ENTREPRENEURSHIP

By: srinivas

Entrepreneurship: Stepping Stone for Your Success

DEFINITION AND MEANING

Albert Shapiro Entrepreneurs take initiative, accept risk of failure and have an internal locus of control. An Entrepreneurship signifies a continuous, ever evolving, ever expanding opportunity for personal as well as business growth and development

SLOGAN
A nice slogan was given by SWAMI VIVEKANANDA YOU ARE THE CREATOR OF YOUR OWN DESTINY

ENTREPRENEURSHIP SYSTEM

SUCCESSFUL ENTREPRENEURS
The following are some of successful Entrepreneurs: Mr. PATEL - Nirma Group of companies. Mr. NARAYANA MURTHY Infosys Technologies Mr. DHIRUBAI AMBANI Reliance Group Mr. RAMOJI RAO Eenadu Group Mr. LAKSHMI MITTAL Mittal Iron Industries

WHAT IS ENTREPRENEURSHIP?

It can be described as a process of action an entrepreneur undertakes to establish his enterprise. IT IS A CREATIVE ACTIVITY.

WHO IS AN ENTREPRENEUR

He is a person who start the business in search of new challenges. He convert threat into opportunity. He is creative and innovative.

ADVANTAGES OF ENTREPRENEURSHIP
1.INCOME GENERATION :
It is the initial stage in the entrepreneurial process in which one tries to generate surplus or profit

2.SELF EMPLOYMENT:
It is the second stage in the entrepreneurial process and refers to an individuals full time involvement in his own occupation

FUNCTIONS OF ENTREPRENEUR
1. INNOVATION:

2. RISK BEARING: 3. ORGANISATION BUILDING:

EMPLOYMENT

ENTREPRENEURSHIP
ENTREPRENEURSHIP: Own boss. Make own plans. Creative activity. Creates wealth. Earning can be negative or positive.

EMPLOYMENT : Works for others. Follow instructions. Routine jobs. Does not create wealth. Earning is fixed.

ENTREPRENEUR VS MANAGER

An entrepreneur is his own boss. An entrepreneur initiates change. An entrepreneur gets uncertain rewards. An entrepreneur assumes financial, material and psychological risks.

A manager is a hired employee. A manager follows rules and procedures. A manager gets fixed rewards and salary. A manager does not have to bear risks.

FUTURE ENTREPRENEUR

CONCLUSION

The identification and development of 1st generation entrepreneurs through Entrepreneurial Development Programmes is an important strategy. India needs entrepreneurs to capitalize on new opportunities and to create wealth and new jobs.