EHS405 ED1 For Class

EHS405:
ENTREPRENEURSHIP
DEVELOPMENT (ED)
Presented by:
E.Veera Pratap
Assistant Professor
Department of Mechanical Engineering
GITAM
Hyderabad Campus
EHS405: ENTREPRENEURSHIP DEVELOPMENT
SOCIAL
BUSINESS FAMILY ENTREPRENEURS
SOURCES OF PLAN BUSINESS HIP
INNOVATIVE ES
IDEAS
INTRODUCTI
ON
3
4
Learning OUTCOMES:
After completing this unit, student will be able to:
• Apply the concept of Entrepreneurship
• Understand the characteristics of Entrepreneur
• Analyze the theories of entrepreneurship
• Understand the role of Enterprise in Economic development
• Apply the concept of Corporate Entrepreneurship
5
Module 1
Entrepreneurship
Entrepreneur
Entrepreneurial Mindset
Theories of Entrepreneurship
Motivation for Entrepreneurship
Role of Entrepreneurship in
Economic Development
Entrepreneurial Development
Programs (EDP)
Corporate Entrepreneurship
6
7
Entrepreneurship is the process of
creating value
by
bringing together
a unique package
of
resources to exploit an opportunity.
8
9
Package of Resources
From Organization:
• Delivery Person
• Maintenance of their APP
From Customer Side

• Smart Phone
• Swiggy App
• Internet Access
10
ONCEPT OF ENTREPRENEURSHIP
A FROM IDEA TO BUSINESS
SEEKING INVESTMENT AND

B PRODUCTION OPPORTUNITY
ORGANISING AN ENTERPRISE TO
C
UNDERTAKE A NEW PRODUCTION PROCESS
D RISING
CAPITAL
E HIRING LABOR
ONCEPT OF ENTREPRENEURSHIP
F ARRANGING THE SUPPLY OF RAW

MATERIALS
G FINDING SITE
INTRODUCING NEW
H TECHNIQUES AND
COMMODITIES
I DISCOVERING NEW
RESOURCES OF RAW
MATERIALS
J SELECTING
MANAGERS
ENTREPRENEURSHIP DEVELOPMENT
INNOVATION
IS THE
GATEWAY
ALLOW
GLOBAL
MARKET
USE OF A ENTRY
NEW
OPTIMUM METHOD OF
UTILIZATIO PRODUCTIO
N OF N
RESOURCES
Importance of Entrepreneurship
Reduces Poverty Level
Increases Employment
Fulfills the Demand of People
Improves standard of living
Helps to Develop a Economic Condition of a Country

14
Causes of failure of the Entrepreneurship
Lack of Technical Skills
Lack of marketing strategy skills
Lack of investment
Legal constraints and regulations

15
ENTREPRENEURS
They are open minded They are Creative
INNOVATO
They have passion
They are Confident SomebodyR who sees a
new opportunity and
creates a business to
exploit it
They have strong work
They are Disciplined
ethic
Entrepreneur is an individual
who takes risk and starts
something new enterprise.
17
Source: https://www.quora.com/What-is-the-difference-between-a-businessman-and-an-entrepreneur 18
Entrepreneur ----- Person
Entrepreneurship ----- Process

(collection of activities)
Enterprise ----- Object
19
Some of the Real Entrepreneurs
Azim Premji – Chairman of
Wipro Limited
Dhirubhai Ambani – Founder of

Reliance Industries
J R D Tata – Founder of Air India,

Tata Motors
Rahul Bajaj – Chairman of Bajaj

Group
20
Some of the Real Entrepreneurs
Sunil Mittal – Founder
of Bharthi Airtel
Steve Jobs – Founder

