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ENTREPRENUERSHIP

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INTRAPRENEUR

A person who focuses on

innovation and

creativity andwho transforms a dream or an idea into a

profitable venture

by operating within an established

organisational environment.

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INTRAPRENEUR

Gifford Pinchot coined the term Intrapreneur.

Entrepreneur's attitude and approach playing

field within the boundary of a company.

Intrapreneuring is entrepreneuring within the

corporation.

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INTRAPRENEUR

Pinchot intracapital

"Intrapreneurs introduce and produce newproducts, processes, and services, which in

turn enable the company as a whole to grow

and profit.

-G.Pinchot

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CHARACTERISTICS OF ANINTRAPRENEUR

Intrapreneurs are driven by a need to realizetheir vision, not a desire for wealth

They work to minimize risk in order to realize

their goalsThey follow both intuition and hard analysis

They are honest with themselves and others

They do not have a need for power. They are,in short, worthy of freedom and responsibility.

Intrapreneurs bridge the gap betweeninventors and managers; they take new ideas

and turn them into profitable realities.

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ENTREPRENEUR

An entrepreneur searches for change,

responds to it and exploits opportunities.

Innovation is a specific tool of an entrepreneur

hence an effective entrepreneur converts asource into a resource.

- Peter Drucker

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ENTREPRENEUR

An entrepreneur is a person who has

possession of an enterprise, or venture, and

assumes significant accountability for the

inherent risks and the outcome.

An ambitious leader who combines land,

labor, and capital to create and market new

goods or services.

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ENTREPRENEUR VsENTREPRENEURSHIP

Entrepreneurs

People who create and grow enterprises

EntrepreneurshipProcess through which entrepreneurs

create and grow businesses.

Opportunity idea translation creativity.

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DIFFERENT VIEWS ONENTREPRENEUR

David McClelland An overwhelming need

for achievement and strong urge to build.

Collins and Moore - Driven by needs of

independence and achievement. They seldom

are willing to submit to authority.

Bird - They are cunning, opportunistic,

creative, and unsentimental.

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contd

Cole - There are four types of entrepreneur

The innovator,

The calculating inventor

The over-optimistic promoter, and

The organization builder.

These types are not related to the personality but to

the type of opportunity the entrepreneur faces.

Zhao & Seibert - meta-analysis between entrepreneur

and manager.

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ENTREPRENEURSHIP

Entrepreneurship - Onuoha (2007)

the practice of starting new organizations or

revitalizing mature organizations, particularly

new businessesgenerally in response to identifiedopportunities.

Entrepreneurship Peter Drucker

a systematic innovation, which consists in thepurposeful and organized search for changes,

and it is the systematic analysis of theopportunities such changes might offer for

economic and social innovation.

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TYPES OFENTREPRENEURSHIP

Social entrepreneurship.

Political entrepreneurship.

Knowledge entrepreneurship

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SEQUENTIAL STEPS

Types of ownership.

Name of the business.

Evaluation of the financial options.Industry overview.

Market analysis.

Management plan.

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PILLLARS FOR

ENTREPRENEURSHIP

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FORMS OF ENTREPRENEURSHIP

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WHYENTREPRENEURSHIP

To improve backwardness of the people.

Economic development of the region.

Proper utilization of human potentiality.Special attention to take up new activities.

To create self-employment and generation ofemployment opportunity.

Eradication of regional imbalances.Better economic gain.

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TYPES OFENTREPRENUERS

Innovative Entrepreneurs.

Imitative Entrepreneurs,.

Fabian Entrepreneurs.

Drone Entrepreneurs.

Solo Operators.

Active Partners.

Simply Partners.Inventors.

Buyers.

Life timers.

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INNOVATIVE

ENTREPRENEURS

Launches new products, discovers new

markets, establishes new methods of

production and restructures the enterprise.

Can work only when definite level of progress

has been previously accomplished.

They focus on revolutionalisation and

development.

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IMITATIVE

ENTREPRENEURS

Adopt victorious innovations launched

by the innovative entrepreneurs.

Duplicate the technology andtechniques innovated by others.

Suitable for underdeveloped countries.

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FABIAN

ENTREPRENEURS

Exemplified by great caution and skepticism

in experimenting any change in the

organization.

They imitate only in situations where it

becomes necessary to do so.

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DRONE

ENTREPRENEURS

Drone Entrepreneurs suffer losses, as they

refuse to make any modifications in the

existing production methods.

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SOLO OPERATORS

These entrepreneurs basically work alone and

if required may recruit few people.

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ACTIVE PARTNERS

These entrepreneurs set up an enterprise as

a joint venture and they actively take part in

the activities of the organization.

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SIMPLY PARTNERS

These entrepreneurs contribute funds, but are

not involved in the operations of the

enterprise.

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INVENTORS

These entrepreneurs are involved in the

research and development and innovative

activities.

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BUYERS

These entrepreneurs in order to reduce risk

buy an already established and ongoing

enterprise.

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LIFE TIMERS

These entrepreneurs take business as

primary part of their life.

Family enterprise falls into this group of

entrepreneurs.

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FUNCTIONS OF ANENTREPRENEUR

Planning of the project

Management

To Face Risks

Distribution of Rewards

Sale of Products

Scale of Production

Joint stock OrganizationEarn Profit

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PRODUCTION

SALES/MARKETING

FINANCETECHNOLOGY/ SYSTEM

HUMAN RESOURCES

ENTREPRENUER

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FUNCTIONSPERFORMED

Identifying entrepreneurial opportunity

Turning ideas into action

Feasibility studyResourcing

Setting up of the Enterprise

Managing the enterprise

Growth and Development