Entrepreneurship development

Definition Cantillion “He is an important agent of production who gets together other factors of production. He is the economic agent who unites all mean of production the labour, the capital and he finds value of products which results from their employment, reconstitution of the capital that he utilises, the interest and the rent which he pays as well as profits belonging to him self.”

Types of entrepreneurs Entrepreneur Intrapreneur Copreneurs Netpreneur/Ontrepreneur

Difference between the entrepreneur and intrapreneur An entrepreneur is an independent businessman whereas an intrapreneur is semi-dependent on the promoters/owners of the corporation. An entrepreneur himself raises the necessary capital from various sources and guarantees the return to investors/creditors. On the other hand, an intrapreneur neither raises the capital nor guarantees any returns to the suppliers of capital. An entrepreneur bears full risk of his business whereas an intrapreneur does not fully bear the risk of the business. He develops and operates. An entrepreneur operates from outside of an organisation whereas an intrapreneur is an organisation man, operating from within the organisation. An entrepreneur is more concerned with doing routine work and sometimes he may not know important details of his own business while intrapreneur acts as a specialist in field and serves as an professional. Entrepreneur operates with a strong authoritarian back as compare to intrapreneur.

Copreneurs and its features The phenomenon of married couples working together in a business is as old as the family itself. When a married couple share ownership, commitment and responsibility for a business, they are called copreneurs. However, the term copreneurs represents more than the simple equation of marital partner plus business partner. As subset of family business, co-entrepreneurial couples represents the dynamic interaction of the systems of love and work. The most important features of copreneurship are the following : In such ventures couples struggle to establish equality in their relationship. The wives still shoulder more of the domestic responsibilities. The extent of conflict among such couples is no more than in the general population. Wives are more willing to sacrifice the career development to reduce conflicts. The satisfaction in marriage is more dependent on perceived equity than on equality. Finally, it has been demonstrated that martial satisfaction increases when both spouses are emotionally supportive of each other’s careers

Netpreneur/Ontrepreneur Setter of online Buisness

Features of Entrepreneur Entrepreneurial Behaviours Entrepreneurial Attributes Entrepreneurial Skills

Entrepreneurial Behaviours includes Grasping opportunity Taking initiative Solving problems Managing autonomously Taking responsibility for, and ownership of, things Seeing things through Networking effectively to manage interdependence Putting things together creatively Using judgement to take calculated risk

Entrepreneurial Attributes includes Achievement, orientation and ambition Self confidence and self esteem Perseverance High internal locus of control (autonomy) Action orientation Preference for learning by doing Hard-working Determination Creativity

Entrepreneurial Skills includes Creative problem-solving Persuading Negotiating Selling Proposing Holistically managing business/projects/situations Strategic thinking Intuitive decision-making under uncertainty Networking

Characteristics or Qualities of a Successful Entrepreneur Hard Work Desire to Achieve High Goals Mental Ability Clear Objectives Business Secrecy Optimistic Nature Communication Ability Independence

Contd - Technological knowledge Good Foresight Good Organiser Good Developer Good Facilitator

Types/Kinds of Entrepreneurs Innovating Entrepreneur Imitative or Adoptive Entrepreneurs Fabian Entrepreneurs Drone Entrepreneurs Individual or Solo Entrepreneur Institutional Entrepreneurs Entrepreneurs by Inheritance

Contd. Technologist Entrepreneurs/Inventors Buyer Entrepreneurs Challengers Forced Entrepreneurs New or first generation entrepreneurs Established entrepreneurs Male/Men entrepreneurs Female/Women entrepreneurs Rural and Urban entrepreneurs Large scaled & Small scaled entrepreneurs

Role/Functions of an Entrepreneur Innovation Risk bearing or Risk taking Organising and management Leadership Decision Making Business Planning

Kilby’s Reformation I)Exchange relationship Perceiving market opportunities Gaining command over scarce resources Purchasing inputs Marketing of the products and responding to competition (II)Political Administration Dealing with public bureaucracy (Concessions, licences, taxes) Managing human relations within the firm Managing Customer and Supplier relations (III) Management Control Managing finance Managing production (control by written records, supervision, co-ordinating input flows with orders, maintenance.) Acquiring and overseeing assembly of the factory. (IV) Technology Industrial engineering (minimising inputs with a given production process) Upgrading process and product quality Introducing new production techniques and products.

Leadership Styles Autocratic leadership Participative leadership Free rein leadership or Laissez faire leadership

Autocratic leadership