of Apple Inc.,.
Bill Gates – Founder of

Microsoft Corporation
21
EVOLUTION OFOF
EVOLUTION
ENTREPRENEURSHIP
ENTREPRENEUR A
SHIPEARLIEST PERIOD
A EARLIEST PERIOD
In this
th is period
p e rio dthethcapitalist
e c a p itaentered
list e ninto
te read in to
contract
a c o n tra
with
c t the
w ithgo-between
th e g o -b(Merchant)
e tw e e n to sell
his goods
(Me rc h a n t) to se ll h is g o o d s
MIDDLE AGES
MIDDLE
B
The
Th e term
AGES te rmentrepreneur
e n tre p re nwas
e u r referred to rre
w a s re fe a person
d to B
who
a p ewas
rso nmanaging
p ro je c ts.
w h o w alarge
s m aprojects.
n a g in g la rg e
D
C 17TH TH CENTURY
An entrepreneur
e n tre p re n ewas
u r wa aperson
s a p ewhorso entered
n w h o into
CENTURY
ae ncontractual
te re d in toarrangement
a c o n tra cwith
tu a the
l govt. to
perform
a rra n g ea m
service
e n t worithtoth
supply
e g o some
vt. to goods.
p e rfo rm
a se rvic e o r to su p p ly so m e g o o d s.
C
19THTH CENTURY
D
Entrepreneur
En tre p re n e uisr an
is ainnovator
n in n o vaand
to develops
r a nd
CENTURY
untried
d e ve lotechnology
p s u n trie d te c h n o lo g y
• The term ‘entrepreneur’ has been
Evolution of defined in many ways and various
Entrepreneurship
senses:
20th
• Risk Bearer (who bear uncertainty)
century
• Organizer (art of administration)
• Innovator (introduction of a new product)
23
Difference between Entrepreneur and
Businessman
Entrepreneur Businessman
• Use New Idea • Use Existing Idea
Polling Time for Entrepreneur
24
Characteristics of
Entrepreneur
1. Hard Work
2. Desire for High Achievement
3. Highly Optimistic
4. Independence
5. Foresight
6. Good Organizer
7. Innovative
8. Perseverance
9. Team Spirit
25
HARACTERISTICS OF ENTREPRENEUR
HARD WORK
A There is no substitute for Hard Work.
DESIRE FOR HIGH ACHIEVEMENT

B The entrepreneurs have a strong desire to achieve high goals in
business.
HIGHLY OPTIMISTIC
C The successful entrepreneurs have a positive approach towards
things. They do not get disturbed by the problems faced by
them.
VISION
INDEPENDENC
D One
E of the common qualities of the successful entrepreneurs has been that they
do not like to be guided by others and to follow their rules. They like to be
independent in the matters of their business..
FORESIGHT
E The entrepreneurs have a good foresight to know about future business
environment. They will visualize the likely changes to take place in market,
consumer attitude and taste, technological developments, etc.,.
GOOD ORGANIZER
F Various resources required for production are owned by different owners. Then, it is the
ability of the entrepreneur who brings together all required resources for setting up an
enterprise and then produces goods.
KNOWLEDGE
INNOVATIVE
G In view of the changing requirements of the customers from time to time, the
entrepreneurs initiate research and innovative activities to produce goods to
satisfy the customers.
PERSEVERANCE
H Entrepreneurs do not give up their effort even if they fail. They undergo lots and lots
of failures, but do not become disheartened.
TEAM SPIRIT
I Successful entrepreneurs build teams and work with teammates. Team results in
synergy. They share collective accountability for the outcome of the team’s effort.
LEADERSHIP
Characteristics of
Entrepreneur
Desire for High Achievement:
Sunil Mittal
• Making Cycle Parts (did not work)
• Bharati Healthcare for making capsules (did not work)
• Manufacture Push Button Telephones ( Since then

there was no looking back),
• Fax machines
• His entry into mobile sector with Airtel brand.

29
Characteristics of
Entrepreneur
Highly Optimistic:
Thomas Alva Edison
• I have not failed. I've just found 10,000 ways
that won't work.
• Genius is one percent inspiration and ninety-
nine percent perspiration.
30
Characteristics of
Entrepreneur
Foresight:
N R Narayana Murthy
Infosys Founder
presents an excellent example of business foresight.
31
Characteristics of Entrepreneur
Innovative:
keypad mobiles
smart phones
upcoming smart phones
32
33
34
35
Polling Time:
Characteristics of YOU
36
Module 1
Entrepreneurship
Entrepreneur
Programs (EDP)
37
SCAN for References
38
Click for References
https://drive.google.com/drive/folders/1TzmbPuSHetJ0B8M_Cw1iJWy-5eZceiaJ
https://books.google.co.in/books?id=RMdQoW3v9QgC&printsec=frontcover#v=onepage&q&f=false
39
ENTREPRENEUR
IAL MINDSET
40
What is an Entrepreneurial Mindset?
•A way of thinking that enables you to overcome

