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The word entrepreneur is derived from the French word entreprendre Which means to undertake In the early 16th century the French men who organized and led military expeditions were referred to as entrepreneurs After 1700 , the term was applied to other types of adventures , mainly civil engineering like construction of roads , bridges and buildings Bernard F.De.Bolidar , defined an entrepreneur as one who performs the task of bringing labour and material at certain price and selling the resultant product at a contracted price
A person who buys factor services at certain prices with a view to sell its product at uncertain prices in future. ------- R . Cantillon ( He was the first person to use the term entrepreneur ) The entrepreneur is an economic man ,Who tries to maximize his profits by innovations . Innovation involves problem solving and entrepreneur gets satisfaction from using capabilities in attacking problems ------E . E . Hagen
People are poor because they prefer in that way . An entrepreneur must accept the challenge and should be willing hard to achieve something -------Galbraith Entrepreneur is a (i) Decision maker under uncertainty and (ii) One who does things in a new and better way . --------David C.McClelland Entrepreneur - basically an innovator who carries out new combination to initiate and accelerate the process of economic development -------- Joseph Schumpeter
NEW CONCEPT OF ENTREPRENEUR
Entrepreneur performs one or more of the following functions 1. Perceives opportunities for profitable investments 2. Explores the prospects of starting such a manufacturing enterprise 3. Obtains necessary industrial license 4. Arranges initial capital 5. Provides personal guarantee to the financial institutions 6. Supply technical Know how
QUALITIES OF AN ENTREPRENEUR
1. Calculated Risk Taker 2. Innovator 3. Organizer 4. Creative 5. Achievement Motivated 6. Technically Competent 7. Self Confident
8. Socially Responsible 9. Optimistic 10. Equipped with Capacity to Drive 11. Blessed with Mental Ability 12. Human Relations Ability 13. Communication Ability 14. Decision Making 15. Business Planning
16. A Venture Capitalist 17. Visionary 18. Entrepreneurs make Significant Differences 19. Ability to Spot and Exploit Opportunities 20. Courage to Face Adversities 21. Leadership --- An essential trait of the Entrepreneur
MANAGER VERSUS LEADER
y y y y y y y y y y
Manager Characteristics Administers A Copy Maintains Focus on systems & structure Relies on Control Asks how and when Short range view Imitates Classic good soldier Does things right
y y y y y y y y y y
Leader Characteristics Innovates An Original Develops Focuses on People Inspires on Trust Asks what and why Long range perspective Originates Own person Does the right thing
TYPES OF ENTREPRENEURS
1. According to the type of Business a. Business entrepreneur b. Trading entrepreneur c. Industrial entrepreneur d. Corporate entrepreneur e. Agricultural entrepreneur 2. According to Motivation a. Pure entrepreneur b. Induced entrepreneur 3. According to the use of Technology a. Technical entrepreneur b. Non-Technical entrepreneur c. Professional entrepreneur
4. According to stages of development 1. First generation entrepreneurs 2. Second generation entrepreneurs 3. Classical entrepreneur 5. Classification given by Danhof 1. Innovative entrepreneurs 2. Imitative entrepreneurs 3. Fabian entrepreneurs 4. Drone entrepreneurs 6. According to Capital Ownership 1.Private entrepreneur 2. State entrepreneur 3. Joint entrepreneur
7. According to Gender and Age 1.Man entrepreneur 2. Woman entrepreneur 3. Young entrepreneur 4. Old entrepreneur 5. Middle Aged entrepreneur 8. According to area 1. Urban entrepreneur 2. Rural entrepreneur 9. According to Scale 1. Large Scale industry entrepreneur 2. Medium Scale industry entrepreneur 3. Small Scale industry entrepreneur 4. Tiny industry entrepreneur
PROS AND CONS OF BEING AN ENTREPRENEUR
ADVANTAGES (Pros): 1. Bridge the gap between Knowledge and application 2. Converting an idea into money 3. Be your own boss 4. Originality, Respected 5. Competition 6. Better utilization of skill and knowledge 7. Alternative to current Career 8. Business Opportunity
DISADVANTAGES (Cons) : 1. Remuneration 2. Benefits 3. Time Management 4. Management 5. Experience
ENTREPRENEURSHIP- THE CONCEPT
The concept of entrepreneurship is a complex phenomenon . Broadly it relates to the entrepreneur, his vision and his implementation Entrepreneurship refers to a process of action an entrepreneur (person) undertakes to establish his /her enterprise . It is a creative and innovative response to the environment .
