Entrepreneurship

development

BY – MS. NEHA JAIN

 ENTREPRENEUR

An entrepreneur is a person who has

possession of an enterprise, or
venture, and assumes significant
accountability for the inherent risks
and the outcome.
An ambitious leader who combines
land, labor, and capital to create and
market new goods or services.
Entrepreneur

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Who is an Entrepreneur ?

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 Requirements to be an entrepreneur

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Entrepreneurship = Entrepreneur + Enterprise

(Process) (Person) (Object)

What is Entrepreneurship?

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 WHY
ENTREPRENEURSHIP

To improve backwardness of the people.

Economic development of the region.
Proper utilization of human potentiality.
Special attention to take up new
activities.
To create self-employment and
generation of employment opportunity.
Better economic gain.
“We're seeing the
beginnings of the entrepreneurial economy
a system built on quick, low-overhead,
often times small companies”
But first, some FACTS about
Entrepreneurs
 55-64- The age
group showing the
highest rate of
entrepreneurial
activity.

Surprisingly,
20-34 age group
has lower rate
 66% of entrepreneurs claim they were
inspired by innate (intrinsic) desire, not 
education or training
50% of all U.S.  businesses  are home based
 13 Million
people are employed by home businesses
8% of home businesses have
revenues of $500,000
 or more 

35% have revenues of  $125,000 

or more
Remember  the Recession
8% of American entrepreneurs added employees
over the past year
71% of entrepreneurs don’t expect
to add any new jobs
61% of entrepreneurs think the
economy is on the wrong track
 50% of innovation
driven countries,
including the U.S., show a decre
ase in startups
 
But there’s hope
 “More than half of the largest and fastest
growing companies
in the country were formed during economic tough times”
New and young firms have been the primary sour
ce of new 
jobs in the United States over the past three deca
des :
Change is coming :
 25%
of entrepreneurs say they will
commit more resources to social
 media
 
 Find Your Inner Entrepreneur Start a side business
while you're still employed: The risk is lower, security 
is much higher, and your current job can open the
doors that you need
Promoting Entrepreneurship

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Entrepreneurship 29
Development
The Builder of Indian Industry

J R D TATA
• Dhirubhai Ambani also known as
Dhirajlal Hirachand Ambani was
born on December 28, 1932, at
Gujarat, into a Modh family. His
father was a school teacher.
Dhirubhai Ambani started his
entrepreneurial career by selling
"bhajias" to pilgrims in Mount
Girnar over the weekends.
• At the age of 16, Dhirubhai moved to Aden, Yemen. He worked there as
a gas-station attendant, and as a clerk in an oil company. He returned to
India in 1958 with Rs 50,000 and set up a textile trading company.
• Assisted by his two sons, Mukesh and Anil, Dhiru Bhai Ambani built
India's largest private sector company, Reliance India Limited, from a
scratch. Over time his business has diversified into a core specialization in
petrochemicals with additional interests in telecommunications,
information technology, energy, power, retail, textiles, infrastructure
services, capital markets etc.
• N.R.Narayana Murthy
•
An Indian IT chief who's really made it
big without dropping his ethical precepts
by the wayside is Nagawara Ramarao
Narayana Murthy, Chairman of Infosys.

• Born in 1946, Murthy's father was a

schoolteacher in Kolar district, Karnataka,
India. A bright student, Murthy went on to
acquire a degree in Electrical Engineering
from Mysore University and later studied
Computer Science at the IIT, Kanpur,
India.
• The Infosys legend began in
1981 when Narayana
Murthy dreamt of forming
his own company, along
with six friends. There was
a minor hitch, though-he
didn't have any seed money.
Luckly, like many Indian
women who save secretly
without their husband's
knowledge, his wife Sudha-
ben an engineer with Tatas-
had saved Rs 10,000. This
was Murthy's first big break.
 Infosys.

• The decade until 1991 was a tough period when

the couple lived in a one-room house. The second
break came in 1991 when Indian doors to
liberalization were flung open… Murthy grabbed
the opportunity with both hands and has never
looked back ever since. Today, Infosys is the first
Indian company to be listed on the US NASDAQ.

• It provides employment to 85,000 people.

