Entrepreneurship

SHARJANA SHAILY
Learning Content
The nature and importance of Entrepreneurship

Historical Development of Entrepreneurship

Personal characteristics of Entrepreneurship

Functions of Entrepreneurship

Distinction between an entrepreneur and a manager

Role of entrepreneurship in Economic Development

 •Explain the nature and
importance of
entrepreneurship
•Explain the historical
Development of
Objectives entrepreneurship
•Examine the personal
characteristics of
At the end of this lecture entrepreneurship
you should be able to: •Explain the major functions
of entrepreneurship

•To distinguish an
entrepreneur from manager
•To analyse the role of
entrepreneurship to an
economy
Nature of Entrepreneurship
Entrepreneurship refers to the overall course of action undertaken by an owner in
starting and managing his/her enterprise for profit. However, the term
entrepreneurship continues to be used in different ways.
One usage relates entrepreneurship to the process leading to the creation
and running of any new business regardless of its size, product, service, potential,
a firm of ownership.
Another viewpoint sees entrepreneurship as being essentially concerned with
developing a new idea- based at which a risk bearing unique product, service or
method is marketed by means of setting up a new independent unit or by using a
directly existing unit.
Types of
Entrepreneurship
Skills
Entrepreneurs
Require
 Identifiaction of Opportunities

Essential
features of Innovation
Entrepreneurship
Entrepreneurship is the act
or process of identifying Entrepreneurial Attitude
business opportunities,
assembling the necessary
resources, taking calculated Role of Development
risks to initiate a successful
business activity.

Leadership
Causation vs
Effectuation
Theories of
Innovation
Schumpeter’s Theory of
Innovation

Pentathlon innovation
framework

Roger’s Diffusion of
Innovation