Amity Business School

Module 1 : Qualities of Entrepreneur

Amity Business School
 Amity Business School

Dr Sucheta Agarwal, GLA

Amity Business School
 The father of
Amity Business School

entrepreneurship
• Joseph Alois Schumpeter is regarded as the
father of entrepreneurship.
• He introduced the concept of
entrepreneurship.
 Entrepreneurial Characteristics
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Self-confident
Entrepreneurs believe in themselves. Their self-confidence takes care
of any doubts they may have.
Flexible
Entrepreneurs must be flexible in order to adapt to changing trends,
markets, technologies, rules, and economic environments.
Independent
An entrepreneur’s desire for control and the ability to make decisions
often makes it difficult for them to work in a controlled environment.
Hardworking
Entrepreneurs need a great deal of energy to see a venture start and
succeed. Yet they are not deterred by the long hours to achieve their
goal.
 Entrepreneurial Characteristics
• Imaginative
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• Entrepreneurs are creative. They imagine solutions to problems that

encourage them to create new products and generate ideas.
• Persistent
• True entrepreneurs face bureaucracy, make mistakes, receive
criticism, and deal with money, family, or stress problems. But they
still stick to their dreams of seeing the venture succeed.
• Goal-setting
• Entrepreneurs are motivated by the excitement of staring a new
business. Once achieved, they seek out new goals or ventures to try.
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Entrepreneurial Characteristics
Being an entrepreneur requires specific characteristics and skills
that are often achieved through education, hard work, and
planning.

Risk Taker
Businesses face risk. Entrepreneurs minimize risk through
research, planning, and skill development.

Perceptive
Entrepreneurs view problems as opportunities and challenges.
Curious
Entrepreneurs like to know how things work. They take the time
and initiative to pursue the unknown.
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Venture idea generation
• Sources of idea generation are the people and places
from where you get your ideas. Several internal and
external sources help to generate ideas. Employees
and the research & development department of the
company are great internal sources. Whereas,
external sources are also very helpful. These are
customers, suppliers, competitors, distribution
channels, government, educational institutions, and
focus groups.
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18 Great Idea Generation Techniques for Smart Leaders - CareerCliff

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WOMEN ENTREPRENEURS
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INTRODUCTION
• Women Entrepreneur It may be defined as a woman
or group of women who initiate, organise and run a
business enterprise. Government of India has
defined women entrepreneurs as owning and
controlling an enterprise with a woman having a
minimum financial interest of 51% of the capital
and giving atleast 51% of the employment
generated in the enterprise to women.

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DEFINITION
• “Women who innovate initiate
or adopt business actively are
called women entrepreneurs.”
J.
Schumpeter
• “Women entrepreneurship is
based on women participation
in equity and employment of a
business enterprise.”
Ruhani j. alice
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QUALITIES OF WOMEN ENTREPRENEURS

• Accept challenges
• Ambitious
• Hard work
• Patience
• Motivator
• Adventurous
• Conscious
• Educated
• Intelligent
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FUNCTIONS OF WOMEN ENTREPRENEUR

planning organization

innovation

Decision making Risk bearing

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PROBLEMS OF WOMEN ENTREPRENEURS

General
problems

Problem of Marketing
raw material problem

Problem of Infrastructure Stiff

finance problem competition

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PROBLEMS OF WOMEN Amity Business School

ENTREPRENEURS (cont.…..)
Problem
specific to
women
entrepreneur

Male Lack of
dominated business
society information

Low risk taking Lack of Family

ability education problems

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REMEDIES TO SOLVE THE PROBLEMS

Finance cells

Markiting co-opratives

Supply of raw material

Education and awareness

Training facility

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Dr Sucheta Agarwal, GLA

 Barriers to entrepreneurship Amity Business School

(Why should we have some knowledge about barriers to

entrepreneurship?)

An understanding of the inhibiting factors or barriers will help

prospective entrepreneurs to develop a strategy to overcome
them .

A systematic study of the barriers will lead to a proper

understanding of the fields or areas in which they occur.

Once the barriers are clearly identified, the society, government

and other supporting agencies can develop effective programs
to tackle the issues to create a conducive entrepreneurial
climate.

Dr Sucheta Agarwal, GLA

 Amity Business School

Social
environment

Personal
Barriers
Economic
environment

Barriers

Political Cultural
environment Barriers

Dr Sucheta Agarwal, GLA

 Amity Business School
Others are
• Bureaucracy barriers
• Corruption
• Lack of viable concept
• Lack of marketing knowledge
• Lack of technical skills
• Time pressure
• Legal constraints
• Regional sentiments
• Social capital
• Labour
• Lack of awareness about funding organizations
• Problem of Internal management
• Financial barriers
• Role of training and development
Dr Sucheta Agarwal, GLA
Amity Business School
 Amity Business School
Definition of an entrepreneur
• “Someone with the drive, persistence, and mind-set
to change the world by filling a need in the
marketplace.” Pete Sveen – Think
[Link]
• “Entrepreneur is one who is involved in gathering
and using resources to make use of opportunities
to produce results.” Peter Drucker
• “Entrepreneurs are innovators who use the process
of shattering the status quo of existing products
and services to set new products, new services. He
describes entrepreneurs as innovators”. Joseph A.
Schumpeter Dr Sucheta Agarwal, GLA
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The term 'Entrepreneur' -French word
'Entreprendre’ (meaning to undertake
certain activities)
An entrepreneur is a person who combines various
factors of production, processes raw material,
converts the raw material into a finished product and
creates utility and sells the produce in the market to
earn profit.

ENTREPRENEURS ARE MADE AND NOT BORN.

 The father of
Amity Business School

entrepreneurship
• Joseph Alois Schumpeter is regarded as the
father of entrepreneurship.
• He introduced the concept of
entrepreneurship.
 Amity Business School

Problems of Entrepreneurship Development

Programmes (EDPs) are:
1. No Policy at the National Level. Though
Government of India is fully aware about the
importance of entrepreneurial development, yet we
do not have a national policy on entrepreneurship. It
is expected that the government will formulate and
enforce a policy aimed at promoting balanced
regional development of various areas through
promotion of entrepreneurship.

2. Problems at the Pre training Phase. Various

problems faced in this phase are — identification of
business opportunities, finding & locating target group,
selection of trainee & trainers etc.
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overview of setting up an enterprise with organizational forms- MSMED Act

Micro, Small, and Medium Enterprises Development Act, 2006

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