This document discusses various types and classifications of entrepreneurs. It begins by defining entrepreneurship as the process of creating a new enterprise to generate profit while bearing risks. An entrepreneur is described as someone who initiates and drives new projects or businesses. The document then provides historical examples and discusses classifications such as according to organization type, business type, motivations, growth stages, capital ownership, and more. It concludes by outlining some key economic, psychological, and social factors that can influence entrepreneurship.
The document defines an entrepreneur as an individual who undertakes the risk of operating a business in the face of uncertainty. Entrepreneurship is the process of taking calculated risks with confidence to achieve a business objective. An entrepreneur is described as a visualizer, creator, innovator, decision maker, risk taker, and leader. Entrepreneurship involves initiating a new technology, idea, or perception through an innovative process. The concept of entrepreneurship can be explained through economic, sociological, and psychological approaches.
This document discusses different theories of motivation. It begins by defining motivation as an internal state that directs and maintains behavior. It then discusses entrepreneurial motivation as the process that activates entrepreneurs to exert effort towards their goals.
The document goes on to summarize Maslow's hierarchy of needs theory, which proposes that people are motivated by five universal needs arranged hierarchically from physiological needs to safety, social, esteem, and self-actualization needs. It provides examples of each type of need.
Finally, the document summarizes McClelland's theory of needs, which identifies the three main motives that drive people as achievement, affiliation, and power. It describes each motive and explains how recognizing an individual's dominant motive can
Concept need and process in entrepreneurship development andRole of enterpr...Madhu Honey
This document discusses the concept and process of entrepreneurship development and the role of enterprises in national and global economies. It defines entrepreneurship as designing, launching, and running a new business. It describes the concepts of entrepreneurship including risk bearing, innovation, managerial skills, creativity, and business orientation. The process of entrepreneurship development includes opportunity identification, business planning, resourcing, managing operations, and harvesting. Enterprises play key roles in economies by creating wealth and jobs, promoting regional development, increasing GDP and incomes, raising living standards, and enabling exports.
The document discusses entrepreneurship development and entrepreneurship programs. It defines entrepreneurship as identifying opportunities and arranging resources to exploit opportunities for long-term gains. Entrepreneurship requires characteristics like being a risk-taker and goal-setter. The document outlines several government institutions that provide entrepreneurship programs in India and discusses some problems faced by these programs, such as a lack of infrastructure and proper methodology. Overall, the document emphasizes that entrepreneurship development programs play an important role in eliminating poverty, promoting balanced regional development, and fostering economic independence in India.
The document discusses the entrepreneurial process which consists of 5 stages: discovery, concept development, resourcing, actualization, and harvesting. Discovery involves generating business ideas and studying the market. Concept development involves creating a business plan. Resourcing involves acquiring financial and human resources. Actualization involves operating the business. Harvesting involves deciding on the business's future growth or demise.
The document discusses entrepreneurship, defining key terms like income generation, self-employment, and entrepreneurship. It identifies the four factors of enterprise as land, labor, capital, and entrepreneur. Entrepreneurship is described as taking risks to start a productive venture seeking profit. Internal driving forces within a business and external forces outside its control are discussed. The document also covers classifications of entrepreneurship, barriers to entrepreneurship, and the difference between entrepreneurs and managers.
The document defines an entrepreneur as someone who creates a new business while taking risks and uncertainties in order to make a profit. It discusses various theories of entrepreneurship including economic, sociological, and psychological theories. It also covers characteristics, types, functions, and barriers of entrepreneurs. The stages of the entrepreneurial process include discovery, concept development, resourcing, actualization, and harvesting. Entrepreneurial culture and its components that promote entrepreneurship are also summarized.
The document defines an entrepreneur as an individual who undertakes the risk of operating a business in the face of uncertainty. Entrepreneurship is the process of taking calculated risks with confidence to achieve a business objective. An entrepreneur is described as a visualizer, creator, innovator, decision maker, risk taker, and leader. Entrepreneurship involves initiating a new technology, idea, or perception through an innovative process. The concept of entrepreneurship can be explained through economic, sociological, and psychological approaches.
This document discusses different theories of motivation. It begins by defining motivation as an internal state that directs and maintains behavior. It then discusses entrepreneurial motivation as the process that activates entrepreneurs to exert effort towards their goals.
The document goes on to summarize Maslow's hierarchy of needs theory, which proposes that people are motivated by five universal needs arranged hierarchically from physiological needs to safety, social, esteem, and self-actualization needs. It provides examples of each type of need.
Finally, the document summarizes McClelland's theory of needs, which identifies the three main motives that drive people as achievement, affiliation, and power. It describes each motive and explains how recognizing an individual's dominant motive can
Concept need and process in entrepreneurship development andRole of enterpr...Madhu Honey
This document discusses the concept and process of entrepreneurship development and the role of enterprises in national and global economies. It defines entrepreneurship as designing, launching, and running a new business. It describes the concepts of entrepreneurship including risk bearing, innovation, managerial skills, creativity, and business orientation. The process of entrepreneurship development includes opportunity identification, business planning, resourcing, managing operations, and harvesting. Enterprises play key roles in economies by creating wealth and jobs, promoting regional development, increasing GDP and incomes, raising living standards, and enabling exports.
The document discusses entrepreneurship development and entrepreneurship programs. It defines entrepreneurship as identifying opportunities and arranging resources to exploit opportunities for long-term gains. Entrepreneurship requires characteristics like being a risk-taker and goal-setter. The document outlines several government institutions that provide entrepreneurship programs in India and discusses some problems faced by these programs, such as a lack of infrastructure and proper methodology. Overall, the document emphasizes that entrepreneurship development programs play an important role in eliminating poverty, promoting balanced regional development, and fostering economic independence in India.
The document discusses the entrepreneurial process which consists of 5 stages: discovery, concept development, resourcing, actualization, and harvesting. Discovery involves generating business ideas and studying the market. Concept development involves creating a business plan. Resourcing involves acquiring financial and human resources. Actualization involves operating the business. Harvesting involves deciding on the business's future growth or demise.
The document discusses entrepreneurship, defining key terms like income generation, self-employment, and entrepreneurship. It identifies the four factors of enterprise as land, labor, capital, and entrepreneur. Entrepreneurship is described as taking risks to start a productive venture seeking profit. Internal driving forces within a business and external forces outside its control are discussed. The document also covers classifications of entrepreneurship, barriers to entrepreneurship, and the difference between entrepreneurs and managers.
The document defines an entrepreneur as someone who creates a new business while taking risks and uncertainties in order to make a profit. It discusses various theories of entrepreneurship including economic, sociological, and psychological theories. It also covers characteristics, types, functions, and barriers of entrepreneurs. The stages of the entrepreneurial process include discovery, concept development, resourcing, actualization, and harvesting. Entrepreneurial culture and its components that promote entrepreneurship are also summarized.
