ENTREPRENEURSHIP ASSIGNMENT - I

Submitted by : V.Prakash Roll No. Class Course : 09CN11 : PGDM I : Entrepreneurship

ENTREPRENEURSHIP
Entrepreneurship is the act of being an entrepreneur. Entrepreneurship is an act where entrepreneur as an individual invests his time, capital and knowledge to produce or provide a product or a service that he hopes to sell at a profit in a given market. In the process, he is willing to incur loans and liabilities and carry risks. However to me entrepreneurism can be defined as: • • • • Responsibility Freedom Empowerment Ambition

An entrepreneur is someone who chooses to use her/his skills, talents, abilities, gifts, insights, experience, education, and everything ever learned to create a successful business which has a good chance to find a purpose with passion inside and with strong work ethic. Entrepreneurship is about the ability to create something, identifying new opportunities or unmet need and creating a unique solution to solve those needs. It is also about creativity, passion and enthusiasm to create something different. It starts with the passion to build and continues with the desire to stay at it against all odds. An entrepreneur means primarily to have freedom of choice and be accountable to that choice. An entrepreneur can enforce his/her own principles and ethics that he/she personally value in business and also able to allocate their own time at will into their profession and others. An entrepreneur is self motivated and independent always looking for the next opportunity to grow. Being self reliant and willing to take a risk is a huge part. Becoming a billionaire would be awesome, but that is not what an entrepreneur means to me. A better life and the freedom to do what I want. Fundamentally, one becomes entrepreneur because he/she find it impossible to accept another's definition of success for their lives. They choose instead to define and then pursue their own success. This is what it means to me to be an entrepreneur/entrepreneurship.

INNOVATION

Innovation is the act of starting something for the first time; introducing something new and generation and application of creative ideas in some specific context. Innovation occurs by creativity where creativity is the starting point of innovation. Innovation is the process by which firms and other organizations master new product designs, production processes and business methods and commercially exploit them or bring them into use. New means new to the firm or organization, if not to the world, nation or sector. According to me an innovation is anything novel or new that creates value for its users and it is simply making a contribution in new ways that provide improvement to people’s lives, contribute to the society, economy and entities so as to provide additional value.

Innovation can be practiced in a disciplined manner. Regardless of where innovation occurs or what it is focused on, a disciplined approach to innovation is capable of stimulating and accelerating development of ideas, practices and products that can be transferred across the system.

Book Review: The Little Prince - Antoine de Saint-Exupery
The story begins when the narrator depicts his childhood, when he drew many creative pictures and showed them to adults but was disheartened by their crude comments. He says he then gave up his potential career of an artist and putting his creativity to use, and instead became a pilot, because it was what the adults believed was sensible. One day, his plane crashes and lands in the middle of the Sahara Desert. There he meets the little prince, who instructs him to draw a sheep. Through their conversations, the narrator pilot finds his little friend has come from an asteroid, B612. The little prince took great care of his asteroid, preventing baobabs (destructive plants) and other unwanted things from destroying his home. One day, a rose appears on his asteroid, and as he cares for it most deeply, thinking she is the most wonderful, special creature ever and he is depressed to assume that she does not love him back. The little prince then leaves his asteroid and rose. As he lands on many asteroids, each one is occupied by a different adult. First, he meets the king, a man attempting to rule over the universe and the stars. The king, however, does not realize the will of his presumed subjects, who do not even know they are being 'ruled' over because of natural instincts. He covers up his lack of understanding for these things by saying, "'Accepted authority rests first of all on reason. If you ordered your people to go and throw themselves into the sea, they would rise up in revolution. I have the right to require obedience because my orders are reasonable.'" As he continues his journey, he meets more and more seemingly pathetic people - a conceited man who believes the little prince is only an admirer; a tippler who is attempting to drink his problems away; a businessman too busy to stop his work for anything; a lamplighter who does nothing but light his lamp, day and night; and a geographer who cannot complete his work because there is no explorer. Next, the little prince goes to earth, where he meets a snake, who is very much pleased in the prince's company because of his innocence and honesty in all matters, and says his bite can send them back to their homes (where they truly belong). He then finds a flower; an echo, of which he believes is mocking him; many roses (which depress him, because the rose on his planet had told him she was the only one of her kind in the universe); and a fox, whom he befriends and

attempts to tame. He also meets some humans, who seem highly peculiar to him, a railway switchman who is unsatisfied, and knows people are unsatisfied, except for children, who are the only ones that know what they are looking for; and a merchant, who sells pills that will quench thirst and save valuable time. Then the little prince ends up in the desert with the narrator pilot. They finally find a well to quench their thirst, and share an understanding moment when they both know that people no longer see what is most important in life but lead mechanical, empty lives. However, the little prince misses his homeland dreadfully, and finds the snake to bite him and send him back to his asteroid. Before he leaves, he gives the narrator a gift of "laughing stars," something no one else in the universe has. The narrator, with his newfound friend and outlook on life, then proceeds to examine the lovely and sad landscape of the desert and the lone star, shining in the night sky.

THEME
The Little Prince, a novel that represents and emphasizes some of the many roles of aspects in life such as honesty, loneliness, hate, success, love, compassion, fear, regret and has a strange power to portray them with extreme precision. The first main principle I learned from The Little Prince is simply to see with your heart and imagination rather than with eyes, facts, and figures. The little prince and the narrator alike understand loneliness as inability to perceive beyond the facts. The adults he meets are so lost and alone without even knowing so because they rely only figures to prove something, whereas in the children's world, emotions and 'matters of consequence' are viewed upon with imagination and a relative understanding. Unlike the children the adults depicted are always thoughtful of other things - money, power, material, and mundane objects. The second important theme I have learned from The Little Prince is, not to let all the new developments and material things that our rapidly developing society offers to take away the most important thing in life. When the little prince meets the merchant selling pills, which he claims will quench thirst, saving a calculated fifty-three minutes from every week spent drinking, he asks, ‘And what do I do with those fifty-three minutes?’, ‘Anything you like...’, ‘As for me,’ said the

little prince to himself, ‘if I had fifty-three minutes to spend as I liked, I should walk at my leisure toward a spring of fresh water.’ People in modern society have developed such things to make their lives easier and more efficient. They drink bottled water and eat pre-packaged meals; and they would much rather prefer taking diet pills than exercising off extra pounds. This kind of stayconvenient and technologically-dependent attitude of modern society is what may very well lead to a foreshadowed depression, if anything at all. The third one which I learnt is that loving someone, though it may make you sad sometimes, is worth the pain. The prince realized he needed to go home to take care of his rose. In his travels, the prince learns what it means to love someone. He realizes how important his rose is to him even though she is difficult at times. Yet another important message I wanted to mention that relates to the latter theme is the extreme importance of preserving true friendship in our lives, which is quickly fading. During a conversation with a fox, the little prince learns that ‘’Men have no more time to understand anything. They buy things all ready made at the shops. But there is no shop anywhere where one can buy friendship, and so men have no friends anymore...’’ When the little prince encountered the many thousands of roses, contradictory to what his single beloved rose told him on his planet, he did not give up that love for his rose, even though there were so many that looked like her. He simply told them about his fox friend: ‘’...He was only a fox like a hundred thousand other foxes. But I have made him my friend, and now he is unique in all the world.’’ This kind of friendship and love is so rare to find, because as said earlier, ‘’...there is no shop anywhere where one can buy friendship...’’ and is one of the few things people have left yet to survive on.