PRESTIGE INSTITUTE OF MANAGEMENT

AND RESEARCH INDORE

Submitted by -

Nidhi Garg
Somil Jain
Pratha Sikarwar
Yogita kushwaha
ENTREPRENEURSHIP
 INDEX

1. What is entrepreneurship
2. Key characteristics of Entrepreneurship
3. Entrepreneurship vs Intrepreneurship
4. Types of Entrepreneurship
5. Entrepreneurs and Managers
6. Attributes
 WHAT IS ENTREPRENEURSHIP ?
Entrepreneurship is the process of starting and running a business, taking on financial risks in the
hope of making a profit. It involves creating and managing a venture, often by identifying
opportunities and innovating to meet market needs.

“Entrepreneurship is the
dynamic process of creating
incremental wealth”
- Robert C. Ronstadt.
 The father of entrepreneurship and creative destruction is
Joseph Schumpeter .

An Austrian,
a distinguished,
economist, and father of
entrepreneurship and
innovation research.
 Key features of entrepreneurship -
• Innovation: Entrepreneurs often bring new ideas, products, or services to the market. They
are known for their ability to innovate and find creative solutions to existing problems.

• Risk-taking: Entrepreneurship involves a willingness to take risks, whether financial,

personal, or professional. Entrepreneurs understand that success often requires stepping
into the unknown and taking calculated risks.

• Vision: Successful entrepreneurs typically have a clear vision of what they want to achieve.
This vision guides their decisions, actions, and long-term strategies, helping them stay
focused on their goals.
• Networking: Building and maintaining relationships is vital in entrepreneurship.
Entrepreneurs often engage in networking to connect with potential collaborators, mentors,
customers, and investors, expanding their support and opportunities.

• Customer Focus: Successful entrepreneurs understand the importance of meeting

customer needs. They are attentive to market demands and strive to create products or
services that provide value to their target audience.
Entrepreneurship vs intrapreneurship
 Types of Entrepreneurship –

Entrepreneurship can take various forms, and individuals may engage in different types of entrepreneurship based on their goals,
motivations, and the nature of their ventures. Here are several types of entrepreneurship:

 Small Business Entrepreneurship:

• Involves starting and operating small businesses, often in local communities.
• Focuses on providing goods or services to meet the needs of a specific market.

 Scalable Startup Entrepreneurship:

• Involves creating a startup with the potential for rapid growth and scalability.
• Often seeks venture capital or angel investor funding to fuel expansion .
Social Entrepreneurship :

• Aims to address social or environmental issues through innovative

solutions.
• Balances financial sustainability with a commitment to creating positive
social impact.

Corporate Entrepreneurship (Intrapreneurship):

• Takes place within established companies.
• Employees work on innovative projects and initiatives within the
corporate structure.
• Entrepreneurs –
Entrepreneurs are individuals who take the initiative to start and operate
a business, typically with the goal of seeking profit or fulfilling a
specific need in the market.

• Managers –
Managers are individuals within an organization who are responsible for
planning, organizing, directing, and controlling the activities and
resources of a group or department to achieve organizational goals.
 Attributes

• Financial Management: Entrepreneurs need to have a solid understanding of

financial management. This includes budgeting, fundraising, and financial planning to
ensure the sustainability and growth of the business.

• Leadership: Entrepreneurs need strong leadership skills to guide their teams, make
strategic decisions, and inspire others to contribute to the success of the venture.

• Time Management: Entrepreneurs often juggle multiple tasks and

responsibilities. Effective time management is crucial for prioritizing tasks and
ensuring that goals are met in a timely manner.
• Persistence: Overcoming challenges and setbacks is a common aspect of
entrepreneurship. Persistence is crucial for staying committed to long-term
goals and continuing to work towards them despite obstacles.

• Resourcefulness: Entrepreneurs often exhibit resourcefulness, finding

creative solutions to problems and making the most of available resources.
They are adept at leveraging their skills and networks to address
challenges.