Entrepreneurship - An Introduction
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This document provides an introduction to entrepreneurship and entrepreneurs. It defines an entrepreneur as a person who sets up businesses and takes on financial risks with the goal of making a profit. Entrepreneurship is described as seeking business opportunities by developing and managing business ventures. The roles of entrepreneurship include utilizing resources, capital formation, job creation, regional development, and more. Qualities of successful entrepreneurs include being hard-working, risk-taking, innovative, optimistic, and having foresight, motivation, and public relations skills. Functions of entrepreneurs are risk assumption, decision-making, management, and innovation. The document concludes by stating factors that motivate people to become entrepreneurs such as independence, family influence, education, and market opportunities
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Functions of an entrepreneur
An entrepreneur performs various functions from developing an idea to establishing and operating a successful business. They recognize commercial opportunities, formulate business policies for production, marketing, and organization. According to economists, an entrepreneur's functions include entrepreneurial, promotional, managerial, and commercial activities such as innovation, risk-taking, and organization building. Entrepreneurs conduct market research and analysis, acquire necessary resources, determine capital structure, and manage production, finance, marketing, personnel, accounting, and other business operations.
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The document discusses entrepreneurship and entrepreneurs. It defines an entrepreneur as an individual who takes risks to start something new. Entrepreneurship is the process of creating new ventures with value through time, effort, risk, and reward. The stages of the entrepreneurial process include opportunity analysis, developing a plan, acquiring funding, implementing resources, and scaling the venture. Entrepreneurs drive economic development through innovation, creativity, exploring new markets and technologies. Innovation and creativity are key functions of entrepreneurs. A business plan is an important tool to guide operations in the first year. It helps employees understand goals and performance expectations.
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Dr. M. Umamageswari outlines several key characteristics of successful entrepreneurs, including being risk-takers, imaginative, persistent, goal-setting, hardworking, self-confident, flexible, and independent. She also discusses important entrepreneurial skills like research skills, gathering and using information, management skills including planning, organizing, directing, and controlling, as well as relationship skills for staff, suppliers, and customers. The document provides examples of successful Indian entrepreneurs who demonstrated these characteristics and skills, such as Dr. Velumani who founded Thyrocare Technologies, Mahesh Gupta who started Kent RO Systems, and Kailash Katkar who founded Quick Heal Technologies.
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This document provides an overview of entrepreneurship development. It discusses the need and significance of entrepreneurship development in a global context. Entrepreneurship development programs aim to develop entrepreneurial qualities, motivate achievement, and enable participants to start their own businesses. The document outlines the typical objectives, content, and misconceptions of entrepreneurship development programs. It also discusses different target groups for these programs and the role of entrepreneurs in economic development, with the state playing an important supporting role.
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The document outlines the entrepreneurial process in 8 steps: 1) preparation as an entrepreneur through profiling and skills development, 2) starting the venture by evaluating business ideas and innovations, 3) developing a business plan covering products, marketing, and finances, 4) legally forming the business and establishing its culture, 5) obtaining financing from sources using various methods, 6) operational and implementation strategies, 7) managing growth, and 8) exiting the venture through going public or other harvesting strategies.
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The document outlines the 5 key stages in the entrepreneurial process:
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2) Concept Development - creating a business plan and choosing a location
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This document compares and contrasts entrepreneurs, managers, intrapreneurs, and entrepreneurship. An entrepreneur starts their own business and takes on financial risk, while a manager controls and administers an existing organization. An intrapreneur is an employee who uses entrepreneurial skills to benefit their organization. Entrepreneurship is the practice of starting new organizations in response to opportunities. The document outlines key differences such as entrepreneurs focusing on new startups while managers focus on ongoing operations, and entrepreneurs using their own resources while intrapreneurs use company resources.
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Dr. M. Umamageswari outlines several key characteristics of successful entrepreneurs, including being risk-takers, imaginative, persistent, goal-setting, hardworking, self-confident, flexible, and independent. She also discusses important entrepreneurial skills like research skills, gathering and using information, management skills including planning, organizing, directing, and controlling, as well as relationship skills for staff, suppliers, and customers. The document provides examples of successful Indian entrepreneurs who demonstrated these characteristics and skills, such as Dr. Velumani who founded Thyrocare Technologies, Mahesh Gupta who started Kent RO Systems, and Kailash Katkar who founded Quick Heal Technologies.
