Entrepreneurship development Module 1.2.pptx

It's all about entrepreneurship development

1. ENTREPRENEURSHIP DEVELOPMENT

2. Types of Entrepreneurs – Type of Business Trading Entrepreneurs: Buy and sell Manufacturing Entrepreneurs: Production process, make it themselves.

3. Types of Entrepreneurs – Type of Business Agricultural entrepreneurs: agriculture related businesses.

4. Types of Entrepreneurs – use of technology Technical entrepreneur – Digital platforms Non Technical Entrepreneur – brick and mortar store

5. Types of Entrepreneurs – ownership Private entrepreneurs Public Entrepreneurs Joint Entrepreneurs

6. Types of Entrepreneurs – Gender Men entrepreneurs Women Entrepreneurs

7. Types of Entrepreneurs – Size Manufacturing Sector Criteria Micro Enterprises Does not exceed 25 lakh rupees Small Enterprises More than 25 lakh rupees but does not exceed 5 crore rupees Medium Enterprises More than 5 crore rupees but does not exceed 10 crore rupees

8. Clarence Danhof Classification Innovating Entrepreneurs – Bring in a new Technology. Introduces new goods, inaugurates new method of production, discovers new market & reorganizes the enterprise. Android OS Imitative entrepreneurs – Use a technology proved by others. – All smart phones Fabian Entrepreneurs – Great caution in adopting a new technology – AI by Apple Drone entrepreneurs – Refusal to adopt opportunities to make changes in production formulae even at the cost of severely reduced returns

9. Becoming an Entrepreneur on the Job

10. Defined as… Intrapreneur is an entrepreneur with an already established organization. Intrapreneurs are “dreamers who do”, those who take hands-on responsibility for creating innovation of any kind within an organization. Gifford Pinchot The intrapreneur is an essential ingredient in every innovation. Dr. William Souder

11. Differences between entrepreneur vs intrapreneur Funding: company/organization often has capital to fund the project. Intrapreneur need not raise. Dependency: Intrapreneur is dependent on the entrepreneur Manpower: I ntrapreneurs do not have to worry about finding the talent to get tasks performed Risk: No risk to the intrapreneur. Branding: I ntrapreneurs can use the branding of the company/organization to get their ideas to take root

12. DEFINITION OF ENTREPRENEURSHIP According to A.H.Cole , “Entrepreneurship is the purposeful activity of an individual or a group of associated individuals, undertaken to initiate, maintain or organize a profit-oriented business unit for the production or distribution of economic goods and services.”

13. Difference between entrepreneur and entrepreneurship Entrepreneur Entrepreneurship Person Process Organizer organisation Innovator Innovation Creator creation Visualizer Vision Leader Leading organisation Risk bearer Risky business Entrepreneur takes the initiative to create a new business venture. Entrepreneurship refers to the process of creating and managing a new business venture to achieve financial success and make a positive impact on society.

14. Evolutionary Definitions Period and Personality Opinion on Entrepreneur 17 th Century-General Concept Person bearing risks of profits (loss) in a fixed price contract with Govt. 1725: Richard Cantillon Person bearing risks is different from one supplying capital. 1797: Beaudeau Person bearing risk, planning, supervising, organising and owning. 1803: Jean Baptiste Say Separate profile of entrepreneur from profits of capital. 1934: Joseph Schumpeter An entrepreneur is an innovator and develops untried technology.

15. Evolutionary Definitions Period and Personality Opinion on Entrepreneur 1964: Peter Drucker Entrepreneur maximizes opportunities through systematic innovations. 1975: Albert Sharpero Entrepreneur takes initiatives, organizes some socio-economic mechanism, and accepts risk of failure. 1980: Karl Vesper Entrepreneur seen differently by economist, psychologist, businesspersons, and politicians. 1985: Robert Hisrich Entrepreneurship is the process of creating something different with value by devoting the necessary time and effort, assuming the social risks and receiving the results-rewards of monetary and personal satisfaction.