Nitish Kumar Dr B C Roy Engineering College Durgapur, CSE, 2019-2023

1. INNOVATION IN
ENTREPRENEURSHIP & ITS
CONTRIBUTION TO THE
SOCIETY
BY: NITISH KUMAR
ROLL NO.- 12001319032
CSE2
4TH YEAR

2. CONTENTS
INNOVATION
TYPES OF INNOVATIONS
WHO IS ENTREPRENEUR?
CHARACTERISTICS OF A GOOD
ENTREPRENEUR
Main Functions/Roles of an Entrepreneur in
Developing Country
Problem Before Entrepreneurs
Social Entrepreneurs
SUMMARY AND CONCLUSION

3.  Innovation is the implementation of new ideas at the individual, group or organizational level.
 A process of intentional change made to create value by meeting opportunity and seeking
advantage.
 Process: Innovation is a process (implying among other things, that it can be
learned and managed).
 Intentional: That process is carried out on purpose.
 Change: It results in some kind of change.
 Value: The whole point of the change is to create value in our economy, society
and/or individual lives.
 Opportunity: Entrepreneurial individuals enable tomorrow's value con by
exploring for today having ideas, turning ideas vit marketable insights and seeking ways
to meet opportunities.
 Advantage: At the same time, they also create value by exploiting the
opportunities they have at hand.
INNOVATION

4. There are four distinct types of innovation, these are as follows:
Invention- Described as the creation of new product, service or process.
Something that has not been tried before.
Extension- The expansion of an existing product, service or process. This
would mean that the entrepreneur takes an existing ides and applies it
differently.
Duplication- Copying (replicating) an existing product or service and
then adding the entrepreneurs own creative touch, in order to improve it.
Synthesis- A combination of more than one existing products or services
in toa new product or service. This means that several different ideas are
combined in to one new product or service.
TYPES OF INNOVATIONS

5.  A person who creates his own business who
organizes, operates and share the risk of
business.
 Generator of new ideas, who makes it real as
new innovation.
Richard Cantillon: He considered all persons
engaged in economic activity as Entrepreneurs.
WHO IS ENTREPRENEUR?

6. Mental ability: It refers to intelligence and creative thinking.
Clear Objective: Mainly he should focus on Profit.
Business Secrecy: Able to guard Business Secrets.
Human relation ability: The most important factors contributing to the success of an
entrepreneur are emotional stability, personal relations , consideration and
tactfulness. An entrepreneur must maintain good relation with his customers.
Communication Ability: Effective communication means that both the sender and
receiver understand each other and are being understood.
Characteristics of a Good Entrepreneur

8. Determine objective
Development of the organization
Securing resources
Arranging Technology & Equipment
Development of New Markets
Good Relation between Public Authorities and
Society
Management of Human Relations
Financial Management
Production Management
Main Functions/Roles of an
Entrepreneur in Developing Country

9. Problem relating to funds.
Problem relating to Administration- Like: Labour
Problem, Poor management.
Problem in respect of Marketing.
Problems in respect of Production.
Problems Relating to upgradation of Technology.
Problem Due to use of Internet.
Problem due to World Trade Organization (W.T.O).
Problem Before Entrepreneurs:

10. 1. Vinoba Bhave (India) - Founder and leader of the Land Gift
Movement, he caused the redistribution of more than 7,000,000 acres
(28,000 km²) of land to aid India's untouchables and landless.
Mahatma Gandhi described him as his mentor.
2. Akhtar Hameed Khan (Pakistan) - Founder of grassroots movement
for rural communities Comilla Model, and low-cost sanitation
programmes (Orangi Pilot Project) for squatter settlements.
3. Muhammad Yunus (Bangladesh) - Founder of microcredit and the
Grameen Bank. He was awarded the 2006 Nobel Peace Prize.
Social Entrepreneurs:

11.  The change that entrepreneurs bring about is through creativity and innovation
Therefore, it is not surprising to see that entrepreneurs are among the more
creative and innovative players of organizational change.
 Creativity requires someone like an entrepreneur) to add value in the market
place through the innovation process.
 From the idea generation to the successful product development and launch,
innovation is the seed bed for change. Charged with the coordination of the
innovation process are the entrepreneurs.
 It is the job of the entrepreneurs to be creative in identifying the gap in the
market and innovate product to fill this gap.
SUMMARY AND CONCLUSION

12. THANK YOU