STUDY MATERIAL

 AN INDIVIDUAL
 BEARS RISK
 OF OPERATING BUSINESS
 ABOUT FUTURE CONDITIONS
BASIS ENTREPRE MANAGER
NEUR

OWNER EMPLOYEE
BEARS ALL NO RISK
RISKS

PROFIT SALARY
 STEVENSON
 ENTREPRENEURSHIP IS THE PROCESS OF
CREATING VALUE BY BRIGING TOGETHER
A UNIQUE PACKAGE OF RESOURCES TO
EXPLOIT OPPORTUNITY………
 D.C.MCCLELLAND
 ..IS DOING THINGS IN A BETTER WAY
AND DECISION MAKING UNDER
CONDITIONS OF UNCERTAINITY……..
 1. FUNCTION OF INNOVATION
2. FUNCTION OF LEADERSHIP
3. ORGANISATION BUILDING FUNCTION
4. HIGH ACHIEVEMENT
5. RISK ASSOCCIATED
6. ECONOMIC ACTIVITY
7. EMPLOYING MANAGING AND DEVELOPING
8. PROCESS OF CREATING VALUE
 CREATION OF NEW  INTRODUCTION OF
PRODUCT NEW PRODUCT
 NOT  COMMERCIALIZED
COMMERCIALIZED
 ECONOMIC OR NON  ECONOMIC
ECONOMIC
 MAY BRING FEW  ORGANIZATIONAL
CHANGES CHANGE
 PRECEDES  FOLLOWS
INNOVATION INNOVATION
 WORK OF  WORK OF
SCIENTISTS ENTERPRENEURS
FINANCIAL RISKS

PERSONAL RISKS

CAREER RISKS

PSYCHOLOGICAL RISKS
  STARTING A NEW
VENTURE INCLUDES
BOTH ENERGY AND
TIME.
 COMMITMENTS MAY
SUFFER.
 SACRIFICES PLEASURES

FINANCIAL PERSONAL
 LEAVING A SUCCESSFUL CAREER
TO START AA NEW VENTURE ….

PROFFESIONAL REPUTATION

IF VENTURE FAILS , DIFFICULT TO

FIND A NEW JOB…………
ENVIRONMENTAL BARRIERS

NON AVAILIBILITY OF RAW MATERIALS

•DURING PEAK SEASON ..MAIN OSTACLE
•INCREASE IN PRICE OF RAW MATERIALS

LACK OF SKILLED LABOUR

•DESIRED MAN POWER MAY NOT BE AVAILABLE
•LACK OF LOYAL EMPLOYEES

LACK OF GOOD MACHINERY

•DUE TO RAPID TECH.MACHINES BECOME OUTDATED
•HENCE ,NEED TO BE REPLACED.
 LACK OF INFRASTUCTURE IS A MAJOR
BARRIER.
 LACK OF FUND , SHORTAGE OF CAPITAL.
 OTHER ENVORONMENTAL BARRIERS
 UNWILLINGNESS TO INVEST MONEY.

 LACK OF CONFIDENCE.

 LACAK OF MOTIVATION.

 LACK OF PATIENCE.

 INABILITY TO DREAM.
 LOW STATUS.

 CUSTOM AND
TRADITION OF
PEOPLE.
PSYCOLOGICAL FACTORS
CULTURAL FACTORS
SOCIAL FACTORS
ECONOMIC FACTORS
PERSONALITY FACTORS