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A-III)
Who is an Entrepreneur?
A PERSON ORGANISES & MANAGES
BUSINESS UNDERTAKING
ASSUMING RISK
ENTREPRENEURSHIP
AN ENTREPRENEUR
NEW VENTURE
Entrepreneurship
Manufacturing Entrepreneurship
policies
77%
82%
90%
93%
97%
93%
In case of manpower & managerial skill, India was at loss whereas Muslims possessed these skills who migrated to Pakistan. India lost major ports which adversely affects Indias exports.
THEORIES OF ENTREPRENEURSHIP
Entrepreneurship Innovation Theory - by Joseph Schumpeter
According to him, innovation occurs when the entrepreneur:
Introduces a new product Introduces a new production method Opens up a new market Finds out a new source of raw material supply
These theory emphasizes on innovation, ignoring the risk taking and organizing abilities of an entrepreneur.
THEORIES OF ENTREPRENEURSHIP
Theory of High Achievement
-by McClelland According to him, a person has three types of needs at any given time, which are:
Need for achievement Need for power Need for affiliation
Entrepreneurship
Some advantages
You are your own boss
Entrepreneurship
Some disadvantages
Will need to put in long hours
rules and regulations May have to make hard decisions May lose money
CONCLUSION
All the activities which an entrepreneur
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