challenges, be decisive, and accept responsibility
for your outcomes.
•It is a constant need to improve your skills, learn

from your mistakes, and take continuous action on
your ideas.
•Anyone willing to do the work can develop an
entrepreneurial mindset.
41
Source: https://www.sme10x.com/people/begin-with-an-entrepreneurial-mindset 42
ENTREPRENEURIAL MINDSET
Using resources smartly

MINDSET
Managing risk
• The established attitudes held by someone.
• The ability to quickly sense, take action and get
Turning ideas into action organized under uncertain conditions.
• Includes the ability to persevere, accept and learn
from failure, and get comfortable with a certain
Seeing and creating opportunities level of discomfort.
According to
Dr. Carol Dweck
Stanford
University, US
44
45
FIXED
MINDSET
46
GROWTH
MINDSET
Fixed Mindset
• I’m either good at it or I’m not
• When I’m frustrated, I give up
• I don’t like to be challenged
• If you succeed, I feel threatened
• My abilities determine everything
47
Growth Mindset
Entrepreneurial Mindset • I can learn anything, I want to
• When I’m frustrated, I persevere
• I want to challenge myself
• If you succeed, I’m inspired
• My effort and attitude determine everything
48
ENTREPRENEURIAL MINDSET
Perseverance Learning
Successful entrepreneurs are able to draw lessons When a problem occurs, a successful entrepreneur
from rejection, as well as prevent it from sees it as a learning opportunity.
damaging their self-esteem.
MINDSET
Flexibility Curiosity
You must be flexible enough in your thinking to A wide-ranging curiosity about how the world
roll with the punches, solve problems as soon as works and where things tie together is extremely
they crop up, and recover quickly from setbacks. The established attitudes held common among successful entrepreneurs.
. by someone
High internal locus of control Optimism

They see that their own actions, decisions, and Despite all the difficulties inherent in the
responses are what will make or break them – not entrepreneurial lifestyle, successful entrepreneurs
what the outside world throws at them. maintain an optimistic view of life and the world.
Source: https://www.ntaskmanager.com/blog/growth-vs-fixed-mindset/
50
Source: https://nothingventured.rocks/hire-people-with-a-growth-mindset-b6554c0abe3 51
Why This Might Why This Might

v/s
Work? Fail?
52
Why do we need an Entrepreneurial
Mindset ?
• We are all making decisions with limited

information.
• We take on a certain amount of risk.
• Competition is changing
53
Why do we need an
Entrepreneurial Mindset ?
• The market is changing.
• Product and service lifecycles

are shorter and shorter.
54
Polling Time:
What kind of Mindset do

you have?
Do you have
Entrepreneurial Mindset?
55
Theory of
Entrepreneurship
56
Theory of Entrepreneurship
• Theories of entrepreneurship
are prepositions that help to
• understand
• explain
• predict and
• influence entrepreneurship.
57
Theory of Entrepreneurship
• A consistent universal theory does not exist in entrepreneurship,

but rather it consists of different approaches.
• Theory of entrepreneurship helps us to understand phenomena

better. Understanding theory one can apply the same in practice
more effectively.
58
Economic Theory of Entrepreneurship
Sociological Theory of Entrepreneurship
Theories of Psychological Theory of Entrepreneurship

Entrepreneurship
Innovation Theory of Entrepreneurship
Achievement Motivation Theory of

