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Enterpreneurship. 01
1. The document defines entrepreneurship and discusses key concepts like the definition of an entrepreneur, characteristics of entrepreneurs, types of entrepreneurs, and factors that affect entrepreneurship growth. 2. It also covers topics like the need for entrepreneurship development programs, their objectives and structure, and challenges faced in implementing them. 3. The document concludes by discussing entrepreneurial skills, behaviors, attributes, and the differences between entrepreneurs and professional managers.
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Overview of the presentation and the team introducing the concept of entrepreneurship.
Introduction to the key concepts and definitions of entrepreneurship.
Definitions and characteristics of entrepreneurs, including various perspectives and risk factors.
Unique traits of entrepreneurs like achievement need, risk propensity, and leadership.
Entrepreneurship defined as a process of innovation and economic transformation.
Reasons for fostering entrepreneurship, including job creation and economic growth.
Different classifications of entrepreneurs based on business type, technology, motivation, growth, and development.
Personal entrepreneurial competencies grouped into achievement, planning, and power clusters.
Economic, social, and political factors influencing the growth of entrepreneurship.
Definition and focus of EDPs in strengthening entrepreneurial motivation and skills.
Reasons for the necessity of EDPs including economic growth and employment opportunities.
Goal of EDPs to develop entrepreneurs' qualities, project selection, and management skills.
Describes entrepreneurial behaviors like opportunity grasping and problem-solving.
Key attributes of successful entrepreneurs such as ambition, creativity, and perseverance.
Essential skills for entrepreneurs including problem solving, negotiating, and managing effectively.
Various programs aimed at fostering entrepreneurship in India.
Overview of the structured approach to EDPs focusing on entrepreneur identification.
Common operational problems faced by EDPs impacting their effectiveness.
Importance of training for developing new skills and attitudes in entrepreneurship.
Benefits of training including efficiency, safety, and relations among employees.
Goals of training focused on knowledge acquisition and improvement in entrepreneurship.
Various methods employed in entrepreneurial training to enhance learning.
Key steps in creating effective training programs for entrepreneurs.
Core components of training modules to equip entrepreneurs with essential skills.
Highlighted qualities essential for entrepreneurs including flexibility and determination.
Character traits important for entrepreneurs, such as decision making, honesty, and teamwork.
Comparative analysis of the roles and features of entrepreneurs and professional managers.
Final comparison highlighting the entrepreneurial drive for freedom and innovation versus management roles.
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Enterpreneurship. 01
- 1. ENTREPRENEURSHIPCHAPTER NO- 01.Presentedby:-Vikash kumarAbhishek NiranjanSwapnil KumariSonaliJitendra GuptaSarita TripathiPankaj Kumar VermaAbhishek Pratap SinghPooja GuptaKrishan Kumar
- 2. CONCEPTS AND DEFINATIONSOF ENTREPRENEURSHIP
- 3. Entrepreneur An entrepreneur is aperson who has possession of a new enterprise, venture or idea and is accountable for the inherent risks and the outcome.According to:Peter drucker : “Entrepreneur is one who always searches for change, response to it and exploit it as an opportunity”.Richard Schumpeter : Entrepreneur is one who innovator, raise money, collects inputs,Organises talent, provided leadership and set the organisation in proper order.International Labour Organisation, I. L.O(1982) : “ Entrepreneur are people who the ability to see and evaluate business opportunity; to gather necessary resources, to take advantage of them and to initiate appropriate action to ensure success”.
- 4. Various views ofthe term “Entrepreneur”1. Entrepreneur as a Innovator : The introduction of a new product in to the market.
- 5. The discovery ofa new source of supply of a raw material.
- 6. The opening ofa new market into which the specific product has not previously entered.2. Entrepreneur as an organiser :Uncertainty of profits.
- 7. Command over sufficientcapital and
- 8. Moral qualities forwork judgement , perseverance and a knowledge about the business world.Entrepreneur as a Risk taker : Entrepreneur as an agent who buys factors of production at a certain prices in order to combine them into a product with a view to selling it at uncertain prices in future.
- 9. Who is anEntreprenuer• He is a person who develops and owns his own enterprise • He is a moderate risk taker and works under uncertainty for achieving the goal. • He is innovative • He peruses the deviant pursuits • Reflects strong urge to be independent. • Persistently tries to do something better. • Dissatisfied with routine activities. • Prepared to withstand the hard life. • Determined but patient • Exhibits sense of leadership • Also exhibits sense of competitiveness • Takes personals responsibility • Oriented towards the future. • Tends to persist in the face to adversity • Convert a situation into opportunity.
- 10. The characteristics ofan unique entrepreneur are : - Need for achievement
- 11. - Highneed for power
- 12.
