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m a l l B usi
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En n a ge m e nt
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BBA VI SEM.
 *MEANING OF ENTREPRENEUR*

• The word ENTREPRENEUR comes from a French word ‘ENTREPENDRE’

that means ‘individuals who are undertakers’ i.e. who take risk of a new
enterprise.

• An entrepreneur is an economic change agent with knowledge, skills,

initiative, drive and spirit of innovation to achieve goals. He identifies and
seizes opportunity for economic benefits. He is a risk bearer, organizer and
an innovator.
 According to…
 Economists,
An entrepreneur is the one who brings resources, labour, material
and other assets into combination to produce a socially viable product,
and also one who introduces changes, innovation and new order.

 Management,
A person with a vision and action plan to achieve it is an
Entrepreneur.
 Identifications
of
Opportunities

Developing Introduction to
New Markets FUNCTIONS a New Product

Gathering
Resources
 *CHARACTERISTICS OF ENTREPRENEUR*

• An entrepreneur is a person who is action-oriented and highly

motivated to take a risk and to achieve such a goal dot brings
about a change in process of generating goods or services or
reinitiates progress in the advent of creating new organizations.

• Therefore, experts have NINE characteristics for the

entrepreneurs from different conceptual viewpoints.
 9 characteristics of an Entrepreneur…
1. Entrepreneur is an AGENT
2. Entrepreneur is a RISK-TAKER
3. Entrepreneur is a PROFIT-MAKER
4. Entrepreneur is an ACHIEVEMENT MOTIVATOR
5. Entrepreneur is a CAPITAL PROVIDER
6. Entrepreneur is the BUSINESS DETERMINANT
7. Entrepreneur is an INNOVATOR
8. Entrepreneur is a REWARD RECEIVER
9. Entrepreneur is a CHALLENGE TAKER
 TYPES OF ENTREPRENEUR*

• There is a huge list of entrepreneurs in our civilization who

were instrumental in introducing new methods, products, new
markets and new forms of industrial organization.

• Entrepreneurs take various initiatives with various motives that

direct them to various functional areas. This context and
motives are taken as the basis for classifying them in different
categories.
INNOVATIVE IMITATING

TYPES OF
ENTREPRENEURS

FABIAN DRONE
A. INNOVATIVE ENTREPRENEUR

• The ones who invent new ideas, new products, new productions methods, new strategies, discover potential markets
and recognize the company’s structure.
• They are always ready to take the risk.
• They have unusual foresight to recognize the demand for goods & services.
• For example, RATAN TATA is the name of an Innovative Entrepreneur for TATA NANO CAR.

B. IMITATING ENTREPRENEUR

• The ones who immediately copy the new inventions made by the innovative entrepreneurs.
• They don’t invent while do imitation of the technology or the methodology pioneered by the others.
• They are usually found at underdeveloped regions where lack of resources occur.
• They are less risk taker.
C. FABIAN ENTREPRENEUR
• The ones who are skeptical about the changes to be made in the organization.
• They do not initiate any inventions but follow only after they are satisfied with its success rate.
• They wait for some time before the innovation become well tested.
• They are too less risk taker.

D. DRONE ENTREPRENEUR
• The ones who are reluctant to any kind of changes.
• They are very conservative type of entrepreneurs.
• They are happy with the present mode of business and don’t want any change even if they’re facing loss.
• Mostly, family businesses have these kind of entrepreneurs where the one do not agree to change his forefathers’
terms in organization.
 *ENTREPRENEURIAL SKILLS*

• Entrepreneurial skills can encompass a broad range of various skills,

leadership and business management skills and creative thinking.

• Entrepreneurial skills can be applied to many different job roles and

industries.

• Entrepreneurial skills can encompass a large range of both soft and hard
skills.

• Entrepreneur has to play many different business roles; they have to develop
a variety of different set of skills for the growth and development of their
business and brands.
  Some sets of skills…
 Business management skills
 Teamwork and leadership skills
 Communication and active listening
 Customer service skills
 Financial skills
 Analytical and problem-solving skills
 Critical thinking skills
 Planning skills
 Technical skills
 Time management skills
 Branding, marketing and networking skills
 Others..
 PL ET E D
UN I T- I COM
OU  
TH A N KY
(Shipra Goel)