Concept of Entrepreneurship Development and
Description: Concept of Entrepreneurship Development and Characteristics Entrepreneurs Entrepreneurship Development and Industrial Consultancy (DBM-421) Concept of Entrepreneurship Entrepreneurship is the ability and readiness to develop, organize, and
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slide1. Concept of Entrepreneurship Development and
Characteristics Entrepreneurs Entrepreneurship Development and Industrial Consultancy (DBM-421)<br>
slide2. Concept of Entrepreneurship Entrepreneurship is the ability and readiness to develop, organize, and run a business enterprise along with any of its uncertainties in order to make a profit.
The entrepreneurial vision is defined by risk-taking<br>
slide3. Concept of Entrepreneurship Contd. The Entrepreneur is defined as someone who has ability and desire to establish, administer, and succeed in a start-up venture along with associated risk to make profit. The example is
starting of a new business venture
Entrepreneurs are
source of new ideas &
Innovations
In nutshell, anyone who has will and determination to start a new business venture and deals with risk can be become an Entrepreneur.<br>
slide4. General facts of Entrepreneurship There are many characteristics of an entrepreneur, which are certainly not that easy to inculcate and possess.
However, if one wants to earn money and improve livelihood, one has to be loaded with entrepreneurial characteristics, as much as possible .
In fact, a number of characteristics of a good entrepreneur are those of a good progressive human being.
In other words, if an individual is not filled with characteristics of a good human being, he cannot think of becoming a good entrepreneur<br>
slide5. General facts of Entrepreneurship Although achieving perfection in entrepreneurship is a myth, one should try to imbibe those characteristics of agri-entrepreneurship as far as possible in order to bring about prosperity.
Even partial inculcation and application of these characteristics can be of much help in bringing about farm prosperity.<br>
slide6. Characteristics of an entrepreneur Ability to take risk:
Starting any new venture involves a considerable amount of risk.
An entrepreneur needs to be courageous
Able to evaluate and take risk
Innovation:
He should be innovative and generate new ideas, start a new business, and earn profit
Launching of product that is new to the market, or new process that does the same thing but more efficiently and economically
Visionary with Leadership Quality:
To be successful, entrepreneur should have clear vision of he new venture.
To turn ideas into reality a lot of resources including personnel are required.
Thus , leadership quality is of paramount importance to create a cohesive and congenial environment along with a workforce committed to accomplish the goal.<br>
slide7. Characteristics of an entrepreneur Open Minded
In business, every circumstance can be an opportunity, which can be utilized for the benefit
E.g.Paytm recognized the opportunity af cashless transaction after demonetization, utilized the situation and expanded massively
Flexible
An entrepreneur should be flexible and open to change according to the situation
Aware of the Product
He should be fully aware of the product offerings, and latest trends in the market.
It is essential to know if the available product or service meets the demands of the current market
If need be, should be able to introduce changes<br>
slide8. Other Characteristics of an Entrepreneur Health conscious (Health is wealth)
Goal setter, and goal commitment (goal always on the mind)
Right user of time, money and energy (TME)
Hard and smart working, no gain without pain/sacrifice
Work is worship (No work is small, if it is beneficial; work more, talk less), willing to work, work enjoyer, enthusiastic, motivated
Focused and committed (do not go after attractions and get misled by distractions)<br>
slide9. Characteristics of an entrepreneur Self confident (have faith on yourself)
Market led
Determined
Well behaved
Non-aggressive in nature, but aggressive in work
Innovative
Aware
Active
Opportunity seeker<br>
slide10. Characteristics of an entrepreneur Passionate, persistent, persevering, patient, polite, punctual, Progressive, pluralistic, pragmatic, positive, planner, professional
Far-sighted (Dreamer)
Optimistic
Disciplined
Honest
Competitive, but non-quarrelsome
Frugal, but not miser, saver investor, good fund manager
Non-superstitious<br>
slide11. Characteristics of an entrepreneur Tolerant
Open minded with sharing attitude
Help seeker and giver
Non-blaming: do not blame non-helpers
Tendency to learn (knowledge and skill, etc) and implement it in life profitably
Occupationally, spatially and attitudinally mobile; (fixity of place, occupation and attitude is regressive)
Temperamentally flexible, receptive and adjusting/accommodative<br>
slide12. Importance of Entrepreneurship Creation of Employment
Provides an entry-level job, required for gaining experience and training for unskilled workers
Innovation
It is the hub of innovation that provides new products, market, technology, and quality of goods
Impact on Society and Community Development
Assists in more stable and high quality of community life
Increases Standard of life
Help increase income, employment , standard of living
Supports Research and Development
Adopts technologies and apply them
Supports R&D organizations
Funding, Testing, etc.<br>
slide13. Barriers to Entrepreneurship Development Physical: farmers’ health and rural infrastructure
Individual/personal : Laziness, unwillingness to do unconventional work of profit, lack of risk bearing ability
Family: Lack of support from family
Social: Lack of support from society
Educational: Lack of education reduces risk and responsibility bearing capacity, self-confidence to take up some enterprise
Economic: Lack of capital for initial fixed investment and operational expenditure
Religious/cultural: Religious/cultural restriction to take up some enterprise<br>
Characteristics Entrepreneurs Entrepreneurship Development and Industrial Consultancy (DBM-421)<br>
slide2. Concept of Entrepreneurship Entrepreneurship is the ability and readiness to develop, organize, and run a business enterprise along with any of its uncertainties in order to make a profit.
