Entrepreneurship development
Entrepreneurship development
Next
End
Entrepreneur
Entrepreneur
An entrepreneur is defined as “person in effective
control of commercial undertaking; one who
undertakes a business or an enterprise”.
Entrepreneur is an innovative person who
maximizes his profits by following new strategies or
venturing into new products or services.
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End
Entrepreneurship is the act of being an entrepreneur, who starts
any economic activity for being self-employed.
Entrepreneurship is the “process of the entrepreneur”. It is an
attempt to create value through recognition of business
opportunity. It is basically communicative and management
functions to mobilize financial and material resources.
The entrepreneurial activity is governed by varying combination of
socio-economic, psychological, cultural and other factors:
Caste/religion, Family background, Level of education, Level of
perception, Occupational background, Migratory character, Entry
into entrepreneurship, Nature of enterprise, Investment capacity
and Ambition/moderation.
Entrepreneurship
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Economic Development Defined
Economic Development Defined
“Fostering a dynamic environment where
economic opportunities can be discovered, taken
advantage of and maximized to their fullest extent
to create balanced and sustainable economic
growth, jobs, a positive sense of ‘place’ and an
improved quality of life in a defined geographic
region.”
Entrepreneurship Based Economic
Entrepreneurship Based Economic
Development Defined
Development Defined
The systematic support of the creation and growth of
small businesses to achieve economic development
objectives in a defined geographic region.
The Five C’s of the
The Five C’s of the
Entrepreneurship Ecosystem
Entrepreneurship Ecosystem
These must be
coordinated and
grown through a
systematic
collaborative
system of
providers.
Thinking About Our Future
Thinking About Our Future
The Diffusion of Innovation
The Chasm!
Who is a Entrepreneur............
Who is a Entrepreneur............
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9
Entrepreneurial Characteristics
Entrepreneurial Characteristics
Being an entrepreneur requires specific characteristics and
skills that are often achieved through education, hard work, and
planning.
Risk Taker
Businesses face risk. Entrepreneurs minimize risk through
research, planning, and skill development.
Perceptive
Entrepreneurs view problems as opportunities and challenges.
Curious
Entrepreneurs like to know how things work. They take the time
and initiative to pursue the unknown.
Entrepreneurship development
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10
Imaginative
Entrepreneurs are creative. They imagine solutions to problems that
encourage them to create new products and generate ideas.
Persistent
True entrepreneurs face bureaucracy, make mistakes, receive
criticism, and deal with money, family, or stress problems. But they
still stick to their dreams of seeing the venture succeed.
Goal-setting
Entrepreneurs are motivated by the excitement of staring a new
business. Once achieved, they seek out new goals or ventures to
try.
Hardworking
Entrepreneurs need a great deal of energy to see a venture start
and succeed. Yet they are not deterred by the long hours to achieve
their goal.
Entrepreneurial Characteristics
Entrepreneurial Characteristics
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11
Self-confident
Entrepreneurs believe in themselves. Their self-confidence takes
care of any doubts they may have.
Flexible
Entrepreneurs must be flexible in order to adapt to changing
trends, markets, technologies, rules, and economic environments.
Independent
An entrepreneur’s desire for control and the ability to make
decisions often makes it difficult for them to work in a controlled
environment.
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Entrepreneurial Characteristics
Entrepreneurial Characteristics
 Increases national production
 Balanced area development
 Dispersal of economic power
 Reinvestment of profit for the welfare of the area of profit
generation
 Development is a function of motivation and human resource
 Entrepreneurial awareness
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Need for entrepreneurship
Next
Entrepreneurial Opportunities in Agriculture:
Entrepreneurial Opportunities in Agriculture:
 Diversification:
 Organic farming:
 Food preservation, processing and packaging:
 Production of agro-inputs
 Floriculture
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Let Us Sum Up
Let Us Sum Up
 Entrepreneur is one who identifies and sensitizes the opportunities, innovate
the ideas, raises money, assembles inputs and set and mange the organization
 The introduction of entrepreneurship in agriculture requires development of
certain qualities and skills like positive self concept, moderate risk taker,
planning, innovative, information and opportunity seeking, etc. in an
entrepreneur.
 Important entrepreneurship development opportunities in agriculture are
diversification in agriculture, income from venture technologies, food
preservation, processing and value addition, production of agro-inputs. The
entrepreneurial qualities and skills can be developed through vocational
education programmes and training.
