Entrepreneur ?

-Undertaker – combines factors production viz plant, machinery, men, material , money to
arrive at a product or service and sells it to customer at certain price. In the process he is
taking risk which need not be insured.

-Entrepreneur can act as organiser or an innovator.????

- eg. Ford assembly line.

-Electric bulb by thomas edsion – invention

-How is inventor different from entrepreneur.

-Is entrepreneur same as small business man??? ( constructive change)

-Difference between Entrepreneur & manager ???

-Types of entrepreneurs.
-Who is an intrapreneur??
-Characteristics of entrepreneur
 Characteristics of entrepreneur

• Hard work
• Desire for high achievement
• Independence
• Foresight
• Good organiser
• Innovating
 Entrepreneur vs intrapreneur
• Dependency • Entr – independent
• Intra - dependent on
owner
• Raising funds • Entr – himself
• Intra - no
• Risk • Entr – himself
• Intra - not fully
• operation
• Entr – from outside
• Intra - within
 challenges
• Economic factor – lack of adequate facility
• non availability of
capital, raw material labour, greater risk
• Social factors - customs & tradition
• Rationality
• Social system
• Social set up
• Cultural factors
• Personality factors

• Barriers to entrepreneurship
• Lack of viable concept
• Lack of market knowledge
• Lack of technical skill
• Lack of capital
• Lack of business knowhow
• Lack of motivation
• Social stigma
• Legal constraints & regulations.
 Role of Entr in economic
development
• Increase in per capita income
• Value creation & wealth creation, multiplier effect)
• Introduces new product & services – xerox
• Brings change in structure of business – It ITES
• Leads to innovations & stinulus growth - MTR food
• Enable exports – basmati rice
• Employability
 Entrepreneurial process :

• Identify & evaluate the opportunity.

• Two perspectives on Entrepreneurial
opportunities – Kirznerian & schmpeterian
• Kirznerian - identify the opportunity with
only differential views towards existing
information.
• Schmpeterian - new information is key
• Sources of opportunites – technological.
• Political/ regulatory, demographics
• Internet – new way of organising.
• Discover of oil as fuel – new raw material
• Assembly line – manufacturing

• Idea – motorola – first to enter into mobile

phone.