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    Basics of Sports Entrepreneurship
    Basics of Sports Entrepreneurship
    Basics of Sports Entrepreneurship
    Ebook243 pages1 hour

    Basics of Sports Entrepreneurship

    By Dr Gaurav Pant

    ()

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    About this ebook

    This book is for people who wanted to become an Entrepreneurship but didn't know how to start a startup. This book focused on sports startup and how one can know the methodology of business plan
    LanguageEnglish
    PublisherLulu.com
    Release dateJul 28, 2016
    ISBN9781365289835
    Basics of Sports Entrepreneurship

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      Book preview

      Basics of Sports Entrepreneurship - Dr Gaurav Pant

      entrepreneurship.

      DEFINITION OF ENTREPRENEUR

      (Segment is taken from www.unevoc.unesco.org/e-forum/entrepreneur.doc)

      An entrepreneur is one of the important segments of economic growth. Basically he is a person responsible for setting up a business or an enterprise. In fact he is one who has the initiative, skill for innovation and who looks for high achievements. He is a catalytic agent of change and works for the good of people. He puts up new green field projects that create wealth, open up many employment opportunities and leads to the growth of other sectors.

      The word ‘entrepreneur’ is derived from the French verb entreprendre. It means to undertake. In the early 16th century, the Frenchmen who organized and led military expeditions were referred to as entrepreneurs, Around 1700 A.D., the term was used for architects and contractors of public works.

                  The term entrepreneur was applied to business initially by the French economist, Caltillon, in the 18th century, designate a dealer who purchases the means of production for combining them into marketable products. Another Frenchman J.B. Say, expanded  Cantillon’s ideas and conceptualized the entrepreneur as an organizer of a business firm, central to its distributive and production functions. Beyond stressing the entrepreneur’s importance to the business, Say did little with his entrepreneurial analysis.

                    According to J.B.Say, an entrepreneur is the economic agent who unties all means of production, the labour force of the one and the capital or land of the other and who finds in the value of the products his results from their employment, the reconstitution of the entire capital that he utilizes and the value of the wages, the interest and the rent which he pays as well as profit belonging to himself. He emphasized the functions of co- ordination, organization and supervision. Further, it can be said that the entrepreneur is an organizer and speculator of a business enterprise. The entrepreneur lifts economic resources out of an area of lower into an area of higher productivity and greater.

                The New Encyclopaedia Britannica considers an entrepreneur as " an individual who bears the risk of operating a business in the face of uncertainty about the future condition.

              As professor Jan Tin Bergen points out " The best entrepreneur in any developing country is not necessarily the man who uses much capital, but rather the man who knows how to organize the employment and training of his employees. Whoever concentrates on this is rendering a much more important service to his country than the man who uses huge capital. 

                    Joseph A. Schumpeter thus writes " The entrepreneur in an advanced economy is an individual who introduces something new in the economy- a method of production not yet tested by experience in the branch of manufacture concerned, a product with which consumers are not yet familiar, a new source of raw material or of new markets and the like’

                Briefly, an entrepreneur is one who innovates, raises money, assembles inputs, chooses managers and sets the organization going with his ability to identify them. Innovation occurs through (1) the introduction of a new quality in a product (2) a new product(3) a discovery of a fresh demand and a fresh source of supply and (4) by changes in the organization and management.

                  New Concept of Entrepreneur – The term entrepreneur has been defined as one who detects and evaluates a new situation in his environment and directs the making of such adjustments in the economic system as he deems necessary. He conceives of an industrial enterprise for the purpose,  displays considerable initiative, grit and determination in bringing his project to fruition and in this process, performs one or more of he following.

      Perceives opportunities for profitable investment

      Explores the prospects of starting such a manufacturing enterprise

      Obtains necessary industrial licenses

      Arranges initial capital

      Provides personal guarantees to the financial institutions

      Promises to meet the shortfalls in the capital and

      Supplies technical know-how.

                  The term entrepreneur’ is to be understood in its totality and not in a fabricated manner. The term entrepreneur’ can only be understood with a bearing on economic, psychological, sociological and cultural bearings. The social responsibility is essentially a part of entrepreneurial outlook on life.

      Basics of an Entrepreneur

      So, Entrepreneurs are individuals motivated by a will for power, special characteristics being an inherent capacity to select correct answers, energy, will and mind to overcome fixed talents of thoughts, and a capacity to withstand social opposition.

      Characteristics of an entrepreneur:

                  A successful entrepreneur must be a person with technical competence, initiative, good judgement, intelligence, leadership qualities, self confidence, energy, attitude, creativeness, fairness, honesty, tactfulness and emotional stability.

      Mental ability:

      Mental ability consists of intelligence and creative thinking. An entrepreneur must be reasonably intelligent and should have creative thinking and must be able to engage in the analysis of various problems and situations in order to deal with them. The entrepreneur should anticipate changes and must be able to study the various situation under which decision have to be made.

      Clear objectives:

      An entrepreneur should have a clear objectives as to the exact nature of the goods to be produced and subsidiary activitie to be undertaken. A successful entrepreneur may also have the objective to establish the products, to make profit or to render social service.

      Business secrecy:

      An entrepreneur must be able to guard business secrets. Leakage of business secrets to trade competitors is a serious matter which should be carefully guarded against by an entrepreneur. An entrepreneur should be able to make a proper selection of his assistants.

      Human relations ability:

      The most important personality traits contributing to the success of an entrepreneur are emotional stability, personal relations, consideration and tactfulness. An entrepreneur must maintain good relations with his customers if he is to establish relations that will encourage them to continue to patronize his business. He must also maintain good relations with his employees if he is to motivate them to perform their jobs at a high level of efficiency. An entrepreneur who maintains good human relations with customers, employees, suppliers, creditors and the community is much more likely to succeed in his business than the individual who does not practice good human relations. Human relations ability can also be referred to as tactfulness.

      CHARACTERISTICS OF AN ENTREPRENEUR

      Communication ability:

      Communication ability is the ability to communicate effectively. Good communication also means that both the sender and the receiver understand each other and are being understood. An entrepreneur who can effectively communicate with customers, employees, suppliers and creditors will be more likely to succeed than the entrepreneur who does not.

      Technical knowledge:

      An entrepreneur must have a reasonable level of technical knowledge. Technical knowledge is the one

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