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42038536 Entrepreneurship Full Notes

42038536 Entrepreneurship Full Notes

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Published by: Mehul_Singh_7900 on Jan 28, 2011
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04/10/2013

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‡ Adjustmentof Price:Thechiefroleofentrepreneurisbased

upontheadjustmentofpriceinthemarket.Thebuyermaypay

higherpriceorsellermayacceptalowerprice,whichgives

risetoopportunitiesforprofit.Furtherifdifferentprices

prevailinthesamemarket,thereinanopportunityfor

profitablearbitragebetweentwosegments.

‡ Alertnessto disequilibrium:Alertnesstodisequilibrium

enablestheentrpreneurtointerveneinthemarketbychanging

theprice.Thus,economyinpurchaseandprofitableselling

resultsineconomicgains

McClelland s Theory of Achievement

Motivation

Aspects of David McClelland¶s

Theory

‡Need for Achievement

‡Need for Power

‡Need for Affiliation

DavidMcClellandpointsoutthatµnAch¶i.e.Needfor

Achievementisthe

factorresponsible

for

entrepreneurshipdevelopment

Aspects of David McClelland¶s

Theory

‡ Characteristics that governs the economic behavior of

a person to become entrepreneur are:

±Doing things in a novel and excellent manner

±Decision making under uncertainity

Example

‡Karsanbhai Patel of Nirma

Knight s Theory of Profit

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