Presentation on theme: "Entrepreneurship. Concept of entrepreneurship Richard Canilton conceived of an entrepreneur as a ‘bearer of risk and uncertainty. This definition explains."— Presentation transcript:
Concept of entrepreneurship Richard Canilton conceived of an entrepreneur as a ‘bearer of risk and uncertainty. This definition explains the important characteristic of an entrepreneur
An entrepreneur as one who organizes, manages and assumes the risks of a business enterprise. Joseph Schumpeter regarded entrepreneur as an innovator who carries out new combinations to initiate and accelerate the process of economic development.
Characteristics of entrepreneurs Innovative ability Desire to accomplish Energetic activity. Risk taking Perception of good ideas Future-oriented Desire for responsibility Skill in organizing Flexibility Self-confidence
Profile of an Entrepreneur CharacteristicsTraits Self-confidence Result orientation Risk-taking Leadership Originality Future outlook Independence, Individuality, optimism. Need for achievement, profit-oriented, persistence, perseverance, determination, hard-work, drive, energy, initiative. Risk taking ability, likes challenges. Capacity to lead, gets alongwith others, responsive to suggestions and criticism. Innovative, creative, flexible, open-minded, versatile, knowledgeable. Foresighted, perceptive.
Importance of Entrepreneurship The entrepreneur is an innovator. The entrepreneur stands at the centre of the whole process of economic development. Entrepreneur is an agent of progress in the society.
Role and Functions of an Entrepreneur Innovation Bearer of Risks and Uncertainty Promoter Supplier of Capital Management
Qualities of a Successful Entrepreneur Wide knowledge Foresight. Open Mind Adaptability Business Morality and Social Responsibility Dependability Innovative AttitudeAttitude Self-Confidence Business Connections and GoodwillGoodwill Leadership Qualities Leadership
Circumstances Favouring Entrepreneurship Independent way of life Achievement orientation Implementation of ideas Insecurity of job Family business Government encouragement Risk-Taking