U18OE 803C ENTREPRENEURSHIP

DEVELOPMENT
Classroom Discussion Topic
W1 – L3-CDT3
Topic: Characteristics of an
entrepreneur
B.RESHMA
ASSIST.PROF
Dept of EEE
Kakatiya Institute of Technology and Science, Warangal, TS, India
 Essential parts of a video lecture
1. Title slide with course number, course name, SLT/CDT, Topic name
2. Lecture Outcomes
3. Slides on lecture content
4. Reflection spots
5. Followed by slides on lecture content
6. Summary
7. Lecture outcomes revisited
8. Lecture Level practice Problems (LLPs)
9. Further Reading

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 Lecture Outcomes (LOs)

After completion of this lecture, students will be able to…

LO1. Understand the various characteristics of entrepreneur
LO2. Understand the role of entrepreneur in development of the nation

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 Roles of an Entrepreneur:

Entrepreneurs fulfill the following three dominant

roles:
• Economic Change
• Social Change
• Technological Change
Functions of an Entrepreneur
• Risk Absorption
• Formulate Strategic Business Decisions
• Execute Managerial Functions
• Adopt Innovation Function
Characteristics of Entrepreneur
An entrepreneur must build a team,
keep it motivated, and provide an
Facilitating Character environment for individual growth
and career development

Entrepreneurs must have belief in

Self-Confidence
themselves and the ability to achieve
their oils.

Work with Vision and An entrepreneur must be committed

to the project with a time horizon of
Mission five to seven years. No ninety day
wonders are allowed.

Success of an entrepreneur demands

High Degree of Endurance the ability to work long hoursfor
sustain period of time
Characteristics of Entrepreneur
Trouble Shooting Nature

• An entrepreneur must have an intense desire to complete task or

solve a problem. Creativity is an essential ingredient

Initiative and Enterprising Personality

• An entrepreneur must have initiative, accepting personal

responsibility for a makegood use of resources.

Goal Setter

• An entrepreneur must be able to set challenging but realistic goals. 8.

Calculated Risk-Taking Ability An entrepreneur must be a moderate
risk-taker and learn from any failures
 Reflection Spot - 1
• Define the function of an Entrepreneur.

• Risk Absorption
• Formulate Strategic Business Decisions
• Execute Managerial Functions
• Adopt Innovation Function

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CHARACTERISTICS OF AN ENTREPRENEUR
Continuous learning
Planner
Innovator
Ability to Organize
Communicative
Risks
Decision Making
Strong Belief in Themselves
Approaches to entrepreneurship:-

There are broadly four approaches to the

study of entrepreneurship:
• Sociological Approach
• Psychological Approach
• Political Approach
• Composite Approach
 Reflection Spot - 2
Having discussed some content, here is another reflection spot

Question-2: What are the various approaches to entrepreneurship?

There are broadly four approaches to the study of entrepreneurship:

• Sociological Approach
• Psychological Approach
• Political Approach
• Composite Approach

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 Lecture Outcome Revisited

Having completed the discussion on Characteristics of an entrepreneur,

now, students should be able to…
LO1. Understand the various characteristics of entrepreneur
LO2. Understand the role of entrepreneur in development of the nation

20
 Further Reading
Text Books:
• Robert D.Hisrich, Michael P. Peters, “Entrepreneurship”, Tata McGraw-
Hill, 9th Edition 2014.
• Reading:
• Chapter -1
Reference Books
1) David H. Holt, “Entrepreneurship New venture creation” Prentice Hall of
India.2004.
2) Handbook for “New Entrepreneurs”, Entrepreneurship Development
Institute of India,

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