, customer focus, perseverance, and a tolerance for risk. It also provides examples of entrepreneurs like Bill Gates, Michael Dell, and Larry Ellison. The functions of an entrepreneur are identified as generating ideas, conducting market research, raising funds, recruiting employees, and taking on business operations and risk. Qualities like hard work, leadership, analytical skills, innovation, and self-confidence are described.

1. ENTREPRENEURSHIP
DEVELOPMENT
V.Madhusudhan Goud
Assistant Professor
Department of Management Studies
GPCET, Kurnool

2. Who is an entrepreneur?

3. French word “entre” means between and “prendre”
means to take.

4. What is an
entrepreneurship?

5. Process by which individuals
pursue opportunities without
regard to resources they currently
control

6. CHARACTERISTICS OF ENTREPRENEURS
 Passion for the business
Bill Gates----Microsoft
Michael Dell—Dell Computers
Larry Ellison--------Oracle
 Product /customer focus
 Tenacity despite failure

7.  Commitment & determination
 Leadership
 Opportunity obsession
 Tolerance of risk, ambiguity & uncertainty
 Creativity, self-reliance & ability to adapt
 Motivation to excel
 Hard work
 Desire for high achievement
 Highly optimistic
 Independence
 Foresight
 Good organizer
 Innovative

8. Entrepreneurs Year Problem Solution Name of
business
Rob Glaser 1995 No way to play
audio & video on
the internet
Developed
software to
play both on
“Net”
Real
Networks
Jerry Yang &
David Filo
1994 No method to find
favorite web site
Created
online
directories to
find & store
favorites
Yahoo
Anita Raddick 1976 Unable to find
small amounts of
cream or lotion
Started a
company
Body shop
Fred Smith 1973 A jet air craft sales
firm , inability to
get spare parts
delivered on a
timely basis
Started a new
company to
get packages
in a timely
manner
Federal
Express

9. FUNCTIONS OF AN ENTREPRENEUR
 Idea generation and scanning of the best suitable
idea
 Determination of the business objectives
 Product analysis and market research
 Determination of form of ownership/organization
 Completion of promotional formalities
 Raising necessary funds
 Procuring machine and materials
 Recruitment of team
 Undertaking the business operations
 Risk bearing
 Innovation

10. QUALITIES OF ENTREPRENEURS
 Moderate risk taking
 Hard work
 Accountability
 Educated in real sense
 Analytical mind
 Dynamic leadership
 Presence of mind
 Accommodative
 Courageous and tactful
 Maker of right decision
 Foresighted
 Right perception of things

11.  Enjoy simple life
 Strong desired to success
 Innovation
 Self confidence
 Goal setting
 Keen observation
 Sociable
 Loves to work
 Loves new ideas
 Team builder
 Clean understanding
 Ability to conceptualize
 Patience
 Strategist
 Optimist

12. ENTREPRENEURIAL COMPETENCIES
Competency:
Underlying characteristic of a person which leads to his
/her effective or superior performance in an job.
Components of Competency:
 Knowledge
 Skill
 Motive

13.  Initiative
 Looking for opportunities
 Persistence
 Information seeker
 Quality conscious
 Committed to work
 Efficiency seeker
 Proper planning
 Problem solver
 Self-confidence
 Assertive
 Persuasive
 Efficient monitor
 Employees well wisher
 Effective strategist

14. DEVELOPING COMPETENCIES
 Competency recognition
 Self Assessment
 Competency Application
 Feed back