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Module 1 - part 1.pptx

  1. EntrepreneurshipDevelopment IntroductionToEntrepreneurship
  2. MODULE1-SYLLABUS Entrepreneur andEntrepreneurship Characteristics ofEntrepreneurs Types ofEntrepreneurs RoleofEntrepreneur inEconomic Development FactorsAffecting Entrepreneurial Growth in India
  3. ENTREPRENEURANDENTREPRENEURSHIP ENTREPRENEUR Joseph Schumpeter defines Entrepreneurs as individuals who exploit market opportunitythroughtechnicaland/ororganizationalinnovation. Innovation Risk Taking Profit Growth
  4. ENTREPRENEURSHIP The purposeful activity of an individual or group of associated individuals, undertaken to initiate, maintain or aggrandise profit by production or distribution of economicgoodsandservices.–A.H.Cole Actofbeing entrepreneur. Creating something new, organizing, co-ordinating and undertaking risk and handlingeconomicuncertainty.
  5. CHARACTERISTICSOFENTREPRENEURS Decision Making RiskTaking Innovation Perseverance Integrity& Reliability Goal Orientated Commitment Responsible Driveto Achieve & Growth Initiative Self Confidence Dynamism Flexible Attitude to Planin Advance
  6. TYPESOFENTREPRENEURS BasedontheTypeof Business • Trading Entrepreneur • Manufacturing Entrepreneur • Agricultural Entrepreneur • Retail Entrepreneurs • Service Entrepreneur • Social Entrepreneur BasedontheSizeof Enterprise • Small-Scale Entrepreneur • Medium-Scale Entrepreneur: • Large-Scale entrepreneur: BasedonGender • MenEntrepreneurs • Women Entrepreneurs • Transgender Entrepreneurs BasedonOwnership • Private Entrepreneur • JointEntrepreneurs BasedontheUseof Technology • Technical Entrepreneur • Non-Technical Entrepreneur
  7. TYPESOFENTREPRENEURS According totheStagesof Development • FirstGeneration Entrepreneur • ClassicalEntrepreneur • Inherited Entrepreneurs • ModernEntrepreneurs or Innovative Entrepreneurs According toMotivational Aspects • PureEntrepreneur • InducedEntrepreneur • Motivated Entrepreneur • Spontaneous Entrepreneur
  8. BasedonClarenceDanhofClassification: TypesofEntrepreneurs Innovating Entrepreneurs Fabian Entrepreneurs Imitative Entrepreneurs Drone Entrepreneurs
  9. RoleofEntrepreneurinEconomicDevelopment CapitalFormation. GenerateEmploymentOpportunities. BalancedRegionalDevelopment. Reduces theConcentrationofEconomicPower. EncouragestheEffectiveUtilisationofCapitalandNatural Resources. PromotesExportTrade.
  10. Capital Formation • Entrepreneurs mobilize the idle savings of the public through the issues of industrial securities. • Investment of public savings in industry results in productive utilization of national resources. • Thus, an entrepreneur is the creator of wealth.
  11. Generate employment opportunities • Entrepreneurs generate employment both directly and indirectly. • Directly, self-employment as an entrepreneur offers the best way for independent and honorable life. • Indirectly, by setting up large and small scale business units they offer jobs to millions. • Thus, entrepreneurship helps to reduce the unemployment problem in the country.
  12. Balanced regional development • Entrepreneurs in the public and private sectors help to remove regional disparities in economic development. • They set up industries in backward areas to avail various concessions and subsidies offered by the central and state governments. • Public sector steel plants and private sector industries by Tatas, Birlas and others have put the unknown places on the international map.
  13. FactorsAffectingEntrepreneurialGrowthinIndia Factors Economic Non- Economic Social Psychological and personal Cultural Political
  14. Economic factors These factors are important in influencing the economic stability and growth of a country. • Capital (to buy land, RM,create product and services) • Labour (Skilled labour, quality and quantity) • Infrastructure (eg: Shipping facilities) • Raw material ( eg: Furniture industry)
  15. Non- economic factors • Cultural : (The cultural values of a country also impact the growth of entrepreneurship. If the culture has a leaning toward the growth of the economy and money-making business, there are higher chances of entrepreneurs flourishing in the country) • Social : An Entrepreneurial Venture Has The Ability To Grow More In Places Where The Environment Is Flexible And Liberal. Every Society Formulates Its Own Norms, Rules And Regulations. These Values, In Turn, Act As A Social Environment For Entrepreneurial Activities. • Entrepreneur Should Always Try To Work Keeping In Mind That The Social Values And Rules Are Complied With While Fulfilling Business Objectives, Or Earning Profits Through The New Idea.
  16. • Psychological factors (need for achievement, growth, motivation for both employees & entrepreneur) • Political factors (govt.subsidies, sez, social schemes) • Personal factors (ability, creativity of the individual)
  17. Assignment : 1 1) The common personality traits of a successful entrepreneur. (Submit on 28th March 2023)