Role of Entrepreneur’s in Economic DevelopmentJaikumar Pandit
Entrepreneurs play a key role in economic development by creating wealth and jobs, promoting balanced regional growth, and increasing GDP and standards of living. They mobilize capital for new businesses, employ many workers, and locate in less developed areas to spur infrastructure growth there. Their businesses produce goods and services that contribute to national income and output, raising GDP and per capita income. Entrepreneurs also introduce new and improved products that enhance living standards and remove supply shortages. Their exports can expand markets while stabilizing revenue during domestic economic downturns. Community development through education and skills training is important to build a workforce that attracts new businesses and promotes long-term economic prosperity.
Importance of Entrepreneurship | Jignesh BarasaraJignesh Barasara
Entrepreneurship helps in identifying and developing managerial capabilities of entrepreneurs. An entrepreneur after studying a problem, identifies its alternatives, compares the alternatives in terms of cost and benefits implications to choose the best alternative.
Connect with us: -
Official Facebook Page -
https://www.facebook.com/JigneshBarasaraEntrepreneur/
Official Twitter Page - https://twitter.com/BarasaraJignesh
Official Pinterest Page - https://in.pinterest.com/jbarasara/
Youtube Channel - https://www.youtube.com/c/JigneshBarasara
The major functions of an entrepreneur are given below: Functions of an entrepreneur. Organizing functions: Organizing is the part of managing that involves establishing intentional structures of a role for people in an organization. The entrepreneur is responsible for organizing the activities necessary for ht production of goods and services.
functions of entrepreneurship pdf
functions of entrepreneurship
functions of entrepreneurs in business
role of entrepreneurship in society
functions of an entrepreneur pdf
types of entrepreneurship
benefits of entrepreneurship to the economy
main functions of entrepreneurs
functions of an entrepreneur
functions of entrepreneurs in business
main functions of entrepreneurs
major functions of the entrepreneur
functions of entrepreneurship pdf
roles of an entrepreneur
entrepreneur notes pdf
characteristics of an entrepreneur
The document discusses business opportunities and how entrepreneurs can identify them. It defines a business opportunity as an economic idea that can be implemented to start a profitable business venture. It states that opportunities must have an assured market, attractive returns, be practical, allow the entrepreneur's competence, and have growth potential. Entrepreneurs must analyze ideas based on these factors to identify true opportunities.
This document provides an overview of entrepreneurship presented by Simran Kaur. It defines key terms like enterprise, entrepreneurship, and entrepreneur. It discusses theories of entrepreneurship and characteristics of successful entrepreneurs like being self-employed, risk-taking, and innovative. Intrapreneurs who create new ideas within companies are also covered. The roles of entrepreneurship in economic development and common problems entrepreneurs face are summarized. The presentation outlines the development stages of starting a new enterprise and differences between entrepreneurs and managers.
The document discusses motivation and factors influencing entrepreneurship. It notes that motivation is important for management and initiates and guides goal-oriented behavior. Both internal factors like ambition and external factors like government support can influence entrepreneurship. The document also examines different motivations for becoming an entrepreneur such as making money, continuing family business, or being creative. It explores measures of entrepreneurial success and how success of a venture can be its own reward.
The document discusses definitions and characteristics of entrepreneurs and entrepreneurship from various scholars and perspectives. It defines entrepreneurs as innovators who recognize opportunities, take risks to start new business ventures, and realize rewards. Successful entrepreneurs have qualities like initiative, willingness to take risks, ability to learn from mistakes, self-confidence, motivation towards hard work, and ability to make timely decisions. Entrepreneurship is the process undertaken by entrepreneurs to establish new enterprises through creative innovation.
EVALUATION THE PERFORMANCE OF ENTREPRENEURSHIP DEVELOPMENT PROGRAM Navneetyadav711
EVALUATION THE PERFORMANCE OF ENTREPRENEURSHIP DEVELOPMENT PROGRAM
EDP is a programme meant to develop entrepreneurial abilities among the people. In other words, it refers to inculcation, development, and polishing of entrepreneurial skills into a person needed to establish and successfully run his / her enterprise.
1) The entrepreneurial process involves discovering a new business idea, developing a business plan, securing necessary resources, and managing the company.
2) Key steps in the process include searching for ideas, assessing ideas, analyzing promising concepts, selecting an idea, assembling resources, determining operations, planning finances, launching, and managing.
3) After starting operations, the entrepreneur evaluates growth and decides whether to maintain stability or expand the business, thus completing one cycle of the recurring entrepreneurial process.
Mkt#210 lecture 2 factors affecting entrepreneurship developmentKawser Ahmad Sohan
The document discusses factors that influence entrepreneurial growth, including economic factors like capital, labor, raw materials, and market conditions, as well as non-economic factors like social conditions, psychological factors, and government actions. Economic factors promote entrepreneurship by providing resources for new businesses, while non-economic factors like social norms, individual motivations, and supportive policies can encourage or discourage people from becoming entrepreneurs. The document examines how each of these internal and external conditions impact entrepreneurial emergence and development.
The document defines an entrepreneur as someone who organizes and manages an independent business venture that involves risk in order to earn a profit. It then lists 10 key characteristics of successful entrepreneurs: they have an inner drive to succeed, are innovative, competitive, highly motivated and energetic, open to change, time conscious, risk takers, passionate, curious, and open minded. The document provides examples of famous Filipino entrepreneurs who demonstrate these traits, such as Henry Sy, Lucio Tan, Socorro Ramos, and John Gokongwei.
Entrepreneurship involves significant risk but can provide substantial rewards like profits and independence. While it offers excitement from adventure and developing new products, entrepreneurs must be willing to work irregular schedules and make difficult decisions alone. Starting a business also means entrepreneurs may have to forgo benefits, give up a steady salary, and deal with incompetent staff, all of which can negatively impact productivity and profits if not properly managed.
This document discusses entrepreneurship and the various perspectives and schools of thought regarding entrepreneurship. It defines entrepreneurs as individuals who recognize opportunities, convert them into marketable ideas through investment of time, effort, money and skills, and assume risks in commercializing innovations. The document explores how entrepreneurs have evolved over time and influenced economic and technological changes. It also examines different types of entrepreneurs and the various pathways one can take to pursue entrepreneurship.
Concept of Entrepreneurship Development and promotionGabriel Konayuma
This presentation looks at the concept of Entrepreneurship Development and the
Role of Entrepreneurship Development. It concludes with identifying various approaches to Entrepreneurship Development
Entrepreneurs plays an important role in developing countries as well as developed countries.
What are the role played by them is mentioned in this presentation.
Presentation Created and Managed by Naveen Minj.
Personal factors like personality traits, education level, work experience, and family environment affect a person's entrepreneurial potential. Key competencies for entrepreneurs include initiative, proactivity, perseverance, problem-solving abilities, persuasion skills, self-confidence, learning from mistakes, planning abilities, and risk-taking. Environmental factors like unsatisfying employment conditions can motivate people to start their own businesses. Political stability and reasonable economic policies create an environment conducive to entrepreneurship, while socioeconomic factors like education levels, social mobility, and investment capacity also influence entrepreneurial activity rates. Access to capital, labor, customers and suppliers stimulates entrepreneurship.
