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Entrepreneur ..

An entrepreneur is the person who takes risks and start something new.

Entrepreneurship

entrepreneurship is the process of identifying and starting a new business venture, sourcing and organizing the required resources, while taking both the risks and rewards associated

with the venture.

Entrepreneur .. “ An entrepreneur is the person who takes risks and start something new. ”

Competencies of an Entrepreneur

Confidence

• Risk taker

• Self confident • Positive

• Persuasive

Competition • Competitive • Takes initiative • Goal-driven

Drive

• Highly

motivated

• High energy

• Determined

• Persevering

Entrepreneur
Entrepreneur

Flexibility

• Flexible • Adaptive

• Change is an

opportunity

• Tolerates

ambiguity

Core values

• Trustworthy • Honest

Problem-solving

• Problem solver • Creative

• Innovative

• Imaginative • Learns from failure

Entrepreneurial skills

Entrepreneurial skills • Ability to plan • Marketing • Interpersonal skills • Personal effectiveness • Team

Ability to plan

Marketing

Interpersonal skills

Personal effectiveness

Team building skills

Leadership skills

Communication skills

Self confidence, etc.

Barriers to

Entrepreneurship

Poor or absent infrastructure Lack of training facilities Unsupportive legal & regulatory framework Marketing constraints Lack
Poor or
absent
infrastructure
Lack of
training
facilities
Unsupportive
legal &
regulatory
framework
Marketing
constraints
Lack of support
services
& trained
Social barriers
extension staff
Lack of
financial
support

Entrepreneurship and Economic

Development

  • Active entrepreneurs explore the potentialities of the country’s available resources- labour, technology and capital.

  • Increases national production.

  • Introducing innovations.

  • Balanced area development

  • Dispersal of economic power

  • Reinvestment of profit for the welfare of the area of profit generation

  • Development is a function of motivation and human resource

Types of Entrepreneur

Based on type of Business

Trading Entrepreneur:

Manufacturing Entrepreneur

Agricultural Entrepreneurs

Based on the Use of Technology

Technical Entrepreneur

Non-Technical Entrepreneur

Based on Ownership

Private Entrepreneur

State Entrepreneur

Joint Entrepreneur

Based on Size of Enterprise

Small Scale Entrepreneur:<1 cr

Medium Scale Entrepreneur:1cr- 5 cr

Large Scale Entrepreneur:>5 cr

Based on Clarence Danhof Classification

Innovating

Imitative

Fabian (imitate any change only as last resort)

Drone (don’t adopt changes even at cost of incurring losses)