Entrepreneurial Motivation
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Transcript of Entrepreneurial Motivation
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Entrepreneurial Motivation
Presented by- Sakshi vohra,Nidhi yadav,Swati
singhGeetika madhur
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Motivation is an indispensible function of management.
Motivation refers to the process that initiates,guides and maintains goal oriented behavior.
What is Motivation?
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It provides numerous opportunities for self expression and realization of one’s passion for doing something new and different.
Entrepreneurship leads to increase in the national income of the country and enhance its economic development
What is entrepreneurship?
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People certainly don’t work for money alone Money is required not for its own sake, but
the sake of the needs of the person fulfillment
McClelland may be regarded as the father of the study of entrepreneurial motivation
Need framework for entrepreneurial motivation
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Factors motivating the entrepreneurs
Internal factor External factor
Desire to do something new
Education background Business experience
in same or related line
Government assistance and support
Availability of raw material and labour
Encouragement from big business houses
Promising demand for the product
Profit margins
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Entrepreneurial ambition
To make money To continue family business To secure self employment To gain social prestige To do something creative
Another study on entrepreneur motivation classified the factors into 3 categories
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Unemloyment Dissatisfaction with job Make use of idle funds Revival of sick units started by father Make use of technical\professional skills
Compelling reason
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Success stories of entrepreneurship
Experience in same or other line of activation
Previous employment in same or other line of activation
Facilitating factor
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Entrepreneurial performance may refer to measure of business success.
Reward may refer to the recompense financial or psychic accruing to the entrepreneur
The convergence is attained when and where the success of the venture itself is perceived as a personal reward
Entrepreneurial performance and rewards
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Thank you