New venture creation

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The document discusses different types of entrepreneurial ventures and the entrepreneurs suited for each. It categorizes ventures as revolutionary, niche, propagators of new technology, hustle/speculative deals ventures. For each type it provides the characteristics, examples, competencies and skills required of entrepreneurs pursuing each type of venture. It also provides sample exam questions related to understanding different types of entrepreneurs and competencies needed.

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Entrepreneurial motivation is the process of transforming an ordinary individual to a powerful businessman, who can create opportunities and helps in maximizing wealth and economic development. It is defined as various factors stimulate desires and activates enthusiasm in entrepreneurs which make them attain a particular goal. Entrepreneurship is the process of identifying strengths and opportunities which help in the realization of one’s dreams for designing, developing and running a new business by facing threats and risks effectively. Internal factors External factors Need for self-actualization Optimism Positive attitude Self-motivation Enthusiasm

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