Download to read offline
ELP.pptx
- 1. Introduction Of Entrepreneur AndEntrepreneurship Presenter name : Darshan H R
- 2.
- 3.
- 4.
- 5.
- 6. 1.Assumption of Risk:The entrepreneur assumes all possible risks of business which emerges due to the possibility of changes in the tastes of consumers, techniques of production and new inventions. Such risks are not insurable. If they materialize, entrepreneur has to bear the loss himself. Thus, risk-bearing or uncertainty-bearing remains the most important function of an entrepreneur which he tries to reduce by his initiative, skill and good judgment. 2. Business Decisions: The entrepreneur has to decide the nature and type of goods to be produced. He enters the particular industry which offers him the bet prospects and produces whatever commodities he thinks will pay him the most and employs those methods of production which seem to him the most profitable. He effects suitable changes in the size of the business, its location, techniques of production and does everything that is needed for the development of his business 3. Managerial Functions: The entrepreneur performs the managerial function. Though they are different from entrepreneurial functions. He formulates production plans, sees to the finance, deals with purchase of raw materials, provides production facilities, organizes sales including management. In a large establishment, the management functions are delegated to the paid managerial personnel.
- 7.
- 8. Creativity Example Uber concept ofride sharing
- 9. Role of Creativity mindset and skill set of an investor . Entrepreneurship and creativity from a perfect combination. It no longer takes number-crunching skills and practicality to run a successful business 1.SUCCESS HIGH OVERALL Entrepreneurs are beginning to realize the importance of bringing creative people on board. Creative workers can be a game changer in your company if you harness and shape their skills adequately.
- 10. 2.Increase productivity Entrepreneurs areproviding the necessary technological resources such as visual collaboration, which is often confused with video conferencing to help their workers discover innovative solutions and ideas. 3.Exploit employee potential Tapping all these opportunities can result in improved financial strategies , increased profitability, and quick decision making. Creativity also enables an enterprise to stay ahead of the curve. 4. Transcend boundaries Creativity enables entrepreneurs to find some of the path-breaking discoveries . It is a easier for an entrepreneur to get new perspectives towards solving a financial or operational problems.
- 11. 5.Encourage critical thinking Creativityslowly turning out to we one of the best ways to alleviate problems plaguing today’s enterprise. 6. Foster innovation Manufacturers create unique products to not only meet customer expectations but exceed them as well .
- 12.
- 13. INNOVATION PROCESS Understand problem Collectinformation, clearly and identify the problem Finding new ideas Thinking about solution and finding some new ideas. Action and Implement Take action and implementation the solution.
- 14.
- 18. STEPS IN THE ENTREPRENEURIALPROCESS
- 19. DISCOVERY The stage inwhich the entrepreneur generates ideas, recognizes opportunities, and studies market. Idea Innovation Opportunity
- 21. CONCEPT DEVELOPMENT Develop abusiness plan : a detailed Personal describing the business idea. 1. Choose business location. 2. Will a patent or trademarks Be required ? Objective Mission statement Executive summary
- 22. RESOURCING The stage inwhich the entrepreneur identifies and acquire the financial, human ,and capital resources needed for the venture startup ,etc. Start-up resources
- 24. ACTUALIZATION The stage inwhich the entrepreneur operates the business and utilizes resources to achieve its goals and objectives. $$ Grand Opening $$ Day –to – day operation
- 25. HARVESTING The stage inwhich the entrepreneur decided on business future growth or development, or demise What is year 5- year or 10 year plan? Consider adding locations or providing different products/ services. Will you go public?
- 26.
- 27.
- 28. Definition of entrepreneur “Entrepreneurare those people who have the ability to see and evaluate business opportunities, together with the necessary resources to take advantages of them and to initiate appropriate action to ensure success”. -Acc to labour organization (ILO). “An entrepreneur is someone who exercises some control over the means of production and produces more than what he can consume in order to sell (or exchange) it for individual (or household) income”. -Acc to McClelland.
- 29. meaning and definitionBusiness model • Business model is a framework for how a company will create value. Ultimately, it distills the potential of a business down to its essence. A business model answers fundamental questions about the problem you are going to solve, and the growth opportunity within with in a given market. • “A business model is a national or symbolic representation of a characteristic of a firm’s strategy. It summarizes the necessary specifications required by a firm to successfully furnish value to the customers”. - Magretta.
- 33.
- 34. Building of businessmodel Busines s model Core values service Cost and revenue manage ment Marketing and target customer Compet itors
- 35. Complications related tothe firm’s Technical input Business model Economic outputs
- 36. Starting small scaleindustry
- 37. Properties of smallscale industries Small scale industries ownership gestation Area of operation technology resources flexibility
- 38.
- 39.