Entrepreneur Entrepreneurship Enterprise
Process of Action
DIFFERENCE BETWEEN ENTREPRENEUR AND ENTREPRENEURSHIP
y Refers to a person y Creator y Organizer y Decision Maker y Initiator y Leader y Motivator y Risk taker
y Refers to a Process y Creation y Organization y Decision Making y Initiative y Leadership y Motivation y Risk taking
Entrepreneurship is a role played by or the task performed by the entrepreneur . The central role of the entrepreneur is to take moderate risk and invest money to earn profits by exploiting an opportunity Definitions: ³Entrepreneurship is the investing and risking of time ,money and effort to start a business and make it successful¶¶ ---- Musscleman and jackson ³Entrepreneurship is meant the function of seeing investment and production opportunity , organizing an enterprise to undertake a new production process , raising capital, hiring labour, arranging for supply of raw materials and selecting top managers for day to day operations of the enterprise ----higgins
1. Implement the innovative activity 2. Strategy formulation and adoption 3. Monitoring the activities by adopting solutions for problems
1. Implement the innovative activity
2.Strategy formulation and adoption
3. Monitoring the activities by adopting solutions for problems
PROBLEMS IN GROWTH OF ENTREPRENEURSHIP
1. Incompetence and poor management 2. Low level of commitment 3. Restrictions imposed by custom and tradition 4. Involvement of high risk 5. Lack of motivation 6. Lack of infrastructural facilities 7. Lack of communication network
8. Absence of entrepreneurial aptitude 9. Low status of businessmen 10. Market imperfections 11. Legal formalities involved to set up a unit 12. Low quality products 13. Low package of salaries to employees
Women entrepreneurship is the process where by women take the lead and organize the business or industry and provides employment to others . In India, very few women entrepreneurs are in the big enterprises .Rather they are mainly concentrated in the SSI¶s (Small Scale Sector ) In the SSI sector , the participation of women can be classified into three types 1. Women as owners of enterprises 2. Women as managers of enterprises 3. Women as employees Women entrepreneurs are key players in any developing country particularly in terms of their contribution to economic development
STUDY CONDUCTED BY IIT,DELHI
1. Women own one-third of small business in USA and Canada 2. Britain has seen an increase of over three times of women in work force than that of men after 1980¶s 3. Women make for 40% of total work force in Asian countries 4. In China ,women outnumber men by at least two times when it comes to starting business there . 5. In Japan, the percentage of women entrepreneurs increased from 2.4% to 5.2% in 1995 6. The second All India census for SSI units 1987-88 and the DC(SSI) sample survey report 1994-1995 gives that 5.15 % and 7.69% of the enterprises are owned and managed by women ----But in USA the percentage is 50%
PROBLEMS OF WOMEN ENTREPRENEURS
1. Patriarchal Society 2. Absence of Entrepreneurial aptitude 3. Marketing Problems 4. Financial Problems 5. Family Conflicts 6. Credit Facilities 7. Shortage of Raw Materials
8. Heavy Competition 9. High Cost of Production 10. Social Barriers 11. Problems of Middlemen 12. Lack of Information 13. Lack of Self ± Confidence 14. Lack of Access of Technology 15. Lack of Training
REASONS FOR STARTING AN ENTERPRISE
³When women moves forward , the family moves, the village moves and the nation moves.´ is rightly said by Pandit Jawahar Lal Nehru. Employment gives status and economic development to women leading to an empowered woman. women set up an enterprise due to economic and noneconomic reasons as well. Various reasons can be due to 1.Motivational factors: a.Economic Necessity b.Self Actualisation c.Independence d.Govt.policies & programmes e.Education & Qualification j.Family Occupation f.Role model to others g.Employment opportunities h.Self identity & Social status i.Success stories of friends & relatives
Facilitating Factors: 1.Adequate Financial Facilities 2.Self-Satisfaction 3.Innovative Thinking 4.Network of Contacts 5.Co-operation of family 6.Experienced and skilled people at work 7.Support of family members
STEPS TAKEN BY GOVERNMENT
Development of women has been a policy objective of the government since independence. Until the seventies, the concept of women¶s development was welfare oriented . The focus was on women¶s welfare in terms of improvement in material and child health and nutrition services. The eighties adopted a multi disciplinary approach with an emphasis on three core areas of health ,education and employment .Women were given priorities in all the sectors including SSI sector. Various policies and programmes have been formulated ,incentives and schemes introduced during 1970¶s and 1980¶s.
1.During 1980¶s Priority was given to implementation of programmes for women under different sectors of agricultural and its allied activities of dairying , poultry, animal husbandry, handlooms ,handicrafts, small scale industries etc 2. Eight five year plan : During the eight plan, efforts were made to increase employment and income generating activities for women under various sectors a. Women in agriculture was launched in 1993 to train women farmers having small and marginal holdings in agriculture and allied programmes such as animal husbandary, horticulture, dairying, fisheries, bee-keeping etc
b. Women cooperatives with full financial assistance from the government were formed to assist women in agro based industries. c. The KVIC took measures to generate more employment opportunities for women.( nearly 46.5% are women in KVIC) d. Various schemes like PMRY and EDP¶s were launched e. IRDP( Integrated Rural Development Programme), Jawahar Rojgar Yojana, Training of rural youth for self Employment (TRYSEM) Development of Women And Children in Rural areas (DWCRA) were stared to alleviate poverty . 3.Ninth five year plan: An important scheme on Trade Related Entrepreneurship Assistance & Development (TREAD) was introduced in 1998. The scheme is being administered by the ministry of SSI .
4. The tenth five year plan (2002-2007): Suggested a three fold strategy for empowering women through a. Social Empowerment b. Economic Environment c. Gender Justice d. Mahila Vikas Nidhi : 1990 to 2001 80.4 million was sanctioned benefitting 155 NGO¶s and 21350 women¶s. T &D on sericulture, Spinning, Weaving ,Coir Products , Block Printing, Handicrafts & Handloom Products. e. Micro Credit Scheme : SIDBI has sanctioned 810.50 million to 169 MFI¶s benefitting 4,42,000 poor women¶s. f. PMRY g. The Rashtriya Mahila Kosh: offered micro credit h. STEP: Govt. started training programmes for selfemployment Support for Training and Employment Programme for Women
Women entrepreneurship has come a long way in India : Day care centre's Placement Service Floriculture Beauty Parlours Fashion Boutiques Micro Businesses through SHG Light Manufacturing In engineering goods
ASSOCIATIONS PROMOTING WOMEN ENTREPRENEURS
1. Self Help Groups 2. Federation of Indian Women Entrepreneurs 3. Women¶s India Trust 4. SIDBI 5. SIDO 6. Consortium of Women Entrepreneurs of India 7. NABARD 8. Central and State Govt. Schemes 9. Self ±Employed Women¶s Association (SEWA) 10. Association of Women Entrepreneurs of Karnataka- AWAKE
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