Entrepreneur,

Entrepreneurship &
Intrapreneur

Definition:1. Oxford English dictionary defines

entrepreneur as One who undertakes an
enterprise, especially contractor acting as
intermediary between capital and labor.
2. Richard Cantillon was the first to introduce
the term entrepreneur. He defines the
agent who buys means of production at
certain prices in order to combine them into
product that he is going to sell at prices that at
uncertain at the moment at which he commits
himself to his costs.

3. J.B.Say an Entrepreneur is the economic agent who unites

all the means of production, the labor force of the one and the
capital or land of the others and who finds in the value of the
products which result from their employment , the
reconstitution of the entire capital that he utilizes and the
value of the wages , the interest and the rent which he pays as
well as the profit belonging to himself.
4. Evans entrepreneurs are persons who initiate, organize,
manage and control the affairs of a business unit that
combines the factors of production to supply goods &
services whether business pertains to agriculture ,industry
trade or profession

Characteristics of an
entrepreneur

Characteristics of an IDEAL
entrepreneur

Entrepreneurship stimulants
1. Focus on capital formation.
2. Transformation of scientific
and technical development
3. Supportive government
programmes.
4. Availability of required
training and inputs.
5. Collaborative relationship
between business and
resources.
6. Environment conducive for
innovation.

Summary of Entrepreneur

Entrepreneurship

ENTERPRENEURIAL SKILL

DEFINITIONS OF
ENTREPRENEURSHIP
According to A.H Cole, Entrepreneurship is the purposeful
activity of an individual or group of associated individuals,
undertaken to initiate, maintain or aggrandize profit by
production or distribution of economic goods or services.
Benjamin Higgins has defined entrepreneurship as
Entrepreneurship means the function of foreseeing investment
and production opportunity, organizing and enterprise to
undertake a new selecting top managers for the day to day of
an operation of an enterprise.
According to B. C. Tandon , Entrepreneurship means the
function of creating something new, organizing and coordination and undertaking risk and handling economic
uncertainty

Distinguish :
ENTREPRENEUR

Person
Organizer
Visualize
Creator
Initiator
Innovator
Technician
Decision-maker
Leader
Planner
Motivator
Risk-taken
Programmer
Communicator
Administrator

ENTREPRENEURSHIP

Process
Organization
Vision
Creation
Initiative
Innovation
Technology
Decision
Leadership
Planning
Motivation
Risk-taking
Action
Communication
Administration

CHARACTERISTICS OF
ENTREPRENEURSHIP

FUNCTIONS AND SCOPE OF

ENTREPRENEURSHIP

FACTORS AFFECTING
ENTREPRENEURIAL
GROWTH

SOCIAL ENTREPRENEURSHIP
1. Social entrepreneurs are individuals with innovative
solutions to societys most pressing social problems.
2. They are ambitious and persistent, tackling major social
issues and offering new ideas for wide-scale change .
3. A social entrepreneur recognizes a social problem and uses
entrepreneurial principles to organize, create, and manage a
venture to make social change.
4. Unlike business entrepreneurs they dont measures
performance in profit and returns, but assess success by the
impact they have on society and often work through
nonprofits and citizen groups.
5. They call themselves social entrepreneur, and their business
is to make the work a better place.

Intrapreneur

Definition & meaning

An intrapreneur is
defined as any of the
dreamer who do those
who take hand on
responsibility of creating
innovation of any kind
within the organisation.
The intrapreneur may be
creator or inventor but
he is always a dreamer
who finds out how to
turn an idea into a
profitable reality.

Characteristics of
intrapreneurial environment

Intrapreneur Qualities

Intrapreneur Characteristics

The intrapreneurs Ten

Commandments
1.
2.
3.
4.

Do any job needed to make your project work.

Find people to help you.
Honour your sponsor.
Be true to tour goals, but be realistic about the ways to
achieve them
5. Remember it is easier to ask for forgiveness than for
permission.
6. Work secretly as long as you can
7. Follow your intuition about the people you choose & work
only with the best.
8. Come to work each day willing to be fined.
9. Prevent any orders aimed to stopping your dreams.
10. Never bet on a race unless you are running in it.

Classification of
intrapreneurs

Some companies started by

intrepreneurs.
1.
2.
3.
4.

Google
Yahoo
You tube
facebook

Theories of entrepreneurship

Theories of entrepreneurship

The Economic TheoryB.C.Tandon

a)
b)
c)
d)
e)
f)
g)

He describes the Functions of an entrepreneur in a developing economy in

the context of the environmental forces.i.e economic, rural ,political and
culture. Accordingly the entrepreneur must posses:
Ability of organization & administration.
Technological knowledge , alertness to know opportunities ,willingness to
accept change & ability to initiate and
Capacity to assume risk and self confidence
Tact ,patience and power of observation & ability of discrimination.
Perseverance to overcome obstruction and fear.
Capacity to pick and choose associates and subordinates and delegate
authority to inspire loyalty.
Role like that of a strike who keeps the fire burning..

Leibensteins X efficiency
theory
X-efficiency is the degree of ineffiency
in the use of resources in the wrong
way, within the firm for productive
potential.
The entrepreneur has to complete
the production efficiently with proper
inputs and improve flow of
information in market by gap filling in
the economy

Sociological Theory- Peter

Marris
To assemble or reassemble from
what is available ,very concrete kind
of imagination ,to see what other
have missed ,sensitivity to business
and social environment ,zest in
industrial development and
entrepreneurial courage are the
factors that make an entrepreneur.

Psychological Theory
-Schumpeter
He believes that entrepreneurs are motivated by will
to power, will to find a private kingdom or will to
conquer.
The main characteristics are:
a) An institutional capacity to see things in a way which
afterward proves correct,
b) Energy of will and mind to overcome fixed habits of
thought and
c) The capacity to withstand social opposition.

Harvard school theory

Cole
Entrepreneurship comprises any
purposeful activity that initiate ,
maintain or develop a profit
oriented business ,in interaction with
internal ,economic ,political and
social circumstances of business.
Entrepreneurs operate under fairly
uncertain circumstances.

Theory of High Achievement

Mc Clelland
Mc Clelland identified two
characteristics of entrepreneurship for
decision making under uncertainty .
He stressed the need of achievement
and the tendency to strive for success.
People with high (N-Ach) are not
influenced by profits as it is just a
measure of success and competency.

Theory of Profit- Knight

Knight identifies the entrepreneur as
a recipient of pure profit.
Uncertainty can be identified by
priority reasoning or statistical
inference.

Peter Druckers theory

Entrepreneurs need to
search purposefully for
the sources of
innovation ,the changes
and their symptoms that
indicate opportunities
for successful
innovation and they
need to know and apply
the principles of
successful innovations.

Hagen views on
entrepreneurship
creative innovation is the fundamental feature of economic
growth. An entrepreneur is described as a creative problem
solver interested in things that are practical. While facing a
problem he feels a sense of increased pleasure and tolerates
disorder without disorders.
Innovation requires creativity and individuals who are
creativity can only bring about economic growth.
the withdrawal of status respect
Four different types of personalities would emerge .t
they are:

Four different types of personalities

Myths of entrepreneurship
1. Entrepreneur s are born not.
2. They are academic and social misfits
3. They fit an ideal profile
4. All you need is money and luck to be an entrepreneur
5. A great idea is only ingredient in a recipe for success.
6. My best friend will be a great business partner.
7. Having a boss is a great fun.
8. I can make lots of money.
9. Ill definitely become successful
10.Life must be much simpler if I work for myself.

Success steps

Thank you