2. `
Entrepreneur :
Individual who :
• Takes risks and start something new
• Developing something unique
• Initiative taking
• Organizing and reorganizing of social & economics
mechanisms to turn resources & situations to pratical
account
• Focus on vission, mission & goals
Entrepreneurship :
• Process of creating something new and assuminf
the risks & rewards
3. Entrepreneurial Process :
Pursuing a New Venture
1. New Products into existing markets
2. Existing Products into new markets
3. Creation of a new organization
Types of Entrepreneurship
1. Intrapreneurship
Focusing on internal resources
2. Ultrapreneurship :
Focusing on external resources, strategic alliances, &
benchmarking
3. Ecopreneurship
Focusing on social and nature environment
4. Sociopreneurship
5. Corporate Entrepreneurship
Establish an entrepreneural spirit in their organization
4. Role of Entrepreneurship in Economic Development :
1. Product Evolution
2. Itterative synthesis
3. Ordinary innovations
4. Technological innovations
5. Breakthrough innovations
Entrepreneur’s mind set :
1. Effectuate
2. Cognitive Adaptability
3. Learning from business failure
5. Traditional Management vs Entrepreneurial
Management
1. Strategic Orientation
2. Commitment to opportunities
3. Commitment and control to opportunities (RBV)
4. Management Structure and Reward Philosophy
5. Growth orientation
6. Entrepreneurial culture
7. Managing Diversity
