Entrepreneurship

development

{ By Dr. Akankshya Patnaik

WHO IS ENTREPRENEUR
  An entrepreneur is defined as
“person in effective control of
commercial undertaking; one
who undertakes a business or an
enterprise”.

Entrepreneur
  Entrepreneur is an innovative person
who maximizes his profits by
following new strategies or
venturing into new products or
services.

Entrepreneur
  Entrepreneurship is the act of being
an entrepreneur, who starts any
economic activity for being self-
employed.

Entrepreneurship
  Entrepreneurship is the “process of
the entrepreneur”. It is an attempt to
create value through recognition of
business opportunity. It is basically
communicative and management
functions to mobilize financial and
material resources.

Entrepreneurship
A Few Definitions
Entrepreneur:
Person whose goal is to create or capitalize on new economic
opportunities through innovation
Entrepreneurship:
Process through which entrepreneurs create and grow
enterprises
Entrepreneurial Community:
Community where significant economic and social
entrepreneurial activity exists within an effective system of
public and private support
Entrepreneurship Development:
Policies and practices (public and private) that foster
entrepreneurship

Source: Based on Dabson and Wilcox (2012)

 As both entrepreneur and intrapreneur
share similar qualities like conviction,
creativity, zeal and insight, the two are
used interchangeably.

Difference between
Entrepreneur and Intrapreneur
  However, the two are different, as
an entrepreneur is a person who takes a
considerable amount of risk to own and
operate the business, with an aim of earning
returns and rewards, from that business.
 He is the most important person who envisions
new opportunities, products, techniques and
business lines and coordinates all the activities
to make them real.

Entrepreneur
  An Intrapreneur is an employee of the
organization who is paid remuneration
according to the success of the business unit,
for which he/she is hired or responsible.
 The primary difference between an
entrepreneur and intrapreneur is that the
former refers to a person who starts his own
business with a new idea or concept, the latter
represents an employee who promotes
innovation within the limits of the
organization.

Intrapreneur
BASIS FOR ENTREPRENEUR INTRAPRENEUR
COMPARISON
Meaning Entrepreneur refers to Intrapreneur refers to an
a person who set up employee of the organization
his own business with who is in charge of
a new idea or undertaking innovations in
concept. product, service, process etc.
Approach Intuitive Restorative
Resources Uses own resources. Use resources provided by
the company.
Capital Raised by him. Financed by the company
Enterprise Newly established An existing one
Dependency Independent Dependent
Risk Borne by the Taken by the company.
entrepreneur himself.
Works for Creating a leading Change and renew the
position in the existing organizational
market. system and culture.
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