Entrepreneurship is the process of creating and managing a new business while assuming financial risks to generate profit, characterized by innovation, leadership, and the ability to take risks. It encompasses various aspects, including the search for profitable opportunities, the creation of wealth, and the transformation of resources into useful goods and services. Entrepreneurs play a crucial role in economic growth by establishing new enterprises, and are categorized into types such as innovators, imitators, financiers, and researchers.

1. WHAT IS
ENTREPRENEURSHIP?

2. INTRODUCTION
Essentially, entrepreneurship is the
process of developing, organizing, and
running a new business to generate
profit while taking on financial risk.

3. CONCEPT
O F
E N T R E P R E N E U R S H I P

4. Concept of Entrepreneurshio
Entrepreneurship is an innovative function.
It is a leadership rather than a ownership.
The process of innovation may be in the
form of
> Introduction of New Project
> Use of a New Method of production
> Opening of a New Market
> The conquest of New Source of supply
Raw Material

5. Traditional
Concept
Modern
Concept
⬇️
Ability and aptitude to bear
various types of business
related risk and facing of
uncertainties
⬇️
The ability to establish new
enterprise, and carrying out
new various improvements in
the enterprise.

6. Risk Bearing Capacity
> Risk refers to the variability of outcomes (or
returns).
> Entrepreneurs are "risk-taker"- people who
don't fear anything in business.
> Entrepreneurship involve taking of risks and
making the necessary investments under
conditions of uncertainty.

7. Organization Building
Ability
▸ Entrepreneurship is ability to connect and
coordinate the productive resources to organize
a venture and enterprise.
▸ It is bringing together the factors of production
and to organize them.
▸ Entrepreneur makes decisions about resource
allocations.

8. Managerial and Leadership
Skills
▸ Entrepreneurship is the process of bringing together
creative and innovative ideas and actions with the
management & leadership skills to mobilize the
appropriate people, money and operating resources to
create wealth in the process.
▸ Entrepreneurs can translate their ideas into action with
management and leadership skills.

9. Innovative Function
▸ Innovative is specific function of
entrepreneurship.
▸ It is the means by which the entrepreneur
either create new wealth- producing resources
or endows existing resources with enhanced
potential for creating wealth.

10. Anna Katrina Marchesi
www.reallygreatsite.com
1115
HIGH LEVEL NEED FOR
ACHIEVEMENT
FOLLOWERS PRODUCT DESIGN
▸ THE PERSON WHO ARE MOTIVATED WITH THE NEED FOR
HIGH ACHIEVEMENT HAVE A HIGH LEVEL OF
ENTREPRENEURIAL ACTIVITIES.
▸ THEY HAVE A DESIRE TO BE SUCCESSFUL IN COMPETITIVE
SITUATIONS.

11. S E A R C H F O R
P R O F I T A B L E
O P P O R T U N I T I E S
Entrepreneurship is actively
searching for opportunities to do
new things or to do existing
things in new ways for a
profitable business.
Potential entrepreneurs are
always looking for unique
opportunities to fill needs and
wants.

12. Wealth
Creation
▸ Entrepreneurs are economic agents who
transform demand into supply and they transform
resources into useful goods & services, that lead to
creation of wealth and industrial growth.

13. Change Agent
"This is modern concept of
Entrepreneurship. The entrepreneur
becomes the change agent who
transforms the resources into useful
goods and services, often creating the
circumstances that lead to industrial
growth."

14. Process of
Creating New
Values
▸ It is also a modern concept.
▸ Through Entrepreneurship new products,
services, transactions, approach , resources
technologies and markets are created that
contribute some value to the community or
marketplace.
▸ Values can be created when resources are
transformed into output such as products and
services.

15. Subject or Discipline
▸ Entrepreneurship education is a fast
growing area in Colleges & Universities.
▸ Most universities in the countries did
research on entrepreneurship, followed
by training courses.
▸ Due to fully developed subject, many
entrepreneurial schools have been
opened.

16. Entrepreneurship may be classified in
▸ Establishment of new enterprises based
▸ Function based
▸ Combination based
▸ Decision making based ▸ Innovation based
Annotation

17. ESTABLISHMENT OF NEW
ENTERPRISES BASED
▸ According to Prof. Musselman & Jackson,
"entrepreneurship is the inventing and
risking of time, money and effort to start a
business.
▸ According to Prof. Udai Pareek And
Manohar Nadkarni, "Entrepreneurship
refers to the general trend of setting
up new enterprises in a society."

