Emergence of Entrepreneurial Class

This presentation throws light on the emergence of the entrepreneurial class globally.

1. Emergence of Entrepreneurial Class (World) Presented by: Aman Jaiswal Semester III (MBA – M52) MONIRBA, University of Allahabad

2. Introduction The term entrepreneur was originated from the French word “ E ntrependure” which means one who undertakes. Richard Cantillon , an Irishman defined entrepreneur as a person who buys factor services at certain prices for selling his product at uncertain prices in future . He viewed entrepreneur as a bearer of non insurable risk.

3. Pre Industrial Revolution The Beginning of Entrepreneurship & Trade Entrepreneurship & The Agricultural Revolution Expansion of Trade Routes from 2000 BC Onwards

4. Post Industrial Revolution The Industrial Age & Entrepreneurship : It marked yet another profound shift in the history of entrepreneurship. Invention of Steam Engine resulted in Industrial Revolution(1769) It changed small scale production to large scale production

5. The Industrial Age & Entrepreneurship: Two factors which fuelled this fundamental change are: Availability of Energy Production Availability of Labour

6. Occupational Origin Prof Ashton conducted a survey in which he selected 47 British Innovators of Industrial Revolution period. Out of them.... S.N Number of Persons Occupation 1 17 Manufacturing proprietors 2 10 Artisans 3 12 Peasants 4 04 Traders- Consumer goods Industry 5 04 Professional Men

7. Social Origin They were outsiders and worked in Trade / Finance rather than manufacturing industries. Prof Geertz in 1963 conducted a survey in Lebanon and found that 80% of the Entrepreneurs were Christians and only 16% were Muslim entrepreneurs

8. Post Revolution Continued Post World War 2 Entrepreneurship Modern Entrepreneurship

9. Factors Impacting Emergence of Entrepreneurship Economic Factors : Capital Labour Raw Materials Market Infrastructure

10. Social Factors : Caste factor Family background Education Attitude of the society Psychological factors: Need achievement Political factor

11. Conclusion As the year went by ,the means of entrepreneurship changed dramatically but the core reasons for entrepreneurship remained the same .Everywhere in the world entrepreneurs arose to address demand by providing supply. They innovated and invented new technologies to solve problems that nobody had ever solved before.