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MEANING OF ENTREPRENEURSHIP
The word entrepreneurship originates from the French word entrependre ,
which means “to undertake”.
Entrepreneurship is the key to innovation, productivity and effective
competition.
When a person realizes his ability or capacity and makes its practical use
and establishes new business unit this activity is known as
entrepreneurship.
CONCEPT
S OF
Entrepreneurship is an innovative function. It is a leadership rather than an
ENTREPR
ownership. The process of Innovation may be in the form of
ENEUERS
Introduction of a New Product.
Use of a New Method of production.
HIP of New Source of supplying Raw materials.
Opening of a New Market.
The conquest
Traditional Concepts Modern concepts
The ability to establish
Ability and aptitude to
new enterprise, and
bear various types of
carrying out various new
business related risk and
improvements in the
facing of uncertainties
enterprise.
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RISK BEARING CAPACITY
ORGANIZATION BUILDING ABILITY
MANAGERIAL AND LEADERSHIP SKILLS
INNOVATIVE FUNCTION
HIGH LEVEL NEED FOR ACHIEVEMENT
SEARCH FOR PROFITABLE OPPORTUNITIES
WEALTH CREATION
CHANGE AGENT
PROCESS OF CREATING NEW VALUES
SUBJECT OR DISCIPLINE
DEFINITION OF ENTREPRENEURSHIP
The definition of entrepreneurship may be classified
in-
Establishment of new enterprises based
Function based
Combination based
Decision making based
Innovation based
COMPONENTS OF ELEMENTS OF ENTREPRENEURSHIP
Entrepreneur
Pursuit of Opportunities
Innovation
Organization creation
Creating values
Profit or Non- Profit
Growth
Uniqueness
Process
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CHARACTERISTICS OF
ENTREPRENEURSHIP:
o Innovating
o Risk- bearing capacity
o Creative decision
o Creating and managing resources
o Managerial skills & leadership
o Gap filling function
o Business oriented tendency
o Economic activity
o Producing result
o Life styles
CONCEPTS OF AN ENTREPRENEURSHIP
It refers to a Person
It refers to a Creator
It refers to a Organizer
It refers to a Decision maker
It refers to a Initiator
It refers to a Leader
It refers to a Motivator
It refers to a Risk-Taker
Who Is Entrepreneur?
An entrepreneur is an individual who starts a business venture and is
responsible for its development.
An individual who bears the risk of operating a business in the face of
uncertainty.
One who organizes, manage and assumes the risk of a business or
enterprise.
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Characteri
stics
Mental ability of
Entrepren
Business Secrecy
Clear objectives
Human relations
eurship
Communication ability
Technical knowledge
Importance of Entrepreneurship:
Reduces Poverty level
Increases Employment
Fulfills the Demand of people
Helps to develop Economic Condition of a country
Causes of failure of the Entrepreneurship:
o Lack of visible concept
o Lack of market knowledge
o Lack of technical skills
o Lack of seed capital
o Lack of business knowledge
o Lack of motivation
o Time pressure & distraction
o Legal constraints & regulations
o Monopoly protectionism
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SOME OF THE REAL ENTREPRENEUR
Azim
Premji
Dhirubh
ai
Ambani
Sunil
Mittal
Steve
JobsTYPES OF
ENTREPRENEURSHIP
On the basis of Nature Innovating, Imitative, Fabian, Drone Page 6 of 9
On Social basis Exploitative, Ideal
On the basis of
Sole, Group, Copreneurs, Institutional
number
Other:-
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Social
Women
Agripreneurship
Technopreneurship
Netpreneurship
Portfoliopreneurship
Intrapreneurship
ROLE & IMPORTANCE OF
ENTREPRENEURSHIP
Pivot of economic development
Basis of business
Organizer of society’s productive
resources
Contribution in production of new
production techniques
Helpful in capital formation
Development of new market
Establishment of new industrial
enterprises
Contribution in development & expansion
of existing enterprises
Help in bringing changes in Social
framework
Help in removing Regional Disparities
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Encouragement to investigation &
research
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