The document discusses the need for entrepreneurship in developing countries like India. It states that entrepreneurship plays a vital role in economic development and growth by bringing innovation, creating employment opportunities, and increasing profits. Entrepreneurship is important for providing inclusive growth and meeting the challenges of advancing technology through new ideas and reducing costs. The development of entrepreneurship is key for a country to become more developed and raise standards of living.
Chapter 1 concept and nature of entrepreneurshipAlebachew Hailu
This document provides an overview of entrepreneurship including: the concept of entrepreneurship and importance of entrepreneurship; functions and characteristics of entrepreneurs; differences between entrepreneurs and managers; the entrepreneurial process involving identifying opportunities, developing a business plan, determining required resources, and managing the enterprise; and the ethics and social responsibility of entrepreneurship.
The Nature and Importance of Entrepreneursgohar321
This document summarizes key points from Chapter 1 of the textbook on the nature and importance of entrepreneurs. It defines what an entrepreneur is and discusses the entrepreneurial decision process. It describes the different types of startups such as lifestyle firms, foundation companies, and high-potential ventures. It also examines the role of entrepreneurship in economic development through innovation and commercializing new products and services.
The document provides an introduction to the topic of entrepreneurship. It defines entrepreneurship and entrepreneurs. An entrepreneur is defined as an individual who establishes a business to introduce a new product or service and assumes the financial risks involved. Entrepreneurship is the process of identifying business opportunities and creating an organization to capitalize on those opportunities. Successful entrepreneurs possess traits like creativity, risk-taking ability, and motivation to achieve goals. E-business, or conducting business online, allows entrepreneurs to reach a global customer base and reduces some costs.
This is the first session of 3 consecutive sessions covering the Topics of Entrepreneurship and Small Business Management conducted for Pearson's BTEC in Business Management.
In this lecture we capture the essence of Entrepreneurship. Types of entrepreneurs and an emphasis on the concept of Social Entrepreneurship.
Role of Entrepreneur’s in Economic DevelopmentJaikumar Pandit
Entrepreneurs play a key role in economic development by creating wealth and jobs, promoting balanced regional growth, and increasing GDP and standards of living. They mobilize capital for new businesses, employ many workers, and locate in less developed areas to spur infrastructure growth there. Their businesses produce goods and services that contribute to national income and output, raising GDP and per capita income. Entrepreneurs also introduce new and improved products that enhance living standards and remove supply shortages. Their exports can expand markets while stabilizing revenue during domestic economic downturns. Community development through education and skills training is important to build a workforce that attracts new businesses and promotes long-term economic prosperity.
Importance of Entrepreneurship | Jignesh BarasaraJignesh Barasara
Entrepreneurship helps in identifying and developing managerial capabilities of entrepreneurs. An entrepreneur after studying a problem, identifies its alternatives, compares the alternatives in terms of cost and benefits implications to choose the best alternative.
Connect with us: -
Official Facebook Page -
https://www.facebook.com/JigneshBarasaraEntrepreneur/
Official Twitter Page - https://twitter.com/BarasaraJignesh
Official Pinterest Page - https://in.pinterest.com/jbarasara/
Youtube Channel - https://www.youtube.com/c/JigneshBarasara
The major functions of an entrepreneur are given below: Functions of an entrepreneur. Organizing functions: Organizing is the part of managing that involves establishing intentional structures of a role for people in an organization. The entrepreneur is responsible for organizing the activities necessary for ht production of goods and services.
functions of entrepreneurship pdf
functions of entrepreneurship
functions of entrepreneurs in business
role of entrepreneurship in society
functions of an entrepreneur pdf
types of entrepreneurship
benefits of entrepreneurship to the economy
main functions of entrepreneurs
functions of an entrepreneur
functions of entrepreneurs in business
main functions of entrepreneurs
major functions of the entrepreneur
functions of entrepreneurship pdf
roles of an entrepreneur
entrepreneur notes pdf
characteristics of an entrepreneur
The document discusses business opportunities and how entrepreneurs can identify them. It defines a business opportunity as an economic idea that can be implemented to start a profitable business venture. It states that opportunities must have an assured market, attractive returns, be practical, allow the entrepreneur's competence, and have growth potential. Entrepreneurs must analyze ideas based on these factors to identify true opportunities.
This document provides an overview of entrepreneurship presented by Simran Kaur. It defines key terms like enterprise, entrepreneurship, and entrepreneur. It discusses theories of entrepreneurship and characteristics of successful entrepreneurs like being self-employed, risk-taking, and innovative. Intrapreneurs who create new ideas within companies are also covered. The roles of entrepreneurship in economic development and common problems entrepreneurs face are summarized. The presentation outlines the development stages of starting a new enterprise and differences between entrepreneurs and managers.
The document discusses motivation and factors influencing entrepreneurship. It notes that motivation is important for management and initiates and guides goal-oriented behavior. Both internal factors like ambition and external factors like government support can influence entrepreneurship. The document also examines different motivations for becoming an entrepreneur such as making money, continuing family business, or being creative. It explores measures of entrepreneurial success and how success of a venture can be its own reward.
The document discusses definitions and characteristics of entrepreneurs and entrepreneurship from various scholars and perspectives. It defines entrepreneurs as innovators who recognize opportunities, take risks to start new business ventures, and realize rewards. Successful entrepreneurs have qualities like initiative, willingness to take risks, ability to learn from mistakes, self-confidence, motivation towards hard work, and ability to make timely decisions. Entrepreneurship is the process undertaken by entrepreneurs to establish new enterprises through creative innovation.
EVALUATION THE PERFORMANCE OF ENTREPRENEURSHIP DEVELOPMENT PROGRAM Navneetyadav711
EVALUATION THE PERFORMANCE OF ENTREPRENEURSHIP DEVELOPMENT PROGRAM
EDP is a programme meant to develop entrepreneurial abilities among the people. In other words, it refers to inculcation, development, and polishing of entrepreneurial skills into a person needed to establish and successfully run his / her enterprise.
1) The entrepreneurial process involves discovering a new business idea, developing a business plan, securing necessary resources, and managing the company.
2) Key steps in the process include searching for ideas, assessing ideas, analyzing promising concepts, selecting an idea, assembling resources, determining operations, planning finances, launching, and managing.
3) After starting operations, the entrepreneur evaluates growth and decides whether to maintain stability or expand the business, thus completing one cycle of the recurring entrepreneurial process.
Mkt#210 lecture 2 factors affecting entrepreneurship developmentKawser Ahmad Sohan
The document discusses factors that influence entrepreneurial growth, including economic factors like capital, labor, raw materials, and market conditions, as well as non-economic factors like social conditions, psychological factors, and government actions. Economic factors promote entrepreneurship by providing resources for new businesses, while non-economic factors like social norms, individual motivations, and supportive policies can encourage or discourage people from becoming entrepreneurs. The document examines how each of these internal and external conditions impact entrepreneurial emergence and development.