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The document outlines the entrepreneurial process in 8 steps: 1) preparation as an entrepreneur through profiling and skills development, 2) starting the venture by evaluating business ideas and innovations, 3) developing a business plan covering products, marketing, and finances, 4) legally forming the business and establishing its culture, 5) obtaining financing from sources using various methods, 6) operational and implementation strategies, 7) managing growth, and 8) exiting the venture through going public or other harvesting strategies.
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The document outlines the 5 key stages in the entrepreneurial process:
1) Discovery - generating business ideas and recognizing opportunities
2) Concept Development - creating a business plan and choosing a location
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Enterpreneurship. 01
1. The document defines entrepreneurship and discusses key concepts like the definition of an entrepreneur, characteristics of entrepreneurs, types of entrepreneurs, and factors that affect entrepreneurship growth.
2. It also covers topics like the need for entrepreneurship development programs, their objectives and structure, and challenges faced in implementing them.
3. The document concludes by discussing entrepreneurial skills, behaviors, attributes, and the differences between entrepreneurs and professional managers.
ENTREPRENEURSHIP AND SMALL BUSINESS MANAGEMENT
Entrepreneurship involves starting a business to produce goods and services, taking on financial and social risks and rewards. An entrepreneur recognizes opportunities, organizes resources, and takes initiative. Key aspects of entrepreneurship include innovation, risk-taking, identifying business opportunities, and mobilizing resources to capitalize on opportunities to create new products or services. Entrepreneurship results in new businesses being formed, greater organization of resources, wealth creation and new jobs.
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- An entrepreneur is an individual who takes risks and starts something new by identifying opportunities, gathering resources, and being responsible for an organization's performance.
- Entrepreneurship refers to the process of an entrepreneur establishing an enterprise through creative innovation in response to needs or problems.
- Common qualities of successful entrepreneurs include being visionary, willing to take risks, having leadership and management skills, and working hard.
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Entrepreneurs play a key role in economic progress by introducing new things and perceiving business opportunities. They have a strong desire to achieve goals and act continuously to make their dreams come true. Entrepreneurs prefer independence and are willing to take calculated risks. They believe they can control outcomes through their own efforts and environment. Entrepreneurs also have qualities like perseverance, finding opportunities, flexibility, leadership, decision making, self-confidence, and the ability to mobilize resources.
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Who is an entrepreneur? Is an entrepreneur born or made? What are his/her traits and skills? Personality test and entrepreneurship.
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The document discusses definitions and characteristics of entrepreneurs and entrepreneurship from various scholars and perspectives. It defines entrepreneurs as innovators who recognize opportunities, take risks to start new business ventures, and realize rewards. Successful entrepreneurs have qualities like initiative, willingness to take risks, ability to learn from mistakes, self-confidence, motivation towards hard work, and ability to make timely decisions. Entrepreneurship is the process undertaken by entrepreneurs to establish new enterprises through creative innovation.
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Entrepreneurs are Human Beings like us.
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The document discusses entrepreneurship and the characteristics of successful entrepreneurs. It defines entrepreneurship as taking initiative and risk to create new business ventures that solve problems. Successful entrepreneurs tend to be passionate, self-confident, goal-oriented, hard-working, and able to accept change. They have a strong drive to succeed, believe in themselves, and are always looking for new ideas and ways to improve.
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Dr Maponya was introduced to SENAI Institute during his business visit to Brazil, as a member of the delegation of the South African President, Hon. Jacob Zuma. He remained behind in Brazil, and was introduced to the SENAI Model.
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The document discusses entrepreneurial competencies and the factors that affect entrepreneurial growth. It defines entrepreneurial competency as the qualities and characteristics that allow an individual to successfully start and run a business. It identifies several major competencies including initiative, persistence, planning, problem-solving, and commitment. The document also outlines methods for developing competencies through competency identification, assessment, mapping gaps, and developing interventions. Additionally, it discusses factors that influence entrepreneurial growth such as economic access to capital and markets, as well as sociological factors like culture and social perceptions of entrepreneurship. Government policies and support are also highlighted as important determinants that can stimulate or hinder entrepreneurial growth.
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The document discusses the characteristics of entrepreneurs and entrepreneurship. It defines entrepreneurship as pursuing opportunities beyond one's current resources. Entrepreneurs perceive opportunities, believe success is possible, and are motivated to pursue opportunities. The document then outlines the different stages of starting a business from realizing the opportunity to consolidating resources to implementing and running a venture successfully. It also lists various entrepreneurial functions and skills such as selling, marketing, planning, risk-taking, and problem-solving.
