16th Century

Appeared in French Language. Referred as- who organized & lead Military expedition.

17 Century
Used to refer the economic activity.

18th Century
Richard Cantillon described as someone who undertakes a business venture with no guarantee of profits. 19th Century Entrepreneurship: Century which include actions and special skills were required for entrepreneurs.

An Entrepreneur is a person who organizes and manages a business undertaking, assuming the risk for the sake of profit. Person who make a significant difference Creative & Innovative Spot & Exploit opportunities. Find resources & competencies required to exploit opportunities Good Team ±builders & Networker. Determined in the face of adversity & competition Manage change & risk

Creativity Problem solving skills Decision taking ability Selling & Marketing their ideas Find resources required to exploit opportunities

ENTREPRENEURSHIP

Creation of an innovative economic organisation for the purpose of gain or growth under conditions of risk and uncertainty COMMON ELEMENTS OF ENTREPRENEURSHIP Creativity and Innovation Resource Gathering & the founding of an economic organization Chance for gain under risk & uncertainty

Entrepreneurship is the process of creating value by pulling together a unique package of resources to exploit an opportunity"

Entrepreneur

Entrepreneurship

Enterprise

Person

Process of Action

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Distinction between Creativity. Innovation & Entrepreneurship Creativity Getting Ideas Innovation Implementing Ideas By Entrepreneurship Human & Organizational Processes .

the concept of Entrepreneurship IDENTIFY THE ENTREPRENEUR State their: Business & Qualities (apart from Leadership) Think out of box .Keeping in mind.

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P.K. Singh Dhirubhai Ambani Kiran Mazumdar Shaw Subroto Roy Shahnaz Hussain Sabeer bhatia Mukesh Ambani Subhash Chandra's Sarath Babu .

ENTREPRENEUR CHARACTERISTICS Drive Leader Competitive Innovative skills Vision Motivation Self-confidence Results orientated Risk taker .

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ENTREPRENEUR FEATURES Capacity and willingness to assume risk Willingness to hard work Vision and foresightedness Creative and imaginative thinking Innovative and willingness to change .

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not education or training .66% of entrepreneurs claim they were inspired by innate (intrinsic) desire.

The age group showing the highest rate of entrepreneurial activity.20-35. Surprisingly. 36-64 age group has lower rate .

S. born entrepreneurs when they founded their companies .39 average age of U.

S. businesses are home based .50% of all U.

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8% of American entrepreneurs added employees over the past year .

8% of home businesses have revenues of $500.000 or more .000 or more 35% have revenues of $125.

TYPES OF ENTREPRENEUR INNOVATIVE Entrepreneur ADOPTIVE Entrepreneur FABIAN Entrepreneur DRONE Entrepreneur .

Launches new products.INNOVATIVE ENTREPRENEUR Sense the opportunities for Introduction of New Ideas. Can work only when definite level of progress discovers new markets. They focus on revolution and development. establishes new methods has been previously accomplished. New Technology of production Opening of New Markets. of production and restructures the enterprise. .

ADOPTIVE ENTREPRENEUR Imitate the existing entrepreneur & setup their enterprise in the same manner Instead of Innovating. . Suitable for underdeveloped countries. Imitate Technology Methods innovated by others Adopt victorious innovations launched by the innovative entrepreneurs. Duplicate the technology and techniques innovated by others.

old method of production. They are lazy. They neither introduce new changes nor adopt new methods invented by others. They are not adaptable to the changing environment . They imitate only in situations where it becomes necessary to do so. techniques. Adopt new technology whenRealize that failure to adopt will lead to loss or collapse of the enterprise Show by great caution and disbelief in experimenting any change in the organization. They follow old customs.FABIAN ENTREPRENEUR Always cautious.