Entrepreneurship
59
Economic Theory of
Entrepreneurship
60
• Economic incentives
are the main motivators of entrepreneurial activities.
61
Economic incentives
• Tax Benefits or Taxation Policy
Image source: https://www.dreamstime.com/illustration/benefits-icon-tax.html
62
Economic incentives
• Industrial policy 1991
63
Industrial Policy 1991
Industrial policy means rules, regulations , principles , policies , and

procedures laid down by government for regulating , developing
and controlling industrial undertakings in the country.
Foreign Investment
De Licensing
64
Economic incentives
• Source of finance and raw materials
65
Sources of Finance:
Government Grants and Subsidies
Angel Investors
66
Economic incentives
• Infrastructural availability
• Investment and marketing opportunities
• Access to information about market conditions
• Transportation Facilities
• High ROI (Return on Investment)
67
Sociological Theory of
Entrepreneurship
68
• Entrepreneurship is likely to get a boost in a particular social culture.
• The behavior of individuals in a society is influenced by:

• Society’s values,
• Religious beliefs,
• Taboos influence the behavior of individuals in a society.
69
The entrepreneur is a role performer according to the role expectations by
the society.
Theories of Entrepreneurship:
Sociological Theory of Entrepreneurship
70
71
Psychological Theory
of Entrepreneurship
(by David McClelland)
According to McClelland the characteristics of entrepreneur has two
features:
• Doing things in a new and better way
• Decision making under uncertainty
72
Entrepreneurship gets boost when society has sufficient supply of
individuals with necessary psychological characteristics.
These psychological characteristics include:

• Need for Achievement
• A vision foresight
• Ability to face opposition
73
74
Achievement
Motivation Theory of
Entrepreneurship
(by David McClelland)
Achievement Motivation Theory of Entrepreneurship (by David McClelland)
• Motivation is the driving force behind a person's actions.
• Achievement Theory of Motivation is all about

• how needs of an individual change over a period of time with changes in his
experience.
75
According to McClelland a person acquires three types of needs as a result
of one’s life experience, these three needs are:
Need for Achievement
Need for Affiliation
Need for Power

76
DOMINANT CHARACTERISTIC OF PERSON

MOTIVATOR
Achievement • Has a strong need to set and accomplish challenging goals.

• Takes calculated risks to accomplish their goals.
• Likes to receive regular feedback on their progress and
achievements.
• Often likes to work alone.
77

MOTIVATOR
Power • Wants to control and influence others.

• Likes to win arguments.
• Enjoys competition and winning.
• Enjoys status and recognition.
78

MOTIVATOR
Affiliation • Wants to belong to the group.

• Wants to be liked, and will often go along with whatever the rest of
the group wants to do.
• Favour’s collaboration over competition.
• Doesn't like high risk or uncertainty.
79
80
Innovative Theory of
Entrepreneurship
(by Schumpeter)
• Development implies carrying one of new combinations of
entrepreneurship.
• Entrepreneur is a man who sees opportunity
• ‘Entrepreneur’ is an innovator– who carry new combination of:
• Introduces a new goods or services.
• Introduces a new method of production.
• Opens up a new market.
• Finds out a new source of raw material supply.
• Introduces a new organization in any industry.
81
82
83
84
85
86
NEW Market
87
New Services
88
Polling Time:
Can you
identify the
combination
of products?
89
Module 1
Entrepreneurship
Entrepreneur
Programs (EDP)
90
91
SCAN for References
92
Click for References
https://drive.google.com/drive/folders/1TzmbPuSHetJ0B8M_Cw1iJWy-5eZceiaJ
https://books.google.co.in/books?id=RMdQoW3v9QgC&printsec=frontcover#v=onepage&q&f=false (ED by Hisrich)
https://books.google.co.in/books?id=uUdLAgAAQBAJ&printsec=frontcover&source=gbs_ge_summary_r&cad=0#v=onepage&q&f=false (ED by S.S Khankha)
93
94
Motivation for
Entrepreneurship
Don’t Waste
Your TIME
Motivation
SUCCESS
EFFORT
DESIRE
EDUCATION
Source:
https://www.pinterest.ph/pin/3
55151120617535936/
96
• Motivation is the inner spirit that activates and direct our
behavior towards our goal.
• The entrepreneurial motivation is the process that activates

