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ENTREPRENEURSHIPThe New Encyclopedia Britannica considers an
entrepreneur as ³an individual who bears the risk of
operating a business in the face of uncertainty about the
future conditions.
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According to Drucker, three conditions have to be fulfilled:
1) Innovation at work. It requires knowledge and ingenuity. It
makes great demand on diligence, persistence and commitment.
2) To succeed, innovation must build on their strengths.
3) Innovation always has to be close to the market focused on the
market, indeed market-driven
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BASICS OF AN ENTREPRENEUR
INNOVATION
RISK
ENTERPRISE
URGE
SKILL
VISION
MANAGEMENT
ORGANISATION
GROWTH
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BARRIERS TO ENTREPRENEURSHIP
1) Lack of a viable concept
2) Lack of market knowledge
3) Lack of technical skills
4) Lack of seed capital
5) Lack of business knowhow
6) Lack of motivation
7) Social stigma
8) Time pressure and distractions
9) Legal constraints and regulations
10)Monopoly and protectionism
11) Inhibitions due to patents
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ENTREPRENEURSHIP
According to Peter Drucker, ³Entrepreneurship is
neither a science nor an art. It is a practice. It has a
knowledge base. Knowledge in entrepreneurship is a
means to an end. Indeed, what constitutes knowledge in
practice is largely defined by the ends, that is, by the
practice.´
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ACCEPTING
CHALLENGES
ORGANISATION
SKILFUL
MANAGEMENT
MAKING THE
ENTERPRISE
A SUCCESS
ENTREPRENEURSHIP
DECISTION-
MAKING
RISK-TAKING
INNOVATION
Characteristics Of Entrepreneurship
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ENTREPRENEUR V/S ENTREPRENEURSHIP
1)Refers ToA Person Refers ToA Process
2)V
isualiser V
ision3)Creator Creation
4)Organizer Organization
5) Innovator Innovation
6)Technician Technology
7) Initiator Initiative
8)Decision-maker Decision
9)Planner Planning
10)Leader Leadership
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TYPES OF ENTREPRENEUR
I. According to the type of business
1)Business entrepreneur
2)Trading entrepreneur
3) Industrial entrepreneur
4)Corporate entrepreneur
5)Agricultural entrepreneur
II.According to the use of technology
1) Technical entrepreneur
2) Non-technical entrepreneur
3) Professional entrepreneur
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V.According to the stages of development
1) First-generation entrepreneur
2) Modern entrepreneur
3) Classical entrepreneur
VI.According to the area1) Rural entrepreneur
2) Urban entrepreneur
VII.According to the gender
1) Men entrepreneur
2) Women entrepreneur
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VIII.According to the sale of operation
1) Small scale entrepreneur
2) Large scale entrepreneur
IX.Other or unclassified
1) National entrepreneur
2) International entrepreneur
3) Bureaucratic entrepreneur
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Intrapreneurs are dreamers who do, those who take
hands-on responsibility for creating innovation of any
kind within an organization. Gifford Pinchot
The intrapreneur is an essential ingredient in every
innovation. Dr. William Souder
Defined as
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INTRAPRENEURS CHARACTERISTICS
1)Self motivated2)Self-confident and courageous
3)Freedom
4)Education
5)Systems
6)Focus on customers
7)Patient and willing to compromise
8)Open to discussion and idea
9)motivator
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CLASSIFICATION OF INTRAPRENEURS
1) Innovating Intrapreneurs
2)Marketing Intrapreneurs
3)Technical Intrapreneurs
4)Manufacturing Intrapreneurs
5)Financial Intrapreneurs
6)Service Intrapreneurs and7)Other Intrapreneurs in various facet of
management activities
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W
OMEN ENTREPRENEURS According to Government of India, ³ a women
entrepreneur is defined as ³an enterprise owned and
controlled by a women having a minimum financial interest
of 51% of the capital and giving at least 51 % of the
employment generated in the enterprise of women´.
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FUNCTIONS OF W OMEN ENTREPRENEUR
1)Exploration of the prospects of starting a new business
enterprise
2)Undertaking of risks and the handling of economic
uncertainties involved in business
3)Introduction of innovations or imitation of innovations
4)Coordination, administration and control5)Supervision and leadership
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PROBLEMS OF W OMEN ENTREPRENEURS
1)Problem of Finance2)Scarcity of Raw Material
3)Stiff Competition
4)Limited Mobility
5)Family Ties
6)Lack of Education
7)Male-dominated Society
8)Low Risk-bearingA bility
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STRATEGIES FOR THE DEVELOPMENT OF
W OMEN ENTREPRENEURS 1) Education &Awareness
2) Better Time Management
3) Set-up Home-based Business
4) Efficient Use of Information Technology
5) Training Facility
6) Finance Cells7) Dispense Collateral Security
8) Organize Workshops & Seminars
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SPECIAL SCHEME FOR W OMEN ENTREPRENEURS
1)Seed Capital Scheme
2)National Equity Fund
3)Women Industrial Fund Scheme
4)Single Window Scheme
5)Training & Extension Services
6)Scheme For RefinanceAssistance To Women
Entrepreneurs
7)MAHILAARTHIK VIK AS MAHAMA NDAL (MAVIM)
8)SELF-EMPLOYED WOMENASSOCIATION (SEWA)
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THEORIES OF ENTREPRENEURSHIP
1)A
n Economic Theory- Mark Casson2)Leibenstein¶s X-efficiency Theory
3)Dynamic Entrepreneurship Innovation Theory-
Schumpeter
4)Harvard School Theory
5)Theory Of HighAchievement - McClelland
6)Theory Of Change- Young¶s Theory
7)Theory Of Profit- Knight
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8)Theory Of Adjustment Of Price-Kirzner
9)Theory Of Market-Hayek¶s
10)Theory Of Social Change-Hagen¶s
11)Theory Of Entrepreneurial Supply-John Kunkal
12)Theory Of Personal Resourcefulness
13)Theory Of CulturalValues-Thomas Cochran¶s
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Contribution of McClelland and Joseph Schumpeter
David McClelland
According to McClelland, ³An entrepreneur is some one who
exercises some control over the means of production and produces
more than what he can consume inorder to sell in for individual
income´.
David McClelland is most noted for describing three types of
motivational need, which he identified
1) Need for Affiliation (n-affil)
2) Need for Power(n-pow)
3) Need for Achievement(n-ach)