Introduction to entrepreneurship: What are Entrepreneurship Traits, Define Entrepreneur decision making process What is the Role of entrepreneurship in economy Analyze Concept of start up and forms of ownership Role of Women entrepreneur and challenges

1. Entrepreneurship
UNIT I MBA I SEM

2. Agenda
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Traits and Definition
Decision Making Process
Role of Eship in Economy
Concepts of Startups
Forms of Ownership
Women entrepreneur and challanges

3. 3
Background
Entrepreneurship is the process of creating and
managing a new business venture with the goal of
generating profit and creating value. It involves
identifying a market opportunity, developing a
business plan, raising capital, and executing the
plan to create a successful and sustainable
business.

4. An example of entrepreneurship with a simple case could be someone who wants to start a small
business selling homemade candles. This person has identified a market opportunity based on
their interest in candles and the growing popularity of handmade products. They have also done
some research and identified a target market of people who value unique and high-quality
candles.
To start their business, the entrepreneur would need to develop a business plan, including details
on product development, pricing, promotion, and distribution. They would need to source
materials, create a product line, and determine pricing that is attractive to their target market
while still generating a profit. They would also need to develop a marketing strategy, which could
include social media advertising, participation in craft fairs, and word-of-mouth marketing.
In order to finance their business, the entrepreneur could use personal savings, take out a small
business loan, or crowdfund their startup costs. Once they have the necessary funding, they can
start selling their candles through various channels, such as an online store, local markets, and
pop-up shops.
As the business grows, the entrepreneur will need to manage their finances, hire employees if
necessary, and continue to innovate their product line to keep up with changing market trends
and customer preferences. With persistence, creativity, and good management, this small
business can grow into a successful and sustainable venture.
4

5. Entrepreneurship is often associated with
innovation, risk-taking, and creativity, and it can
take many forms, from starting a small home-
based business to launching a large multinational
corporation. Successful entrepreneurship
requires a combination of entrepreneurial traits,
such as creativity, risk-taking, and persistence,
as well as a range of business skills, including
finance, marketing, and management.
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6. 1. Creativity and Innovation: Entrepreneurs are often able to see
opportunities that others miss and come up with new and innovative
solutions to problems.
2. Risk-taking: Entrepreneurs are comfortable with taking calculated
risks and making decisions in the face of uncertainty.
3. Persistence: Entrepreneurs are often highly motivated and driven to
succeed, even in the face of setbacks and obstacles.
4. Self-confidence: Entrepreneurs have a strong belief in their abilities
and their vision for their business.
5. Adaptability: Entrepreneurs are able to adjust their strategies and
plans in response to changing market conditions and customer needs.
Leadership: Entrepreneurs are able to inspire and motivate others to work
towards a common goal.
Entrepreneurial traits
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7. 1. Identifying the business opportunity: The first step is to identify a potential business
opportunity based on market trends, customer needs, and personal interests and skills. This may
involve conducting market research, analyzing industry trends, and evaluating the competition.
2. Evaluating the opportunity: Once an opportunity has been identified, the entrepreneur must
evaluate its potential by considering factors such as the size of the market, the level of
competition, and the potential profitability of the venture. This may involve conducting a
feasibility study or developing a business plan to assess the viability of the opportunity.
3. Developing a strategy: After evaluating the opportunity, the entrepreneur must develop a
strategy for pursuing it. This may involve determining the product or service offering, setting
pricing and marketing strategies, and identifying potential sources of funding.
4. Implementing the strategy: Once the strategy has been developed, the entrepreneur must
put it into action. This may involve securing financing, developing the product or service,
establishing a distribution network, and implementing a marketing plan.
5. Monitoring and adjusting: As the venture progresses, the entrepreneur must continually
monitor its performance and adjust the strategy as necessary. This may involve making changes
to the product or service offering, adjusting the pricing or marketing strategies, or revising the
business plan.
6. Making exit decisions: Finally, the entrepreneur must make decisions about exiting the
venture. This may involve selling the business, merging with another company, or shutting down
the venture if it is no longer viable.
Entrepreneur decision making process
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8. 1. Job Creation: Entrepreneurs create jobs in the economy,
both directly through the businesses they establish and
indirectly through the companies they do business with.
2. Innovation: Entrepreneurs are often the driving force
behind innovation in the economy. They identify new
opportunities, develop new products and services, and bring
new ideas to the marketplace.
3. Economic Growth: Entrepreneurship is a key driver of
economic growth. New businesses bring new goods and
services to the market, which increases economic output and
expands the tax base.
Role of Eship in Economy
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9. 4. Competition: Entrepreneurs introduce
competition in the marketplace, which can lead to
increased efficiency, lower prices, and improved
quality.
5. Wealth Creation: Successful entrepreneurs
can create significant wealth for themselves, their
employees, and their investors. This wealth can
be reinvested in the economy, creating even
more economic activity.
Role of Eship in Economy
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10. Entrepreneurship in Indian Context
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1.Startup Ecosystem: India has a thriving startup ecosystem, with cities like Bangalore, Delhi, and Mumbai
emerging as hubs for entrepreneurship. Several startup incubators, accelerators, and co-working spaces have
also
emerged, providing resources and support to aspiring entrepreneurs.
2.Youth Entrepreneurship: India has a large youth population, which has led to a surge in youth
entrepreneurship.
Many young people are starting their own businesses, driven by a desire to pursue their passion and create
their own
career path.
3.Government Support: The Indian government has taken several initiatives to promote entrepreneurship in
the country. The Startup India initiative, launched in 2016, provides funding, mentorship, and other support to
startups. Other initiatives include the Standup India Scheme, which promotes entrepreneurship among women
and marginalized
communities.
4.Fintech: India has seen a rapid growth in fintech startups, with many companies leveraging technology to
provide innovative financial solutions to consumers. This has been driven by increasing access to
smartphones and the internet, which has led to the emergence of digital payments and other fintech
innovations.
5.Social Entrepreneurship: India has a strong tradition of social entrepreneurship, with many entrepreneurs

