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Dynamics

of entrepreneurship: Commitment & determination: Leadership Dynamics of entrepreneurship: Opportunity obsession: Tolerance of risk Dynamics of entrepreneurship :Ambiguity & uncertainty; Creativity , self-reliance and ability to adapt

Dynamics

of entrepreneurship-Support from significant others ;motivation to excel Intrapreneurship and Entrepreneurship Entrepreneurship project Method for generating ideas Creative problem solving techniques Lateral thinking Analytical skills

Internal Marks:40 marks Group assingment-20marks Individual assingment-10 marks Attendance-10marks Date of submission:31 march2012
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End term exam:60 marks

An

economist defines an entrepreneur as one who brings resources, labour ,material and other assets into combinations that make value greater than before and also one who introduces changes , innovations and new order. A psychologist defines an entrepreneur as a person who is typically driven by some forces , which creates a desire to obtain or attain something.

sociologist defines entrepreneur as a person whose actions would determines his social status and who contributes to the development of the society. Management experts define entrepreneur as a person who has vision and generates an action plan to achieve it.

Entrepreneur is an individual who takes risks and starts something new.

1755 1800 1921 1930 1934 1973

Cantillon say Knight Weber Joseph Schumpeter Kirzen

A person bearing risk Agent combining all factors of production Recipient of pure profit Innovator Ability to identify new opportunities Contributes to movement towards equilibrium

1982
1987 1920 1991

Mark Casson
Stevenson &Sahlman Gartner Bygrave &Hofer

Judgment decision maker in co-ordinating scarce resources


The relentless pursuit of opportunity Action taken to create organization Characteristics of the entrepreneurial process

According

to schumpeter innovation is not same as invention , it can be any of the following: The introduction of a new product Adoption of new technology Opening up of a new market Finding of new source of supply Bringing about new organization of an industry.

According

to Frederick Harbison an organization which comprises all the people required to perform the entrepreneurial function like: Managing risk and handling of economic uncertainty Planning and innovation Coordination,administration and control Routine supervision

Peter

Drucker defines an entrepreneur as one who always search for change ,responds to it ,and exploits it as an opportunity. Max Weber defined entrepreneur innovation as an outcome of thoroughgoing rationalizing of every aspect of his enterprise. According to David McClelland ,entrepreneur are high on need for achievement(nAch).

Le

Vines shifts the emphasis from prevalent values to the social structure for need for achievement. Thomas Cochran considers entrepreneurship to represent a model personality which is a consequence of prevalent cultural values , role expectation and social sanctions. John Kunkel consider both behavioral and structural approach to entrepreneurship.

Vision
Knowledge Desire

to succeed Independence Optimism Value addition Leadership Hardworking Risk taking ability

Commitment

and determination Desire of responsibility Opportunity obsession Tolerance for risk ,Ambiguity and uncertainty Self- confidence Creativity and flexibility

Desire

for immediate feedback High level of energy Motivation to excel Orientation to the Future Willingness to learn from Failure Leadership ability

Technical skills Writing Oral communication Interpersonal Technology Ability to organize Networking Coaching Guiding
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Business management skills: Planning and organizing Decision making Controlling Negotiating Human relations Financing Marketing Venture Launch Managing Growth
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Personal

skills: Discipline Risk taking Innovating Change oriented Persistent Visionary leader