1. AN PRESENTATION ON MEANING OF ENTREPRENUER, PRE-REQUISITE & QUALITIES OF SUCCESSFUL ENTREPRENUR Submitted by: Akanksha Raj Roll no:06 V semester

2. MEANING OF ENTREPRENUER, PREREQUISITE & QUALITIES OF SUCCESSFUL ENTREPRENEUR

4. Richard Carleton: “a person who buys factors of production at certain prices in order to combine them into a product with a view to sell them at uncertain prices”

6. Peter F Ducker: “One who considers the changes that take place in market as an opportunity to do business. Innovation is his tool.”

8. From above the we can conclude that Entrepreneurship is a combination of various qualities like organisation skills, innovativeness, risk-bearing, managing uncertainty, ability to bring together & use factor of production, analysing market opportunities, observing the change taking place in the market, methods & technologies & studying the tastes & preferences of consumers.

12. Mental ability: Intelligent person.

13. Organising ability: Good organisation.

14. Hard work: Ready to work for long hours.

15. Discipline: highly disciplined- everything to be in order for them.

16. Clear objectives: Regarding nature of business & products to be produced.

17. Risk taking : They like challenges.

18. Adaptability:highly flexible- adapt themselves for any conditions.

19. Emotional stability: have considerable amount of self-control- business pressure can be handled.

21. Planning

22. Organizing

23. Leading (activating)

25. The entrepreneur needs to have the ability to manage people as well. He/she has to build good relationships with all workers and needs to know who to employ in his/her business.

26. Financial skills:

27. The success of a business is measured by the profit it makes. It is essential that the entrepreneur has knowledge about managing income and costs. The long-term future success of the business is also determined by the type of investments the business makes and how successful the entrepreneur manages those investments.

28. Marketing skills:

30. Strong desire to do something new.

31. To be independent in Life.

32. Making the maximum use of technical/professional knowledge.

33. Occupational experience/background.

34. Passionate about particular activity.

35. Dissatisfaction with present job.

37. Utilizing Government grants & subsidiaries.

38. To continue ancestor business.

39. Financial assistance from Institutions.

40. Availability of resources.

41. Encouragement from big business houses.

42. Availability of sick units/ easy financial terms.

44. The Builder of Indian Industry & Entrepreneurship J R D TATA (founder of TATA group of company)

46. The Infosys legend began in 1981 when Narayana Murthy dreamt of forming his own company, along with six friends. There was a minor hitch, though-he didn't have any seed money. Luckly, like many Indian women who save secretly without their husband's knowledge, his wife Sudha-then an engineer with Tatas-had saved Rs 10,000. This was Murthy's first big break.Thedecade until 1991 was a tough period when the couple lived in a one-room house. The second break came in 1991 when Indian doors to liberalization were flung open… Murthy grabbed the opportunity with both hands and has never looked back ever since. Today, Infosys is the first Indian company to be listed on the US NASDAQ.

49. It provide large scale employment, Thus it helps in reducing the unemployment problem in the country i.e root of all socio-economic problem.

50. It helps reducing the concentration of economic power.

52. It further promotes country’s export trade i.e. an important ingredient to economic development. We can conclude that entrepreneurship serves as a catalyst. On the whole the role of entrepreneurship in economic development of a country can best be put as

53. “An economy is the effect for which entrepreneurship Is the cause”…….