and motivates the entrepreneur to exert higher level of efforts
for the achievement of his/her entrepreneurial goals.
97
Entrepreneurial Motivating Internal Factors
98
99
Entrepreneurial
DESIR
Motivating
Internal Factors E
Desire to do something new
Entrepreneurial Motivating
Internal Factors
Become independent
Independent
100
Entrepreneurial
Motivating Internal
Factors
Achieve what one wants to have

in life
ACHIE
VE 101
Entrepreneurial
Motivating Internal
Factors
Be recognized for one’s

contribution
Recogniz
e 102
Internal Factors
One’s educational background
Educatio
n 103
Entrepreneurial
Motivating Internal
Factors
One’s occupational background and

experience in the relevant field
Occupatio
n 104
Entrepreneurial Motivating External Factors
105
External Factors
Government assistance and

support.
Governmen
t 106
Entrepreneurial
Motivating External
Factors
Availability of labour and raw material
Labor and Raw

Material
107
Entrepreneurial
Motivating
External Factors
Encouragement from big
business houses
Encouragemen
t Angel
Investors
108
Entrepreneurial
Motivating External
Factors
Promising
demand for
the product
Demand
Fruits
109
Entrepreneuria
l Motivating
External
Factors
Profit
Margin
11
0
Polling Time:
If you want to become an entrepreneur, What are the
motivating factors that influence you?
111
112
What causes
Economic
Development?
Entrepreneurship
113
What is the significance of
entrepreneurship for economic
development?
Source: S S Khanka. Entrepreneurial Development (p. 43). Chand

(S.) & Co Ltd ,India. Kindle Edition.
114
Source:
https://evoma.com/business-c
entre/7-roles-of-entrepreneurs
hip-in-economic-development-
of-a-country/
115
Regional Development
The growth of industries and business

in these areas leads to infrastructure
improvements like better SCHOOLS,
HOSPITALS, STABLE
ELECTRICITY AND WATER
SUPPLY.
116
Improve Standard of Living
• Goods at lower prices
• Improvement in the quality of life
117
Exports
• Expand foreign markets
• Stable business revenue
118
Community Development
• For example, you need highly educated and skilled workers in a community to attract new
businesses. If there are educational institutions, technical training schools and internship
opportunities, that will help build the pool of educated and skilled workers.
Azim Hashim Premji,

Chairman of Wipro Limited,
who donated Rs. 27,514
crores for promoting
education through the Azim
Premji Foundation. This
foundation works with more
than 350,000 schools in eight
states across India.
119
So, there is a very important role for entrepreneurs to spark
economic development by
• starting new businesses,
• creating jobs, and
• contributing to improvement in various key goals such as GDP,
exports, standard of living, skills development and community
development
120
Polling Time:
What are the roles of Entrepreneurship in

Economic Development?
121
Entrepreneurial
Development
Programmes (EDPs)
122
EDP Generate Self Employment for Youth
EDP to develop entrepreneurial

abilities among the people.
It refers to inculcation, development and polishing of entrepreneurial skills into a person

needed to establish and successfully run the enterprise.
123
Develop Acquire
Develop and
strengthen the
entrepreneuri
01 06
Acquire the
necessary
managerial
al activity skills required
to run a small-
scale industry
Process Objective Pros

Understand
the process
and procedure
02 s of EDPs 05 Know the pros
and cons in
becoming an
involved in entrepreneur.
setting up a
small
enterprise
Sources Vision
Know the
sources of help
and support
03 04 Develop a
broad vision
about the
available for business.
starting a
small-scale
industry
The major activities of the Institute include
• Training of Trainers,
• Management Development Programmes,
• Entrepreneurship-cum-Skill Development
Programmes,
• Entrepreneurship Development Programmes Noida Office
A-23, Sector-62,
and Cluster Intervention. Institutional Area
NIESBUD has provided training to 12,24,433 Noida - 201309, NCR of Delhi, U.P, India
persons as of March 31, 2020
125
It promotes
• research ,
• training and institution building activities
• by encouraging active participation of backward
areas and special target groups in
entrepreneurship.
Entrepreneurship Development Institute of India (EDII).
(Via Ahmedabad Airport & Indira Bridge),
P.O. Bhat 382 428,Dist. Gandhinagar,
Gujarat, India.
126
MSME-DI, Hyderabad assists
• existing and prospective entrepreneurs
• by providing techno-managerial consultancy
services and training in various areas.
MSME-Development Institute,
Hyderabad
Narsapur Cross Roads, Balanagar,