Continue to operate in their tradition way & resist changes. who never allow any change in their production & style of functioning. . Drone Entrepreneurs suffer losses. as they refuse to make any modifications in the existing production methods. They are also called Laggards. They are pushed out of market when product loses its marketability Refuse to adopt changesThey are laggards. They never explore anything.DRONE ENTREPRENEUR They are Conservative or Orthodox in outlook.

passion. Intrapreneurs. the Intrapreneur succeeds. symbolizes the same characteristics as the ENTREPRENEUR. and drive. Gifford Pinchot coined the term "Intrapreneur" to describe employees of large corporations hired to think and act as entrepreneurs.INTRAPRENEUR Mid-80s. These characteristics might include conviction. Intrapreneur should ask for permission before attempting to create a desired future in practice . If the company is supportive. by definition.

INTRAPRENEUR Intrapreneur works overtime helping to run someone else's business. Person within a large corporation who takes direct responsibility for turning an idea into a profitable finished product Anyone who behaves with entrepreneurial spirit within a large organization . for the company's future.

´ Intrapreneurship involves using entrepreneurial behaviour within an organisation and a different but overlapping skills set is required .INTRAPRENEURSHIP Intrapreneurship refers to employee initiatives in organizations to undertake something new. without being asked to do so.

i t l r i l t ri l r l i tr r ti i f l ri l xperience it ot er experts such s external suppliers.INTRAPRENEURSHIP SKILLS Ext i l Pri r i tr Initi ti e ee pport nities t o-oper te t ot ers e not seen r eting. cceptance of risk olerance of ambiguit . . customers. ser ice provi ers.

Richard Li INTRAPRENEUR Mr.COMPANY IDEA STAR TV ENTREPRENEU R Mr. R Gopalakrishnan. Ratan Naval Tata TATA Chairman Kishor Chaukar & Arunkumar Gandhi Vittorio Colao (CEO) John Buchanan (Deputy Chairman) Andy Halford VODAFONE John Bond . Sanjeev Aga Mr. Peter Mukherjea Star Entertainment under Sameer Nair as the CEO . Ishaat Hussain. Kumar Mangalam Birla Mr.

ENTREPRENEURSHIP ENTREPRENEUR ‡ ‡ ‡ ‡ ‡ ‡ ‡ ‡ ‡ ‡ Person Organizer Risk Taker Innovator Good Planner Leader Decision-Maker Visualizer Administrator Initiator ‡ ‡ ‡ ‡ ‡ ‡ ‡ ‡ ‡ ‡ Process Organized form of Initiative Risk-taking activity Process of Innovation Planning for successful performance Crux of Leadership Decision making activity Vision Administration Taking Initiative .

INTRAPRENEUR Intrapreneur is employee Depends on the organization to implement his ideas Does not bear all the risk May not have high need achievement Attractive salary. He has to operate within the organisational policies . Profit is the reward May not have formal qualification Do not have any boundary for operations. promotion & incentives are the reward Should have some professional or technical qualification.ENTREPRENEUR Entrepreneur is employer Independent in operation Bears all the risk involved in Enterprise Exhibits higher need for achievement.

ENTREPRENUERS & ECONOMIC DEVELOPMENT OPTIMUM UTILISATION OF RESOURCES GENERATION OF EMPLOYMENT IMPROVEMENT IN STANDARD OF LIVING OF PEOPLE NEW/ IMPROVED GOODS & SERVICES HELP AGRI SECTOR PROMOTE INTERNATIONAL TRADE HELP COMMUNITY AT LARGE .

Amount is the largest from an international donor in Harvard¶s 102-year-old existence.EXAMPLE The Tata Group has donated a Rs 220 crores ($50 million) to the prestigious Harvard Business School (HBS) to build an academic and a residential building on the institute¶s campus in Boston. Employees 396.517 (2009-10) . New building will be called the Tata Hall and used for the institute¶s executive education programmes.

