Students entrepreneurship

1. Dr. K. Jayapriya
Assistant Professor
Department of Business Administration
K S Rangasamy College of Arts and Science (Autonomous)
Tiruchengode, Namakkal

2. ENTREPRENEUR - INTRODUCTION
An entrepreneur is an individual who creates a new
business, taking on financial risks and organizing resources
to bring new ideas, goods, or services to market in the hope
of generating profit and creating value for society. Key
aspects of an entrepreneur include innovation, risk-taking,
opportunity recognition, leadership, resilience, and a drive
for achievement. They are seen as crucial drivers of
economic growth and societal change.

4. INTRAPRENEUR
An intrapreneur is a person who works at a
company/business that someone else founded. An
intrapreneur is a person who works with his
entrepreneurial skills at a previously established
company. His/her input in the company is that they
embrace innovation, such as expanding the innovation by
introducing new products etc. They embrace innovation
to expand the company and help it grow.

5. Basis Entrepreneur Intrapreneur
Meaning
An entrepreneur is an individual
having a new and exclusive idea to
establish something new.
Intrapreneur is an individual having
entrepreneurial skills who works at a
previously established company.
Motive
An entrepreneur's motive is to bring
change to the world.
An intrapreneur's motive is to grow the
business and make it better.
Nature
Entrepreneurs are innovative in
nature.
Intrapreneurs are innovative in nature but
less than entrepreneurs.
Risk Factor
Entrepreneurs are willing to take
risks.
Intrapreneurs are willing to take risks but less
than entrepreneurs.
Goals
Entrepreneurs focus on long-term
profits. Intrapreneur's goals are to get appraisals,
appreciation, and promotions.
Competition
Entrepreneurs face low competition
for their business. Intrapreneur faces high competition in the
market.
Position
Entrepreneurs are founders of a
company.
Intrapreneurs are employees of a company.
DIFFERENCE BETWEEN ENTREPRENEUR AND
INTRAPRENEUR

6. IMPORTANCE OF ENTREPRENEURSHIP IN
ECONOMY
Entrepreneurship is vital for economic growth, fostering innovation,
creating jobs, stimulating competition, and opening new markets for
goods and services. Entrepreneurs drive economic expansion by
generating wealth, which increases Gross National Income and Per
Capita Income, leading to improved living standards for a
population. They also promote self-reliance, reduce dependence on
imports, and contribute to social change through novel ideas and
business models.

7. Job Creation:
Entrepreneurs create new businesses and then hire
employees, directly increasing overall employment levels and
providing opportunities for professional development across
various sectors.
Innovation and Competition:
Entrepreneurial ventures introduce new products and
services, or improve existing ones, fostering innovation and
competition. This benefits consumers by providing more
choices and better quality, while keeping the economy
dynamic.

8. Economic Growth:
By turning ideas into economic opportunities,
entrepreneurs contribute to the growth of the
economy. This leads to higher Gross National Income
(GNI), as new businesses and industries are established.
Increased National Income and Living Standards:
Growth in the economy, driven by entrepreneurial activity,
translates to higher incomes for individuals, which
improves their standard of living and contributes to
overall well-being.

9. Market Expansion:
Entrepreneurs identify and exploit opportunities, leading
to the development of new markets and the expansion of
existing ones.
Social Transformation:
Entrepreneurs often challenge traditional norms by
introducing new ideas and ways of operating, thereby
driving positive social changes within a community.

11. BUSINESS PLAN
In entrepreneurship, a business model is the fundamental framework
of how a business creates, delivers, and captures value, while
a business plan is a detailed roadmap that explains the strategies,
goals, and financial projections for executing that model and
achieving success. The business model is a strategic blueprint
focused on operations and profit generation, whereas the business
plan is a comprehensive document for communication to stakeholders
like investors, outlining specific actions and forecasts for growth.

12. Typically, a business plan includes:
Executive Summary:
Short overview of the business and its goals. The executive
summary is the TL;DR version of your business plan.
Business Description:
A snapshot of the business idea, including customer needs,
unique value proposition, and solutions.
Market Analysis:
Research the target market, including industry trends,
competitive landscape, risk, and opportunities.

13. Marketing & Sales Strategy:
A plan for attracting new customers and retaining existing
customer base.
Financial Plan:
Expected income, expenses, and profitability over a set
period. An excellent tool to support your financial
projections is the unit economics model.
Operations Plan:
Details of daily operations, resource allocation, talent
capital, and logistics.

31. THANK YOU