The document defines an entrepreneur as someone who organizes and manages an independent business venture that involves risk in order to earn a profit. It then lists 10 key characteristics of successful entrepreneurs: they have an inner drive to succeed, are innovative, competitive, highly motivated and energetic, open to change, time conscious, risk takers, passionate, curious, and open minded. The document provides examples of famous Filipino entrepreneurs who demonstrate these traits, such as Henry Sy, Lucio Tan, Socorro Ramos, and John Gokongwei.
Entrepreneurship involves significant risk but can provide substantial rewards like profits and independence. While it offers excitement from adventure and developing new products, entrepreneurs must be willing to work irregular schedules and make difficult decisions alone. Starting a business also means entrepreneurs may have to forgo benefits, give up a steady salary, and deal with incompetent staff, all of which can negatively impact productivity and profits if not properly managed.
This document discusses entrepreneurship and the various perspectives and schools of thought regarding entrepreneurship. It defines entrepreneurs as individuals who recognize opportunities, convert them into marketable ideas through investment of time, effort, money and skills, and assume risks in commercializing innovations. The document explores how entrepreneurs have evolved over time and influenced economic and technological changes. It also examines different types of entrepreneurs and the various pathways one can take to pursue entrepreneurship.
Concept of Entrepreneurship Development and promotionGabriel Konayuma
This presentation looks at the concept of Entrepreneurship Development and the
Role of Entrepreneurship Development. It concludes with identifying various approaches to Entrepreneurship Development
Entrepreneurs plays an important role in developing countries as well as developed countries.
What are the role played by them is mentioned in this presentation.
Presentation Created and Managed by Naveen Minj.
Personal factors like personality traits, education level, work experience, and family environment affect a person's entrepreneurial potential. Key competencies for entrepreneurs include initiative, proactivity, perseverance, problem-solving abilities, persuasion skills, self-confidence, learning from mistakes, planning abilities, and risk-taking. Environmental factors like unsatisfying employment conditions can motivate people to start their own businesses. Political stability and reasonable economic policies create an environment conducive to entrepreneurship, while socioeconomic factors like education levels, social mobility, and investment capacity also influence entrepreneurial activity rates. Access to capital, labor, customers and suppliers stimulates entrepreneurship.
The document discusses the need for entrepreneurship in developing countries like India. It states that entrepreneurship plays a vital role in economic development and growth by bringing innovation, creating employment opportunities, and increasing profits. Entrepreneurship is important for providing inclusive growth and meeting the challenges of advancing technology through new ideas and reducing costs. The development of entrepreneurship is key for a country to become more developed and raise standards of living.
Chapter 1 concept and nature of entrepreneurshipAlebachew Hailu
This document provides an overview of entrepreneurship including: the concept of entrepreneurship and importance of entrepreneurship; functions and characteristics of entrepreneurs; differences between entrepreneurs and managers; the entrepreneurial process involving identifying opportunities, developing a business plan, determining required resources, and managing the enterprise; and the ethics and social responsibility of entrepreneurship.
The Nature and Importance of Entrepreneursgohar321
This document summarizes key points from Chapter 1 of the textbook on the nature and importance of entrepreneurs. It defines what an entrepreneur is and discusses the entrepreneurial decision process. It describes the different types of startups such as lifestyle firms, foundation companies, and high-potential ventures. It also examines the role of entrepreneurship in economic development through innovation and commercializing new products and services.
The document provides an introduction to the topic of entrepreneurship. It defines entrepreneurship and entrepreneurs. An entrepreneur is defined as an individual who establishes a business to introduce a new product or service and assumes the financial risks involved. Entrepreneurship is the process of identifying business opportunities and creating an organization to capitalize on those opportunities. Successful entrepreneurs possess traits like creativity, risk-taking ability, and motivation to achieve goals. E-business, or conducting business online, allows entrepreneurs to reach a global customer base and reduces some costs.
This is the first session of 3 consecutive sessions covering the Topics of Entrepreneurship and Small Business Management conducted for Pearson's BTEC in Business Management.
In this lecture we capture the essence of Entrepreneurship. Types of entrepreneurs and an emphasis on the concept of Social Entrepreneurship.
The document discusses theories of entrepreneurship including economic, sociological, cultural values, psychological, innovation, and Harvard school theories. It provides details on the economic theory which links entrepreneurship and economic growth. The sociological theory notes social factors like culture, values, and customs influence entrepreneurs. The innovation theory posits entrepreneurs drive growth through new products, production methods, markets, resources, and organization. Overall, the document examines different perspectives on what drives entrepreneurship.
The document discusses different types of entrepreneurship including small business entrepreneurship, large company entrepreneurship, social entrepreneurship, scalable startups, hustler entrepreneurship, innovative entrepreneurship, and imitative entrepreneurship. It also discusses characteristics of entrepreneurs such as being versatile, flexible, money savvy, resilient, focused, business smart, and good communicators. Some challenges entrepreneurs face are also mentioned such as securing funding, managing cash flow, developing new ideas, and dealing with failure.
This document provides an overview of entrepreneurship and business concepts for an A-Level Business Studies course. It defines key terms like business, management, entrepreneur, and enterprise. It describes characteristics of successful entrepreneurs like initiative, hard work, resilience, and risk-taking. It also discusses reasons why people become entrepreneurs such as independence, higher rewards, and commitment to a product or idea. Finally, it examines leadership styles like autocratic leadership and when it may or may not be effective.
This document provides an exhaustive list of different types of entrepreneurship categorized in various ways. Some of the key types discussed include: online entrepreneurship, wantrepreneurship, social entrepreneurship, webpreneurship, influencer entrepreneurship, solopreneurship, intrapreneurship, multipreneurship, entremanureship, contrepreneurship, dadpreneurship, mompreneurship, opportunistic entrepreneurship, acquisitive entrepreneurship, incubative entrepreneurship, mass entrepreneurship, cultural entrepreneurship, international entrepreneurship, ecopreneurship, transpreneurship, e-entrepreneurship, domestic entrepreneurship, state entrepreneurship, innovative entrepreneurship, imitative
TLE 504 - Introduction to Entrepreneurship.pptxMendozaPatrice
There are people around the world who are unaware of their entrepreneurial potential. It is because, an entrepreneurial capacity is not innate in every person but has to be developed. Not all human being is born to become an entrepreneur or to engage in entrepreneurship. To become one of them, the education of a person should not be impeded or hindered by being financially-handicapped. It requires an initiative and the values of resourcefulness and self-determination. Through these, the person could find the opportunities for supports to develop his/her own competencies to think and innovate. These abilities can be noted on the persons that are not contented of what they do but, to keep on thinking. In fact, there are public servants who resign from government service and engage on entrepreneurial activities. They want to exploit their full potentials and became successful in business. Unlike in government service, it is in entrepreneurship where some people became successful in life. Because of their innovative, they could immediately implement what they thought and seek government supports when necessary. Entrepreneurship can be considered a national asset, and entrepreneurs are the drivers of that asset for any country. It is a dynamic process that not only increases wealth and but can also create value that results in improved well-being. It plays an important role in changing society, so it makes sense to cultivate, motivate, and remunerate this greatest asset to the greatest extent possible (Mohamed, 2020). Universities, being a brewing spot for knowledge spillover (Audretsch and Caiazza, 2016), are considered as an engine to improve economic growth by developing potential entrepreneurs (Lackéus, 2015; Ward et al., 2019). Entrepreneurial potential is a useful concept because not only it encompasses the degree in which an individual possesses entrepreneurial-related qualities, but also accounts for entrepreneurial intentions, or the state of mind of determination to act toward creating business. Intentions are particularly meaningful because they have a reasonably high prediction power of actual behavior (Krueger, 2017; Ward et al., 2019), and it is a good proxy to overview the short-term future of business activity. Hence, teachers are introduced to the concepts and theories of entrepreneurship, including some factors that drive entrepreneurship. While the topic requires more understanding, it is also necessary for the teachers that they be capacitated to become an entrepreneur as their additional tools in the delivery of service to communities.
