An entrepreneur is defined as someone who converts new ideas into successful innovations by seeing opportunities and taking advantage of them despite uncertainty. Successful entrepreneurs exhibit creativity, innovation, risk-taking, self-motivation, vision, and problem-solving skills. They generate ideas, promote their business, bear risks, arrange financing, hire staff, and manage crises. The entrepreneurial process involves deciding to become an entrepreneur, identifying opportunities, developing a business plan, determining required resources, and managing and growing the enterprise. Barriers to entrepreneurship include a lack of capital, labor, materials as well as social norms and lack of sustained motivation, vision, and clear ideas.

1. Entrepreneurship
Development

2. Concept of Entrepreneurship
• An entrepreneur is a person who is willing and able to convert a new
idea or invention into a successful innovation.
• Entrepreneurs are the people who have the ability to see and
evaluate business opportunities together with the necessary
resources to take advantages of them and to initiate appropriate
action to ensure success.
• Entrepreneurship is doing things in a better way and decision making
under the conditions of uncertainty.
• Entrepreneurship is the process of designing, launching and running a
new business.

3. Characteristics of Successful
Entrepreneur
• Creativity
• Innovation
• Dynamism
• Risk taking and Decision making ability
• Self motivation
• Self confidence
• Time management
• Persistence
• Visionary and leadership skills
• Problem solving ability

4. Functions of an Entrepreneur
• Idea generation
• Promotion
• Risk bearing
• Arranging finance
• Staffing
• Crisis management

5. Types of Entrepreneurs

6. Factors Influencing Entrepreneurs

7. Difference between Entrepreneur and
Manager

8. Entrepreneurial process
• Step 1: Deciding to become entrepreneur
• Step 2: Identifying and evaluating the opportunity
• Step 3: Developing a Business plan
• Step 4: Determining the required resources
• Step 5: Converting the idea to an enterprise
• Step 6: Managing and Growing the enterprise

9. Entrepreneurial Barriers
* Economic Barriers:
(a)Capital
(b)Labor
(c)Raw materials
* Non-Economic Barriers:
Social Barriers: Social norms, Practical values, Emotional Blocks
Personal Barriers: Lack of Sustained motivation, Unclear ideas, Lack of
Vision, Lack of clear perception.

10. Thank You
Presented by
Dr. Anju Tripathi