Prepared by:

(1) Matree Mehta (10) (2) Vrinda Vikram (25) (3) Robina Sudan (41)
4/8/12 11

CONTENTS
Introduction Evolution Model for Entrepreneurship Qualities of an Entrepreneurship Various entrepreneurs across globe and in India Aspects of an Entrepreneurship Functions of an Entrepreneurship Types of Entrepreneurship Entrepreneurship 4/8/12 Development Program 22

DEFINITION An Entrepreneur (ahntra pra nur) is a person who organizes and manages a business undertaking and supplying risk capital as a risk taker, and monitors and controls the business activities for the sake of profit. Any person (any age) who starts and operates a business is an entrepreneur.
4/8/12 33

Explaination & definition by famous people Entrepreneurship involves not only the process that leads to the setting up of a business entity but also the expansion and development of an on going concern. The study of entrepreneurship is concerned with the entrepreneurial behavior, the dynamics of business set up and expansion and development.
4/8/12 44

WHO IS AN ENTREPRENUER?

He is a person who develops and owns his own enterprise He is a moderate

4/8/12 55

THE EVOLUTION OF ENTREPRENEURSHIP THEORY

Adam Smith (1776) - An entrepreneur is a person who acts as agent in transforming demand into supply. Jean Babtiste Say (1803) - An entrepreneur is a person who shifts resources from an area of low productivity to high productivity. John Stuart Mill (1848) - An entrepreneur is 4/8/12 66 a prime mover in the private enterprise. The

EVOLUTION (Continue)
Joseph Aloysius Schumpeter (1934) - An entrepreneur is an innovator. The economy moves through leaps and bounds and the prime mover is the entrepreneur through the process of creative destruction. Alfred Marshall (1936) - The process of entrepreneurship or business development is incremental or evolutionary . It evolves from sole proprietorship to a public company.
4/8/12 77

EVOLUTION

4/8/12

88

Model for Entrepreneurship

4/8/12

99

4/8/12

1010

4/8/12

1111

Qualities of an Entrepreneur
Successful businesspeople have many traits in common with one another. They are confident and optimistic. They are disciplined self starters. They are open to any new ideas which cross their path. Here are some traits of the successful entrepreneur.
(1)

4/8/12

Discipline

1212

(4)

Open Minded

Entrepreneurs realize that every event and situation is a business opportunity. Ideas are constantly being generated about workflows and efficiency, people skills and potential new businesses. They have the ability to look at everything around them and focus it toward their goals
4/8/12 1313

(8) Creativity

Able to make connections between

1414

4/8/12

Famous ENTREPRENURES ACROSS THE GLOBE and in India

4/8/12

1515

STEVE JOBS
Steve Jobs was the co-founder and CEO of Apple and formerly Pixar. Steve Jobs had a
1616

4/8/12

BILL GATES

4/8/12

Focus: Bill Gates has pursued the objective of dominance in software in general and

1717

DHIRUBHAI AMBANI
Dhiru Bhai Ambani built India's largest private sector company. Created an equity cult in the Indian capital market. Reliance is the 1818

4/8/12

NARAYANA MURTHY
One of the founders of Infosys Technologies Limited, Narayana Murthy was Chosen as the World Entrepreneur of the Year - 2003 by Ernst
4/8/12 1919

JRD TATA

JRD Tata had the honor of being India's first pilot. He was Chairman of Tata & Sons for 50 years He launched 2020 Air

4/8/12

LEADING WOMEN ENTREPRENURES IN INDIA CHANDA KOCHHAR

Chanda Kochhar holds a Masters Degree in Management Studies from Jamnalal Bajaj Institute of Management Studies. She joined ICICI as a Management trainee 4/8/12

2121

SHAHNAZ HUSAIN
Shahnaz Husain Group, one of the largest producers of ayurvedic and herbal products in the world. It begins with a personal profile of Shahnaz Husain and her 2222 idea of

4/8/12

ASPECTS OF ENTREPRENEURSHIP
(1)

