Concept of Entrepreneurship & Types of Entrepreneurship

1. Dr. M. Umamageswari
Assistant Professor (Agricultural Economics)
JSA College of Agriculture & Technology
(Affiliated to Tamil Nadu Agricultural University)
Ma. Podaiyur, Tittagudi Tk. ,
Cuddalore District – 606 108

2.  French word - ‘Entrepredre’ – to undertake
 Entreprenuer - who “undertake” the risk of
new enterprises
 An enterprise is created by an entrepreneur.
 The process of creation is called
“entrepreneurship”

3.  During 16th century – frenchmen were called as
Entrepreneur who organised and led millitory
expedition
 During18th Century Richard cantillon – used
entrepreneur to business

4.  Richard Canilton -‘bearer of risk and
uncertainty.
 Webster’s dictionary - organizes, manages
and assumes the risks of a business
enterprise
 Joseph Schumpeter – ‘an innovator’ who
carries out new combinations to initiate and
accelerate the process of economic
development
 Peter F. Drucker - who always searches for
change, responds to it and exploits it as an
opportunity

5.  J.B. Say –
“ An Entrepreneur is the economic agent who
unites all means of production, land of one, the
labour of another and the capital of yet another
and thus produces a product.
By selling the product in the market the pays
rent of land, wages to labour, interest on capital
and what remains is his profit”

6.  Entrepreneurship - interlinked dimensions of
individual psychological entrepreneurship,
entrepreneur traits, social encouragement,
business opportunities, Government policies,
availability of plenty of resources and
opportunities coverage towards the common
good, development of the society and economy.
 Entrepreneurship is the process of identifying
opportunities in the market place, arranging the
resources required to pursue these opportunities
and investing the resources to exploit the
opportunities for long term gains.
 It involves creating wealth by bringing together
resources in new ways to start and operate an
enterprise.

7. ENTREPRENEURS
Clarence
Danhof
Aggressive/
innovative
Imitative /
Adoptive
Fabian
Drone
Arthur
H.Cole
Emprical
Rational
Cognitive
On the basis
of
ownership
Sole
Partnership
Private
Public
Joint
On the basis
of scale of
enterprise
Small scale
Medium
scale
Large scale

9.  Walt Disney
 cartoonist and animator, he ended up
becoming the founder of one of the
largest mass media empires in the world.