This document discusses entrepreneurship and different types of entrepreneurs. It defines entrepreneurship as strategic risk-taking that creates new opportunities. Entrepreneurs take actions to pursue opportunities others may not recognize. The document outlines common myths about entrepreneurs and discusses different types of entrepreneurs, including business, trading, industrial, agricultural, pure and induced entrepreneurs. It also discusses technical and non-technical entrepreneurs as well as professional entrepreneurs. The document defines an intrapreneur as an employee within a company who takes on entrepreneurial roles or projects. It contrasts entrepreneurs, who independently start ventures and bear full risk, with intrapreneurs, who work partially independently while being sponsored by their employer corporation.
The document discusses the evolution and growth of entrepreneurship in India. It describes how entrepreneurial culture existed during ancient civilizations but expanded during British rule as the East India Company established trade. After independence, the government adopted policies to promote industries and entrepreneurs like Jamsetji Tata and the Tata Group. Recent decades have seen a further boom in entrepreneurship due to economic reforms, globalization, and new programs under the Startup India initiative that provide funding, regulatory support, and procurement benefits for startups. The document also defines different types of entrepreneurs like intrapreneurs and outlines traits like resilience and innovation that lead to entrepreneurial success.
The document provides an overview of entrepreneurship and the entrepreneurial mindset and process. It discusses:
- Definitions of entrepreneurship and the entrepreneurial characteristics of passion, customer focus, tenacity despite failure, and execution intelligence.
- The entrepreneurial process, including deciding to become an entrepreneur, developing business ideas by recognizing opportunities and generating ideas, moving from an idea to a business by preparing foundations and getting financing, and managing and growing the business.
- Types of entrepreneurial opportunities like observing trends, solving problems, and finding gaps in the marketplace. Common myths about entrepreneurs are also addressed.
This document provides an overview of entrepreneurship including definitions, types of entrepreneurs, and roles of entrepreneurs. It defines entrepreneurship as exploiting business opportunities that exist within the scope of the market. The four main types of entrepreneurs discussed are innovative, imitating, fabian, and drone entrepreneurs. Entrepreneurs fulfill economic, social, and technological change roles. Later sections discuss developing an entrepreneurial mindset and how entrepreneurship can drive social and economic change.
This PPT is made in accordance to the references taken from the small business management course on the Sayloracademy.org The ppt provides a brief introduction to the small business world. Along with, it provides a overall angle to the various components included in a small business. The ppt is concise and in a well defined manner so as the reader finds it out interesting and understandable.
Enterpreneurship development by_pawan_tripathi_2014_09_14_10_41_17_775Pawan Tripathi
This document provides notes on entrepreneurship development for students. It defines key terms like entrepreneur and entrepreneurship. An entrepreneur is an individual who takes on the risk of starting a new business venture. Entrepreneurship involves identifying opportunities and combining resources to exploit them for profit. The document discusses the evolution of the concept of entrepreneur over time. It also outlines characteristics of entrepreneurs like being achievement-oriented and innovative. Risks of entrepreneurship like financial and career risks are examined. Finally, barriers to entrepreneurship like lack of skilled labor and raw materials are summarized.
This document provides an introduction to entrepreneurship. It defines entrepreneurs as individuals who manage businesses and take on the risk of starting new business ventures. Entrepreneurship is important for developing economies by providing new products/services and solving unemployment issues. It can increase income, improve standards of living, and provide tax revenue. Successful entrepreneurs display traits like initiative, problem-solving abilities, perseverance, and risk-taking. Environmental factors like policies, market conditions also influence entrepreneurship. Core competencies for entrepreneurs include decisiveness, communication skills, leadership, seeing opportunities, proactivity, and innovativeness. The document also outlines different types of entrepreneurs and career paths in entrepreneurship.
An entrepreneur is defined as an individual who takes initiative by organizing resources in innovative ways and bearing risks and uncertainty. They identify opportunities, establish visions, persuade others, gather resources, create new ventures, and adapt over time. Entrepreneurship is motivated by background factors, needs for achievement, and supportive business environments. Entrepreneurs pursue opportunities, establish visions, and gather resources to create new ventures.
The document discusses the concept and definitions of entrepreneurs and rural industries. It provides various definitions of an entrepreneur from different scholars as someone who organizes and manages a business undertaking and assumes the risk to make a profit. It also defines rural industries as any industry located in a rural area with a population of less than 20,000 people and investment of less than 3 crores in plant and machinery. The document further categorizes rural entrepreneurs into agricultural entrepreneurs, artisan entrepreneurs, merchant/trading groups, and tribal entrepreneurs based on their primary occupations and activities.
This document provides an overview of entrepreneurship, including definitions and concepts. It discusses the evolution of the term "entrepreneur" and defines an entrepreneur as someone who initiates a business for profit. It also describes different types of entrepreneurs based on factors like the type of business, economic environment, motivation, and adaptability. Additionally, it outlines the functions and competencies of successful entrepreneurs, as well as some of the prominent women entrepreneurs in India and challenges faced by women entrepreneurs.
Entrepreneur Definition,Function,Characteristics,Role of entrepreneurship in economic development,Features and Advantages of small business & setup small business
Similar to Types of Entrepreneurs and factors affecting entrepreneurial growth.pptx (20)
Expanding Access to Affordable At-Home EV Charging by Vanessa WarheitForth
Vanessa Warheit, Co-Founder of EV Charging for All, gave this presentation at the Forth Addressing The Challenges of Charging at Multi-Family Housing webinar on June 11, 2024.
Welcome to ASP Cranes, your trusted partner for crane solutions in Raipur, Chhattisgarh! With years of experience and a commitment to excellence, we offer a comprehensive range of crane services tailored to meet your lifting and material handling needs.
At ASP Cranes, we understand the importance of reliable and efficient crane operations in various industries, from construction and manufacturing to logistics and infrastructure development. That's why we strive to deliver top-notch solutions that enhance productivity, safety, and cost-effectiveness for our clients.
