CHARACTERISTICS OF

AN ENTREPRENUR
 CHARACTERISTICS OF AN
ENTERPRENEUR
 Hard work
 Desire for High achievements
 Highly Optimistic
 Independence
 Foresight (Forecast)
 Innovative
 Vision
 Knowledge
 Value Addition
 Leadership
 Desire to control over their own fate
 Risk taking ability
 FUNCTIONS OF AN
ENTREPRENEUR
 Idea generation and scanning of the best
suitable idea.
 Determination of the business objectives.
 Product analysis and market research.
 Completion of promotional formalities.
 Raising necessary funds.
 Procuring machine and material
 Recruitment of men.
 Undertaking the business operation.
 Kilby enumerated 13 functions
1. Perceiving market opportunities
2. Gaining command over scarce resources
3. Purchasing inputs
4. Marketing of the products and
responding to competition
5. Dealing with public bureaucracy
(concession, licences, and taxes)
6. Managing human relations within the firm
7. Managing customer and supplier relations.
8. Managing finance
9. Managing production (control by written records,
supervision, coordinating input flows with
orders ,maintenance).
10. Acquiring and overseeing assembly of the
factory.
11. Industrial engineering ( minimising inputs with
orders, maintenance.
12. Upgrading process and product quality,
13. Introducing new production techniques
and products.
(1-4) exchange relationship
(5-7) political administration
(8-9) management control
(10-13) technology
 Functions of an entrepreneur
Can be classified into 3 broad categories:
1. Innovation
2. Risk-bearing
3. Organisation and management
 TYPES OF ENTREPRENEUR
 Innovating Entrepreneurs
 Imitative Entrepreneurs
 Fabian Entrepreneurs
 Drone Entrepreneurs
 Women Entrepreneurs
 Copreneurs
Some more types of Entrepreneurs
 Solo operators
 Active partners
 Inventors
 Challenges
 Buyers
 Lifetimers
 CLASSIFICATION BASED ON
OWNERSHIP
 Founder or pure entrepreneur
 Second generation of family owned
business
 Franchisees
 Owner-Managers
 Based on personality traits
 The Achiever
 The Induced Entrepreneur
 The Idea Generator
 The Real Manager
 The Real Achiever
 CLASSIFICATION BASED ON
THE TYPE OF BUSINESS
 Industrial Entrepreneur
 Trading Entrepreneur
 Corporate Entrepreneur
 Agriculture Entrepreneur
 Based on stages of development
 First generation Entrepreneur
 Modern Entrepreneur
 Classical Entrepreneur
 INTRAPRENEUR
 The entrepreneurs emerging from within
the confines of organisation are called
“Intrapreneur”. The intrapreneur are top
executive encouraged to catch hold of new
ideas to convert them into products.
Intrapreneurship serves as a seed-bed for
the development of innovative
entrepreneurship.
 FACTORS INFLUENCING
ENTREPRENEURSHIP
1.Background factors
 Education ,training, and experience
 Family role models and association with
similar type of individuals
 Financial conditions
2. MOTIVATIONAL FACTORS
 Need for achievement
 Personal motives/ expectations
 Business environment
3.ECONOMIC FACTORS
 Supportive government policies
 Availability of financial assistance from
various funding bodies
 Ancillary support
 Availability of technical factors like
premises, electricity, labour.
4. Reward factor
 Recognition
 Social status
 COMPETENCIES OF
ENTREPRENEUR
1. Initiative
2. Looking for opportunities
3. Persistence
4. Information seeker
5. Quality conscious
6. Committed to work
7. Efficiency seeker
8. Proper planning
9. Problem solver
10. Self- confidence
11. Assertive
12. Persuative
13.Efficient monitor
14. Employees well wisher
15. Effective strategist
 Competencies and quality of
successful Entrepreneur
1. Enterprising
2. Risk Bearer
3. Creative thinker
4. Ambitious
5. High need achievement
6. Change agent
7. Hard and tenacious worker
8. Good organiser, manager and
administrator
9. Good and prompt decision-maker
10. Strong commitment and firm
determination.
 Competencies that are characteristics of successful
entrepreneur

Practivity
1.Initiative
2. Assertiveness
Achievement orientation
3. Sees and acts on oppurtunities
4. Efficiency orientation
5. Concern for high Quality work
6. Systematic planning
7. Monitoring
Commitment to others
8. Commitment to work contract
9. Recognizing the importance of business
relationships.
 The procedure for developing
competencies
It contains four steps:
1. Competency recognition
2. Self assessment
3. Competency application
4. Feedback