Entrepreneurship module 1 entrepreneurship
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Transcript of Entrepreneurship module 1 entrepreneurship
Entrepreneurship
What is the estimatedpopulation of the world?
6.5 Billion65,000,000,000
I/3 Live in India and China
35% Youth join the workforce soon
JOBS?
ENTREPRENEURS
Who is an Entrepreneur ?
A person who takes the risk of converting a new idea into reality.
What is Entrepreneurship? The Process of Bearing Risk of
Running a Business
Importance of Entrepreneurship
• Industrial development
• Regional growth
• Employment generation
• Increase in per capita income
• Higher standard of living
• Revenue to the government
India needs Entrepreneurs• To capitalize new opportunities• Create wealth• Create jobs
Advantages of being an Entrepreneur
You are your own Boss
Try your ideas
Make money
Involve and Evolve
Personal satisfaction
Direct customer interaction
Work with passion
In India, where over 30 crores people are living below the poverty line, it is simply impossiblefor any government to providemeans of livelihood to everyone.
Such situations surely demandfor a continuous effort from the society, where the people are encouraged to come up with their entrepreneurial initiative.
Promoting Entrepreneurship
Lets watch a movie
Entrepreneurial Development Process
Stage 1 Perceiving , identifying and evaluating opportunity
Stage 2 Drawing up a business plan
Stage 3 Marshalling resources
Stage 4 Creating the enterprise
Stage 5 Consolidation and management
Characteristics of a successful entrepreneur
• Creativity
• Innovation
• Dynamism
• Leadership
• Teambuilding
• Achievement Motivation
• Problem solving
• Risk taking and decision making ability
• Commitment
• Goal orientation
Classification of Entrepreneurs
• Innovative Entrepreneur
• Imitative Entrepreneur
• Fabian Entrepreneur
• Drone Entrepreneur
• Based on functional characteristics
Classification of Entrepreneurs
• Based on the Developmental Angle
• Prime mover
•Manager•Minor Innovator
• Satellite
• Local Trading
Classification of Entrepreneurs
• Based on Types of Business
•Manufacturing
• Retailing
• Service
•Wholesaling
Lets watch a movie
Classification of Entrepreneurs
• Based on Personality Types
• The Improver
• The Advisor
• The Superstar
• The Artist
• The Visionary
• The Analyst
• The Fireball
• The Hero
• The Healer
• The ImproverMeans to improve the world
• The AdvisorCustomer focused
• The SuperstarPersonal brand
• The Artist
Unique talent & Creativity
• The Visionary
Future vision & thoughts
• The Analyst
Fixing problems
• The Fireball
Life , Energy , Optimism
• The Hero
Will and ability to lead
• The Healer
Nurture , Harmony
Problems faced by entrepreneurs
Internal problems External problems
• Planning• Technical feasibility• Economic feasibility
• Implementation
• Production• Production management• Labour management• Marketing management• Financial management• Administrative management
• Infrastructural
• Financial
Problems faced by entrepreneurs
Specific management problems
• Management deficiency
• Finance
• Manufacturing and technical problems
• Product planning
• Selection of equipment, plant and machinery
• Human resource development
• Technical know-how
• Preparation of project report
Myths of Entrepreneurship
• Entrepreneurs are born not made
• All you need is money to be a entrepreneur
• Having no boss is great fun
• I can make lots of money
• I will definitely become successful
Born in 1932 in Chorwad village , Gujarat
At 17, first job at Shell petrol pump with Rs.300 salary
At 26, began trading spices at Bombay.
At 27, started trading yarn
At 34, owner of a textile mill Naroda
At 45, his company went public
At 56, started Petrochemicals company
At 65, built the largest refinery worth Rs.25000 croreat Jamnagar
At 70, India’s only private sector Fortune 500 company
Rags to Riches – Reliance Industries
Dhirubhai Ambani
Lets watch a movie