En Trepre Neu R

EN TREPRE NEU R

MEA NI NG  The word derived from the French word Entreprendre Which means who undertake the risk of new ENTERPRISE

INTRO DUC TI ON  The agent who buys mean of production at certain prices in order to combine them into a product .  Which going to sell at uncertain prices.

According T o Pet er F. Drucker  Entrepreneur must be an innovator Capable to analysis the opportunities Must be very simple to understand He need not be owner of the business

TRAI TS OF GOOD EN TREPREN UER        

INNOVATOR RISK TAKER GOOD ORGANIZER SELF CONFIDENCE DECISION MAKER HARDWORKER GOAL SETTER HIGHLY OPTIMISTIC

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SOCIALLY RESPONSIBLE STRATIGIC PLANNER BOLD AND BRAVE GOOD COMMUNICATER MENTALLY SOUND LEADERSHIP ACCOUNTABILITY

FACTO RS EFFECTI NG EN TREPREN EU R  ENTREPRENEURIALS  PROMMOTIONAL FACTORS  MANAGERIAL FACTORS  COMMERCIAL

EN TREPRE NEU RI AL FAC TORS  INNOVATION  RISK TAKING  ORGANISATION BUILDER

PRO MOT IONA L  DISCOVERY OF AN IDEA  DETAILED INVESTIGATION  ASSEMBLING THE REQUIREMENTS  FINANCING THE PROPOSITION

MA NAG ERI AL F ACT ORS  PLANNING gathering information , set objectives reviewing limitation , implementation of plans

ORG ANI SI NG  To identify the work to be professional  To delegate authority  Co-ordination between various factors

 DIRECTING  LEADERSHIP  MOTIVATION  SUPERVISION  CONTROLLING

COM MER CI AL FAC TORS  PRODUCTION  FINANCE  MARKETING  PERSONNEL  ACCOUNTABILITY

TRAITS OF SUCC ESFULL ENT REPRENE UR  KNOWLEDEGE OF THE ORGANISATION  TECHNICAL KNOWLEDGE  ADMINSRATIVE ABILITY  ABILITY TO INPIRE

 ABBILITY TO COMMUNICATE EFFECTIVELY  ABILITY TO LISTEN  ABILITY TO JUDGE PERSON  LEADERSHIP QUALITY  SOCIAL SENSIBILITY  PHYSICALLY ENERGETIC

EN TREPRE NEU RS CL ASSI FIACTI ON

INN OVATI VE

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Introduce new products , New method of production Open new markets Innovating entrepreneurship experiments

ADO PTI VE  They adopt the successful innovation innovated by other.  Make some changes in the other’s innovation , so to suit their requirements.  Also known as IMITATIVE ENTREPRENEUR

FAB IAN  Follow the foot steps of others successors.  Fabian are not risk takers  Lazy

DRO NE  Drone are more Lazy then the Fabian in adopting new methods,  But more rigid than Fabian.  They resist changes

EN TREPREN UERS VS. MAN AG ER

PRI MA RY MO TI VES  Manager wants want promotion  Entrepreneurs want freedom

SK IL LS  Professional managers are often business school trained.  Entrepreneurs knows business intimately and learn through experiences.

RI SK  Managers are very careful

 Entrepreneurs like calculated risk.

STA TUS  Managers are employees  Entrepreneurs are the owners

EDU CATI ON AL L EV EL S  Managers are highly educated  Entrepreneurs have less level of education