- 13. - Propensityto take risk
- 14. - Personalmodernity
- 15.
- 16. - Businessenterprise
- 17. - LeadershipEntrepreneurshipEntrepreneurship is the act of being an entrepreneur, which can be defined as "one who undertakes innovations, finance and business acumen in an effort to transform innovations into economic goods". A theory of evolution of economic activities. • A continuous process of economic development. • An ingredient to economic development. • Essentially a creative activity or an innovative function. • A risk taking factor which is responsible for an end result. • Usually understood with reference to individual business. • The name given to the factor of production, which performs the functions of enterprise. • Creates awareness among people about economic activity. • Generates Self-employment and additional employment
- 18. Why Entrepreneurship• To improve backwardness of the people. • Economic development of the region. • To analyze resource utilization. • Proper utilization of human potentiality. • Special attention to take up new activities. • To create self-employment and generation of employment opportunity. • Eradication of regional imbalances. • Better economic gain.
- 19. Create new jobs.Productivitythrough new technologyOpportunity for positive and significant effect.Self employmentGDP growthGlobalization Sustain economic growth ECONOMIC DEVELOPMENT
- 20. CLASSIFICATION OF ENTREPRENEURSAccordingto the types of business.According to the use of technology.According to the motivation.According to the growth.According to stage of development.
- 21. A. According tothe types of businessAgriculture entrepreneur a. Horticulture b. Dairy c. Forestry 2. Corporate entrepreneur3. Industrial entrepreneur a. Large b. Medium c. Small
- 22. Contd.4. Trading entrepreneur5. Business entrepreneur
- 23. B. According tothe use of technologyProfessional entrepreneur.2. Non-technical entrepreneur3. Technical entrepreneur
- 24. C. According tothe motivation1. Spontaneous Entrepreneur2. Motivated Entrepreneur3. Induced Entrepreneur4. Pure Entrepreneur
- 25. D. According togrowth1. Growth Entrepreneur2. Super growth Entrepreneur
- 26. E. According tothe stage of development1. First generation Entrepreneur2. Modern Entrepreneur3. Classical Entrepreneur
- 27. Personal Entrepreneurial CompetenciesThesecompetencies can be grouped into 3 main clusters and the EMPRETEC model has merged some of these competencies to derive 10 PECs. Achievement ClusterOpportunity Seeking and Initiative Risk Taking Demand for Efficiency and Quality Persistence Commitment to the Work Contract
- 28. Planning ClusterInformation SeekingGoal setting Systematic Planning and MonitoringPower ClusterPersuasion and Networking Independence and self-confidence
- 29. FACTOR THAT AFFECTENTERPRENEURSHIP GROWTHEconomic Factor CapitalLabour Raw materialMarketInfrastructure Social FactorCaste favourFamily background
- 30. Continue…EducationAttitude of thesocietyCultural value Political FactorThe Govt has to ensure the availability of required resources for the Entrepreneurship .Policies related to various economic aspect like Price , availability of capital , Labour and other input taxation affect the growth of Entrepreneurship.Promotive Govt activities like Incentives & subsidies.Govt policies like licenses, regulation, favoritism .
- 31. ENTREPRENEURSHIP DEVELOPMENT PROGRAMMESEDPmeans programmes designed to help a person in strengthening his entrepreneurial motive and in acquiring skills and capabilities necessary for playing his entrepreneurial role effectively.A programme not touching entrepreneurial motivation and behaviour cannot be called as an EDP.
- 32. Continue…..EDP primarily focuseson developing those first-generation entrepreneurs who on their own cannot become successful entrepreneur.
- 33. NEED OF ANEDPHigher rate of economic growth.Development of backward and tribal areas.Creation of employment opportunities.Improvement in the standard of living.Promoting small-scale industries.To promote women entrepreneurship.
- 34. NEED (Continue..)It coversthree major variables:- LocationTarget group andEnterprise Any of these can become the starting point for initiating and implementing an EDP.
- 35. OBJECTIVES OF EDPEDPhelps entrepreneur to:-Develop and strengthen entrepreneurial quality and motivation.Analyze small industry and small business environment.Select project/product.Formulate projects.Understand the process and procedure of setting up of small enterprise.Acquire the basic management skills.
- 36. Continue…6. Know thepros and cons of being a entrepreneur.7. Acquaint and appreciate the needed social responsibility/ entrepreneurial disciplines.8. Develop entrepreneurial culture.9. Accelerate the process of industrial and economic development.10. Transform the Indian economy.