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Thinking About Our Future
Thinking About Our Future
Five Stages In The Decision Innovation
Process
Thinking About Our Future
Thinking About Our Future
The Solutions?
1.We must unify as institutions
2.Collaborate deeply both vertically and horizontally
3.Developing clearly defined systems must be a priority
4.Reframing our message into the economic development
space is essential
5.Be at the economic development tables and share our
voice.

Introduction to entrepreneurship development

  • 1.
  • 2.
    Entrepreneur Entrepreneur An entrepreneur isdefined as “person in effective control of commercial undertaking; one who undertakes a business or an enterprise”. Entrepreneur is an innovative person who maximizes his profits by following new strategies or venturing into new products or services. Previous Next End
  • 3.
    Entrepreneurship is theact of being an entrepreneur, who starts any economic activity for being self-employed. Entrepreneurship is the “process of the entrepreneur”. It is an attempt to create value through recognition of business opportunity. It is basically communicative and management functions to mobilize financial and material resources. The entrepreneurial activity is governed by varying combination of socio-economic, psychological, cultural and other factors: Caste/religion, Family background, Level of education, Level of perception, Occupational background, Migratory character, Entry into entrepreneurship, Nature of enterprise, Investment capacity and Ambition/moderation. Entrepreneurship Previous Next End
  • 4.
    Economic Development Defined EconomicDevelopment Defined “Fostering a dynamic environment where economic opportunities can be discovered, taken advantage of and maximized to their fullest extent to create balanced and sustainable economic growth, jobs, a positive sense of ‘place’ and an improved quality of life in a defined geographic region.”
  • 5.
    Entrepreneurship Based Economic EntrepreneurshipBased Economic Development Defined Development Defined The systematic support of the creation and growth of small businesses to achieve economic development objectives in a defined geographic region.
  • 6.
    The Five C’sof the The Five C’s of the Entrepreneurship Ecosystem Entrepreneurship Ecosystem These must be coordinated and grown through a systematic collaborative system of providers.
  • 7.
    Thinking About OurFuture Thinking About Our Future The Diffusion of Innovation The Chasm!
  • 8.
    Who is aEntrepreneur............ Who is a Entrepreneur............ Previous Next End
  • 9.
    9 Entrepreneurial Characteristics Entrepreneurial Characteristics Beingan entrepreneur requires specific characteristics and skills that are often achieved through education, hard work, and planning. Risk Taker Businesses face risk. Entrepreneurs minimize risk through research, planning, and skill development. Perceptive Entrepreneurs view problems as opportunities and challenges. Curious Entrepreneurs like to know how things work. They take the time and initiative to pursue the unknown. Entrepreneurship development Previous Next End
  • 10.
    10 Imaginative Entrepreneurs are creative.They imagine solutions to problems that encourage them to create new products and generate ideas. Persistent True entrepreneurs face bureaucracy, make mistakes, receive criticism, and deal with money, family, or stress problems. But they still stick to their dreams of seeing the venture succeed. Goal-setting Entrepreneurs are motivated by the excitement of staring a new business. Once achieved, they seek out new goals or ventures to try. Hardworking Entrepreneurs need a great deal of energy to see a venture start and succeed. Yet they are not deterred by the long hours to achieve their goal. Entrepreneurial Characteristics Entrepreneurial Characteristics Previous Next End
  • 11.
    11 Self-confident Entrepreneurs believe inthemselves. Their self-confidence takes care of any doubts they may have. Flexible Entrepreneurs must be flexible in order to adapt to changing trends, markets, technologies, rules, and economic environments. Independent An entrepreneur’s desire for control and the ability to make decisions often makes it difficult for them to work in a controlled environment. Previous Next End Entrepreneurial Characteristics Entrepreneurial Characteristics
  • 12.
     Increases nationalproduction  Balanced area development  Dispersal of economic power  Reinvestment of profit for the welfare of the area of profit generation  Development is a function of motivation and human resource  Entrepreneurial awareness Previous End Need for entrepreneurship Next
  • 13.
    Entrepreneurial Opportunities inAgriculture: Entrepreneurial Opportunities in Agriculture:  Diversification:  Organic farming:  Food preservation, processing and packaging:  Production of agro-inputs  Floriculture Previous Next End
  • 14.