The identification / recognition of market opportunity and the generation of a business idea (product or service) to address the opportunity.
4/8/12 2323

TYPES OF ENTREPRENUERSHIP

4/8/12

2424

(A) SOCIAL ENTREPRENEUR

A social entrepreneur is motivated by a desire to help, improve and 4/8/12

2525

(B) SERIAL ENTREPRENEUR

A serial entrepreneur is one who continuously comes up with new ideas and starts new businesses. In the media, the serial entrepreneur is 4/8/12

2626

(C) LIFESTYLE ENTREPRENEUR

A lifestyle entrepreneur places passion before profit when launching a business in order to combine personal interests and talent 4/8/12

2727

ENTREPRENEURSHIP PYRAMID IN INDIA

4/8/12

2828

FUNCTIONS OF AN ENTREPRENEURSHIP
(i) Identifying entrepreneurial opportunity There are many opportunities in the world of business. These are based on human needs like food, fashion, education, etc., which are constantly changing. These opportunities are not realized by common man, but an entrepreneur senses the opportunities faster than others do. An entrepreneur therefore, 4/8/12 2929 has to keep his eyes and ears open and

(iv) Resourcing The entrepreneur needs various resources in terms of money, machine, material, and men to running the enterprise successfully. An essential function of an entrepreneur is to ensure the availability of all these resources. (v) Setting up of the Enterprise For setting up an enterprise the entrepreneur may need to fulfill some legal formalities. He also tries to find 4/8/12 out a suitable location, design3030 the

CHARACTERISTICS
According to the Small Business Administration, successful entrepreneurs have five characteristics:

Drive, which is defined as the most important attribute. Entrepreneurs can expect long hours, high stress and endless problems, as they launch a new business. Thinking Ability, or the characteristic that encompasses creativity, critical thinking, 4/8/12 3131

OTHER important CHARACTERISTICS

The characteristics of an unique entrepreneur are : Perseverance

Ambition

- Need for achievement Leader

- High need for power Survivor status

- Independence Competitive

Interpersonal - Propensity to take risk

- Personal modernity

skills

Innovative Support skills

- Business enterprise Ability to

bounce back 4/8/12 Vision

-Leadership

3232

An Entrepreneurship Development Programme (EDP), of 6-8 weeks duration, aims at training the S&T graduates and the diploma holders in the essentials of conceiving, planning, initiating and launching an economic activity or an enterprise successfully.

ENTREPRENEURSHIP DEVELOPMENT PROGRAMME(EDP)

The programme content includes class room training on essentials of entrepreneurship survey of the prevalent socio - economic scenario, identification of business opportunities, role and function as well as schemes of assistance offered by various constituents of the support system, preparation of a technically feasible and economically viable project report, Achievement Motivation Training and also the nuances of management of an enterprise. Sessions on technology and finance are also arranged, depending upon the nature of project selected.

Special EDPs are being conducted with more emphasis on linkages with R&D institutions to take up projects based on indigenous technologies and services, in the area of high technology, such as leather, plastics, bio-medical equipment, high speed data communication and other emerging areas of technology.

For example, a programme has been undertaken in collaboration with the Institute of Plasma Research, Ahmedabad, for setting up plasma technology-based enterprises.

4/8/12

3333

HURDLES IN A BUSINESS

Lack of the right business idea Complicated regulatory efforts Own financial risk Lack of courage Lack of right founding partner Lack of equity Lack of debt capital Know-how-deficit Lack of contact clients/customers Economic cycle Business environment Fear of failure Support by family and friends

4/8/12 of time Lack

3434

ADVANTAGES OF ENTREPRENEURSHIP
You are your own boss Enjoy the profits from you efforts Sense of business Flexibility schedule 4/8/12 pride in in your work
3535

your

CONCLUSION
Entrepreneurship is increasingly recognised as an important driver of economic growth, productivity, innovation and employment, and it is widely accepted as a key aspect of economic dynamism.

The most important reason why entrepreneurs help the economy is 4/8/12 3636

Guided by:

Prof. Preeti Nair

4/8/12 3737