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MBA - 2nd Year - Entrepreneurship - Unit 2

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16 views7 pages

MBA - 2nd Year - Entrepreneurship - Unit 2

Uploaded by

harshushishodia1234
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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ENTREPRENEURSHIP

Unit 2
QUOTES

 "The way to get started is to quit talking and begin doing." - Walt Disney

 "Your time is limited, so don’t waste it living someone else’s life." - Steve
Jobs
 "I have not failed. I've just found 10,000 ways that won't work." - Thomas
Edison
 "The biggest risk is not taking any risk... In a world that’s changing really
quickly, the only strategy that is guaranteed to fail is not taking risks." -
Mark Zuckerberg
 "Success is not final, failure is not fatal: it is the courage to continue that
counts." - Winston Churchill
 "Whether you think you can or think you can’t, you’re right." - Henry Ford

 "If you don’t build your dream, someone else will hire you to help them
build theirs." - Dhirubhai Ambani
 "Pursue your goals even in the face of difficulties, and convert adversities
into opportunities." - Dhirubhai Ambani
 "It’s not about ideas. It’s about making ideas happen." - Narayana Murthy

 "The success of any business is not determined by its size but by the
quality and commitment of its people." - Azim Premji
 "There is no such thing as a failed experiment, only experiments with
unexpected outcomes." - Ratan Tata
 "Chase your passion and not your pension." - N. R. Narayana Murthy
INTRODUCTION

 French word meaning “to undertake”.


 Entrepreneurship refers to the act of creating, developing, and managing a
business venture, often involving risks, with the aim of making a profit. It is about
identifying opportunities and leveraging them to bring innovative products,
services, or solutions to the market. Entrepreneurs are typically seen as individuals
who take the initiative to transform ideas into reality, add value, and contribute to
economic growth.
DEFINITION

 Joseph Schumpeter: Entrepreneurship is the process of creating new products or services


by utilizing new combinations of resources. According to Schumpeter, an entrepreneur is
an innovator who brings about change through new products, processes, markets, or
combinations of resources.

 Peter Drucker: Drucker defines entrepreneurship as a systematic process of innovation. He


believes entrepreneurship is about exploiting opportunities to create something new,
adding value to society.

 Common Definition: Entrepreneurship can be defined as the process by which an


individual (or group of individuals) organizes and manages a business venture, bearing
most of the risks, with the objective of making a profit.
CHARACTERISTICS

 Innovation
 Risk Taking
 Opportunity Recognition
 Resource Mobilization
 Value creation
 Economic contribution
 Profit Potential
 Skillful Management
 Accepting challenges
 Dynamic

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