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Entrepreneur.docx 1st assignment

Entrepreneur.docx 1st assignment

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Published by Arun Pathania

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Published by: Arun Pathania on Feb 08, 2011
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05/17/2011

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Homework Title / No. : ______________________________________Course Code: _________ Course Instructor : ______________________ Course Tutor (if applicable) : ____________ Date of Allotment : _____________________ Date of submission : ___________________ Student¶s Roll No._______________________ Section No. : _________________________ 
Declaration:
I declare that this assignment is my individual work. I have not copied from any other student¶swork or from any other source except where due acknowledgment is made explicitly in the text,nor has any part been written for me by another person.Student¶s Signature:_____________ Evaluator¶s comments: _____________________________________________________________________ Marks obtained: ___________ out of ______________________ 
Content of Homework should start from this page only:
 
 
A
ssignment no.1OnHMT=565
(Govt. Institutions for Entrepreneurial development. Their subsidies,policies, systems and procedures.)
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ubmitted To:
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ubmitted By:-Mr. Rohan
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M & Hospitality
 
E
ntrepreneur
F
or the practice of starting a new organization, see Entrepreneurship
 
An
entrepreneur
is a person who has possession of a new enterprise, venture or idea and is accountable for theinherent risks and the outcome. The term was originally a loanword from
F
rench and was firstdefined by the Irish-
F
rench economist Richard Cantillon. Entrepreneur in English is a termapplied to a person who is willing to launch a new venture or enterprise and accept fullresponsibility for the outcome. Jean-Baptiste Say, a
F
rench economist, is believed to have coinedthe word "entrepreneur" in the 19th century - he defined an entrepreneur as "one who undertakesan enterprise, especially a contractor, acting as intermediatory between capital and labour.
Leadership attributes
The entrepreneur leads the firm or organisation and also demonstrates leadership qualities byselecting managerial staff. Management skill and strong team building abilities are essentialleadership attributes for successful entrepreneurs. Scholar Robert. B. Reich considers leadership,management ability, and team-building as essential qualities of an entrepreneur. This concept hasits origins in the work of Richard Cantillon in his
 Essai sur la Nature du Commerce en
(1755)and Jean-Baptiste Say (1803 or 1834) in his
Treatise on Political Economy.
 Entrepreneurs emerge from the population on demand, and become leaders because they perceive opportunities available and are well-positioned to take advantage of them. Anentrepreneur may perceive that they are among the few to recognize or be able to solve a problem. Joseph Schumpeter saw the entrepreneur as innovators and popularized the uses of the phrase creative destruction to describe his view of the role of entrepreneurs in changing businessnorms. Creative destruction encompasses changes entrepreneurial activity makes every time anew process, product or company enters the market.
Influences, personality traits, and characteristics
The most significant influence on an individual's decision to become an entrepreneur isworkplace peers and the social composition of the workplace. Entrepreneurs also often possessinnate traits such as extroversion and a propensity for risk-taking. According to Schumpeter, an

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