Our services include:
Crane Rental: Whether you need a crawler crane for heavy lifting or a hydraulic crane for versatile operations, we have a diverse fleet of well-maintained cranes available for rent. Our rental options are flexible and can be customized to suit your project requirements.
Crane Sales: Looking to invest in a crane for your business? We offer a wide selection of new and used cranes from leading manufacturers, ensuring you find the perfect equipment to match your needs and budget.
Crane Maintenance and Repair: To ensure optimal performance and safety, regular maintenance and timely repairs are essential for cranes. Our team of skilled technicians provides comprehensive maintenance and repair services to keep your equipment running smoothly and minimize downtime.
Crane Operator Training: Proper training is crucial for safe and efficient crane operation. We offer specialized training programs conducted by certified instructors to equip operators with the skills and knowledge they need to handle cranes effectively.
Custom Solutions: We understand that every project is unique, which is why we offer custom crane solutions tailored to your specific requirements. Whether you need modifications, attachments, or specialized equipment, we can design and implement solutions that meet your needs.
At ASP Cranes, customer satisfaction is our top priority. We are dedicated to delivering reliable, cost-effective, and innovative crane solutions that exceed expectations. Contact us today to learn more about our services and how we can support your project in Raipur, Chhattisgarh, and beyond. Let ASP Cranes be your trusted partner for all your crane needs!
Implementing ELDs or Electronic Logging Devices is slowly but surely becoming the norm in fleet management. Why? Well, integrating ELDs and associated connected vehicle solutions like fleet tracking devices lets businesses and their in-house fleet managers reap several benefits. Check out the post below to learn more.
What Could Be Behind Your Mercedes Sprinter's Power Loss on Uphill RoadsSprinter Gurus
Unlock the secrets behind your Mercedes Sprinter's uphill power loss with our comprehensive presentation. From fuel filter blockages to turbocharger troubles, we uncover the culprits and empower you to reclaim your vehicle's peak performance. Conquer every ascent with confidence and ensure a thrilling journey every time.
EV Charging at MFH Properties by Whitaker JamiesonForth
Whitaker Jamieson, Senior Specialist at Forth, gave this presentation at the Forth Addressing The Challenges of Charging at Multi-Family Housing webinar on June 11, 2024.
Ever been troubled by the blinking sign and didn’t know what to do?
Here’s a handy guide to dashboard symbols so that you’ll never be confused again!
Save them for later and save the trouble!
Understanding Catalytic Converter Theft:
What is a Catalytic Converter?: Learn about the function of catalytic converters in vehicles and why they are targeted by thieves.
Why are They Stolen?: Discover the valuable metals inside catalytic converters (such as platinum, palladium, and rhodium) that make them attractive to criminals.
Steps to Prevent Catalytic Converter Theft:
Parking Strategies: Tips on where and how to park your vehicle to reduce the risk of theft, such as parking in well-lit areas or secure garages.
Protective Devices: Overview of various anti-theft devices available, including catalytic converter locks, shields, and alarms.
Etching and Marking: The benefits of etching your vehicle’s VIN on the catalytic converter or using a catalytic converter marking kit to make it traceable and less appealing to thieves.
Surveillance and Monitoring: Recommendations for using security cameras and motion-sensor lights to deter thieves.
Statistics and Insights:
Theft Rates by Borough: Analysis of data to determine which borough in NYC experiences the highest rate of catalytic converter thefts.
Recent Trends: Current trends and patterns in catalytic converter thefts to help you stay aware of emerging hotspots and tactics used by thieves.
Benefits of This Presentation:
Awareness: Increase your awareness about catalytic converter theft and its impact on vehicle owners.
Practical Tips: Gain actionable insights and tips to effectively prevent catalytic converter theft.
Local Insights: Understand the specific risks in different NYC boroughs, helping you take targeted preventive measures.
This presentation aims to equip you with the knowledge and tools needed to protect your vehicle from catalytic converter theft, ensuring you are prepared and proactive in safeguarding your property.
Types of Entrepreneurs and factors affecting entrepreneurial growth.pptx
1. Muhammed Jazim T
K 55
Navaneeth S Hari 56
Naveen U S 57
Navneeth Ranjith 58
Nazir Ahmed 59
Nihad 60
2.
3. WHAT IS ENTREPRENEURSHIP ?
Entrepreneurship refers to the process of creating a new enterprise and bearing any of its risks,
with the view of making a profit. It generates industrial growth, regional growth, and employment
generation. Thus, entrepreneurship is a key to socio-economic transformation of a region
4. WHO IS AN ENTREPRENEUR ?
An entrepreneur is a starter. An entrepreneur is an initiator, a
challenger and a driver. Someone that creates something new,
either an initiative, a business or a company. He or she is the
beginning (and sometimes the end) of a venture, project or
activity. The entrepreneur might not be the ideator, but he or she
is definitely the one that decides to make that idea a reality.
5. HISTORICAL BACKGROUND
• Marco Polo is considered as one of the first entrepreneurs in human history. During the 17th
century, an entrepreneur was the individual who entered into a contract with the Government
for the supply of agreed services or goods under fixed terms and prices. John Law of France was
one of the famous entrepreneurs of his time who founded The Royal Bank of France Since the
18th century, with rapid industrialization, an entrepreneur refers to someone who seeks capital
to fund his/her innovative pursuits. Some famous modern entrepreneurs include JP Morgan, Bill
Gates, Jeff Bezos, Mark Zuckerberg, Shiv Nadar, Azim Premji etc.
6. TYPES OF ENTREPRENEURS
• According to Organizations
• According to type of business
• According to the entrepreneur and motivation
• According to the growth of entrepreneurs
• According to entrepreneurial activity
• According to functional characteristics
• According to Stages of development
• According to capital ownership
• According to Scale of enterprise
• According to entrepreneurial business
7. ACCORDING TO ORGANIZATION
1.Private entrepreneurship
Companies are owned and controlled by a private group of individuals or even a single entity run
independently of the government. Private entrepreneurship is the lightest and simplest company form.
It is also easy, fast and inexpensive to set up. An example of private enterprise is Raymond Ltd, Trident
Ltd, etc.
2.Public entrepreneurship
Here the companies will be owned entirely or partially by the government of a country. It is a process
of introducing innovation, generation and implementation of new ideas, in the public sector. Examples
are Hindustan Machine Tools Ltd, Bharat Petroleum Corporation Limited
8. 3.Commercial entrepreneurs
They focus mainly on profits and standardizations and not on the resources or society issues. Their
main priority is the creation of economic value. Examples: Any organization that works for profit like
Tiktok, Facebook, Snapchat and not for society issues
4.Social entrepreneurship
They are people in business who target the development of products and services, so that social
requirements and problems can be solved. Their main motive of entrepreneurs in this case is
improving the world. A good example of social entrepreneurship is microfinance institutions like ESAF
Microfinance and Investments (P) Ltd
9. ACCORDING TO TYPE OF BUSINESS
1.Corporate entrepreneurs
A corporate entrepreneur is a person who demonstrates his innovative skill in organizing and
managing corporate undertakings. That is in simple words a corporate entrepreneur is an individual
who plans, develops and manages a corporate body. Examples are Tata Consultancy Services, Reliance
Industries Limited etc.
