The document discusses the concept and history of entrepreneurship. It notes that the term "entrepreneur" was coined in 1800 by J.B. Say to refer to those who undertake new business ventures and assume the risk. Throughout history the term has been used to describe various types of business founders, innovators, and risk-takers. The document also examines different views and types of entrepreneurs, their functions and role in economic development, and defines entrepreneurship as the activities involved in starting and operating a new business.

1. ENTREPRENEURSHIP
Dr. Gopal Thapa
Tribhuvan University
Email: thapazee@gmail.com

2. Entrepreneur
 The term Entrepreneur is coined by J. B. Say in
1800 AD (Peter Drucker)
 The term Entrepreneur had originated from French
word ‘Entreprendre’ which denotes ‘undertakers,
i.e. the persons who take risks in new enterprises
(Those entrepreneurs were contractors who
undertook the risks of profit and loss.

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3. Entrepreneur
 In 14th
century the term entrepreneur referred to
tax contractors.
 In 16th
century the term ‘entrepreneur’ was used to
denotes the soldiers involved in adventurous
travels
 In 17th
century the term ‘entrepreneur’ started to
use in civil engineering activities such as
construction and erecting forts.
 Since the beginning of 18th
century the term
entrepreneurship started to use in economic
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4. Entrepreneur
 They are business founder and ultimate owner of
business
 They are change agents
 They transform the resources to useful products.
 They are captain of industry, risk takers, decision
makers, loss bearers, collectors and managers of
resources
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5. Entrepreneur
 They are innovators
 They are force of creative destruction
 Established way of doing things were destructed
through the creation of new and best ways of
doing business.
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6. Entrepreneur: Factor of production
 Special type of factor of production
 Organizes all other factors of production
 Not hirable like other factors of production
 Independent factor of production
 Human beings with special factors of production
 It is active factor of production
 Reward for others is always positive
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7. Entrepreneur
 US view: Entrepreneur is defined as one who
starts his own, new and small business
 German view: The person who owns and runs a
business
 FB Hawley: Entrepreneur is risk taker
 FH Knight: Entrepreneur is one who bears
uncertainty.
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8. Entrepreneur
 The entrepreneur is one who actually searches for
change, responds to it and exploits change as an
opportunity .---- Peter Drucker
 The entrepreneur is one who creates a new
business in the face of risk and uncertainty for the
purpose of achieving profit and growth by
identifying opportunities and assembling the
necessary resources to capitalize those
opportunities. ----- Normo M. Scarborough &
Thomas W. Zimmerer
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9. Features of Entrepreneur
 Achievement oriented
 Hard working
 Desire for responsibility
 Optimistic
 Independence
 Foresighted
 Risk taker
 Innovative
 Flexible
 Good leader and manager
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10. Types of Entrepreneur (view of Clarence
Danholf)
 Innovating Entrepreneurs (make innovation)
 Imitative Entrepreneurs (imitate innovation)
 Fabian Entrepreneurs (Imitate only for survival)
 Drone Entrepreneurs (Refuse to change)
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11. Types of Entrepreneur (Behavioral view)
 Solo Operators (work alone)
 Active Partners (Joint venture)
 Inventors ( Product innovation)
 Challengers (Always ready for challenges)
 Buyers (Buy the existing business)
 Life timers (Family enterprises)
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12. Types of Entrepreneur (Focus group based:
Scarborough and Zimmerer)
 Women Entrepreneurs
 Minority Entrepreneurs
 Immigrant Entrepreneurs
 Part-time Entrepreneurs
 Home-based Entrepreneurs
 Family Business Entrepreneurs
 Corpreneurs (Couples)
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13. Functions of Entrepreneurs
 Planning
• Setting goal
• Developing business plan
 Organizing
• Grouping of tasks
• Coordination
 Mobilizing resources
• Financial resources
• Human resources
• Technical resources
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14. Functions of Entrepreneurs
 Relationship management
• Exchange relationship
• Professional relationship
• Government relationship
• Social relationship
 Control
• Financial control
• Production control
• Management control
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15. Entrepreneurship
 The functions performed by Entrepreneurs are
known as entrepreneurship.
 Entrepreneurship is to be an entrepreneur.
 Entrepreneurship is a system of creating new
business.
 Entrepreneurship refers to various activities done
for the establishment and operation of an
enterprises.
 If is related to coordination, innovation and
performance of the entrepreneur.
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16. Entrepreneurship
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Entrepreneur Entrepreneurship
Person
Organizer
Innovator
Risk taker
Motivator
Creator
Visualizer
Leader
Imitator
Decision maker
Process
Organization
Innovation
Risk taking
Motivation
Creation
Vision
Leadership
Imitation
Decision making

17. Role of Entrepreneurship (in Economic
Development)
 Capital formation
 Optimum utilization of resources
 Employment opportunities
 Balanced regional development
 Reduce concentration of economic power
 Promote foreign trade
 Indrustrilization
 Fostering competitiveness
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18. ?????
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