AN INTRODUCTION TO

ENTREPRENEURSHIP
Ms. Kokila N N
Assistant Professor
Department of MBA
SIET
CONTENTS
 Meaning and Definition
 Importance
 Characteristics
 Functions
 Types
 Merits and Demerits
 Entrepreneurship in India-Scope
 Examples
 Conclusion
Meaning and Definition
 Entrepreneur: Is the originator of a
new business venture.
 Entrepreneurship: It is a process
undertaken by an entrepreneur to
augment his/her business interests.
 “ An entrepreneur is an economic man
who tries to maximise his profits by
innovations”- Haggen, 1958.
Importance
Entrepreneurship is our most important
driver, kicking off a virtuous cycle driving
the Indian economy.
 Entrepreneurship drives business
creation.
 Businesses creation drives value
addition.
 Job creation drives consumption.
 Consumption drives entrepreneurship.
Characteristics
 Passion and Motivation.
 Not Afraid to Take Risks.
 Self-belief, Hard Work and Disciplined
Dedication.
 Adaptable and Flexible.
 Product and Market Knowledge.
 Strong Money Management.
 Effective Planning (Not Over-Planning).
 Creativity.
 Exit Preparedness.
Functions
 Innovation
 Assumption of risk
 Research
 Development of Management skills
 Overcoming resistance to change
 Catalyst of Economic Development
Types
 Innovative Entrepreneurs
 Imitative Entrepreneurs
 Fabian Entrepreneurs
 Drone Entrepreneurs
 Social Entrepreneurs
Merits
 Opportunity to create your own
destiny.
 Opportunity to make a difference.
 Opportunity to reach your fullest
potential.
 Opportunity to reap extraordinary
profits.
 Societal responsibility and recognition.
 Opportunity to engage in work of your
choice.
Demerits
 Uncertainty of Income.
 Risk of losing your entire investment.
 Long hours and Hard work.
 Lower quality of life until the business
gets established.
 High levels of Stress.
 Complete responsibility.
 Discouragement.
Indian Perspective
 The scope of entrepreneurship is tremendous in a
developing country like India. The unemployment in
the country is rising day by day. The problem of
under-employment is also added to that.

There are of course strong reasons behind choosing this

career path by the young generation.
 People are ambitious and wish to control the future.
 There is the scope of more profits.
 The country is suffering from unemployment problem
and opportunity for alternative career options are
lacking.
 India is committed to promoting entrepreneurship at a
larger level.
Initiatives by GOI
 Start Up India
 Make In India
 Atal Innovation Mission(AIM)
 Support to Training and Employment
Programme for Women (STEP)
 Digital India
 Stand Up India
 Pradhan Mantri Koushal Vikas
Yojana(PMKVY)
 National Skill Development Mission, etc….
Examples
Examples
 Shahnaz Husain- Pioneer of Herbal
Cosmetics
 Ekta Kapoor- Creative Director, Balaji
Telefilms
 Kiran Muzumdar Shah-Founder,Biocon
India
 Radhika Ghai Aggarwal- Founder and
CMO of Shopclues.com
 Suchi Mukherjee- Founder and CEO of
Limeroad.com
Conclusion
 To the direction of generating employment
opportunity for 10crore people, the Planning
Commission have also strongly recommended the
self-employment to channelize the unemployed
youth in its report.
 The Govt. of India, State Govt. and various
country and state level organizations are also
offering support to nurture entrepreneurship
through different schemes and programs. Here, to
mention Maharashtra Economic Development
Council (MEDC), that has focussed on the
development of entrepreneurship by research and
training in this field.
 It has also resulted into another dimension.
The entrepreneurship has taken place in the
curriculum of the management colleges.
 The apex institutions have started organizing
workshops and seminars on
entrepreneurship. Thus, the overall
movement of entrepreneurship development
has started in the country and is expected to
gain huge momentum in the near future.
THANK YOU