Hyderabad - 500 037.
127
Phases of EDP
Post-training
Pre-training Training
Phase
Phase Phase
(Follow Up)
128
Pre-training Phase
Selection of entrepreneurs. Activities

Tie-up of guest faculty for the training purposes.
Selection of necessary tools and techniques to select the

suitable entrepreneurs.
Formation of selection committee for selecting trainees.
Designing of Course Curriculum or Contents.

129
Training Phase
The main objective of this phase is to bring desirable change in the

behaviour of trainees
• Raising the motivation level of entrepreneurs.

• Developing a goal directed behaviour pattern.
• Raising positive thinking & belief.
130
Post-training Phase (Follow Up)
The objective of EDP is to prepare the participants to start their

enterprises.
• This phase involves the assessment to judge how far the objectives have
been achieved.
• The purpose behind EDP follow-up is to:

• Review the pre-training work.
• Review the process of training programme.
• Review past training approach. 131
Evaluation of EDPs
Assess the effectiveness of EDPs in motivating the
entrepreneurs:
• Activity level of the respondents
• New enterprise established
• Number of people employed
• Number of jobs created

132
Evaluation of EDPs
Assess the effectiveness of EDPs in motivating the
entrepreneurs:
• Increases in profit
• Increases in sales
• Quality of product improved
• Quicker repayment of loans

133
Polling Time:
For Understanding
134
Entrepreneur
https://www.thebetterindia.com/236729/thane-society-sustainable-home-organic-garden-solar-power-ear
ns-lakhs-india-gop94/
135
Vijay Garden society in Thane
Grows
Organic
Entrepreneur
Vegetables in
150 buckets
136
137
Vijay Garden society in Thane
Solar plant
Entrepreneur helps them save up
to
Rs 40,000 per
month
138
139
Corporate
Entrepreneurship
140
Source:
https://www.benzinga.c
om/general/10/09/4986
71/google-an-ecosyste
m-of-entrepreneurs
141
142
Reliance Petroleum
Retail
143
Corporate
Entrepreneurship
144
It is the
Entrepreneurial
Action within an
Established
Organization
145
It is the
Entrepreneurial
Action within an
Established
Organization
146
Corporate entrepreneurship is the process by which
individuals inside the organization pursue
opportunities without regards to the resources they
currently control.
147
148
Corporate Entrepreneurship encompasses of

the 3 phenomenon. That may or may not be
interrelated.
New
The birth of new
business firm
New
Transformati
Transformati onTransformation of
the existing firm
on
Innovatio
n Innovatio
n
Introduce new
products, new
methods of
production
The need for Corporate Entrepreneurship
Growth Competition
Rapid growth in the International
number of new Competition
competitors
Distrust Downsizing
Sense of distrust in Downsizing of Major
the traditional Corporations
methods of
corporate
management
Small Efficienc
Business
Some of the best
and brightest people y
An overall desire to
improve efficiency
from corporations and productivity.
to become small
business
entrepreneurs.
Objectives of Corporate Entrepreneurship
• Cultivate(try to develop) innovation and creativity within enterprise.
• Creating an entrepreneurial organisation.
• Organising around teams.
• Assessing enterprises as “intelligent organisations”.
151
Hierarchy of terminology in Corporate Entrepreneurship
Entrepreneurship
Corporate Individual
Entrepreneurship Entrepreneurship
Corporate Strategic
Venturing Innovation Renewal
152
Corporate Venturing:
• Refers to corporate entrepreneurial efforts that lead to the creation of new
business organizations or divisions within the corporate organization.

