This document discusses entrepreneurship and innovation from different perspectives. It provides an overview of the personality and profile of entrepreneurs, discussing their traits from psychological, sociological, and economic views. Various theories of entrepreneurship are explained, along with the link between innovation and entrepreneurship. The document emphasizes that innovation can create new resources or increase the value of existing resources. It outlines strategies for innovation and discusses sources of innovation within and outside a company. These may come from unexpected occurrences, incongruities, changes in demographics or perception.

1. ENTREPRENEURSHIP
MANAGEMENT
PERSONALITY & INNOVATION OF AN
ENTREPRENEUR
PRESENTED BY –
Bidyadhar Nayak (04)
Prachi Jadhav (09)
Rashmi Vaishya (14)
Asha Rawat (19)

2. INTRODUCTION
 Entrepreneur operates in an open
world whereas an intrapreneur
operates within an organization.
 He fights with the bureaucratic hurdles
& inertia which normally sets in an
organization to keep the entrepreneur
spirit alive

3. AN ENTREPRENEUR’S
PROFILE
• Institutional capacity
• Adaptive
• Surmount social opposition
Psychologist
View
• Collective approach
• Keen towards social and cultural factors
• studies entrepreneurship as a
phenomenon of society
Sociologist
View
• Focus as a mechanism, process,
function, small business management
and ownership
• equilibrium between demand and supply
and open competition environment
Economist
View

5. THEORIES
Sociological Theory

6. Psychology Theories
David C. McClelland’s
• Needs for Achievements
• Helps to stimulates through training programs
Edward Hagen
• Withdrawal of status respect
• Punjabi & Sindhi entrepreneur relocated to India from
Pakistan
Anne Kovalainen's
• Psychological model
• To the context of the developing working life
Kari Vesala’s
• Locus of control
• which factors control his/her behaviour

7. WHAT IS INNOVATION?
Innovation is investing of resources to create new
wealth or investing of wealth to create new
resources. It is measured by assessing its impact on
environment, and therefore innovation should
always be market focused.
INNOVATION & ENTREPRENEURSHIP- LINK
Innovation is the means by which the entrepreneur
either creates new wealth-producing resources or
endows existing resources with enhanced potential
for creating wealth.

8. INNOVATIVE STRATEGY
The motto of a strategy for the on going
business is Better and More, however motto of a
strategy for innovation is New and Different.
Why does one need to innovate?
• To face competition
• To stand out in a clutter
• To survive recession
• To solve certain problems

9. Innovation & profit:
joseph Schumpeter’s theory
Innovation can be divided into 2 categories:-
 Reduce the cost of production
By introducing new machinery, new technique, new
method of organizing the firm
 Increase the demand for the product
By introducing new product, new design, new
method of advertisement

10. INSTILLING ATTITUDE FOR INNOVATION
Top management has to start treating the
innovation initiative as a critical one in which every
level of employees must participate. Following are
the ideas:-
 Encourage creative conflict
 Big ideas come from small teams
 Learning happens away from desk
 Failure sometimes produces innovation
 Understand the product’s user

11. SOURCES OF INNOVATION
Most innovations results from a conscious, purposeful
search for Innovative opportunities, which are found
only in a few situations.
Within a company or industry, areas of opportunities
can exist in the form:-
 Unexpected occurrences
 Incongruities
 Process needs

12. UNEXPECTED OCCURRENCES
Example:-
Bajaj launched Sunny for rural and semi-urban
markets to upgrade over Mopeds using modern
technology(no gear)

13. INCONGRUITIES & DISAGREEMENTS
An incongruity within the logic can give rise to
Innovation opportunities.
Example:-
70% of two-wheelers were bought on finance
provided by banks and FI.
Bajaj started- “Bajaj Auto Finance” which
provided finance to dealers.
An incongruity between economic realities can
also lead to innovations.

14. OUTSIDE THE COMPANY
 Demographic changes
 Changes in perception
DEMOGRAPHIC CHANGES
Innovation opportunities possible due to changes in
the no. of people, their age distribution, education,
geographical location etc.
In 80’s, primary target of bike zi7
Man aged25-40, income 5000pm
In 90’s New audience
Boy aged17-21, pocket money 5000pm

15. CHANGES IN PERCEPTION
The glass is half-empty and half full are descriptions
of the same phenomenon but have vastly different
meanings.
Changing a manager’s perception from half-empty
to half-full opens big innovation opportunities.

16. Thank You..!