Entrepreneurship

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Aaqib Jawed 1222413
 “ An entrepreneur is a person who undertakes
to do a job ” Richard Cantillon (1755).

Jean Babtiste Say (1803) - An entrepreneur

is a person who shifts resources from an area
of low productivity to high productivity.

Carl Menger (1871)-The entrepreneur acts as

an economic agent who transforms resources
into products and services .

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 Entrepreneurship
Entrepreneurship: a way of thinking, reasoning, and acting that
is:
– opportunity obsessed
– holistic in approach
– and leadership balanced

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 Characteristics of an Entrepreneur

• Vision • Drive
• Perseverance
• Motivation • Ambition
• Self-confidence • Leader
• Self Satisfaction • Survivor status
• Competitive
• Extrovert
• Interpersonal skills
• Results orientated • Innovative skills
• Committed • Ability to bounce back
• Risk taker
• Sociable
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 Psychological Characteristics of
Entrepreneurs
• Need for achievement
• Locus of Control
– Internal
– External
• Risk-taking Prosperity
• Tolerance for ambiguity
• Type A Behaviour
– Impatient, time urgency, driving ambition, competitiveness
• Need for Independence

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 What is the Role of the
Entrepreneur?
• Opportunity recognition
• Market uncertainties
– Dealing with the future
• Risk taking
– Businesses, financial and personal
• Resource gathering
• Profits/Reward

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 CLASSIFICATION OF ENTREPRENUERS

INNOVATIVE ENTREPRENEUR
• s/he is the one who introduces a new
product or a new method of production or
opens anew market or explore new source
of supply of raw material or carry out a new
type of organization.
IMITATIVE  / ADOPTIVE ENTREPRENEUR
• are those who imitate the successful
entrepreneurs in techniques innovated by
others.
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 DRONE ENTREPRENEUR
• Drone entrepreneur are those who never allow any
change in their production & style of functioning.
• They never explore anything.
• They are also called Laggards.
• They are pushed out of market when product loses
its marketability.

FABIAN ENTREPRENEUR
•  are always cautious.
• They neither introduce new changes nor adopt new
methods invented by others.
• They are lazy.
• They follow old customs, old method of production,
techniques.
Dell Customer Communication - Confidential
Dell Customer Communication - Confidential