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VKC

Mammed Koya Daktar burman


Qimat Rai Gupta
Kochuouseph Haveli Ram Gupta
Chitillapilly

Beena Kannan
Dr. V.P. Sidhan
Alfred Vedam Thomas PC Mustafa
ENTREPRENEURSHIP
ENTREPRENEURSHIP
THE ART OF TURNING AN IDEA INTO A BUSINESS

THE ACT OF CREATING A BUSINESS WHILE BUILDING AND


SCALING IT TO GENERATE PROFIT

IS THE PROCESS OF DEVELOPING, ORGANIZING AND


MANAGING A BUSINESS VENTURE IN ORDER TO MAKE
PROFIT.

.
CHARACTERISTICS OF ENTREPRENEURSHIP
INNOVATION

A NEW IDEA
THAT CREATES VALUE
1

2 3
INNOVATION
TYPES CATEGORIES
• INCREMENTAL
4 Ps • DISRUPTIVE

• PRODUCT • MODULAR/ LATERAL

• ARCHITECTURAL
• PROCESS

• POSITION

• PARADIGM
PRODUCT INNOVATION
(Technology)
• AGRICULTURAL DRONES
• ULTRA PRIVATE SMARTPHONES
• AGILE ROBOTS
• BRAIN MAPPING
• NEURO MORPHIC CHIPS
• GENOME EDITING
• OCULUS RIFT
PROCESS INNOVATION
• NEW IDEAS THAT SOLVE AN EXISTING PROBLEM OR
PERFORMS AN EXISTING PROCESS IN A RADICALLY
DIFFERENT WAY.
• FORD’S ASSEMBLY LINE.
• ZARA
POSITION INNOVATION
• RE POSITION THE PERCEPTION OF AN ESTABLISHED
PRODUCT. CHANGES IN THE WAY A PRODUCT OR
PROCESS IS PERCEIVED SYMBOLICALLY AND HOW
THEY ARE USED
• LEVIS STRAUSS.
PARADIGM INNOVATION
THE WAY THINGS ARE DONE IN THE ORGANIZATION
AMAZON
UBER
DISRUPTIVE INNOVATION
DISRUPTIVE INNOVATION
Some examples of disruptive innovation include:

Disruptor Disruptee
Personal computers Mainframe and mini computers
Mini mills Integrated steel mills
Cellular phones Fixed line telephony
Community colleges Four-year colleges
Discount retailers Full-service department stores
Retail medical clinics Traditional doctor’s offices
Nirma Hindustan Unilever.
Maruthi Ambassador, Premier Automobiles
Toyoto ( US) General motors
CHARACTERISTICS OF ENTREPRENEURSHIP
ENTREPRENEUR
WHY DO YOU WANT TO BE AN ENTREPRENEUR?

MY IDEA
PRODUCT /
PASSION FOR
CUSTOMER
BUSINESS
FOCUS

ENTREPRENEUR
TENACITY
EXECUTION
DESPITE
INTELLIGENCE
FAILURES
WHAT MAKES ENTREPRENEURS
ENTREPRENEURIAL?
M1
M2
M3 GOAL

M4
M5 CAUSAL REASONING
E1
M1 E2
E3
M3 M2 E4
M4
M5
EFFECTUAL REASONING
1. ARE SMARTEST AND HIGH
ACHIEVING PEOPLE
2. ARE INDIVIDUALISTS
3. ARE BORN NOT MADE
4. LOVE RISKS
5. ARE CHARISMATIC
6. NOT DISCIPLINED
Class test 1 Question
• Who is an entrepreneur? Discuss
the common characteristics ,
qualities & Skills, functions of an
entrepreneur.
ENTREPRENEUR
• DYNAMIC INDIVIDUAL
• WHO ASSEMBLES RESOURCES, RISKS MONEY AND
FORTUNE TO
• CONVERT NEW IDEAS INTO
• VALUABLE PRODUCTS OR SERVICES.
• SELLS THEM IN THE MARKET
• FOR PROFIT.
CHARACTERISTICS OF
ENTREPRENEUR
• PASSION FOR BUSINESS
• PRODUCT AND CUSTOMER FOCUS
• TENACITY DESPITE FAILURE
• EXECUTION INTELLIGENCE.
QUALITIES AND SKILLS OF AN
ENTREPRENEUR
• INITIATIVE
• SHARP INTELLIGENCE
• PREPAREDNESS TO TAKE RISKS
• TASTE FOR CREATIVITY.
• COMMUNICATION ABILITY
• DYNAMIC LEADERSHIP
• ORGANIZATIONAL ABILITY.
FUNCTIONS OF ENTREPRENEUR
• UNDERSTANDING OWN CAPABILITY
• IDENTIFYING NEW OPPORTUNITY
• PLANNING A NEW VENTURE
• ORGANIZING AND SETTING UP NEW VENTURE
• MANAGING FINANCE
• MANAGING PRODUCTION AND OPERATIONS
• MANAGING WORKFORCE
• MANAGING MARKETS.
IMPORTANCE OF ENTREPRENEURS &
ENTREPRENEURSHIP
• ECONOMIC DEVELOPMENT
• SOCIAL IMPACT
• IMPACT ON OTHER LARGER FIRMS
ECONOMIC DEVELOPMENT
• INNOVATION
• EFFICIENT UTILIZATION OF RESOURCES.
• BETTER UTILIZATION OF RESOURCES IN PRODUCTIVE
AREAS.
• VALUE CREATION
• JOB CREATION
• EQUITABLE DISTRIBUTION OF WEALTH
• HIGHER INCOME LEADING TO HIGHER SAVING AND
PURCHASING POWER.
• HIGHER ECONOMIC ACTIVITY AND HIGHER ECONOMIC
GROWTH.
SOCIAL IMPACT & IMPACT ON
OTHER FIRMS
• BETTER PRODUCT AND SERVICE
• LESS COST
• BETTER STANDARD OF LIVING

• ENTREPRENEURS SUPPLY PARTS AND


COMPONENTS TO OTHER LARGER PLAYERS.