2.Trading entrepreneurs
All the activities related to the trading of an organization are done through such types of
entrepreneurs. It serves as middlemen for dealers, wholesalers, manufacturers and the customers. A
good example is SITCO India
10. 3.Industrial entrepreneurs
They are essentially manufacturers, who identify the potential needs of customers and make a product or
service to meet the marketing needs. Examples are Hindustan Unilever, Cipla etc.
4.Agricultural entrepreneurs
Agricultural entrepreneurs are those entrepreneurs who undertake agricultural activities as raising and
marketing of crops, fertilizers and other inputs of agriculture. They are motivated to raise agriculture
through mechanization, irrigation and application of technologies. One such example of agricultural
enterprise is UPL Ltd.
5.Business entrepreneurs
Business entrepreneurs are individuals who conceive an idea for a new product or service and-then creates
a business to materialize their idea into reality. They may set up a big establishment or even a small
business unit. A good example is Tally solutions.
11. ACCORDING TO THE ENTREPRENEUR AND
MOTIVATION
1.Pure Entrepreneur
Individual who is motivated by psychological and economical reward. He undertakes
entrepreneurial activity for his personal satisfaction in work, ego or status. Dhirubai Ambani,
Jamshedji Tata, T.V. Sundaram Iyengar, Birla, Narayana Murthy, and Azim Premji are few examples
of pure entrepreneurship.
2.Induced Entrepreneur
This entrepreneur is one who is induced to take up an entrepreneurial task due to the policy
measures of the government that provides-assistance, incentives, concessions and necessary
overhead facilities to start a venture. Most of the entrepreneurs belong to this category and enter
business due to financial, technical and several other facilities provided to them by the state
agencies to promote entrepreneurship
12. 3.Motivated Entrepreneur
He comes into being because of the possibility of making and marketing some new products for the use of
consumers. If the product is developed to a saleable stage, the entrepreneur is further rewarded in terms of
profit. One such example is P C Mustafa – an entrepreneur who failed in class 6 built a ₹100 crore company
“iD Fresh Food”.
4.Spontaneous Entrepreneur
They start their business out of their natural talents. They are persons with initiative, boldness and
confidence in their ability which motivate them to undertake entrepreneurial activity. They have strong
conviction and confidence in their ability. A good example would be Sabyasachi Mukherjee who is an
Indian fashion designer, jewelry designer, retailer and couturier from Kolkata, India
13. ACCORDING TO THE GROWTH OF
ENTREPRENEURS
1.Growth Entrepreneur
Someone who is interested in growing a company quickly. Sometimes growth entrepreneurs are
referred to as gazelles as they are distinguished by their ability to double the size of their company
either by number of employees or in gross profit every two to four years. Ritesh Agarwal is the
founder of OYO rooms. He felt that the majority of the hotels in India couldn’t satisfy the basic
needs of a traveler on budget. Thus, he started Oravel Stays, his first venture in 2012.He was one of
the winners of the 2013 Thiel Fellowship program, receiving a grant of $100,000.
2.Super-Growth Entrepreneur
Super growth entrepreneurs are those who have shown enormous growth of performance in their
venture. The growth performance is identified by the liquidity of funds, profitability and gearing.
Example: Ola
14. 3.Aspiring entrepreneurs
The person who focuses on the hope and dream of entrepreneurship and to be their own bosses, but
they have not yet made the leap from their current employment into the uncertainty of a start-up.
4.Lifestyle entrepreneurs
A lifestyle entrepreneur is a person who creates a business with the purpose of altering their personal
lifestyle. A 13 lifestyle entrepreneur focuses more on the life rewards rather than the monetary rewards.
It provided to those that have a true passion for their work and enjoy what they're doing. Example:
Kylie Kristen Jenner (born August 10, 1997) is an American media personality, socialite, model, and
businesswoman.
15. ACCORDING TO ENTREPRENEURIAL ACTIVITY
1.Novice
A novice is someone who has started his/her first entrepreneurial venture. An example of a novice
entrepreneur is Sreelakshmi Suresh. She is the Founder of eDesign, TinyLogo. Sreelakshmi is often
regarded as the Youngest CEO and Youngest Web Designer in the world. She also has received
many awards as recognition for her talent. Her companies provide services in web design, SEO,
and other fields to many popular brands.
2.Serial Entrepreneur
A serial entrepreneur is someone who is devoted to one venture at a time but ultimately starts
many. He repeatedly starts businesses and grows them to a sustainable size and then sells them
off Richard Branson is the founder of Virgin Group, which today controls more than 400 companies
in various fields. He is a serial entrepreneur, investor, and author.
16. ACCORDING TO FUNCTIONAL
CHARACTERISTICS
1.Innovative Entrepreneur
person who brings new technology, process or knowledge into life. He dedicates his efforts into
making "new things" which he thinks may be of a great use to society. An Innovative Entrepreneur is a
person who creates things of value and thus is responsible for creating wealth for himself and others.
Example: Michael Saul Dell (born February 23, 1965) is an American billionaire businessman and
philanthropist. He is the founder, chairman and CEO of Dell Technologies
2.Fabian Entrepreneur
Entrepreneurs have neither the will to introduce new changes nor desire to adopt new methods
innovated by the most enterprising entrepreneurs. Such entrepreneurs are shy and lazy. And the
individuals who do not show initiative in visualizing and implementing new ideas and innovations.
Example: Kodak, a company that happened to be the market leaders in producing analog cameras but
they did not realize the change and the introduction of the Digicam
17. ACCORDING TO STAGES OF DEVELOPMENT
1.First-generation Entrepreneurs
They are from non-entrepreneurial backgrounds who establish their enterprise by embracing
innovative ideas. The entrepreneur is the first in the family to establish an enterprise on his/her own.
Those with a business background but establishing a completely unrelated business also come under
this category. Example: Dhirubhai Ambani, Ghanshyam Das Birla, Ardeshir Godrej.
2.Second Generation Entrepreneur
They are the ones who inherit family business. However, in order to stay competitive, they adapt and
improvise to the changing market needs. Example: Mukesh Ambani. He inherited part of his family
business.
18. 3.Classical Entrepreneurs
They give importance to business survival rather than growth. They are called stereotype entrepreneurs
as they seek consistent returns with or without growth. Some classic entrepreneurs are micropreneurs
who start small and plan to stay small. Miho Inagi is a good example of a micropreneur. Her passion for
bagels led the young office assistant to quit her job and pursue her dream of one day opening her own
bagel shop in Tokyo. Today Maruichi Bagel is one of the successful bakeries in Tokyo.
4.Inherited Entrepreneurs
They also inherit family business alongside experience to run the family business. Unlike second
generation entrepreneurs, they do not prefer much diversification or new approach to their family
business. Example: Anil Ambani.
