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Shraddha Ed

This document provides an introduction to entrepreneurship, including definitions and key concepts. It discusses the concept of entrepreneurship and defines an entrepreneur as someone who starts a new business and takes on associated risks. It describes four types of entrepreneurship: small business, scalable startups, large companies, and social entrepreneurship. It outlines five important characteristics of successful entrepreneurs: ability to take risks, innovation, visionary leadership, flexibility, and knowledge of their product. Finally, it discusses the importance of entrepreneurship in creating employment, driving innovation, contributing to community development, improving standards of living, and supporting research.

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63 views13 pages

Shraddha Ed

This document provides an introduction to entrepreneurship, including definitions and key concepts. It discusses the concept of entrepreneurship and defines an entrepreneur as someone who starts a new business and takes on associated risks. It describes four types of entrepreneurship: small business, scalable startups, large companies, and social entrepreneurship. It outlines five important characteristics of successful entrepreneurs: ability to take risks, innovation, visionary leadership, flexibility, and knowledge of their product. Finally, it discusses the importance of entrepreneurship in creating employment, driving innovation, contributing to community development, improving standards of living, and supporting research.

Uploaded by

Omi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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• WELCOME •

BHARATI VIDYAPEETH (DEEMED


TO BE UNIVERSITY) ,PUNE

YASHWANTRAO MOHITE
INSTITUTE OF MANAGEMENT
MALKAPUR,KARAD
NAME : SHRADDHA RAJENDRA MALI
CLASS : BCA-II
DIV : A
ROLL NO :
SUBJECT : ENTREPRENEURSHIP
DEVELOPMENT
INTRODUCTION
TO
ENTREPRENEURSHIP
INDEX
Sr.No. Chapter Page No.
Name
1 Concept of 6-7
Entrepreneurship

2 Meaning of 8
Entrepreneur

3 Types of 9
Entrepreneurship

4 Characteristics of 10-11
Entrepreneurship

5 Importance of 12
Entrepreneurship
• Concept of Entrepreneurship •
Entrepreneurship is the ability and readiness to develop, organize and
run a business enterprise, along with any of its uncertainties in order to
make a profit. The most prominent example of entrepreneurship is the
starting of new businesses.
In economics, entrepreneurship connected with land, labour, natural
resources and capital can generate a profit. The entrepreneurial vision is
defined by discovery and risk-taking and is an indispensable part of a
nation’s capacity to succeed in an ever-changing and more competitive
global marketplace.
• Meaning of Entrepreneur •
•The entrepreneur is defined as someone who has the ability and desire
to establish, administer and succeed in a startup venture along with risk
entitled to it, to make profits. The best example of entrepreneurship is the
starting of a new business venture. The entrepreneurs are often known as
a source of new ideas or innovators, and bring new ideas in the market by
replacing old with a new invention.
•It can be classified into small or home business to multinational
companies. In economics, the profits that an entrepreneur makes is with a
combination of land, natural resources, labour and capital.
•In a nutshell, anyone who has the will and determination to start a new
company and deals with all the risks that go with it can become an
Entrepreneur.
• Types of Entrepreneurship •
It is classified into the following types:
1.Small Business Entrepreneurship-
These businesses are a hairdresser, grocery store, travel agent, consultant,
carpenter, plumber, electrician, etc. These people run or own their own business
and hire family members or local employee. For them, the profit would be able to
feed their family and not making 100 million business or taking over an industry.
2.Scalable Startup Entrepreneurship-
This start-up entrepreneur starts a business knowing that their vision can change
the world. They attract investors who think and encourage people who think out
of the box. The research focuses on a scalable business and experimental models,
so, they hire the best and the brightest employees.
3.Large Company Entrepreneurship-
These huge companies have defined life-cycle. Most of these companies grow and
sustain by offering new and innovative products that revolve around their main
products. The change in technology, customer preferences, new competition, etc.,
build pressure for large companies to create an innovative product and sell it to
the new set of customers in the new market.
4.Social Entrepreneurship-
This type of entrepreneurship focuses on producing product and services that
resolve social needs and problems. Their only motto and goal is to work for society
and not make any profits.
• Characteristics of Entrepreneurship •
Not all entrepreneurs are successful; there are definite characteristics that make
entrepreneurship successful. A few of them are mentioned below:

1.Ability to take a risk- 


Starting any new venture involves a considerable amount of failure risk. Therefore,
an entrepreneur needs to be courageous and able to evaluate and take risks, which
is an essential part of being an entrepreneur.

2.Innovation-
 It should be highly innovative to generate new ideas, start a company and earn
profits out of it. Change can be the launching of a new product that is new to the
market or a process that does the same thing but in a more efficient and
economical way.

3.Visionary and Leadership quality-


 To be successful, the entrepreneur should have a clear vision of his new venture.
However, to turn the idea into reality, a lot of resources and employees are
required. Here, leadership quality is paramount because leaders impart and guide
their employees towards the right path of success.
4.Open-Minded- 
In a business, every circumstance can be an opportunity and used for the benefit
of a company. For example, Paytm recognised the gravity of demonetization and
acknowledged the need for online transactions would be more, so it utilised the
situation and expanded massively during this time.

5.Flexible-
 An entrepreneur should be flexible and open to change according to the situation.
To be on the top, a businessperson should be equipped to embrace change in a
product and service, as and when needed.

6.Know your Product-


A company owner should know the product offerings and also be aware of the
latest trend in the market. It is essential to know if the available product or service
meets the demands of the current market, or whether it is time to tweak it a little.
Being able to be accountable and then alter as needed is a vital part of
entrepreneurship.
• Importance of Entrepreneurship •
1.Creation of Employment- 
Entrepreneurship generates employment. It provides an entry-level job, required
for gaining experience and training for unskilled workers.
2.Innovation- 
It is the hub of innovation that provides new product ventures, market, technology
and quality of goods, etc., and increase the standard of living of people.
3.Impact on Society and Community Development- 
A society becomes greater if the employment base is large and diversified. It
brings about changes in society and promotes facilities like higher expenditure on
education, better sanitation, fewer slums, a higher level of homeownership.
4.Increase Standard of Living-
 Entrepreneurship helps to improve the standard of living of a person by
increasing the income. The standard of living means, increase in the consumption
of various goods and services by a household for a particular period.
5.Supports research and development-
 New products and services need to be researched and tested before launching in
the market. Therefore, an entrepreneur also dispenses finance for research and
development with research institutions and universities. This promotes research,
general construction, and development in the economy.
• THANK YOU •

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