Scribd
Upload
134 views10 pages

Entrepreneurship Development Paper-GE - 202 Sem Ii - Bba: Unit 1 - Introduction

This document provides an introduction to entrepreneurship development. It defines entrepreneurship as developing, organizing and running a business to make a profit while accepting the associated risks and uncertainties. Entrepreneurs bring new ideas to market through innovation and replacing old ideas. They play a key role in economies by anticipating needs. The document discusses different types of entrepreneurs based on the type of business, use of technology, ownership, gender, and size of enterprise. It also outlines important characteristics of entrepreneurship like hard work, business acumen, prudence, and risk-taking. The importance of entrepreneurship is described as creating employment, driving innovation, developing communities and societies, improving standards of living, and supporting research. Finally, the document lists

Uploaded by

Utkarsh Prasad
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
134 views10 pages

Entrepreneurship Development Paper-GE - 202 Sem Ii - Bba: Unit 1 - Introduction

This document provides an introduction to entrepreneurship development. It defines entrepreneurship as developing, organizing and running a business to make a profit while accepting the associated risks and uncertainties. Entrepreneurs bring new ideas to market through innovation and replacing old ideas. They play a key role in economies by anticipating needs. The document discusses different types of entrepreneurs based on the type of business, use of technology, ownership, gender, and size of enterprise. It also outlines important characteristics of entrepreneurship like hard work, business acumen, prudence, and risk-taking. The importance of entrepreneurship is described as creating employment, driving innovation, developing communities and societies, improving standards of living, and supporting research. Finally, the document lists

Uploaded by

Utkarsh Prasad
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
You are on page 1/ 10

ENTREPRENEURSHIP DEVELOPMENT

Paper- GE- 202


SEM II- BBA
Unit 1- Introduction

Prof. (Dr.) Jui Banerjee


Department of BBA
St. Xavier’s College, Ranchi
1
ENTREPRENEURSHIP - MEANING
• Entrepreneurship is the ability and readiness to develop, organize and
run a business enterprise, along with any of its uncertainties in order
to make a profit. The most prominent example of entrepreneurship is
the starting of new businesses.
• The entrepreneur is defined as someone who has the ability and
desire to establish, administer and succeed in a startup venture along
with risk entitled to it, to make profits.
• The entrepreneurs are often known as a source of new ideas or
innovators, and bring new ideas in the market by replacing old with a
new invention.
• Entrepreneurs play a key role in any economy, using the skills and
initiative necessary to anticipate needs and bringing good new ideas
to market. Entrepreneurship that proves to be successful in taking on
the risks of creating a startup is rewarded with profits, fame, and 2
continued growth opportunities.
ENTREPRENEURSHIP - MEANING

Risk Bearer

Organizers Innovators

3
TYPES OF ENTREPRENEURS
• Trading Entrepreneurs
Based on Type • Manufacturing Entrepreneurs
of Business
• Agricultural Entrepreneurs

Based on the • Technical Entrepreneurs


use of
• Non- technical Entrepreneurs
Technology

• Private Entrepreneurs
Based on • State Entrepreneurs
Ownership
• Joint Entrepreneurs 4
TYPES OF ENTREPRENEURS

• Men Entrepreneur
Based on Gender • Woman Entrepreneur

• Small-scale Entrepreneur
Based on size of • Medium Scale Entrepreneur
Enterprise • Large- scale Entrepreneur

• Innovative Entrepreneur
Based on • Imitative Entrepreneur
Clarence Danhof • Fabian Entrepreneur 5
• Drone Entrepreneur
CHARACTERISTICS OF
ENTREPRENEURSHIP
Hard Work

Business Acumen

Prudence

Achievement Motivation

Self- reliance and Independence

Highly Optimistic

Keen Foresight

Planning and Organising Ability

Innovativeness

Risk taking

Seceracy maintenance 6
IMPORTANCE OF ENTREPRENEUR
• Creation of Employment- Entrepreneurship generates
employment. It provides an entry-level job, required for gaining
experience and training for unskilled workers.
• Innovation- It is the hub of innovation that provides new
product ventures, market, technology and quality of goods, etc.,
and increase the standard of living of people.
• Impact on Society and Community Development- A society
becomes greater if the employment base is large and diversified.
It brings about changes in society and promotes facilities like
higher expenditure on education, better sanitation, fewer slums,
a higher level of homeownership. Therefore, entrepreneurship
assists the organisation towards a more stable and high quality
of community life. 7
IMPORTANCE OF ENTREPRENEUR
• Increase Standard of Living- Entrepreneurship helps to
improve the standard of living of a person by increasing the
income. The standard of living means, increase in the
consumption of various goods and services by a household for
a particular period.
• Supports research and development- New products and
services need to be researched and tested before launching in
the market. Therefore, an entrepreneur also dispenses finance
for research and development with research institutions and
universities. This promotes research, general construction, and
development in the economy.

8
ENTREPRENEURS VS
PROFESSIONAL MANAGERS

9
THEORIES OF
ENTREPRENEURSHIP
X- Efficiency Theory

Innovation Theory

Need for Achievement Theory

Max Weber’s Theory of Entrepreneurial Growth

Economic Theory

Need Hierarchy Theory 10

You might also like