Entrepreneurship

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ENTREPRENEURSHIP by Mohammed Quadir Mohiuddin Faculty of Business Management :

ENTREPRENEURSHIP by Mohammed Quadir Mohiuddin Faculty of Business Management QUADIR MOHIUDDIN 1 E.D

Back Ground:

Back Ground Entrepreneurism, Entrepreneurship are the life blood of any economy and is the most powerful economic force known to mankind! Entrepreneurs were the pioneers of today’s business. QUADIR MOHIUDDIN 2 E.D

Entrepreneurs:

Entrepreneurs Do things that are not generally done in the ordinary course of business Some entrepreneurs become celebrities...others become ridiculed for their failed dreams All contribute to the spirit of free enterprise QUADIR MOHIUDDIN 3 E.D

Who is the Entrepreneur:

Who is the Entrepreneur Who Is the Entrepreneur? As per the Oxford English Dictionary the meaning of Entrepreneur is “ one who undertakes an enterprise – acting as intermediary between capital and labour Entrepreneur is a person who habitually creates and innovates to build something of recognized value around perceived opportunities QUADIR MOHIUDDIN 4 E.D

Entrepreneurs:

Entrepreneurs According to David C. McClelland “ Entrepreneur is an individual who takes moderate risks and brings innovation. An individual who creates, develops and manages a business ventures with personal risk, for a potential profits. QUADIR MOHIUDDIN 5 E.D

Entrepreneurs:

Entrepreneurs A good entrepreneur is one who is capable of inspiring confidence in people and has the ability to motivate them to work with him to fulfilling economic goals set by him Any enterprise needs entrepreneurs to start the enterprise and run it Entrepreneurs in India came from different strata of society. QUADIR MOHIUDDIN 6 E.D

Concept of Entrepreneur:

Concept of Entrepreneur The word “entrepreneur” has its origin in the French verb “entreprendre”. It means “to undertake”. The Entrepreneur is an important input of economic development and is a catalyst of development. QUADIR MOHIUDDIN 7 E.D

Entrepreneurs:

Entrepreneurs The New Concept of “entrepreneur” has been defined as one who detects and evaluates a new situation in his environment An entrepreneur is helping industrial growth in turn helping national income. In the early 16 th century, he was recognized as the key element in generating investment opportunities for new industries. QUADIR MOHIUDDIN 8 E.D

Entrepreneurs:

Entrepreneurs In modern India, during 40-50 years of independence, developed its capabilities in basic industries like steel, fertilizers, rail, locomotives, cars, cements, chemicals etc., all these industries were conceived and developed by host entrepreneurs like J.N Tata, JRD Tata, G.D Birla, Dhirubhi Ambani,Oberoi, Azim premji, etc., QUADIR MOHIUDDIN 9 E.D

PowerPoint Presentation:

QUADIR MOHIUDDIN 10 E.D

Characteristics of an Entrepreneur:

Characteristics of an Entrepreneur According to Stevenson and Hornaday the following are the characteristics of Entrepreneur ►Confidence ►Perseverance ►Determination ►Energy, Diligence ►Resourcefulness ►Commitment ►Perceptiveness ►Team builder QUADIR MOHIUDDIN 11 E.D

Characteristics of an Entrepreneur:

Characteristics of an Entrepreneur ►Dynamism ► Leadership ►Optimism ►Need to achieve ►Versatility ►Initiative ►Intelligence ►Responsibility ►Foresight ►Efficacy ►Maturity ►Balance ►Honest ►Integrity QUADIR MOHIUDDIN 12 E.D

Characteristics of an Entrepreneur:

Characteristics of an Entrepreneur ►Independence ►Pleasant Personality ►Toleration for ambiguity ►Ability to trust workers ►Responsiveness to suggestions & criticism ►Drive to achieve and grow ►Persistent problem solving ►Ability to get along well with people QUADIR MOHIUDDIN 13 E.D

Characteristics of an Entrepreneur:

