Académique Documents
Professionnel Documents
Culture Documents
Index
Introduction to entrepreneurship
Definition History
Entrepreneur- a perspective
Defining entrepreneurship Urges of an entrepreneur
Importance Of an entrepreneur
Writers view For entrepreneur Entrepreneurial combinations
Elements of entrepreneurship
Example Concept of entrepreneurship- summary
Conclusion
references
Introduction To Entrepreneurship
Entrepreneurship is the act and art of being an entrepreneur, or one who undertakes innovation and introduces new things, finance and business acumen, in an effort to transform innovations into economic goods.
Definition
According to Joseph A. Schumpter:
The entrepreneur in an advanced economy is an individual who introduces something new in the economy-a method of production not yet tested by experience in the branch of manufacture concerned, a product with which consumers are not yet familiar, a new source of raw material or of new markets and the like
History
The concept of Entrepreneurship originated long back in ancient times.
Under British colonization, during freedom struggle and even post independence, entrepreneurship grew at a rapid speed. After the liberalization and during the new economy era, it flourished significantly.
Entrepreneur- A perspective
Entrepreneur is one who exercises initiative by organizing a venture to take benefit of an opportunity and, as the decision maker, decides what, how and
Defining Entrepreneurship
The capacity and willingness to develop , organize and manage a business venture along with any of its risk in order to make a profit.
It is an act undertaken by an entrepreneur.
Such act may result in new organizations or may be part of revitalizing mature organizations in response to a perceived opportunity.
Urges of an entrepreneur
They are as follow:
Conducive to development
Importance of an Entrepreneur
They are as follow:
More employment
opportunities
Economic growth and better standard of living
Innovates
Raises wealth and brings together the inputs
Selects managers and establishes organization
Entrepreneurial combinations
BEHAVIOURS
ATTRIBUTES
SKILLS
Elements of Entrepreneurship
They are as follow:
Innovation- An Entrepreneurship involves conversion of new ideas , new thoughts , new product or new quality into reality. Risk taking- It involves Undertaking of a new venture business or energizing of an existing unit.
Vision- It involves imagination of future and thus planning for the same. An entrepreneur is needed to be optimistic and creative before practicing such ideas
into reality.
Organizing skill- It involves an organizing skill of the entrepreneur. It results in better and handling of
Example
A classic example can be stated which is 155 years old .
Jamshedji nusserwanji tata- An uncommon man still inspires millions of people now and will forever. He gave life to his dream and today Tata organization occupies one of the prominent position in India.
His philosophy, idea, firm belief, standards of integrity, survival and prosper will continue to motivate the future generations especially the entrepreneurial blood.
Characteristics of Entrepreneurship
Accepting challenges Decision making
Basics Of An Entrepreneur
ORGANISATION
MANAGEMENT
PERSON
PROCESS OF ACTION
OBJECT
CONCLUSION
It can be concluded in a nutshell that:Entrepreneurship is finding a ray of hope in probably every given situation, tries to take best out of best, art of developing creative ideas, putting it into practice and thus converting risky venture into a profit earning organization.
REFERENCES
Dynamics of entrepreneurial development and management- by vasant desai. Wikipedia
Business dictionary Investopedia