This document summarizes key aspects of entrepreneurship from a student assignment. It defines entrepreneurship as the process of starting and running a new business undertaken by an entrepreneur. This involves designing, launching, and managing the business to generate a profit by bringing together tangible factors like production, capital, labor, and land, with intangible factors such as imagination and risk-taking. The document then outlines several features of entrepreneurship, including having a goal-oriented attitude, taking risks, filling gaps in the market, and engaging in creative and dynamic managerial processes. It provides examples to illustrate these different features of entrepreneurship.

1. Gandhinagar Institute of
Technology
Mechanical engineering
Semester : 8
Division : D1
Subject : Entrepreneurship (2181923)
Active learning assignment
on
“ Entrepreneur process ”
Prepared by : Chandresh Suthar
140120119229
Guided by : Prof. Nilesh Gupta

2. Content
 Introduction
 Features of entrepreneurship
1. Goal oriented attitude
2. Risk taking
3. Economic approach
4. Gap filling function
5. Creative activity
6. Dynamic process
7. Managerial functions

3. Entrepreneurship
 Entrepreneurship is the process undertaken by an
entrepreneur to augment his business interest.
 It includes;
1. Designing
2. Launching
3. Running a new business
 Entrepreneurship is a composite skill, result of mix
of tangible and intangible factors.
 Intangible factors;
 Imagination
 Readiness to take the risk
 Planning and organizing skill
 Decision making skill
Introduction to
 Tangible factors
 Production
 Capital
 Labor
 land
 Entrepreneurship is the process of bringing both tangible and intangible factors
to offer product or service with the aim to generate profit.

4. Entrepreneurship
EnterpriseEntrepreneur
A Person
Process of action
Object
A person who starts the business is termed as “Entrepreneur”.
Through his process of action , he develops an “Enterprise”.
Output of his effort and process id known as “Entrepreneurship”

5. Featuresof
Entrepreneurship
1. Goal oriented attitude
2. Risk taking
3. Economic approach
4. Gap filling function
5. Creative activity
6. Dynamic process
7. Managerial functions

6. Goaloriented
attitude
 Entrepreneur has definite goal of creating wealth
through satisfying customer needs with maximum
possibility.
Risktaking
 Risk is in –built part of the part of the
entrepreneurship.
 Entrepreneur takes the risk by confirming rent to
landlord, salaries to employees and interest to
financers.

7. Creativeactivity
 Entrepreneurship is a creative response to change in
the environment.
 It involves innovation or new introduction to existing
one.
Economic
approach
 Entrepreneurship involves the creation and operation
of an enterprise.
 it is primary function to create wealth through
economic approach.

8. Dynamicprocess
 Entrepreneur identify the opportunities with change in
environment.
Gap-filling
function
 When it seems there is a gap between human needs
and available products or service in the market.

9. Managerial
functions
 Managing of business
 Planning of business
 Organizing resources
 Monitoring on-going plans
 Controlling of plans
 Planning of human resources
This all salient features shows that entrepreneurship is a multi-dimensional concept

10. https://www.thebalance.com/entrepreneur-what-is-an-entrepreneur-1794303
http://www.businessdictionary.com/definition/entrepreneurship.html
Entrepreneurship, by : Dr. Akshay Pujara. Books India Publication.
References

11. Thank You !!