The entrepreneurial vision is defined by risk-taking<br>
slide3. Concept of Entrepreneurship Contd. The Entrepreneur is defined as someone who has ability and desire to establish, administer, and succeed in a start-up venture along with associated risk to make profit. The example is
starting of a new business venture
Entrepreneurs are
source of new ideas &
Innovations
In nutshell, anyone who has will and determination to start a new business venture and deals with risk can be become an Entrepreneur.<br>
slide4. General facts of Entrepreneurship There are many characteristics of an entrepreneur, which are certainly not that easy to inculcate and possess.
However, if one wants to earn money and improve livelihood, one has to be loaded with entrepreneurial characteristics, as much as possible .
In fact, a number of characteristics of a good entrepreneur are those of a good progressive human being.
In other words, if an individual is not filled with characteristics of a good human being, he cannot think of becoming a good entrepreneur<br>
slide5. General facts of Entrepreneurship Although achieving perfection in entrepreneurship is a myth, one should try to imbibe those characteristics of agri-entrepreneurship as far as possible in order to bring about prosperity.
Even partial inculcation and application of these characteristics can be of much help in bringing about farm prosperity.<br>
slide6. Characteristics of an entrepreneur Ability to take risk:
Starting any new venture involves a considerable amount of risk.
An entrepreneur needs to be courageous
Able to evaluate and take risk
Innovation:
He should be innovative and generate new ideas, start a new business, and earn profit
Launching of product that is new to the market, or new process that does the same thing but more efficiently and economically
Visionary with Leadership Quality:
To be successful, entrepreneur should have clear vision of he new venture.
To turn ideas into reality a lot of resources including personnel are required.
Thus , leadership quality is of paramount importance to create a cohesive and congenial environment along with a workforce committed to accomplish the goal.<br>
slide7. Characteristics of an entrepreneur Open Minded
In business, every circumstance can be an opportunity, which can be utilized for the benefit
E.g.Paytm recognized the opportunity af cashless transaction after demonetization, utilized the situation and expanded massively
Flexible
An entrepreneur should be flexible and open to change according to the situation
Aware of the Product
He should be fully aware of the product offerings, and latest trends in the market.
It is essential to know if the available product or service meets the demands of the current market
If need be, should be able to introduce changes<br>
slide8. Other Characteristics of an Entrepreneur Health conscious (Health is wealth)
Goal setter, and goal commitment (goal always on the mind)
Right user of time, money and energy (TME)
Hard and smart working, no gain without pain/sacrifice
Work is worship (No work is small, if it is beneficial; work more, talk less), willing to work, work enjoyer, enthusiastic, motivated
Focused and committed (do not go after attractions and get misled by distractions)<br>
slide9. Characteristics of an entrepreneur Self confident (have faith on yourself)
Market led
Determined
Well behaved
Non-aggressive in nature, but aggressive in work
Innovative
Aware
Active
Opportunity seeker<br>
slide10. Characteristics of an entrepreneur Passionate, persistent, persevering, patient, polite, punctual, Progressive, pluralistic, pragmatic, positive, planner, professional
Far-sighted (Dreamer)
Optimistic
Disciplined
Honest
Competitive, but non-quarrelsome
Frugal, but not miser, saver investor, good fund manager
Non-superstitious<br>
slide11. Characteristics of an entrepreneur Tolerant
Open minded with sharing attitude
Help seeker and giver
Non-blaming: do not blame non-helpers
Tendency to learn (knowledge and skill, etc) and implement it in life profitably
Occupationally, spatially and attitudinally mobile; (fixity of place, occupation and attitude is regressive)
Temperamentally flexible, receptive and adjusting/accommodative<br>
slide12. Importance of Entrepreneurship Creation of Employment
Provides an entry-level job, required for gaining experience and training for unskilled workers
Innovation
It is the hub of innovation that provides new products, market, technology, and quality of goods
Impact on Society and Community Development
Assists in more stable and high quality of community life
Increases Standard of life
Help increase income, employment , standard of living
Supports Research and Development
Adopts technologies and apply them
Supports R&D organizations
Funding, Testing, etc.<br>
slide13. Barriers to Entrepreneurship Development Physical: farmers’ health and rural infrastructure
Individual/personal : Laziness, unwillingness to do unconventional work of profit, lack of risk bearing ability
Family: Lack of support from family
Social: Lack of support from society
Educational: Lack of education reduces risk and responsibility bearing capacity, self-confidence to take up some enterprise
Economic: Lack of capital for initial fixed investment and operational expenditure
Religious/cultural: Religious/cultural restriction to take up some enterprise<br>