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2. INTRODUCTION TO ENTREPRENEURSHIP
The capacity and willingness to develop, organize and
manage a business venture along with any of its risks in order
to make a profit. The most obvious example of
entrepreneurship is the starting of new businesses.
In economics, entrepreneurship combined with land, labour,
natural resources and capital can produce profit.
Entrepreneurial spirit is characterized by innovation and risk-
taking, and is an essential part of a nation's ability to succeed
in an ever changing and increasingly competitive global
marketplace.
A person who sets up a business or businesses, taking on
financial risks in the hope of profit is called ENTREPRENEUR.
3. TYPES OF ENTREPRENEUR
INNOVATIVE ENTREPRENEUR : Such entrepreneurs introduce
new goods or new methods of production or discover new
markets or newly organise their enterprise. Entrepreneurs in
this groups are characterized by aggressive assembly of
information for trying new combination of factors.
Imitative or adoptive entrepreneur : These people imitate
techniques and technology innovated by others.
Entrepreneurs of this trait are reactive in nature and are ready
to adopt to innovation happening around.
Fabian entrepreneur : accept change only when they feel
threatened that failure to do so would result in losses. They
are imitative by nature but not determinant and also lack in
power.
4. Drone entrepreneur : these are entrepreneur who refuse to
accept to adopt to changes adopted by the competitors.
When competition increases they are pushed out of the
market as it becomes uneconomical for them to carry their
business further due to financial crisis.
5. NINE PERSONALITY TYPES OF
ENTREPRENEURS
Improver : when entrepreneur continuously focuses on
development of business then he tends to improve overall
economy through development in business process.
Advisor : these are entrepreneurs who provide high level
assistance to customers in market. Main motto of these
entrepreneur is to provide vale addition information required
by customers.
Superstar : he is kind of person who tends to attract attention
through his charismatic features example CEO, MD of
organization.
Artist : these kind of entrepreneurs are reserve by nature but
are suitable for the jobs which require creativity such as web
6. Visionary : visionary entrepreneur are futuristic in nature, they
will have high degree of curiosity to understand changes
happening in world. They prefer taking initiative and like to be
in line with competitive environment.
Analyst : analyst entrepreneur is a person one who believes in
analyzing the existing and tries to maintain status quo and
bring improvement.
Fireball : entrepreneur running business which is composed of
life, energy, optimism and one who believes in bringing
change by changing mindset of customers. E.g. Ad agency.
Hero : these are kind of entrepreneurs who have ability to
lead and run their business through challenges.
Healer : these provide nurturing and harmony to the
business. They have an uncanny ability to survive and persist
7. BUISNESS INCUBATOR
A business incubator in business speak is a company that
helps new and start-ups companies to develop by providing
services such as management training or office space.
business incubators can be defined as a catalyst tool for either
regional or national economic development. These companies
are categorizes their as the following five incubator types:
academic institutions; non-profit development corporations;
for-profit property development ventures; venture capital
firms, and combination of the above.
8. TOP BUISNESS INCUBATORS IN INDIA
Centre for Innovation, Incubation& Entrepreneurship (CIIE) -
IIM Ahmedabad
Set up in 2001
Since inception CIIE has 15-odd innovations grow out of the
incubation centre in varied technologies.
Society for Innovation and Entrepreneurship (SIE)- IIT Bombay
Set up in 2004
It currently has 16 companies under its incubation
programme
9. Technopark TBI
More than 165 start-ups incubated in last 9 years
Focus Area: Technology business start-ups
Venture Centre
A CSIR Initiative for technology businesses (inventors and
scientist entrepreneurs).
Focus Area: Technology start-ups offering products and services
exploiting scientific expertise in the areas of materials, chemicals
and biological sciences & engineering.
Amity Innovation Incubator
The Amity Innovation Incubator is a pioneering concept in
the context of Indian Universities. Supported by DST,
Ministry of Science & Technology
Read Herring Global winner, Tata NEN and NASSCOM
Innovation Awards to name a few.
10. FUNCTIONS OF ENTREPRENEUR
Functions
of
entrepren
eur
Risk taking
Innovate
Analyze
opportunity
Strategies to start
venture
Develop
business plan
Acquir
e
resourc
es
Start
venture
Develop
venture
Direct activities
of firm
Supervis
e and
control
14. CONCLUSION
To become a successful entrepreneur firstly we have to learn
tiny qualities that must be required to become an
entrepreneur an grow our business.
A capable entrepreneur can always shape his or her own
destiny.
Entrepreneurs must be flexible in order to adapt to changing
trends, markets, technologies, rules, and economic
environments.
True entrepreneurs face bureaucracy, make mistakes, receive
criticism, and deal with money, family, or stress problems. But
they still stick to their dreams of seeing the venture succeed.