Management and Entrepreneurship for IT Industry

1. Module -3
Entrepreneurship

2. Concepts of Entrepreneurship
• Entrepreneur is a person who creates an
enterprise the process of creation.
• The word entrepreneur is derived from French
word ‘Entreprende’ which means ‘undertake’.
• Various definitions of an entrepreneur:
• 1)An individual who bears the risk of
operating a business in the stage of
uncertainty about future conditions.

3. 2) HeShe is one who innovates and introduces
something new in the economy
3)HeShe searches for change, responds to it
and exploits opportunity.
4)Innovation is the specific tool of an
entrepreneur.
5)Heshe is a critical factor in the economic
development and an integral part of economic
transformation.

4. Characterstics of an entrepreneur
1)Creativity 9)Risk taking and decision
2)Innovation making ability
3)Dynamism 10)Commitment
4)Leadership
5)Team building
6)Motivation
7)Problem solving
8)Goal orientation

5. Classification of entrepreneur
1)Functional characterstics
-Innovation
-Immitative or adaptive
-Fabian entrepreneur
-Drone entrepreneur
2)Developmental angle
-manager
-Satellite
-local trading

6. 3)Entrepreneural business
-Manufacturing
-Wholesaling
-Retailing
-Service
4)Nine personality types of entrepreneur
-Improve
-Adviser

7. -supervisor
-Artist
-Visionary
-Analyst
-Firewall
-Hero
-Healer

8. Types of Entrepreneur
1)According to Business
-Business
-Trading
-Industrial
Large, medium, small, tiny
-Corporate
-Agriculture
Plantation, Horticulture, Dairy, Forestry

9. -Retail
-Service
2)According to use of technology
-Technical entrepreneur
-Non-technical entrepreneur
-Professional
-High-technic
-Low-technic

10. 3)According to Motivation
-Pure entrepreneur
-Induced
-Motivated
-Spontaneous
4)According to growth
-growth
-super growth

11. 4)According to stages of development
-First generation
-Modern
-Classical
5)According to area
-Urban
-Rural

12. 6)According to gender
-Men
-Women
young, old, middle
7)According sale of operation
-Large scale
-small scale

13. 8)Others or unclassified
-Professional
-modern
-Traditional
-Inherited
-Forced
-International
-National

14. • Barriers to Entrepreneurship
-Lack of biable concept
-Lack of market knowledge
-Lack of technical skills
-Lack of seed capital
-Lack of business know how
-Lack of motivation
-Lack of stigma

15. -Time presence and dustraction
-Legal constraints and regulations
-Monopoly and protection
-Inhibitions due to patents
• Development of etrepreneurship
-Government and non-government support
bodies
-Ineubation facilities

16. -educational programme
-Entrepreneurship network
• Steps in entrepreneural process
-Genesis of business idea
-Conduct priliminary feasibility
i. Market and market related issues
ii.Compitative advantages
iii.Value creation & realisation issues
iv.overall potential

17. -Detailed feasibility analysis
i.product feasibility
ii.industrialmarket feasibility
iii.organisational feasibility
-Fanancial feasibility
-Writing a busiess
-Launch the venture

18. Roles of entrepreneur in economic
development
-Create employment opportunities
-Inspire other toward s entrepreneurship
-Create knowledge spill over
-Augment no. of enterprises
-Provide diversity infirms