- 37. ENTREPRENEURIAL BEHAVIOURSGrasping opportunities.Takinginitiative.Solving problems creatively.Managing autonomously.Taking responsibility for, and ownership of things.Seeing things through.Networking effectively to manage interdependence.Using judgment to take calculated risk.
- 38. ENTREPRENEURIAL ATTRIBUTESAchievement orientationand ambition.Self confidence and self esteem.Perseverance.High internal locus of control.Action orientation.Preference for learning by doing.Hardworking.Creativity.
- 39. ENTREPRENEURIAL SKILLSCreative problemsolving.Persuading.Negotiating.Selling.Proposing.Managing business/projects/situations.Strategic thinking.Intuitive decision making under uncertainty.
- 40. TYPES OF EDPIN INDIAIndustrial Motivating Programme.Entrepreneurship Development Programme.Skill Development Programme.Management Development Programme.Entrepreneurship Awareness Training Programme.Product-oriented Entrepreneurship Development Training Programme.Target group-oriented Entrepreneurship Development Training Programme.
- 41. STRUCTURING EDPIdentification andcareful selection of entrepreneurs.Developing and motivating entrepreneurial capabilities of the trainee.Equipping the trainee to identify viable industrial project/prepare project profiles or brief project reports.Equipping the trainees with basic enterprise-building skills.Imparting basic managerial skills.Helping the trainees to secure the necessary financial, infrastructural and related business assistance during the implementation of the project.
- 42. THE OPERATIONAL PROBLEMSOF EDPNo proper strategy.No local support.Non-availability of inputs.No adequate research facilities.Inconsistent programme design.No clear-cut objective.Lack of clarity in approach andLack of creativity and commitment.
- 43. ENTREPRENEURIAL TRAININGTraining isthe systematic instruction of staff at all levels in new attitudes or new skills.
- 44. IMPORTANCE OF TRAININGTheavailability of skilled workers at all levels of management.Enables the workers to perform the work more efficiently and precisely.Minimises excessive scraps, defects and wastage.Minimises the number of accidents, as unskilled or semi skilled workers.
- 45. IMPORTANCE OF TRAINING(cont…)Trainingreduces fatigue.Training enables the worker to work speedily.Training improves the good relation between employees and management.New techniques can be easily adopted by through trained employees.Standardization can be adopted.
- 46. IMPORTANCE OF TRAINING(cont…)Trainingenable employees to occupy higher position of authority.The supervision cost can be minimised.
- 47. OBJECTIVES OF TRAININGToimpart basic knowledge about the industry, production and production methods.To build the necessary skills of new entrepreneursTo assist the entrepreneur to function more effectively by exposing him to the latest concept, techniques and information.To impart customer education andTo impart knowledge of marketing goods
- 48. METHODS OF TRAININGIndividualinstructionGroup instructionLecture methodDemonstration methodWritten instructional methodConferenceMeeting
- 49. DESIGNING AN ENTREPRENEURIALTRAINING PROGRAMMESetting training objectivesTraining objectivesDeveloping course contentChoosing appropriate training methods
- 50. MODULES OF TRAININGPROGRAMMEIntroduction of entrepreneurshipMotivation trainingEssentials of management - general management - marketing management - production management - financial management
- 51. MODULES OF TRAININGPROGRAMME(cont.)Fundamentals of feasibility studyOrganizing the businessPlant visit
- 52. QUALITIES OF ANENTREPRENEURMotivation towards achievementCreativityClarityInnovativeRisk-takingFlexibilityAdaptability
- 53. QUALITIES OF ANENTREPRENEUR(cont..)DeterminationWill powerTactfulnessSelf-confidenceIntelligentinstinct
- 54. TRAITS OF ANENTREPRENEURDecision makingSetting standardsMulti taskingBuilding relationshipDedicationResolving conflictTeam playerHonesty
- 55. TRAITS OF ANENTREPRENEUR(cont…)ApproachableAppreciating skillsIntegrityTrustPassion Patience CapabilityInvolvement
- 56. ENTREPRENEUR vs PROFESSIONALMANAGERFeatures of a professional managerSpecialistSkilled, knowledgeableStrategic planningFormal communicationOrganizingControllingMotivating.
- 57. DISTINGUISHING FEATURES OFA MANAGER AND AN ENTREPRENEURMANAGERPrimary motive-want promotion, reward& power.Managers are employees(specific role)Limited scope of innovation and creativityManagerial jobs are transferableManager do not bear riskManagers need team building and leadership role.Manager need knowledge and expertise.
- 58. ENTREPRENEURPrimary motives-want freedom,goal oriented & self motivated Entrepreneurial function is organsing production.Decision making and calculated risk bearing.Has all round responsibility.Public relation and team building.High level of achievement and motivation.Innovative, imaginative soul.