ENTREPRENEURSHI

P DEVELOPMENT
BY,
SASIKALA R,
ASSISTANT PROFESSOR
Table of contents

0 0 Entrpreneurship,
Introduction
1 2 EDP

0 Qualities of a 0 Functions of a
3 Entreprenur 4 Entreprenur

0 Difference between 0 Difference between

Entrepreneur & Entrepreneur and
5 Entrepreneurship 6 Intrapreneur
 Introduction
ENTREPRENEUR: A person who sets up a business
or businesses, taking on financial risks in the hope of
profit.
An entrepreneur is an individual who creates a new
business, bearing most of the risks and enjoying most
of the rewards.
The entrepreneur is commonly seen as an innovator, a
source of new ideas, goods, services, and business/or
procedures.
 Entrepreneurship

Entrepreneurship refers to the process

of creating a new enterprise and
bearing any of its risks, with the view of
making the profit.

ENTREPRENEURSHIP
DEVELOPMENT PROGRAMME: EDP
may be defined as a programme
designed to help a person in
strengthening his entrepreneurial
motives and in acquiring skills and
capabilities necessary for playing his
entrepreneurial role effectively and
efficiently.
Qualities of a Successful Entrepreneur
Disciplined Confidence

Successful entrepreneurs The entrepreneur does not

are disciplined enough to ask questions about whether
take steps every day they can succeed or whether
toward the achievement they are worthy of success.
of their objectives. They are confident with the
knowledge that they will
make their businesses
succeed. They implement
that confidence in everything
they do.
Qualities of a Successful Entrepreneur
Open minded Self-Starter
Entrepreneurs realize that Entrepreneurs know that if
every event and situation is something needs to be done,
a business opportunity. they should start it themselves.
Ideas. They have the ability They set the parameters and
to look at everything make sure that projects follow
around them and focus it that path. They are proactive,
toward their goals. not waiting for someone to give
them permission.
Qualities of a Successful Entrepreneur
Competitive Creativity
Many companies are One facet of creativity is being
formed because an able to make connections
entrepreneur knows that between seemingly unrelated
they can do a job better events or situations.
than another. They need to Entrepreneurs often come up
win at the sports they play with solutions which are the
and need to win at the synthesis of other items. They
businesses that they will repurpose products to
create. An entrepreneur market them to new industries.
will highlight their own
company’s track record of
success.
Qualities of a Successful Entrepreneur
Determination Strong people skills
Entrepreneurs are not The entrepreneur has strong
thwarted by their defeats. communication skills to sell
They look at defeat as an the product and motivate
opportunity for success. employees. Most successful
They are determined to entrepreneurs know how to
make all of their endeavors motivate their employees so
succeed, so will try and try the business grows overall.
again until it does.
Successful entrepreneurs do
not believe that something
cannot be done.
Qualities of a Successful Entrepreneur
Strong work ethic Passion
The successful Passion is the most important
entrepreneur will often be trait of the successful
the first person to arrive at entrepreneur. They genuinely
the office and the last one love their work. They are
to leave. They will come in willing to put in those extra
on their days off to make hours to make the business
sure that an outcome meets succeed because there is a joy
their expectations. Their their business gives which
mind is constantly on their goes beyond the money.
work, whether they are in
or out of the workplace.
Functions of a Entreprenur
 Decision Making
 Management Control
 Division of Income
 Innovation
 Risk-Taking and Uncertainty-Bearing
1. Decision Making: The primary task of an entrepreneur is to decide
the policy of production. An entrepreneur is to determine what to
produce, how much to produce, how to produce, where to produce, how
to sell and so forth. Moreover, he is to decide the scale of production
and the proportion in which he combines the different factors he
employs.
2. Management Control: Management and control of the business are
conducted by the entrepreneur himself. So, the latter must possess a
high degree of management ability to select the right type of persons to
work with him. But, the importance of this function has declined, as
business nowadays is managed more and more by paid man-agers.
Functions of a Entreprenur
3. Division of Income: The next major function of the entrepreneur is
to make necessary arrangement for the division of total income among
the different factors of production employed by him. Even if there is a
loss in the business, he is to pay rent, interest, wages and other
contractual incomes out of the realised sale proceeds.
4. Innovation: Another distinguishing function of the entrepreneur, as
emphasised by Schumpeter, is to make frequent
inventions — invention of new products, new techniques and
discovering new markets — to improve his
competitive position, and to increase earnings.
Functions of a Entreprenur
5. Risk-Taking and Uncertainty-Bearing: Risk-taking is perhaps
the most important function of an entrepreneur. Modern production
is very risky as an entrepreneur is required to produce goods or
services in antici-pation of their future demand.
Broadly, there are two kinds of risk which he has to face. Firstly,
there are some risks, such as risks of fire,
loss of goods in transit, theft, etc., which can be insured against.
These are known as measurable and insurable
risks. Secondly, some risks, however, cannot be insured against
because their probability cannot be calculated
accurately. These constitute what is called uncertainty (e.g.,
competitive risk, technical risk, etc.). The
entrepreneur undertakes both these risks in production.
 Entrepreneur Entrepreneurship

An entrepreneur is a person Entrepreneurship is the set of

who bears the risk, combines activities performed by an
various factors of production entrepreneur.
and brings new ideas and
carries out creative
innovations.
An entrepreneur is an It is a process involving various
individual, responsible for actions to be undertaken to
identifying a business establish enterprise. It involves
opportunity and taking it from multiple activities.
idea to implementation i.e. One
man activity.
Entrepreneur is a person. Entrepreneurship is a process.

Entrepreneur is an organizer. Entrepreneurship is an

organization.
The main role of an The main role of an
entrepreneur is to set-up an Entrepreneurship is to
enterprise. encourage the entrepreneur.
 Entrepreneur Intrapreneur
An entrepreneur is An Intrapreneur is dependent
independent in his operations on the entrepreneur i.e. the
owner.
An entrepreneur himself The Intrapreneur does not
raises funds required for the raise funds.
enterprise.
Entrepreneur bears the risk An Intrapreneur does not
involved in the business fully bear the risk involved in
the enterprise.
Entrepreneurs may find it Intrapreneurs have their
difficult to get resources resources readily available to
them.
An entrepreneur begins his An intrapreneur sets up his
business with a newly set up enterprise after working
enterprise. someone else’s organization.
 References:
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Thank you!!