ENTREPRENE

URIAL
SKILLS-II
Business Activities
are all here.

JUNE
2020

By Lovisht Chawla Contact E-mail: lovisht1107@gmail.com

 Index
1. Introduction
The famous quote by Howard W. Johnson

2. Session 1: Entrepreneurship and Society

3. Session 2: Qualities and Functions of a successful entrepreneur
4. Session 3: Role and Significance /Importance of Entrepreneurs
The 8 major roles of an entrepreneur
5. Session 4: Myths of Entrepreneurship
The 4 major myths about entrepreneurs and entrepreneurship
6. Session 5: Entrepreneurship as a Career Option
Advantages of Entrepreneurship
Disadvantages of Entrepreneurship
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By Lovisht Chawla Contact E-mail: lovisht1107@gmail.com

Introduction
Every industrialist cannot be characterized as entrepreneur.
Hence, it is necessary to describe features and qualities of an
entrepreneur.

Howard W. Johnson says

"Entrepreneur is composite
of three basic elements:
(i) invention
(ii) innovation
(iii) adaptation

By Lovisht Chawla Contact E-mail: lovisht1107@gmail.com

SESSION 1:
ENTREPRENEURSHIP AND
SOCIETY
 An entrepreneur has some personal
qualities which influence his behavior.
 No doubt, he lives in a society and
therefore economic opportunities and
gains affect him. Entrepreneur creates
organizations.
 They promote investment, increase
production and bring competitiveness in
business, reduce costs of products and
raise the standard of living in society.

By Lovisht Chawla Contact E-mail: lovisht1107@gmail.com

SESSION 2 : QUALITIES AND
FUNCTIONS OF A SUCCESSFUL
ENTREPRENEUR

There are definitely some common

personal characteristics in
entrepreneurs. After carefully
scanning the qualities 1. 2. Risk- 3.
4.Goal-
Leadership taking Innovative
/characteristics of such ness
oriented
entrepreneurs the principal ones
were noticed, which are as follows:

5. Decision 6. Highly 7. 8. Self-

maker Optimistic Motivator Confident

10.
9.Action 11.High 12. Trust
Dynamic
Oriented achiever in Self
Agent

By Lovisht Chawla Contact E-mail: lovisht1107@gmail.com

SESSION 3: ROLE AND SIGNIFICANCE/ IMPORTANCE OF ENTREPRENEURS

1. ENTERPRISING MAN : A business does not get started by itself. It is the

entrepreneur who takes the risks and is willing to face devastating
failure. He braves uncertainty, strikes out on his own, and through native
wit, devotion to duty, and singleness of purpose, somehow creates
business and industrial activity where none existed before.
2. GREAT ACHIEVERS: Entrepreneurs are high achievers. They are
challenged by opportunity. They are willing to work hard to achieve
something.
3. REINVENTING ORGANISATION : Entrepreneurship is a discontinuous
phenomenon, appearing to initiate changes in the production process
and then disappearing until it reappears to initiate another change.
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4. JOB CREATION: Entrepreneur creates organisations . He integrates
resources and technologies into profitable business ventures . He
creates job opportunities for the youth.
5. FIRST MOVERS: Entrepreneurs are first movers. They move in
various areas earlier than their competitors. Their is to "REFORM AND
REVOLUTIONISE “the pattern of production.
6. HIGHER PRODUCTIVITY: Entrepreneurs have the ability to produce
more goods and services with less inputs. They play an important role in
raising productivity.
7. Visionary leader: An entrepreneur has a good vision and sense of
mission. He instills inspiration.He is able to recognise potentially
profitable opportunities and to conceptualise the venture strategy.
8. CATALYTIC AGENT: Entrepreneur destroys to create new things. He
changes and transmutes values. He searches change and responds to 7
it. He is a change creator
By Lovisht Chawla Contact E-mail: lovisht1107@gmail.com
SESSION 4:MYTHS
OF
ENTREPRENEURS
HIP
The various myths that people
think about entrepreneurship
are in the following slides.

By Lovisht Chawla Contact E-mail: lovisht1107@gmail.com

1. It is easy to start a business:

• In reality, starting a successful business is a very difficult and

challenging process. The rate of failure of new ventures is
high. Even after a period of seven years, only one third of the
enterprises are profitable. However, it is relatively easy to start
a very small business than a large company.
• Entrepreneurs have to face a lot of hardships in order to start
a business. The various hardships are:
i. Competition
ii. Finance
iii. Marketing
iv. Risk
v. Location
vi. Staffing
vii. Goods etc. 9

By Lovisht Chawla Contact E-mail: lovisht1107@gmail.com

2.Lots of money is needed to start a new business:

• A business can be started with limited money. For example, Infosys

Technology was started with only ~10,000. In the beginning you
can hire space and equipment.
• Organisations like Anand Milk Union Limited are companies that
started with a sum of 20k and now have achieved a great success
in dairy products.

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By Lovisht Chawla Contact E-mail: lovisht1107@gmail.com

3. A Startup cannot borrow from banks:
• Under various schemes like
MUDRA, budding entrepreneurs
also can raise loans from banks.
• Standup India is a scheme that
promotes entrepreneurship by
giving startup loans to women,
SC/St from 10 lakhs to 1 Crore
rupees.
4. Most startups are successful:
• A large percentage or startups
tail. The average profit of an
owner managed firm is ~20,000
per month.
• A very few entrepreneurs earn
more than employees.
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SESSION 5:
ENTREPRENEURSHIP
AS A CAREER OPTION

Advantages of Entrepreneurship:
 Independence
 Ambition-fulfilment
 Excitement
 Freedom
 Wealth creation
 Status

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By Lovisht Chawla Contact E-mail: lovisht1107@gmail.com

Disadvantages of
Entrepreneurship

The various disadvantages of taking

entrepreneurship as a career option
are:
 Risk
 Hard work
 Uncertain income
 Problem of finance
 Incompetent staff

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By Lovisht Chawla Contact E-mail: lovisht1107@gmail.com

THANK YOU!

Lovisht Chawla
Class- IX-C
Email:
lovisht1107@gmail.com