Entrepreneurship

1. [Group -1]

2. Definition- meaning
The concept of ‘new combinations’ :
• introduction of a new good,
• a new method of production,
• a new market,
• a new source of supply of raw-materials,
• a new organization of any industry.
Entrepreneurship is the process of identifying and starting a new
business venture and sourcing and organizing the required
resources while taking both the risks and rewards associated with
the venture.

3. What ENTREPRENEUR(s)
does??
Determines the supply of financial capital, innovation, allocation of
resources among alternative uses.
Entrepreneurs identify opportunities
Assemble required resources, implement a practical action plan, and
harvest the reward in a timely, flexible way.
Forecasted future
Creation of a previously-unperceived idea
Opportunity for profit and the alertness to that previously untapped
opportunity
Attempt to calculate economic problems

5. Functions of an Entrepreneur
Risk-bearing
function :-
Assumes risks
• Not insurable &
incalculable.
Organizational
function :-
• Coordination,
Organization
and
Supervision.
Innovative
function :-
• New products ideas
and information.
• Foresees the
potentially
profitable
opportunity.
Managerial function :–
• Planning, organizing, co-
ordinating, staffing, directing,
motivating and controlling.
• Production plans, product
analysis and market
research, organization of
sales procuring machine and
material, recruitment of men.
Decision making
function:-
• Determines financial
resources for the
organization.
• Market for his product,
develops new product or
modify the existing
product.

6. Factors affecting entrepreneur’s
performance

7. SCALES (MBTI)
The Myers-Briggs Type Inventory) (MBTI is a instrument based
on Carl Jung's personality theory that individual behavior is
due to individual differences in perception and judgement.
The MBTI is based on four bipolar subscales. Extroversion-
Introversion, Sensing-Intuition, Thinking-Feeling and
Judging-Perceiving.
The MBTI is widely used in organizations in both employee
selection and personnel development and also in academic
research. Based on Jung's theory, the MBTI identifies an
individual's preference on each of the four dimensions. One
pole of each dimension is preferred over the other, and each
dimension is independent of the others. A classification for
each of the four dimensions results in sixteen possible types.

8. SCALES (MBTI)
Extroversion-
Introversion
(E-I)
interacting
Extraverts
Introverts(conce
pts and ideas).
Sensing-
Intuition (S-
N). A sensing
orientation
focuses on the
moment and
the information
coming
through the
five senses..
Thinking-
Feeling (T-F) A
thinking
orientation
indicates
inferences
based on logic
and analysis.
Inferences
based on
values and
feelings of
others.
Judging-
Perceiving (J-
P) A judging
orientation
indicates a
desire for
planning, order,
and structure. A
perceiving
orientation
indicates
flexibility and a
sensitivity to
new
information.

10. Trade Related Entrepreneurship
Assistance and Development
(TREAD)
Trade Related Entrepreneurship Assistance and Development (TREAD)
 Improving the Socio-economicconditionsof women.
 Educatedand resourceful women on entrepreneurship development.
OBJECTIVES
 Counseling and training,delivery ofcredit poses the most serious problem for the poor women
 Poor women are to be economically empowered, appropriate programmes and schemes are to
be designedso as to assist them in all respects.
SALIENT FEATURES OF THE REVISED TREAD SCHEME FOR EMPOWERMENT
OF WOMEN
A. Credit: Government Grant up to 30% of the total project costas appraised bylending
institutions which would finance the remaining 70% as loan assistance to applicant women,
usually illiterate/semi-literate women to provide adequate security demanded bybanks in the
form of collaterals. B. Training & Counseling of the women

11. Thus Entrepreneurship is the art of generating innovative ideas
that, if properly funded, generates profit. The profit could be
from the sales of various products or services that were
created by the idea. And further the yield can be used for
Socio-Economic development.