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ENTREPRENEURSHIP

PRESENTED BYAJIT KUMAR05319301810BBA(b&i)

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ENTREPRENEURSHIPMEANINGEntrepreneurship is a process of identifying opportunities

in the market place, seeking investment and productionopportunity, raising capital , hiring labor, finding site,

introducing a new technique, selecting top managers for

day to day operation of the enterprise.

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MEANING 0F ENTREPRENEUR

This word derived from a French word that was

originally used to leaders of military.

An entrepreneur is one who always searches for

changes, responds to it, exploits it as an opportunity.

An entrepreneur is a risk taker , a resource

assembler, an innovator and an organization-builder.

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Difference Between Intrapreneur AndEntrepreneur

1. Entrepreneur is a independent businessman whereas

an Intrapreneur starts a new business venture withinthe exiting company.

2. Entrepreneur himself raises the required capital and

fully bears the risk of his business. whereas an

Intrapreneur may not be required to raise capital or

to bear full risks of his efforts in the company.

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Pre-requisites of Entrepreneur

Creative mind Risk taking capacity

cultural acceptance & recognition

Need to achieve (Most important factors)

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FEATURES OF ENTREPRENEURSHIP

1. Economic activity:-Creation of value or wealth.

2. Creative activity:-Innovation or introduction of

something new.

3. Dynamic process:-Flexibility is the hallmark of a

successful entrepreneur.

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4. Risk elements:- Entrepreneur makes decision in the face

of uncertainty.

5. Organization building:- Entrepreneur assembles and

co-ordinates other factors of production. like plant ,

labour ,finance etc.

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Quality Of A Successful Entrepreneur1. Capacity to assume risk:- A true entrepreneur should

be able to assume a relatively high degree of risk. Risk

and reward are inseparable in business. A person who

cannot manage high risk, cannot earn high profits.

2. Technical knowledge and willingness to change:-Technological change is the prime mover in the process

of economic growth.

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3. Optimum utilization of recourses:- A true entrepreneur

should be able to mobilize necessary resources at

reasonable cost and time.

4. Ability of organization:-He must be able to develop

motivation and loyalty among his staff.

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Types of Entrepreneurs1. Innovator:-An innovative entrepreneur introducessomething new into the economy. Such an

entrepreneur is an aggressive experiment maker.

2. Imitating entrepreneur:-such an entrepreneur adopt

the innovations introduced by innovating

entrepreneurs.he is suited to developing countries

which cannot afford expensive research.

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3. Fabian entrepreneur:-such entrepreneur are shy and

lazy. They imitate change only when it become essential

for their survival.

4. Drone entrepreneur:- such entrepreneur are resist

change and continue to use past methods

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HOW ENTREPRENEURS IMPACTAN ECONOMY

Entrepreneurs play a vital role in economic development

Innovation

Job Creation

Increased Competition

Increased Productivity

New Markets

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conclusion Entrepreneur plays A vital role in economic development.

Quality entrepreneurship is essential for every business

It is only an entrepreneurial class which is prepared to bear

risk of business and invest saving in productive areas.

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