Introduction to Entrepreneurship

Development
By 220A1E0018
&
220A1E0012
History of Entrepreneurship:

The word 'entrepreneur' is derived from the French

word 'entreprende'. It means to 'to undertake'.
In 18th century, Richard Cantilena an Irishman,
living in France firstly used the term entrepreneur
Webster's Dictionary defines the term entrepreneur
as " a person who organizes and manages a
business undertaking, assuming the risk for the
sake of profit.
Meaning of Entrepreneurship:
Entrepreneurship is the art of starting a business, basically
a startup company offering creative product, process or
service. We can say that it is an activity full of creativity.
An entrepreneur perceives everything as a chance and
displays bias in taking decision to exploit the chance.
Definition :
Peter F. Drucker states that an entrepreneur is the one who
always searches for changes, responds to it and exploits it as
an opportunity. He further states that innovation is the
specific tool of entrepreneur, the means by which he
exploits change as an opportunity for a different business or
services.
Features of Entrepreneurship:

 Optimum utilization of resources

 Ability to bear risk
 Innovation
 Visionary and leadership quality
 Open-minded
 Flexible
 Know your product
Entrepreneurship Competencies:

 Risk-taking abilities
 Out of the box thinking and creativity
 Problem solving abilities
 Taking initiative
 Persistence
 Persuasion and social skills
 Business management skills
 Networking Skills
 Effective communication skills
Attitude of an Entrepreneur:

 Attitude towards imagination

 Attitude towards risk
 Attitude towards initiative
 Attitude towards changes
 Attitude towards freedom of expression and action.
 Attitude for looking new opportunities
 Attitude towards performance
 Attitude towards personal capacity
 Attitude towards building relations or networking
 Attitude towards customers
Qualities of an Entrepreneur :

 Willpower
 Management
 Obsession
 Smarts
 Self-assurance
 Clarity
 Adaptability
 Curiosity
 Discipline
 Flexibility
Functions of Entrepreneur :
Trends of Entrepreneurship in India :

The future trends of entrepreneurship in India are as

follows,
 Growth of multinational company
 Advances in science and technology
 Establishment of global support network
 Government support
Trends of Entrepreneurship in Abroad :

 Growth
 Profitability
 Achieving economies of scale
 Access to imported inputs
 Marketing opportunities due to life cycle
 Spreading R & D costs
 Risk spread
Thank you