11. A startup is a company or organization that is
typically founded by entrepreneurs to develop
and bring to market innovative products,
services, or business models. Startups are often
characterized by their focus on growth and
scalability, as well as their ability to disrupt
traditional industries or business models.
STARTUPS
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12. Innovation: Startups are often founded with the goal of developing and scaling
innovative products or services. This requires a focus on research and development,
as well as a willingness to take risks and try new approaches.
Scalability: Startups are designed to grow rapidly, which means they need to be
scalable. This often involves leveraging technology to automate and streamline
processes, as well as developing strategies for marketing and customer acquisition.
Funding: Startups typically require significant funding to get off the ground and grow.
This funding can come from a variety of sources, including venture capital firms, angel
investors, and crowdfunding platforms.
Lean Startup Methodology: The lean startup methodology is a popular approach to
building startups, which involves developing a minimal viable product (MVP) and then
iterating and improving it based on customer feedback.
Disruption: Many startups are focused on disrupting traditional industries or business
models by offering new and innovative solutions. This often involves challenging
established players in the market and overcoming significant barriers to entry.
Concept of Startups
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13. Sole Proprietorship: This is a business owned and operated by a single individual.
The owner has complete control over the business and is responsible for all profits and
losses. A sole proprietorship is the simplest form of ownership, but the owner also has
unlimited liability and is personally responsible for all debts and legal issues.
Partnership: A partnership is a business owned and operated by two or more
individuals. The partners share profits and losses and are jointly responsible for the
business. A partnership can be a general partnership, where all partners have equal
say in the business, or a limited partnership, where some partners have limited liability
and are not involved in the day-to-day operations of the business.
Corporation: A corporation is a separate legal entity from its owners, with its own
rights and responsibilities. The owners are shareholders who elect a board of directors
to oversee the management of the business. Corporations can issue stock to raise
capital, and the shareholders have limited liability for the debts and legal issues of the
business.
Forms of Ownership
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14. Limited Liability Company (LLC): An LLC is a hybrid of a partnership and a
corporation, providing the flexibility and tax advantages of a partnership with the
limited liability of a corporation. LLCs are owned by members, who can participate in
the management of the business or hire a manager to run it.
Cooperative: A cooperative is owned and operated by a group of individuals or
businesses who share in the profits and decision-making of the business. Cooperatives
can take many forms, including consumer cooperatives, worker cooperatives, and
producer cooperatives.
Forms of Ownership
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15. Sole Proprietorship: Many small businesses in India are operated as sole
proprietorships. For example, a local vegetable seller, a street vendor selling snacks,
or a small grocery store run by a single owner.
Partnership: Many Indian law firms and accounting firms are organized as
partnerships. One example is the law firm, Amarchand & Mangaldas & Suresh A.
Shroff & Co., which is a partnership between two families.
Corporation: Some of the largest Indian companies are organized as corporations,
including Tata Group, Reliance Industries, and Infosys. These companies have a
board of directors, and their shares are traded on stock exchanges.
Limited Liability Company (LLC): Many Indian startups are organized as LLCs, as
this structure provides the benefits of both partnerships and corporations. For
example, Ola Cabs, a ride-hailing service, and Paytm, a digital wallet and e-
commerce platform, are both LLCs.
Cooperative: There are several cooperative societies in India, including milk
cooperatives, housing cooperatives, and credit cooperatives. One example is the
Amul Dairy cooperative, which is owned by more than 3 million dairy farmers and is
one of the largest dairy producers in the world.
Here are some examples of Indian companies with different forms of
ownership:
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16. Limited Access to Funding: Women entrepreneurs often face challenges in accessing
the capital needed to start or grow their businesses. This can be due to a lack of access
to traditional sources of funding such as bank loans, venture capital, or angel investors.
Discriminatory lending practices, such as requiring collateral that women may not have,
can also be a barrier to funding.
Gender Bias and Stereotypes: Women entrepreneurs may face gender bias and
stereotypes, which can affect how their businesses are perceived and how they are
treated by investors, customers, and suppliers. This can include assumptions about
women's abilities, skills, and commitment to their businesses.
Work-Life Balance: Women entrepreneurs often face challenges in balancing their
personal and professional responsibilities, especially if they have children or other
caregiving responsibilities. This can impact their ability to devote time and energy to
their businesses.
Limited Networks: Women entrepreneurs may have limited access to business
networks and mentorship opportunities, which can make it more difficult to find
customers, investors, and business partners.
Cultural and Social Barriers: In some cultures and communities, women may face
cultural or social barriers to starting and running a business. This can include
discrimination, restrictive gender roles, and limited opportunities for education and
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Women entrepreneur and challenges