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Food king

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The Motivating Force of Food King

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 Food king

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Qualities of an Entrepreneur:

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Qualities of an Entrepreneur:

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Successful Entrepreneurs

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Successful Entrepreneurs

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Successful Entrepreneurs

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Successful Entrepreneurs

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Successful Entrepreneurs

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Entrepreneurship

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Entrepreneurship

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Characteristics of an
Entrepreneur
 Drive-  Vision
 Independence  Motivation
 Ambition- hope of success  Self-confidence
 Leader  Self Satisfaction
 Survivor status  Ability to find and explore
 Competitive opportunities
 Interpersonal skills  Results orientated
 Innovative skills  Committed
 Ability to bounce back  Risk taker
 Locus of control  Sociable
 Learning from experience  Flexible
 Decision making  Stress Taking
Psychological
Characteristics of
Entrepreneurs
 Need for achievement
 Locus of Control
◦ Internal
◦ External
 Risk-taking Prosperity
 Tolerance for ambiguity
 Type A Behaviour
◦ Impatient, time urgency, driving ambition, competitiveness
 Need for Independence
What is the Role of the
Entrepreneur?

Opportunityrecognition
Market uncertainties
◦ Dealing with the future
Risk taking
◦ Businesses, financial and personal
Resource gathering
Profits/Reward
 TYPES OF
ENTREPRENUERS
Innovative Entrepreneurs.
Adoptive Entrepreneurs.
Fabian Entrepreneurs.
Drone Entrepreneurs.
Solo Operators.
Active Partners.
Simply Partners.
Inventors.
Buyers.
Life timers.
 INNOVATIVE Entrepreneur
Launches new products,
discovers new markets,
establishes new methods of
production and restructures
the enterprise. Sense the opportunities for
→ Introduction of New Ideas,
Can work only when
definite level of progress has → New Technology of production
been previously
→ Opening of New Markets.
accomplished.

They focus on revolution

and development.
 ADOPTIVE Entrepreneur
Adopt victorious innovations launched by the innovative
entrepreneurs.

Duplicate the technology and techniques innovated by others.

Suitable for underdeveloped countries.

 Imitate the existing entrepreneur & setup their enterprise in

the same manner

Instead of Innovating, Imitate

→ Technology
→ Methods innovated by others
 FABIAN Entrepreneur

show by great caution and disbelief in experimenting any change

in the organization.

They imitate only in situations where it becomes necessary to

do so.

They are not adaptable to the changing environment

Adopt new technology when-

→ Realize that failure to adopt will lead
to loss or collapse of the enterprise
 DRONE Entrepreneur

Drone Entrepreneurs suffer losses, as they refuse to

make any modifications in the existing production methods.

They are Conservative or Orthodox in outlook.

Refuse to adopt changes-

→ They are laggards.
→ Continue to operate in their tradition
way & resist changes.
 SOLO OPERATORS

These entrepreneurs basically work

alone and if required may recruit few
people.
 ACTIVE PARTNERS

These entrepreneurs set up an

enterprise as a joint venture and they
actively take part in the activities of the
organization.
SIMPLY PARTNERS

These entrepreneurs contribute funds,

but are not involved in the operations
of the enterprise.
 INVENTORS

These entrepreneurs are involved in

the research and development and
innovative activities.
 BUYERS

These entrepreneurs in order to

reduce risk buy an already established
and ongoing enterprise.
 LIFE TIMERS

These entrepreneurs take business as

primary part of their life.
Family enterprise falls into this group
of entrepreneurs.
 FUNCTIONS OF AN
ENTREPRENEUR
Planning of the project
Management
To Face Risks
Distribution of Rewards
Sale of Products
Scale of Production
Joint stock Organization
Earn Profit
 PRODUCTION

HUMAN RESOURCES SALES/MARKETING

ENTREPRENUER

TECHNOLOGY/ SYSTEM FINANCE

 FUNCTIONS
PERFORMED
Identifying entrepreneurial opportunity
Turning ideas into action
Feasibility study
Resourcing
Setting up of the Enterprise
Managing the enterprise
Growth and Development
WHY ENTREPRENEURSHIP

• To improve backwardness of the people.

• Economic development of the region.

• To analysis resource utilization.

• Proper utilization of human potentiality.

• Special attention to take up new activities.

• To create self-employment and generation of

employment opportunity.

• Better economic gain.

 KAO’s Conceptual Model

The Person

The Environment
Entrepreneurship

The Task The Organizational

Context
QUESTIONS….