Entrepreneurship

ENTREPRENEURSHIP

JAIN COLLEGE OF ENGINEERING

By: Praveen Kalkundri

INTRODUCTIONHe is an innovator; Carries new combinations in

ever-changing environment.

It processes economical, social and

technological development.

A manager is one who manages all the

resources to match with the organizational needs.

The entrepreneurship is very a old concept

according to which any one who runs business is

called an entrepreneur.

INTRODUCTIONModel of Enterpreneur.

Business Indivadual Enterpreneur

InitiatesOrganisesManages controlsRisk takingInnovatorPools up resources

INTRODUCTIONCountries economical development.

Possesses Skilles, knowledge, spirit of

innovations.

Dynamic activity :Brings change in

production,Business, new Ideas,resources,new

market.

Entrepreneur is one who understands the market dynamics and

searches for change respond to it and exploit it as an opportunity

THE EVOLUTION OF ENTREPRENEURSHIP

The word „entrepreneur‟ is derived from the French verb

„enterprendre‟. It means “to undertake”.

Around 1700 A.D. the term was used for architects and

contractor of public works

Oxford Dictionary :“A person who sets up a business or

businesses, taking on financial risks in the hope of profit.

International Encyclopedia :“An individual who bears the risk of

operating a business in the face of uncertainty about the future

conditions.

HISTORY OF ENTREPRENEURSHIP IN INDIA

The history of entrepreneurship is important worldwide,

even in India.

Times the India :-trade and business

Indians were experts in smelting of metals such as brass

and tin.

Kanishka Empire in the 1st century started nurturing Indian

entrepreneurs and traders.

Roman Empire Portuguese and then

English .

From the 1950s until the 1980s, India followed socialist-

inspired policies.

The economy was shackled by extensive regulation,

protectionism, and public ownership, leading to corruption

and slow growth.

THE STRUCTURE AND ORGANISATION OF VILLAGES

The history of entrepreneurship is important

worldwide, even in India.

Based on a simple division of labor.

The farmers cultivated the soil and tended cattle

Classes of people called weavers, goldsmiths,

carpenters, potters, surgeons, etc.

CHARACTERISTICS OF ENTREPRENEUR

Entrepreneur is highly

Goal Oriented

Enthusiastic

Energetic

PRIMARY FUNCTIONS OF ENTREPRENEUR

Planning

Organizing

Decision making

Management

Innovation

Risk Bearing

Leading

Controlling

PRIMARY FUNCTIONS OF ENTREPRENEUR

Planning

IdeasScan and select

Selection on product and Loc.(plant)

Type of business organization

Budget and Capital

Govt. rules

Selection on work force

Market strategies

TYPES OF ENTREPRENEUR

A.According to the types of

BUSINESSES

A.Business

B.Trading

C.Industrial

D.Corporate

E.Agriculture

F. Retail

G.Services

TYPES OF ENTREPRENEUR

A.According to the USE of Technology

A.Technical/Non technical

B.Professional

C. Low tech/high Tech

B. According to Motivation

A.Pure

B. Induced

C.Motivated

D.Spontaneous

TYPES OF ENTREPRENEUR

A.According to Motivation

a) Pure: Motivated by PSYCHOLOGICAL.

b) Induced :take up task due to POLICY.

c) Motivated : SELF-FULFILLMENT.

d) Spontaneous : NATURAL TALLENTs.

TYPES OF ENTREPRENEUR

A.According to Growth

B.According to the stages of

development

C.According to area

D.Accodring to age and gender

E. Accodring to SCALE of operation

F. Others………………..

INTRAPRENEUR

A. Entrepreneurship within an existing Business

B. Bridges gaps between SCIENCE and MARKET

C. Possesses resourses

D. Prevents Creativity and new products.

E. Competitive ERA ;hence need for new

products.

ELEMENTS OF INTRAPRENEURNEW

BUSINESS

VENTURING

INNOVATIONS

SELF-RENEWA

L

PROACTIVENESSES

ELEMENTS OF INTRAPRENEUR

POINTS INTRAPRENEUR ENTREPRENEUR MANAGER

Goal Management

Independent ,new innovations

Independent :Starts new businesses Supervises

Status Not Concerned Not Concerned Concerned

Risk Moderate Risk and Uncertain No Risk

Rewards Fixed ; may be extra Depending Fixed

innovation innovative Very innovative Manages Ideas

Decision Making Moderate Very much Involved Manages top

level decisions

STAGES IN ENTREPRENEURIAL PROCESS

1 •IDENTIFIATION of opportunity

2 •EVALUATION of opportunity

3 •PREPARATION OF THE BUSINESS plan

4 •DETMINATION and Organizing resources

5 •Management of the ENTREPRISE

ROLL OF AN ENTREPRENEUR IN ECONOMIC DEVELOPMENT

1 •Changing the structure of business or society

2 •These changes increases growth & high O/P

3 •Innovation (new product, services, investment)

4 •Demand Supply

6 •Awareness of product evolution process.

7 •Effects Economy (creating new products, JOBS)

8 •Creating Employment to people.

..

BARRIERS OF ENTREPRENEURSHIP1 •Lack of capital……….investment………

2 •Lack of technical knowledge…………….skills

3 •Economical BUSINESS CYCLES

4 •Non availability of RAW MATERIALS ….RESOURCES

5 •Government regulations

6 •Obsolescence of technology or IDEA

7 •Unstable/Unpredictable Market

8 •Globalization :Entry of new PRODUCTS

9 •Risk

ENTREPRENEURSHIP DEVELOPMENT PROGRAM-(EDP)

Growth of Small Scale industries

EDP focuses on entrepreneurship qualities

Provides Knowledge to solve PROBLEMS & DIFFICULTIES

NEED FOR EDP’S

1 •Lack of capital……….investment………

2 •Lack of technical knowledge…………….skills

3 •Economical BUSINESS CYCLES

4 •Non availability of RAW MATERIALS ….RESOURCES

5 •Government regulations

6 •Obsolescence of technology or IDEA

7 •Unstable/Unpredictable Market

OBJECTIVE OF EDP’S

1 •Develop and Strengthen Entrepreneurial qualities

2 •ledge…………….skills

3 •Economical BUSINESS CYCLES

4 •Non availability of RAW MATERIALS ….RESOURCES

5 •Government regulations

6 •Obsolescence of technology or IDEA

7 •Unstable/Unpredictable Market