INTRODUCTION TO

ENTREPRENEURSHIP MANAGEMENT
INTRODUCTION OF
ENTREPRENEURSHIP MANAGEMENT

DEFINITION
According to Prof. Mussel man and Jackson : “Entrepreneurship is to start a business and
put money, times and efforts into it to make it a success, by bearing risks.” The above
definition has not included innovation in the sphere of entrepreneurship, so, the definition is
incomplete in the context of an underdeveloped economy.

According to prof. Rio and Math : “Entrepreneurship can be described as creative and
innovative response to the environment.” This definition can be said modern and dynamic. It
stresses on innovation and dynamic. It stresses on innovation and creativity. It says that
entrepreneurship is the competence to adopt changes, and creative ideas according to the
changing environment.
INTRODUCTION OF
ENTREPRENEURSHIP MANAGEMENT
CHARACTERISTICS OF OF ENTREPRENURSHIP

 RISK BEARING CAPACITY

 ENTREPRENEURSHIP TRAIT
 CREATIVE ACTIVITY
 RESULT OF CHANGES
 CREATION OF A RESOURCE
 ESSENTIAL IN ALL BUSINESS AND ECONOMICS
 ESSENTIAL IN EVERY ACTIVITY
 LOW RISK
INTRODUCTION OF
ENTREPRENEURSHIP MANAGEMENT
CHARACTERISTICS OF OF ENTREPRENURSHIP

 ABILITY TO INNOVATE
 KNOWLEDGE-BASED
 RESULT-ORIENTED BEHAVIOUR
 ENVIRONMENT-ORIENTED ACTIVITY
 PROCESS OF IDENTIFY TRANSFORMATION
 BUSINESS-ORIENTED TENDENCY
 PROFESSIONAL ACTIVITY
 MANAGEMENT IS THE BASIS OF ENTREPRENURSHIP
 BASED ON PRINCIPLE, NOT ON INTUITION
 ENTREPRENEURIAL SKILLS
INTRODUCTION OF
ENTREPRENEURSHIP MANAGEMENT
TYPES OF INTREPRENEURSHIP

 IMMITATIVE ENTREPRENURSHIP
 INCUBATIVE ENTREPRENURSHIP
 OPPORTUNISTIC ENTREPRENEURSHIP
 ADMINISTRATIVE ENTREPRENEURSHIP
 ACQUISITIVE ENTREPRENEURSHIP
 INTRODUCTION OF
ENTREPRENEURSHIP MANAGEMENT
IMPORTANCE OF ENTREPRENEURSHIP

Entrepreneurship is important for the development of a country as follow-

 Taking to higher rate of economic growth by creation of value.
 Speed up the process of industrial use of the factors of production.
 Creation of employment opportunities.
 Dispersal of economic activities to different sectors of economy and identifying new avenues of growth.
 Development of backward and tribal areas.
 Better social changes.
 Improvement of the standard of living of different weaker sections in the society.
 Bring socio political change in the society.
 Develop technological know-how.
 Improve culture of business and expand commercial activities.
 Entrepreneurship act as a change agent to meet the requirements of the changing market and customer preferences.
 Develop a culture of achievement orientation.