V A.

Entrepreneurial Perspective :

Concept of Entrepreneur, entrepreneurship and

enterprise ; advantages entrepreneur
1. Nature and Development of Entrepreneurship:
Gender issues in entrepreneurship
2. The dynamic role of Small Business/ Industry in
Economic Development
3. Personality of an Entrepreneur
4. Innovation and Entrprenurship
V OB) The entreprenual Environment:
1. Policy perspectives in India to promote
entrepreneurship
2. Analysis of Business Opportunities in different
sectors of economy at National and Global levels
3. Quick start routes to establish an
EnterprisesO ranchising, Ancialliarising and
Acquisitioning)
4. Support organizations for an entrepreneur and
their role.
5. Legal framework for starting a business /
industry in India
V ¢ The Enterprise Launching :
V Product/project identification
V Developing a project report Business Plan
V Business financing including venture capital
finance
V Managing early growth of a business
incubation program
V New venture expansion ²strategies and issues
! Dynamics of entreprenurship by Vasant
Desai
!www.idscd.org

!www.quickmba.org
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An Ú
ÚÚ Ú is a person who has possession of a
new enterprise, venture or idea, and assumes
significant accountability for the inherent risks and the
outcome. He or she is an ambitious leader who
combines land, labor, and capital to often create and
market new goods or services. ... [1] The term is a
loanword from rench and was first defined by the
Irish economist Richard Cantillon.
Basically an entrepreneur is a person
responsible for setting up a business or an
enterprise. He 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 growth of other sectors .

      :

1.Percieves opportunities for profitable investments

2.Express the prospects of standing sucha
manufacturing enterprise
3. Obtains necessary industrial license
4.Arranges initial capital
5.Provides personal guarantees to financial institutions
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V Entrepreneurship is often difficult and tricky, resulting
in many new ventures failing. The word entrepreneur
is often synonymous with founder. Most commonly,
the term entrepreneur applies to someone who creates
value by offering a product or service, by carving out a
niche in the market that may not exist currently.
Entrepreneurs tend to identify a market opportunity
and exploit it by organizing their resources effectively
to accomplish an outcome that changes existing
interactions within a given sector.
V Observers see them as being willing to accept a high
level of personal, professional or financial risk to
pursue opportunity.
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oInnovation, ! Resourcefulness
o risk taking, ! need for achievement
decision making, ! self! starter
oaccepting challenges, ! tenacious
o organization, ! creative
oskilful management, ! Persuasive
omaking the enterprise a success !
Entrepreneurial process:
Stage 1: some changes in the socio!economic
environment change creates needs for new goods
and services.
Stage II : starting a new venture
Stage III : Entreprenurship process of extending
the enterprises domain of competence by
exploiting new opportunities through new
combinations
Stage IV: coordinating the various activities to
achieve the entrepreneur goal
ËOMEN ENTREPRENURES:
.1. Poor image of women
2. Inadequate motivation
3. Discriminating treatment
4. aulty socialization
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Types of start up firms Y
oSalary substitute firms : are small firms that afford their
owner/ owners a level of similar to what they would earn
in conventional job. Examples of salary substitute firms
are dry cleaners, convenience stores, restaurants,
accounting firms, retail stores , hairstyling salons, etc.
oLifestyle firms : firms that provide their owner or woners
the opportunity to pursue a particular lifestyle and make
a living at it .
oEntrepreneurship firms : that bring new products and
services to the market by creating and seizing
opportunities regardless of the resources they currently
control .
2  

 


 Y
entrepreneurship affects the economic health of a community
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V 1. Innovations are the harbingers of change
V 2. Innovations can take place at the spark of
light or can take a generation of experiments
V 3. Innovations provide a Unique Selling
Proposition to a business.
V 4.Innovations are action oriented .ie.active and
searching new ideas.
V 5. Innovations are action oriented .ie. Active
and seacrhing new ideas.
V ü.Innovations help in making the product,
service or process customer based.
V 8. Innovation is all about trying , testing, and
revising.
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V Sources of idea generation:
V 1.Present and potential consumers
V 2. existing companies
V Raw material providers
V Distribution and retailers
V Research and development
V Existing employees
V
V 1. Innovation is planned and predictable
V 2.Technical specification should be thoroughly
prepared
V 3. Creativity relies on dreams and ideas
V 4. Technology is the only driving force of innovation
and success.
V According to Schumpter (1934) listed five different kinds of
innovations or ways to act as an entrepreneur :
V 1. The introduction of a new good or quality of a good.

V 2. The introduction of a new method of production

V 3. The opening of a new market.

V 4. The utilization of some new sources of supply for raw

materials or intermediate goods.
V 5. The carrying out of some new organizational form of the
industry .
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V An environment to promote innovation :
V 1. Rewarding creative ideas and processes
V 2. Encouraging people to suggest and
experiment new ideas
V 3. open communication within the organization
V 4. Give autonomy and freedom for decision
making to the employees
V 5. Using participative method for problem
solving
V our factors associated with lateral thinking:
V 1. Recognize dominant ideas that polarize perception
of a problem
V 2. searching for different ways of looking at things
V 3.Relaxation of rigid control of thinking
V 4. use of chance to encourage other ideas
V O pp.51) madhurima lall and sahai
V OCase of shanti batteries 1.3 pp. 56 )