.ENTREPRENEURIAL CULTURE Entrepreneurial culture implies a set of VALUES (Principles. morals). ideals. behavior. individuality. personality. NORMS (Standard. ethics. qualities) that are conducive to the growth of entrepreneurship. rule) TRAITS (Character. persona.

and creating the entrepreneurial culture is their opportunity to see that everyone does it their own way. or can take place in meetings. or in other written forms. employee news letters. The entrepreneurs communicate what they believe is important for the organization to be doing. .ENTREPRENEURIAL CULTURE Entrepreneurs often start their business because they want to do things in their own way. This communication can be face to face.

and opportunity identification.while the worker servers the customer .ENTREPRENEURIAL CULTURE Entrepreneurial culture is different from the culture of traditional large organizations. Everyone can make a contribution to the firm¶s success. It is future oriented and emphasizes new ideas. the manager servers the worker. People feel empowered to manage their own jobs and time. risk taking. Communication is frequently horizontal and bottom up. creativity. and the common worker is a hero. .

Futuristic Short-term Focus.Dimension Strategy Productivity Risk Opportunity Leadership Power Failure Decision Making Structured Creativity Traditional Org Entrepreneurial Org Conservative Evolving. Short & long term. Profitability Multiple Criteria Punished Absent Top-Down Hoarded Costly Centralized Hierarchical Tolerated Emphasize & Rewarded Integral Culture of empowerment Given away Taken as a Lesson Decentralized Organic Prized & Worshiped .

Kao¶s Conceptual Model The Person The Environment Entrepreneurship The Task The Organizational Context .

Create wealth. Stimulates growth in sectors with increase in D & S. Utilize available manpower and resources that might have remain idle and put them into productive use. Facilitate and increase the need for technology. independence and status. . Increases productivity by means of innovation.Create jobs through the formation of new business ventures.

both financial and otherwise. .A group of experienced people from different areas of business who join to form a managerial team with the skills to develop. make and market a new product. in and commitment to the venture¶s future and success. whose work is interdependent in the pursuit of common goals and venture success. who are accountable to the entrepreneurial team and for the venture.ENTREPRENEURIAL TEAM An entrepreneurial team consists of two or more persons who have an interest. who are considered to be at the executive level with executive responsibility in the early phases of the venture. Entrepreneurial team . including funding and pre-start up.

legal form of business and entrepreneurial team depends on very complex conditions These conditions are separated into two parts: one related to human aspect and the other is legal organizational form . The choice of organizational structure. They have a stake in the venture. They want it to be successful and share it¶s success as well as failure.ENTREPRENEURIAL TEAM It means a group of people working together to pursue a common goal.

Why team is important? A solid team attracts venture capital Team can mitigate the pressures To take the venture beyond founder¶s abilities Their skills can complement and give edge to the venture .

demands and changes .HOW TO FORM A TEAM? Identify the requirement of your venture Search for skilled human resource Chalk out their responsibilities clearly Make them aware of the goal they have to accomplish Instill the sense of belongingness and team mentality Identify and maintain an awareness of environmental influences.

Concerned with activities. Thinking Style.³ET´ DEPENDS ON 4 COGNITIVE STYLES Initiation Style.Interest in cause & affect relationship Sensation. pattern & ideas Feeling Style.Concerned with possibilities.Focused on people & values. .

problems faced. Recommendations if any . social etc)favourable/unfavourable Process of starting a business venture.Choose an entrepreneur (In Raipur) as a case study. product/service provided Path to success-overcoming failures. takeovers. Understand his qualities. acquisitions SWOT of the organization/business in general. Factors that introduced him to entrepreneurship-push/pull Environment conditions (political. major milestones. use of innovation and creativity Details of the enterprise.

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Entrepreneurship Advantages You are your own boss Enjoy the profits from you efforts Sense of pride in your business Flexibility in your work schedule .

etc.Entrepreneurship Some Disadvantages Will need to put in long hours Need money to start Have to May have to keep up mark hard with decisions government (hiring.) regulations May lose money . rules and firing.