• They may follow from or lead to innovations that exploit new markets, or
new product offerings, or both .
• These venturing efforts may or may not lead to the formation of new
organizational units that are distinct from existing organizational units in a
structural sense (e. g., a new division).
153
• External corporate venturing:

• Joint ventures
• Spin off (a type of corporate transaction forming a new company
or entity)
154
• Internal corporate venturing:

• Integration
• New divisions
155
156
Corporate Entrepreneurship: Strategic Renewal
• Refers to the corporate entrepreneurial efforts that result in significant

changes to an organization's business or corporate level strategy or
structure.
• These changes alter pre-existing relationships within the organization and

its external environment and in most cases will involve some sort of
innovation.
157
Corporate Entrepreneurship: Innovation
Innovation is the implementation of a new or significantly
• Improved product (good or service),
• Process
• A new marketing method
• A new organisational method in business practices, workplace

organisation or external relations (OECD, 2005).
158
Innovation: To
Survive
To Meet the Why Increase

Customer
Expectations Innovation? Revenue
Attracts
New
Markets
159
Types of Innovation in Corporate Entrepreneurship
Radical Innovation
• New to the entire world
• Example: Google Glass, Google Search
• Helps in increasing the market share
Incremental Innovation
• New to the organization itself
• Example: Autocomplete, Voice search etc.,.
• Market share remains same
160
Salesforce.com, inc. is an American cloud-based software
company headquartered in San Francisco, California.
16
1
162
163
Benefits of Corporate Entrepreneurship
• Availability of Resources
• Brand Recognition
• Increase Sales Force
• Attracting and Retaining Talented Employees
• Boosting the Profitability of the Organization
• Improves Proactiveness in the Organization
164
Polling Time:
165
Young
Entrepreneur
166
Ritesh Agarwal is an Indian entrepreneur,
the founder and CEO of OYO Rooms
167
Assignment 1
168
16
9
Entrepreneurship
Module 1 Entrepreneur
Role of Entrepreneurship in Economic Development
Entrepreneurial Development Programs (EDP)
170
Thank You
171

EHS405 ED1 For Class

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EHS405 ED1 For Class

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EHS405:

After completing this unit, student will be able to:

• Apply the concept of Entrepreneurship

• Understand the characteristics of Entrepreneur

• Analyze the theories of entrepreneurship

• Understand the role of Enterprise in Economic development

• Apply the concept of Corporate Entrepreneurship

Motivation for Entrepreneurship

From Customer Side

A FROM IDEA TO BUSINESS

SEEKING INVESTMENT AND

F ARRANGING THE SUPPLY OF RAW

Fulfills the Demand of People

Improves standard of living

Helps to Develop a Economic Condition of a Country

Lack of marketing strategy skills

Legal constraints and regulations

They are open minded They are Creative

Entrepreneurship ----- Process

Enterprise ----- Object

Dhirubhai Ambani – Founder of

J R D Tata – Founder of Air India,

Rahul Bajaj – Chairman of Bajaj

Steve Jobs – Founder

Bill Gates – Founder of

Polling Time for Entrepreneur

DESIRE FOR HIGH ACHIEVEMENT

• Bharati Healthcare for making capsules (did not work)

• Manufacture Push Button Telephones ( Since then

• His entry into mobile sector with Airtel brand.

upcoming smart phones

Motivation for Entrepreneurship

•A way of thinking that enables you to overcome

•It is a constant need to improve your skills, learn

Using resources smartly

High internal locus of control Optimism

Why This Might Why This Might

• We are all making decisions with limited

• We take on a certain amount of risk.

• The market is changing.

• Product and service lifecycles

What kind of Mindset do

• A consistent universal theory does not exist in entrepreneurship,

• Theory of entrepreneurship helps us to understand phenomena

Sociological Theory of Entrepreneurship

Theories of Psychological Theory of Entrepreneurship

Achievement Motivation Theory of

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• Industrial policy 1991

Industrial policy means rules, regulations , principles , policies , and

• Source of finance and raw materials

Government Grants and Subsidies

• The behavior of individuals in a society is influenced by:

• Taboos influence the behavior of individuals in a society.

• Doing things in a new and better way

• Decision making under uncertainty

These psychological characteristics include:

• Motivation is the driving force behind a person's actions.

• Achievement Theory of Motivation is all about

Need for Achievement

Need for Affiliation

Need for Power