18. FUNCTION
BASED
▸ According to Joseph A.
Schumpeter,
"Entrepreneurship is an innovative
function, it is an leadership rather
than an ownership."
▸ It reveals various opportunities and
abilities like forecasting of economic
opportunities and ability to organize
various sources and techniques of
production.

19. COMBINATION
BASED
▸ Many scholars elaborate
entrepreneurship as the combination of
functions and activities, and organization.
▸ According to H. W. Johnson,
"Entrepreneurship is a composite of three
basic elements- inventions, innovation and
adaptions.

20. DECISION
MAKING BASED
▸ According to Lamb, "
Entrepreneurship is that form of
social decision making performed
by economic innovations."
▸ This definition focus on social
responsibilities and role of business.

21. InnovationBased
▸ According "Entrepreneurship can be
described as creative and innovative
response to the environment."
▸ Entrepreneurship is an activity of linking
the business with the society and
environment.

22. COMPONENTS OR
ELEMENTS OF
ENTREPRENEURSHIP

23. THE FIRST ELEMENT OF
ENTREPRENEURSHIP IS AN
"ENTREPRENEUR"

24. Try to give answers to the
following questions.
~Who is entrepreneur?
~Which are the types of entrepreneur?

25. Entrepreneur
Entrepreneur is an individual who
creates a new business, bearing most
of the risks and enjoying most of the
rewards.

26. T Y P E S O F
E N T R E P R E N E U R
Innovative
These entrepreneurs have the ability to think newer, better
and more economical ideas of business organisation and
management.
Imitator
Imitation is the sincerest form of flattery. And that’s
certainly the case with these types of entrepreneurs.
Imitators take what is already working, make it more
appealing (through innovation or iteration), and build a
product or service around it.
Financier
Financiers are the money behind the success. They often
come from a wealthy family but have parlayed that wealth
into multiple lucrative ventures
Researcher
Researchers like viability. Yes, they’re keen on original ideas
as well, but they much prefer practicability over innovation.

27. Characteristics of
an Entrepreneur
INNOVATION
MANAGERIAL SKILLS AND LEADERSHIP
CREATIVE DECISIONS
MANAGING RESOURCES
BUSINESS ORIENTED TENDENCY
ECONOMY ACTIVITY

28. Question
What is the concept
of an Entrepreneur?

29. It refers to a Person and Creator.
01
It refers to an Initiator and Leader
03
It refers to a Organizer and Decision Maker.
02
It refers to Motivator and Risk Taker.
04
Concepts of an Entrepreneur

30. WHAT IS DIFFERENCE
BETWEEN WAGE
EMPLOYMENT AND
ENTREPRENEURSHIP?
Full Name

31. Wage Employment
VS
▸ Work for others
▸ follow instructions
routine job.
▸ Earning is fixed never
negative.
▸ Doesn't create wealth.
▸ Can choose from
Government Services,
Public Sectors or Private
Sectors
Wage Employment
▸ Own Boss
▸ Make own plans.
▸ Creative activity can be
negative sometimes.
▸ Creates wealth and
contributes to GDP
▸ Can choose from
Industry, Trade or Service
enterprises

32. IMPORTANCE OF AN ENTREPRENEUR
W H A T I S T H E
I M P O R T A N C E O F A N
E N T R E P R E N E U R ?

33. Importance of an
Entrepreneur
reduce poverty level
increase employment
Fulfill the demands of people
helps to develop the economy of
country

34. Causes of failure
of the
Entrepreneurship

35. Causes of failure of the
Entrepreneurship
Lack of Visible Concept
Lack of Market Knowledge
Lack of Technical Skills
Lack of Seed Capital
Lack of Business Knowledge
Lack of Motivation
Time Pressure & Distractions
Legal Constraints & Regulations
Monopoly & Protectionism

36. SOME OF THE REAL
SOME OF THE REAL
SOME OF THE REAL
ENTREPRENEURS
ENTREPRENEURS
ENTREPRENEURS

37. Tony Tan Caktiong
JOLLIBEE FOODS
Socorro Ramos
NATIONAL BANK STORE
Henry Sy
SHOE MART
Real Entrepreneurs

38. Mariano Que
MERCURY DRUG
Edgar Sia
MANG INASAL
Cecilio Kwok Pedro
LAMOIYAN CORPORATION
Real Entrepreneurs

39. Help in bringing changes in Social Framework
Contribution in the formation of Industrial Climate
Contribution to generateemploymentopportunities
Contribution to raise the Standard of Living
Help in removing Regional Disparities
Encouragement to Investigation & Research
Role and Importance of Entrepreneurship