1. Subject Name: Management and Entrepreneurship Subject Code:10AL51
Prepared By: Mrs.Kala & Mrs.Robina Gujral Bagga
Department:ECE
Date : 10/11/2014
4/28/2017

2. UNIT 5 ENTREPRENEURSHIP
4/28/2017

3. OUTLINE Meaning of Entrepreneur Evolution of the Concept
Functions of an Entrepreneur
Types of Entrepreneur
Intrapreneur – an emerging Class
Concept of Entrepreneurship
Evolution of Entrepreneurship
Development of Entrepreneurship
Stages in entrepreneurial process
Role of entrepreneurs in Economic Development
Entrepreneurship in India
Entrepreneurship – its Barriers
4/28/2017

4. A Model of entrepreneurship
Initiates
Organises
Manages
Controls
Risk Taking
Innovates
Pools up resources
Entrepreneur
Business
Enterprise
Individual
4/28/2017

5. Peter F. Ducker: An entrepreneur is one who always searches for changes, responds to it and exploits it as an oppurtunity
4/28/2017

6. Characteristics of Entrepreneur
Action-oriented, highly motivated & ready to take risk at all levels to achieve the goal
Should have unwavering determination & commitment
Creativeness & result oriented, hard working
Accepts responsibilities with enthusiasm
Self confident, dedicated & self disciplined
Both thinker & doer, planner & worker
Future vision, intelligent, imaginative & self-directed
4/28/2017

7. Qualities of an Entrepreneur
Success & achievement
Facing uncertainities
Independent
Risk bearer
Flexible
Opportunity explorer
Self confident
Planner
Motivator
Stress taker
4/28/2017

8. Functions of an Entrepreneur
Primary Function
Other Functions
Functions important for developing countries
Planning
Diversification of production
Management of scarce resources
Organizing
Expansion of the enterprise
Dealing with public
Decision making
Maintaining cordial employer & employee relations
Engineering
Management
Talking labor problems
New product development
Innovation
Coordination with outside agencies
Parallel oppurtunities
Risk bearing
Marketing
Leading
Controlling
Customer relation
4/28/2017

9. Types of Entrepreneur 4/28/2017 According to the type of business
Business Entrepreneur
Trading Entrepreneur
Industrial Entrepreneur
Corporate Entrepreneur
Agricultural Entrepreneur
Retail Entrepreneur
Service Entrepreneur
4/28/2017

10. Types of Entrepreneur 4/28/2017 According to the use of technology
Technical/Non technical Entrepreneur
Professional Entrepreneur
Low tech & High tech Entrepreneur
4/28/2017

11. Types of Entrepreneur 4/28/2017 According to motivation
Pure Entrepreneur
Induced Entrepreneur
Motivated Entrepreneur
Spontaneous Entrepreneur
4/28/2017

12. Types of Entrepreneur 4/28/2017 According to the growth
Growth Entrepreneur
Super growth Entrepreneur
4/28/2017

13. Types of Entrepreneur 4/28/2017 According to the stages of development
First generation Entrepreneur
Modern Entrepreneur
Classical Entrepreneur
4/28/2017

14. Types of Entrepreneur 4/28/2017 According to the area
Urban Entrepreneur
Rural Entrepreneur
4/28/2017

15. According to the age & gender
Types of Entrepreneur
According to the age & gender
Young Entrepreneur
Old Entrepreneur
Male Entrepreneur
Female Entrepreneur
4/28/2017

16. Types of Entrepreneur 4/28/2017 According to the scale of operation
Small scale Entrepreneur
Medium scale Entrepreneur
Large scale Entrepreneur
4/28/2017

17. Types of Entrepreneur 4/28/2017 Other type
Professional & non professional Entrepreneur
Modern Entrepreneur
Traditional Entrepreneur
Skilled & non-skilled Entrepreneur
Forced Entrepreneur
Inherited Entrepreneur
National/international Entrepreneur
4/28/2017

18. Elements of Intrepreneurship
INTRAPRENEUR
Intrapreneurship is the entrepreneurship with in an existing business structure.
Elements of Intrepreneurship
New business venturing
Innovations
Self-renewal
Proactiveness
4/28/2017

19. Comparison Of Intrapreneur, Entrepreneur And Managers
Point
Intrapreneur
Entrepreneur
Manager
Goal
management
Independent, innovates new ideas
Independent, starts new venture & leads direct involvement
Delegates & supervises more than direct involvement
Status
Not concerned about traditional status, but wants recognition
Not concerned about status
Concerned about status symbol
Risk
Owns moderate risk
Bears all the risk & uncertainty
Does not bear any risk
Rewards
Gets fixed reward for his work. Many get extra for his innovations
Since there is risk, he may get profit or loss depending on outcome
Works for salary for his service which is fixed and definite.
Innovation
Innovative
Very innovative
Need not be innovative. He manages the ideas of top management
Decision Making
Moderate, limited to his work
Very much involved in decision making
Delegates the decisions of top management
4/28/2017

20. Characteristics Entrepreneurship
Entrepreneurship is a process undertaken by an entrepreneur to augment his business interests.
Characteristics Entrepreneurship
Innovation
Risk-taking
Skillful management
Organization
Decision making
Making the enterprise a success
4/28/2017

21. Stages in entrepreneurial process
Identification of an opportunity
Evaluation of the opportunity
Preparation of the business plan
Determination and organizing the resources
Management of the enterprise
4/28/2017

22. Barriers of entrepreneurship
Lack of capital
Lack of technical knowledge
Economic business cycles
Non availability of raw materials and resources
Government regulations
Obsolescence of technology or idea
Unstable and unpredictable markets
Globalisation and entry of foreign goods
Risk
4/28/2017