    Let Us SumUp Let Us Sum Up  Entrepreneur is one who identifies and sensitizes the opportunities, innovate the ideas, raises money, assembles inputs and set and mange the organization  The introduction of entrepreneurship in agriculture requires development of certain qualities and skills like positive self concept, moderate risk taker, planning, innovative, information and opportunity seeking, etc. in an entrepreneur.  Important entrepreneurship development opportunities in agriculture are diversification in agriculture, income from venture technologies, food preservation, processing and value addition, production of agro-inputs. The entrepreneurial qualities and skills can be developed through vocational education programmes and training. Previous End
  • 15.
    Thinking About OurFuture Thinking About Our Future Five Stages In The Decision Innovation Process
  • 16.
    Thinking About OurFuture Thinking About Our Future The Solutions? 1.We must unify as institutions 2.Collaborate deeply both vertically and horizontally 3.Developing clearly defined systems must be a priority 4.Reframing our message into the economic development space is essential 5.Be at the economic development tables and share our voice.

Editor's Notes

  • #3 13.3% in 2007;
  • #6 The 5 C’s were summarized from the reading of a variety of entrepreneurship researchers. I am particularly fond of the work of Daniel Isenberg, Don Macke, Chris Gibbons and Thomas Lyons. These individuals have all done outstanding research on the subject. In addition they are also practitioners who have sought to help communities apply these principles. Daniel Isenberg in particular focuses on ecosystems in America and abroad and has a much more extensive chart categorized slightly different from mine available online at - http://www.forbes.com/sites/danisenberg/2011/05/25/introducing-the-entrepreneurship-ecosystem-four-defining-characteristics/ Thomas Lyons has developed the Triple AAA system of entrepreneurship development, which focuses on size, type and need. Don Macke is the rural entrepreneurship from the Center for Rural Entrepreneurship. He is a great friend of the Kansas City Federal Reserve Bank. The most important thing to remember is that the 5 C’s actually interact with each other as well as the entrepreneur. For example, the regulatory and policy climate can influence capital sources. Culture can influence connections and networks. When strategizing for development, the develop has to be cognizant of the interactive nature of all the parts and account for how they influence each other.
  • #7 Right now entrepreneurship based economic development is still in the innovation and early adoption phase. Microbusiness organizations have not embraced it at scale, economic development offices have not embraced it at scale and there is a risk that “THE CHASM” which in diffusion is the place where a critical mass of individuals embrace the strategy and it becomes a normal business practice, will not occur unless we continue to push these models.
  • #9 ENTREPRENEURIAL CHARACTERISTICS Risk Taker Entrepreneurs often take on a high degree of risk and stress. Many entrepreneurs face bankruptcy, that can leave them with not business and no personal assets. Perceptive The owner of Cott Corp. was perceptive, he saw the opportunity to offer a private-label beverage to the grocery industry. Private label or private brand is a product that is manufactured by another company but is sold with a store’s brand name; also called a store brand or private brand. Curious Ray Kroc, a leader in the development of the modern franchise system, recognized the potential of the McDonalds brothers’ restaurant and its formula for producing good and inexpensive food and capitalized on it.
  • #10 ENTREPRENEURIAL CHARACTERISTICS Imaginative The founder of Canadian Railway Newspaper Company (Cara Operations Ltd.), T.P. Phelan took his newspaper service to the next step by providing food service in many sectors. Persistent The story about The Little Engine That Could is a children’s storybook tale of persistence. Goal-setting Some entrepreneurs have local success and then take on new challenges by going international with their business. Hardworking J.M. Schneider worked days for a button factory and in the evenings and at night he worked to provide his own customers with sausages.
  • #11 ENTREPRENEURIAL CHARACTERISTICS Self-confident Sir Richard Branson, the founder of Virgin Records, went out of his comfort zone and started Virgin Airlines. Flexible Video rental businesses demonstrated flexibility buy quickly adapting to the change from video format to DVD format. Independent Each venture is a reflection of the independent entrepreneur who started it. See
  • #15 We are essentially at the knowledge phase of entrepreneurship based economic development. We are making strong arguments as to the value of this model to create a competitive America in the long term. The goal is that as more individuals are persuaded to adopt this model that social proof will occur in the economic development world prompting more communities to utilize this strategy.