31/01/2011

 A function, a phenomenon, an activity where

an individual or a group identifies a gap in
demand and production (i.e. need and
fulfillment of the need), scrutinizes the
potential of demand, takes calculated risks
to fill this gap with innovative offerings of
utility to interested parties and wealth or
profit maximization for him/her/them
selves.
 Thus, entrepreneurship may mean
 Doing a new thing: developing a new idea,
concept of product (good/service);
 Doing an old thing in a new way: new
market, new work processes, new
technology,etc.
 National production; self sufficient economy
(When you have producers, consumers are
born)
 Dispersal and distribution of economic
power; economic empowerment;
employment generation
 Reinvestment of profits (if entre initiatives
are there)
 Harnessing the young workforce
 Attitude of people
 Demographic and economic factors
 Entrepreneurial education
 Shift to service based economy
 Technological advancement
 LPG
 Information availability
 Seizing opportunity
 Calculated risk taker
 Objectivity
 Commitment to task
 Sense of efficacy (efficiency and
effectiveness)
 Open to feedback
 Independence
 Positivity, optimism, self motivated,
perseverance
 Attitude towards money
 Proactive
 Competitive yet collaborative
 Sound decision making ability
 Team player with vision : leadership skills.