19. ACCORDING TO CAPITAL OWNERSHIP
1.Private entrepreneur
It is an entrepreneurial venture established by an individual or a group of individuals with the intent of
making profits. The responsibilities of arranging finance and bearing the risks reside with the
members. Example: Disney. The Walt Disney Company, commonly known as Disney, was originally
founded on October 16, 1923, by brothers Walt and Roy Oliver Disney. Today it is one of the biggest
corporations in the world.
2. State Entrepreneur
Entrepreneurial venture handled by the state or government itself. Example: BSNL.
20. ACCORDING TO SCALE OF ENTERPRISE
1.Small Scale Entrepreneurs
They are in the entry level with limited funding and offer one or two products or services. This
classification is especially popular in underdeveloped countries. They don’t have necessary talents,
resources and funds to initiate large scale production and introduce revolutionary technological
changes. Total turnover will be less than Rupees 1 crore. Example: Paper Plant.
2.Medium Scale Entrepreneurs
They are around for some time with a market presence. They have somewhat defined offerings.
Example: Medium Scale Restaurant
21. 3.Large Scale Entrepreneurs
They have steady flow of funds and have diversified product lines and service offerings. They are well
established and look for a high market share. In developed countries most entrepreneurs deal with
large scale enterprises. They possess the financial and necessary enterprise to initiate and introduce
new technical changes. The total turnover of this type of enterprise is more than Rupees 1 crore. The
result is, the developed countries are able to sustain and develop a high level of technical progress.
Example: Johnson and Johnson.
22. ACCORDING TO ENTREPRENEURIAL BUSINESS
1.Manufacturing
An entrepreneur who runs such a business actually produces products that can be sold using
resources and supplies. For example, apparel and other textile products, chemical and related
products, electronics and other electrical equipment, fabricated metal products, industrial and other
electrical equipment, fabricated metal products, industrial machinery and equipment, printing and
publishing, rubber and miscellaneous products, stone, clay etc. Example: Mysore Deep Perfumery.
2.Wholesaling
An entrepreneur with such a business sells products to a middle man. Example: Sayed Home Industries
Private Limited. Example: Luxmi Group. During 1917 tea estates in India were predominantly British-
owned. Seeing such a miserable condition of the country, where one had to plead for their own rights,
P C Chatterjee, who was part of the satyagraha movement decided to expand and diversify Luxmi Tea
as a part of the all-India movement for self reliance
23. 3.Retailer
An entrepreneur who sells products directly to the people who use or consume it. Example: Ralph Lauren.
Founded in 1967, the American clothing retailer Ralph Lauren Corporation now ranks 7th on BizVibe’s list
of the biggest clothing brands in the world.
4.Service
An entrepreneur in this business sells service rather than products. Example: Agarwal Packers and Movers
is one of the largest Logistics companies in India, evolved from a small-scale business of Agarwal
Household Carrier established in 1987 and functioned particularly for the shifting of household goods.
25. ECONOMIC FACTORS
1.Capital
•Capital is one of the most important prerequisites to establish an enterprise.
•Availability of capital facilities for the entrepreneurs to bring together land of the machine of
another to combine them to produce goods.
•Capital is therefore regarded as lubricant to the process of production.
2.Labour
•The quantity rather than quantity of labour is another factor which influences the emergence of
entrepreneurship.
•The availability of cheap labour positivity affect entrepreneurship •But entrepreneurship is increased
if there is a mobile and flexible labor force.
26. 3. Raw Material
•Entrepreneurship is encouraged only if there is an adequate supply of material and knowledge.
•Quality of products depends on the quality of Raw material used •Easy availability of materials attracts more
individuals towards entrepreneurship.
•To a modern enterprise requires technical know how far innovation
4.Market
•The fact remains that the potential of the market constitutes the major determinant of probable rewards
from entrepreneurial function.
•The size and composition of the market both influence entrepreneurship in their own ways.
5.Infrastructure
•Entrepreneurship development requires certain basic infrastructure like power, transportation,
communication and technical information.
•Land and factory sheds at affordable rates, adequate supply of power, water, coal and other sources of
energy, transport facilities and other facilities should be provided.
27. PSYCHOLOGICAL FACTORS
1.Need of Achievement
•Need for achievement is the desire to obtain excellent results by setting high standards and
striving to accomplish them. It is a consistent concern with doing things better.
•If the average level of needed achievement in a society is relatively high, one would expect a
relatively high amount of entrepreneur development in the society.
•There is also some mechanical motivation trading program.
2.Withdrawal of Status Respect
•When members of a given social group perceive that they are not respected by the dominant
group of society, this triggers a personality change that encourages entrepreneurial behaviour.
•Everett Hagen attributed the withdrawal of status respect of a group to the genesis of
entrepreneurship.
28. 3.Motives
•Other psychological theories of entrepreneurship stress the motives or goals of the entrepreneurs.
Besides wealth, entrepreneurs seek power, prestige, security and service to society.
•Non-monetary aspects such as independence, self-esteem, power etc. also triggers entrepreneurship.
4.Willingness to take risks
•Researchers have come to the conclusion that entrepreneurs who take moderate risk earn higher
returns on their assets than those who take no risks.
29. SOCIAL FACTORS
1.Social Status
Every human being aspires for a high social status and once he achieves a reasonable level, his
aspirations and desires for its start multiplied, people work hard to maintain their status as it also
contributes to their entrepreneurial growth.
2. Education
•Education is the best means of developing from knowledge learning to skill improvement,
entrepreneurship education, general ability development and improvement of professional ability.
•Education provides entrepreneurs with cognitive skills to better evaluate and exploit
entrepreneurial opportunities, increases the level of self-confidence and reduces perceived risk.
•Education provides the individual to identify problems and find solutions that create value. It may
be expected that a high level of education may enable the entrepreneurs to exercise their
entrepreneurial talent more effectively and efficiently.
30. 3.Attitude of Society
• Certain societies encourage innovations and novelties and thus approve entrepreneurs’ actions and
rewards like profits
4. Occupation
• Those born in a business or entrepreneur-oriented family have the advantage of learning the
business by interaction and contacts with parents, employees, and visitors in family shops, offices and
homes.
5.Social Responsibility
•The entrepreneur is an important part of the social system. The interdependence of society and
business is increasing, with rising standards of living in society. It can improve the financial stability of
the entire society.
6.Religion and Caste Factor
Certain caste systems encourage entrepreneurship. Religious communities like Parsees, Marwaris,
Siddhas etc. seem to have an affinity for entrepreneurial activities.
31. CONCLUSION
From the above discussion, it can be seen that there is much more to entrepreneurship than merely
starting a business. Entrepreneurship can come in many forms, with each having its own rhyme and
reason. Entrepreneur is developed by several factors, both internal and external, and the final outcome
varies across several of these factors. However, we must understand that entrepreneurs are driven
individuals who can and will continue to shape the growth of society and economy.