The document provides an overview of entrepreneurship, defining it as the process of establishing an enterprise and highlighting key characteristics of entrepreneurs, such as innovation, risk-taking, and leadership. It differentiates between types of entrepreneurs (innovative, imitative, fabian, drone) and contrasts entrepreneurs with managers and intrapreneurs based on their roles and responsibilities. Risks associated with entrepreneurship, including financial, personal, career, and psychological risks, are also discussed, alongside the entrepreneurial process involving opportunity identification, vision establishment, and resource gathering.

1. TRINITY INSTITUTE OF PROFESSIONAL STUDIES
Sector – 9, Dwarka Institutional Area, New Delhi-75
Affiliated Institution of G.G.S.IP.U, Delhi
BCOM(Hons.)
Entrepreneurship Development
888305
Introduction to Entrepreneurship
Development
By:
SagunaKhajuria
Assistant Professor

2. TRINITY INSTITUTE OF PROFESSIONAL STUDIES
Sector – 9, Dwarka Institutional Area, New Delhi-75
Entrepreneur
• The word ‘Entrepreneur’ finds its origin in
french language as Entreprendre, meaning a
person who undertakes risk of the new
enterprise.
• An entrepreneur according to J.B.Say is
defined as “ one who brings together the
factors of production and combine them into
a product.”

3. TRINITY INSTITUTE OF PROFESSIONAL STUDIES
Sector – 9, Dwarka Institutional Area, New Delhi-75
Characteristics of an Entrepreneur
• He is a catalyst of change
• Action oriented, highly motivated individual
• Undertakes risk
• Accepts responsibilities with enthusiasm and endurance
• He has a dream and visualizes the means to achieve it
• Has sound conceptual knowledge
• He has a strong desire to succeed
• Needs independence in work and decision making
• Highly optimistic
• Create, innovate or even add value to existing products/ services
• Exhibits leadership qualities
• Hardworking

4. TRINITY INSTITUTE OF PROFESSIONAL STUDIES
Sector – 9, Dwarka Institutional Area, New Delhi-75
Types of Entrepreneur
• Innovative Entrepreneur
– Introduces new goods, inaugurates new methods of
production, discovers new markets.
• Imitative Entrepreneur
– Imitate techniques and technology innovated by
others
• Fabian Entrepreneur
– Traditional, resistant to change, only adopt to changes
when necessary.
• Drone Entrepreneur
• Traditionally bounded, refuse to adopt to changes.

5. TRINITY INSTITUTE OF PROFESSIONAL STUDIES
Sector – 9, Dwarka Institutional Area, New Delhi-75
Comparison between Entrepreneur
and Manager
Basis Entrepreneur Manager
Venture creation An entrepreneur sets up a new
venture and runs it
A manager only runs an
existing unit
Innovation He works to find new methods,
products, etc
he deals with day to day
affairs, need not be an
innovator
Risk Taking He takes calculated risks, he is
responsible for failure and
financial loss
He takes less risks as
compared to an
entrepreneur, does not
share business risks
Status He starts and runs his venture
independently, self employed
He is an employee of the
business organization
Reward Motivated by profits Motivated by incentives
Change Always prepared to change May not be very receptive
to change

6. TRINITY INSTITUTE OF PROFESSIONAL STUDIES
Sector – 9, Dwarka Institutional Area, New Delhi-75
Entrepreneur Vs Intrapreneur
Basis Entrepreneur Intrapreneur
Status Owner of business Employee
Capital Raises the requisite capital himself Does not raise any money
Freedom Works independently Semi-independent
Risk-Taking He bears full risks Does not bear any risks
Guarantee Guarantees payment to suppliers No such guarantee
Norms & Rules He frames norms and rules of his
business
He is bound by
organizational norms and
rules

7. TRINITY INSTITUTE OF PROFESSIONAL STUDIES
Sector – 9, Dwarka Institutional Area, New Delhi-75
Entrepreneurship
• It is the process that involves all actions an entrepreneur
undertakes to establish an enterprise to give reality to his
business ideas.
• Entrepreneurship is associated with-
• Perceiving opportunities for profitable investment
• Taking initiative in establishing a business
• Risk bearing
• Introduction of innovations
• Provision of capital
• Coordination of different factors of production

8. TRINITY INSTITUTE OF PROFESSIONAL STUDIES
Sector – 9, Dwarka Institutional Area, New Delhi-75
Characteristics of Entrepreneurship
• It is a function of innovation and leadership
• It is an organization building function
• It is a process of creating value for customers by exploiting
untapped opportunities
• It is concerned with employing, managing and developing the
factors of production
• Strong and positive orientation towards growth in sales,
income, assets and employment.

9. TRINITY INSTITUTE OF PROFESSIONAL STUDIES
Sector – 9, Dwarka Institutional Area, New Delhi-75
Risks associated with Entrepreneurship
• Financial Risk
• Personal Risk
• Career Risk
• Psychological Risk

10. TRINITY INSTITUTE OF PROFESSIONAL STUDIES
Sector – 9, Dwarka Institutional Area, New Delhi-75
Entrepreneurial
Process
Identify an Opportunity
Establish Vision
Persuade Others
Gather Resources
Create New Venture
Change with Time

11. TRINITY INSTITUTE OF PROFESSIONAL STUDIES
Sector – 9, Dwarka Institutional Area, New Delhi-75
Thank You