Entrepreneurship

FC - Gandhian entrepreneurship

Khushi Trivedi
 Entrepreneurship

● Entrepreneur and entrepreneurship

● Characteristics of an entrepreneur
● Purpose of an entrepreneur
● Importance of entrepreneurship
● Major factors affecting
● Types of entrepreneurs
● Types of entrepreneurships
● Role of entrepreneurship in today’s world
 What is entrepreneurship?
● An entrepreneur is any millennial who has an idea and creates a business on a single-person basis
● Entrepreneurship refers to individuals or small groups creating new businesses.
● After coming up with an innovative idea, you need to direct ways to implement this specific idea
into action. And this action of execution is known as entrepreneurship
● An entrepreneur is a person who organizes the means of production to engage in entrepreneurship,
often under considerable uncertainty and financial risk. Entrepreneurs may partner with other
entrepreneurs to jointly found companies (co-founders), or with an existing organization
● Entrepreneurship is the process by which individuals or a group of individuals (entrepreneurs)
exploit a commercial opportunity, either by bringing a new product or process to the market, or by
substantially improving an existing good, service, or method of production. This process is
generally organized through a new organization (a start-up company), but may also occur in an
established small business that undergoes a significant change in product or strategy
 Characteristics of an entrepreneur

● Versatility and flexibility

● Creative thinking
● Curiosity to be acknowledged and learn
● Understanding finance and sales
● Initiative and problem-solving
● Managing and saving money
● Being focused and resilient in critical situations
● Great communication skills and public relations
● Smart business strategies and management
● Being passionate about your goals
 Purpose of an entrepreneur

There are various reasons any individual wants to be an entrepreneur. Some of them are

as follows;

● Do not want to work under anyone

● A vision to change the world

● Freedom and flexibility to work

● Can not fit in a corporate environment

● Curious and ambitious about things

● Independent and self-learning

 Importance of entrepreneurship

● Creating job opportunities

● Innovation of new ideas
● Bringing a change
● Contribution to the society
● Generation of economy.
● Boosting the economy
● It incorporates the way your business will interact with your community,
society, other businesses, and your industry at large
● Increase in efficiency
 Major factors affecting

● Financial stability

● A Good set of skills

● Content creation and management

● Problem recognition and solving

● Strong networking

● Inspiring leadership
 Types of entrepreneur

● Builder - A builder focuses on creating a stable and functioning business in a short time. A builder
concentrates on the infrastructure by hiring talented employees and searching for the best investors.
Builders will concentrate on the growth and desire to make the business bigger in a short time.
● Opportunist - An opportunist looks out for financial opportunities and optimistic ideas. An opportunist
concentrates on the ideas to build the business and the revenue of income. Bestie to a particular time when
the business makes a profit and then exits when the business is in its peak era.
● Innovator - Innovators come up with ideas regarding products that are fresh and creative. Innovators' main
focus is on service and product development. They are great ideas generating people when compared to
running a business.
● Specialist - A specialist is a person who is trained and educated and has specific skills. Specialists help in
networking and building an entrepreneurial but slower growth.
 Types of entrepreneurship
● Small business - Small business is mostly single outlet secluded to one location and store. They do
not plan on starting a chain of businesses on a higher level. Some examples can be grocery stores,
pharmacy stores, or retail shops where you can sell specific goods and provide services. The
investment in these types of scenarios is personal and secluded. They do not find any outside
investors.
● Start-up - Start-up comes with creative ideas and manifests in growing their business through
profits to a higher level. They continue to grow with investors and funding of the amount that is
required. Through networking, you can reach multiple markets and establish your own brand.
● Large business - Large businesses merge with entrepreneurs to create and add ideas to the existing
company growth. Already existing large companies enter into another field or sector with
entrepreneurship.
● Social entrepreneurship - Social entrepreneurship places a heavy emphasis on creating societal
change. The overall goal is to benefit humankind and our way of life, and it can occur on a local or
global scale.
 Role of entrepreneurship in today’s world
● Economic Growth - Entrepreneurs are the engines of economic growth. They create new businesses,
products, and services, creating new jobs, generating revenue, and stimulating economic activity.
● Innovation - Entrepreneurs are known for their innovative ideas and disruptive thinking. They develop
new products and services that solve problems and meet customers' needs. They also bring new
technologies to market, which drive progress in many industries.
● Job Creation - Entrepreneurs create jobs, both directly and indirectly. When they start a new business,
they hire employees to help them run it. They also create demand for goods and services, which leads to
job growth in related industries.
● Social Change - Many entrepreneurs are passionate about making a positive impact on the world. They
use their businesses to address social and environmental issues and to promote social justice and
equality.
● Globalization - Entrepreneurship has become a global phenomenon with the rise of technology and the
internet. Entrepreneurs can start businesses from anywhere worldwide and sell their products and
services to a global audience.
 Sources and links

● https://online.stanford.edu/what-is-entrepreneurship
● https://startupsusa.org/what-is-entrepreneurship/
● https://www.coursera.org/articles/what-is-entrepreneurship
● https://especia.co.in/post/what-is-entrepreneurship/