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The document discusses personal entrepreneurial competencies and skills needed to be a successful entrepreneur. It identifies important characteristics like being hardworking, confident, disciplined, and committed. Additional skills discussed include being a good planner, having strong people skills, and being able to make sound decisions. The document also discusses the importance of analyzing the business environment and market conditions through a SWOT analysis. This involves identifying strengths, weaknesses, opportunities, and threats. Finally, it discusses the importance of understanding customers through empathy, identifying their desires, and discovering their genuine reasons for purchasing products or services.
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This document provides an introduction to entrepreneurs and entrepreneurship. It covers the meaning of entrepreneur, evolution of the concept, functions of entrepreneurs including innovation and risk taking. It discusses types of entrepreneurs like innovative vs imitative. It also defines intrapreneurs as employees who develop innovative ideas within a company. The stages of the entrepreneurial process are outlined including idea generation, opportunity evaluation, planning, launch, and growth. Methods of generating ideas and creative problem solving techniques are also summarized.
Workshop on entrepreneurship
An entrepreneur is defined as someone who sets up a business or enterprise and takes risks in order to achieve profits and growth. They identify opportunities and assemble resources to capitalize on them. Key characteristics of entrepreneurs include a desire for responsibility, risk-taking, confidence, and a future orientation. Entrepreneurship provides employment, distributes wealth more widely, stimulates innovation and economic development. Factors that support entrepreneurship include education, infrastructure, access to financing, and policies that promote and protect new businesses.
ENTREPRENUER & ENTREPRENURESHIP
The document defines entrepreneurship and discusses the various types of entrepreneurs. It also covers entrepreneurial competencies and qualities, factors influencing entrepreneurship, entrepreneurial development programs, and organizations providing entrepreneurship development programs. In summary:
1. Entrepreneurship involves recognizing business opportunities, managing risk, and using skills to organize resources to bring projects to fruition.
2. Entrepreneurs can be classified based on their functions, developmental angle, type of business, and personality types.
3. Factors like family tradition, culture, psychology, policies, and economic conditions influence entrepreneurship in a society.
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Entrepreneurship - An Introduction
- 1. ENTREPRENEURSHIP -An Introduction Dr. C.Rajalakshumi MBA., PGDCA, M.Phil., Ph.D., Assistant Professor, VVV College, Virudhunagar. ALLPPT.com _ Free PowerPoint Templates, Diagrams and Charts
- 3. • a person who sets up a business or businesses, taking on financial risks in the hope of profit. – The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, s ervices, and business/or procedures. – Being entrepreneurial can mean knowing your industry inside out, and being able to e xploit that knowledge to create new opportunities. Who is an Entrepreneur..
- 4. What is ENTREPRENEURSHIP •the activity of setting up a business or businesses, taking on fina ncial risks in the hope of profit. •is an act of seeking investment and production opportunity, devel oping and managing a business venture
- 5. Role of Entrepreneurship 1. Optimum utilization of natural and human resources 2. Helpful in Capital Formation 3. Generation of employment 4. Balanced Regional Development 5. Improvement in living standard 6. Creativity and Innovation 7. Economic Independence 8. Establishing new venture
- 6. Qualities of an Entrepreneur • Hard-Working. •Risk-Taking. •Innovativeness •Highly Optimistic •Keen foresight •Achievement Motivation •Competitiveness •Prudence •Team work •Planning and organizing ability •Good public relation
- 7. Functions of an Entrepreneur 1. Risk assumption Function An Entrepreneur must act as a ‘risk bearing’ agent of production. Must undertake and face uncertainties. 2. Decision making function Take decisions in at various stages Decide the nature and type of goods to be produced 3. Managerial Function It is a function of coordination, organization and supervision. All managerial functions from planning to controll 4. Function of innovation A never ending and on going process to be carried out. Innovation is the main lead to success.
- 8. TO BE A SUCCESSFUL ENTREPRENEUR - BE DIFFERENT - BE UNIQUE
- 9. Factors Motivating to become an Entrepreneur INTERNAL FACTORS EXTERNAL FACTORS Desire to do something new Government assistance and support Become independent Availability of labor and raw material Achieve what one wants to have in life Encouragement from family / family business Educational Background Promising demand for the product Experience in relevant field Market opportunity
- 10. THANK YOU