Characteristics of an Entrepreneur ►Positive response to challenges ►Ability to make decisions quickly ►Ability to learn from mistakes ►Ability to take calculated risks ►Realism and a sense of humor ►Long term involvement ►Internal locus of control QUADIR MOHIUDDIN 14 E.D

Entrepreneur v/s Manager:

Entrepreneur v/s Manager Entrepreneur Manager Visionary Planner Risk-taking Perception of an opportunity Tactical planner Determined Idealist Setting of objectives Policy formulation Strategic planner Formal communication Organising Controlling Administrator QUADIR MOHIUDDIN 15 E.D

Entrepreneur v/s Manager:

Entrepreneur v/s Manager Entrepreneur Manager Interpersonal communication Negotiating Trouble –shooting Committed Innovator Demands effectiveness Motivating Skilled, Knowledgeable Confident to an extent Specialist Loyal Demand efficiency QUADIR MOHIUDDIN 16 E.D

Functions of Entrepreneur:

Functions of Entrepreneur ►Planning ► Organising ►Motivating ►Innovation ►Risk-taking ►Leading ►Initiating ►Implementing ►Creativity ►Administration ►Visualization ►Communication ►Strategic thinking ►Networking ►Problem solving ►Hard & Smart working QUADIR MOHIUDDIN 17 E.D

Classification /Types of Entrepreneurs:

Classification /Types of Entrepreneurs QUADIR MOHIUDDIN 18 E.D

Innovative Entrepreneur:

Innovative Entrepreneur ☺ In the early phases of economic development entrepreneurs will have initiative to start new ventures and find innovative ways start an enterprise ☺ Innovative Entrepreneur are who built the modern capitalism. The enterprising spirit of the innovative entrepreneurs open new markets and develops enterprises. QUADIR MOHIUDDIN 19 E.D

Imitating / Adoptive Entrepreneur :

Imitating / Adoptive Entrepreneur ☺The imitative entrepreneurs copy or adopt suitable innovations made by the innovative entrepreneurs. They also contribute to the development of the economy specially in underdeveloped countries. ☺The imitative entrepreneurs bring industries to the poorer countries and the adaptation is mainly to suit the local conditions. QUADIR MOHIUDDIN 20 E.D

Fabian Entrepreneur :

Fabian Entrepreneur ☺By nature these entrepreneur are shy and lazy. They follow the set procedures, customs, traditions and religion. ☺They do not venture to take risks. Usually they are second generation entrepreneurs in a business family enterprises. QUADIR MOHIUDDIN 21 E.D

Drone Entrepreneur :

Drone Entrepreneur ☺ Drone Entrepreneur are those who refuse to copy or use opportunities that come on their way. They are conventional in their approach and strict to their set practices, products, production methods and ideas. ☺They may be termed as laggards. In such cases the organisation looses market and may be pushed out of the market. QUADIR MOHIUDDIN 22 E.D

Intrapreneurs & Intrapreneurship:

Intrapreneurs & Intrapreneurship Intrapreneurs are entrepreneurs who catch hold of new idea for a product, service, or process and work to bring this idea to fruition within the framework of the organisation. Intrapreneurs with their innovations and dedicated effort are perceived as a valuable asset by organisation, inspiring others. He serves as a champion to others in the organisation Intrapreneurship is Entrepreneurship practiced by people within established organisations QUADIR MOHIUDDIN 23 E.D

Entrepreneurship:

Entrepreneurship Entrepreneurship is the process of creating value by bringing together a unique package of resources to exploit an opportunity. Entrepreneurship is a process undertaken by entrepreneur to augment his business interest. It is an exercise involving innovation and creativity that will go towards establishing his/her enterprise. QUADIR MOHIUDDIN 24 E.D

Entrepreneurship:

Entrepreneurship Is a dynamic process of creating incremental wealth. This wealth is created by individuals who assume the major risks in terms of equity, time and career commitment of providing value for some product or service The entrepreneur must somehow infuse value to the product or service... QUADIR MOHIUDDIN 25 E.D

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